Abstract
The Knowledge-Based Economic Drivers in Arabic Gulf Countries
Highlights
A knowledge-based economy is a system of consumption and production based on intellectual capital
A long-run relationship between economic growth and knowledge-based economy factors is economically meaningful in that it suggests that Arabic Gulf Countries meet the long-run solvency condition
There is an existence of a cointegrating link between variables, it is convenient that economic growth and knowledge-based economy factors coefficient be estimated using a panel cointegrating estimator
Summary
A knowledge-based economy is a system of consumption and production based on intellectual capital. Seventeen of the twenty-two countries in the Arab region have adopted economic development based on knowledge as short and long term policy (Schwalje, 2014). If this is successful, it will positively impact the economic growth of the Arab region. According to the World Bank (2015), as shown, the Arabic Gulf countries’ position was ranked between 42 and 64 on a knowledge-based economic index This position is below the aggregate score for Europe and Central Asia.
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