Abstract
The study focuses on the basic variables of the knowledge economy, where aims to know the role of the knowledge economy in the banking sector and solving the problems facing Libyan commercial banks in the development of banking services. In order to achieve the main purpose of the study, we used the descriptive-analytical method, by using the questionnaire. Where we surveyed a total of 320 employees at six commercial banks operating in the eastern region of Libya. Through incoming questionnaires, we have analyzed 299 questionnaires. The results of the analysis showed a positive relationship between the knowledge economy and the development of banking services and that the knowledge economy plays an active role in the development of banking services, as the sub-variables of the knowledge economy are knowledge, skills, education, IT infrastructure, speed, access to service, research and development, Innovation, institutional regime, economic incentives as well as the sub-dimensions of the developing of banking services that represented in online banking, data transfer services, the use of technology, and customer relations. all of them show a high positive relationship among them. Also, the study includes information on whether there are differences between the knowledge economy and the development of banking services in the banks included in the research. The results of the study showed that knowledge, skills, training, economic incentives, and institutional regime vary according to banks
Highlights
The knowledge economy is the main driver of economic growth, where the common use of information technology, communication, and knowledge represents the new factors of production and the measurement of growth (Al-Ghazawi, 2012)
The importance of the study is to determine the role of the knowledge economy in the development of the Libyan banking sector, to make it more flexible and capable of meeting the requirements of its customers. where pillars of the knowledge economy that represented in HR investment, ICT, innovation in R & D, economic incentives and the institutional regime have been used as key inputs in representing the independent variable, in addition, to know their role in influencing the dependent variable that represented in developing services banking
The study confines the role of the knowledge economy in the development of banking services, with focusing on investment in human capital and ICT, innovation in research and development, economic incentives and the institutional regime as considered them the most important pillars of the knowledge economy, and how they can contribute to the development of Libyan Commercial Banks
Summary
The knowledge economy is the main driver of economic growth, where the common use of information technology, communication, and knowledge represents the new factors of production and the measurement of growth (Al-Ghazawi, 2012). This study sought to identify the role of the knowledge economy as an input to solve the problems facing Libyan commercial banks in terms of developing their banking services, that through focusing on the main pillars of the knowledge economy. Where pillars of the knowledge economy that represented in HR investment, ICT, innovation in R & D, economic incentives and the institutional regime have been used as key inputs in representing the independent variable, in addition, to know their role in influencing the dependent variable that represented in developing services banking. Based on above the problem of the study can be clarified in the following question: What is the role of the knowledge economy in developing and improving banking services in Libya?. What is the impact of economic incentives and the institutional regime in the development of banking services?
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