SAMIA SATTI OSMAN MOHAMED NOUR, KING ABDULAZIZ UNIVERSITY, KINGDOM OF SAUDI ARABIA
Purpose – This paper aims to examine the challenges and opportunities for the transition to a knowledge-based economy in the Arab region.
Design/methodology/approach – Both descriptive and comparative approaches are used, together with the framework and definition of “knowledge-based economy” often used in the international literature to examine the challenges and opportunities for a transition to a knowledge-based economy in the Arab region.
Findings – The findings support the hypothesis concerning the challenges and opportunities for transition to a knowledge-based economy in the Arab region. This transition is seriously impeded by several political, social, economic, institutional and organisational obstacles and impediments. Overcoming the major challenges hindering the transition to knowledge-based economies will involve changing the economic structure by shifting from (rent-seeking) natural resources-based (oil) economies to knowledge-based economies in the Arab region.
Originality/value – This paper is valuable because it fills the gap in the Arab literature by presenting a more comprehensive analysis and investigating the challenges and opportunities for the transition, which previous literature has failed to adequately discuss. Moreover, the paper supports the efforts aimed at enhancing knowledge-based economies in the Arab region. The findings imply that it is essential for the Arab region to overcome challenges by implementing sound strategies for their transition to knowledge economies and improving and enhancing appropriate investments in human capital, effective institutions, relevant technologies and innovative and competitive enterprises to facilitate such a transition.
Keywords Knowledge, Knowledge-based economy, Challenges, Arab region
Paper type Research paper
JEL classification: O10, O11, O30