Human Capital, Knowledge Creation, Knowledge Diffusion, Institutions and Economic Incentives: South Korea Versus Africa

Contemporary Social Science.15(1), pp. 26-47 (February, 2020)

29 Pages Posted: 22 Mar 2018 Last revised: 25 Feb 2020

See all articles by Simplice Asongu

Simplice Asongu

African Governance and Development Institute

Vanessa S. Tchamyou

African Governance and Development Institute

Date Written: March 19, 2018

Abstract

This article compares African countries to South Korea in terms of knowledge economy (KE). Emphasis is laid on human capital, knowledge creation, knowledge diffusion, institutions and economic incentives. The analytical approach consists of providing knowledge economy catch-up strategies that can be understood within the context of country-specific gaps between the frontier country in KE and laggard African countries. The empirical evidence is based on sigma convergence with data for the period 1996-2010. Overall, a KE diagnosis is provided by assessing KE gaps (between South Korea and specific-African countries) and suggesting compelling catch-up strategies with which to reduce identified gaps. Contemporary and non-contemporary policies from South Korea and more contemporary policies based on challenges of globalisation are discussed. The policy relevance of this inquiry aligns with the scholarly perspective that catch-up between South Korea and more advanced economies was accelerated by the former adapting to and assimilating relatively obsolete technological know-how from more developed nations.

Keywords: Knowledge economy; Benchmarks; Policy syndromes; Catch-up; Africa

JEL Classification: O10; O30; O38; O55; O57

Suggested Citation

Asongu, Simplice and S. Tchamyou, Vanessa, Human Capital, Knowledge Creation, Knowledge Diffusion, Institutions and Economic Incentives: South Korea Versus Africa (March 19, 2018). Contemporary Social Science.15(1), pp. 26-47 (February, 2020) . Available at SSRN: https://ssrn.com/abstract=3144122 or http://dx.doi.org/10.2139/ssrn.3144122

Simplice Asongu (Contact Author)

African Governance and Development Institute ( email )

P.O. Box 8413
Yaoundé, 8413
Cameroon

Vanessa S. Tchamyou

African Governance and Development Institute ( email )

P.O. Box 8413
Yaoundé, 8413
Cameroon

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