BIDPA launches a study on Preconditions for Botswana’s Transition to a Knowledge Based Economyadmin
The Botswana Institute for Development Policy Analysis has launched a study on the preconditions for Botswana’s transition to a Knowledge Based Economy, (KBE)
The study is meant to take stock and reflect on Botswana’s journey towards transitioning to the KBE, assess the progress made so far in order to leapfrog towards the KBE, identify challenges and new opportunities emerging and develop a KBE strategy together with an implementation and monitoring framework as an effort to create our own national path towards the KBE. It will also initiate and lead a national discourse and promote public education about the KBE.
According to the World Bank report of 2005, a Knowledge Based Economy is one that utilizes knowledge as the key engine of economic growth. It is an economy where knowledge is acquired, created, disseminated and used effectively to enhance economic development. The following has been identified as pillars of a KBE; Education and Skills Development, Innovation, ICT infrastructure as well as Economic Incentives and Institutional Regime. The transition to a Knowledge Based Economy requires a long term strategy that focuses on developing the four KBE pillars.
To support this transition, BIDPA has developed a Knowledge Based Economy Index and Scorecard that aims to assess the readiness of Botswana for the knowledge economy. The Readiness Chapter is guided by the Knowledge Assessment Methodology by the World Bank and other knowledge economy literature. It is designed to provide a basic assessment of countries’ readiness for the knowledge economy, and identifies sectors or specific areas where policymakers may need to focus more attention or future investments.