Generalized Knowledge Index: The Production, and Imputed Gross Future and Present Values of Doctoral Dissertations across Some African Countries
AbstractThe notion that lack of knowledge undermines the economic performance of African countries is deeply and widely held to be true. Yet evidence for the basis of that truth is few and far in-between. This paper first describes a production function approach to the creation of knowledge of African countries in terms of a relative and indirect measure of the quantity of dissertations. Second, the paper assesses the imputed gross future and present values of knowledge of the same group of countries. In the first instance it finds that relative income, population, and openness to the outside world are central to the production of knowledge of African countries. In the second instance, the imputed gross future and preset values of knowledge are positive, but of modest magnitude. The policy implications of the results recommend more investment in the production of knowledge of African countries, improved trade and therefore openness, and especially reduced opportunity cost of knowledge creation which now differs widely across countries, and averages 10.7%. For further research the results suggest that dissertations may be useful proxies for human capital in economic growth regressions.
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Bibliographic InfoPaper provided by EconWPA in its series GE, Growth, Math methods with number 0410007.
Length: 37 pages
Date of creation: 09 Oct 2004
Date of revision:
Note: Type of Document - wpd; pages: 37. Enlarged figures and tables available upon request
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Knowledge index; knowledge production function; imputed future and present values of doctoral dissertations; knowledge of African countries;
Find related papers by JEL classification:
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- O39 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Other
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
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- Erhun Kula, 2004. "Estimation of a Social Rate of Interest for India," Journal of Agricultural Economics, Wiley Blackwell, vol. 55(1), pages 91-99.
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