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Status of Knowledge Based Economy in the Kingdom of Saudi Arabia: An Analysis

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  • Omar Salem Bashehab

Abstract

This paper highlights on the emerging issues that compelled Saudi Arabia in transforming its economy to a knowledge-based one. It discusses the pillars of a knowledge-based economy i.e. the institutional model; education; research and development (R&D); and information and communication technology (ICT) adopted by the World Bank Institute framework to analyze the status of a knowledge-based economy in Saudi Arabia. The primary objective of this article is to understand the status of the knowledgebased economy in the Kingdom of Saudi Arabia. Secondary data was collected for writing the paper. The nine developmental plans of Saudi Arabia (Ministry of Economy and Planning), Ministry of Education reports, Ministry of Communications and Information Technology reports, and Saudi Arabian Monetary Agency (SAMA) reports are some of the important sources of data. The government of Saudi Arabia has laid the foundation for transforming its economy to a knowledge-based one but more is required especially in the field of human resource development and innovation to expedite the easiness of the transforming process.

Suggested Citation

  • Omar Salem Bashehab, 2013. "Status of Knowledge Based Economy in the Kingdom of Saudi Arabia: An Analysis," Journal of Social and Development Sciences, AMH International, vol. 4(6), pages 268-277.
    • Handle: RePEc:rnd:arjsds:v:4:y:2013:i:6:p:268-277
    DOI: 10.22610/jsds.v4i6.761
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    Cited by:

    1. Agboola, Mary Oluwatoyin & Bekun, Festus Victor & Joshua, Udi, 2021. "Pathway to environmental sustainability: Nexus between economic growth, energy consumption, CO2 emission, oil rent and total natural resources rent in Saudi Arabia," Resources Policy, Elsevier, vol. 74(C).
    2. Oqab Alrashidi & Huy Phan, 2015. "Education Context and English Teaching and Learning in the Kingdom of Saudi Arabia: An Overview," English Language Teaching, Canadian Center of Science and Education, vol. 8(5), pages 1-33, May.

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