Manasi Kulkarni
Title: KNOWLEDGE-BASED ECONOMY FOR SUSTAINABLE ECONOMIC DEVELOPMENT: THE CASE OF INDIA
Supervisor: Dr. Erkki Karo
Opponent: Mahardika Fadmastuti
Defense: 5 June 2023
Abstract: Knowledge and Innovation have been seen to make a positive impact on the economic growth of a country. The economic growth of the country revolves around introduction and dessimination of new technologies and ideas, which tend to break the monotonous repetitive cycle and bring about change and surge in growth. Schumpeter talks specifically about the relevance of innovation and education for development of catchin-up nations and how they can achieve rapid development by adapting these (Schumpeter, 1939). This paper analyzes the concept of Knowledge-based economy for sustainable economic development, for developing nations and projecting it for the case of India. Incorporating evidences from previous research papers, articles and reports, with the help of Schumpeter’s Theory of Economic Development and study of the four pillars of Knowledge-based economy model, this study derives a suitable development model for developing nations. This will show how these developing nations can benefit from transitioning into a Knowlede-based economy, and create a firm foundation for further economic development. It puts forward the study of challenges, key enablers and suggested developments for Indian case in order to benefit from the transition.
Keywords: Knowledge-based; sustainable; innovation; adult education; lifelong learning; economic development; policies; ICT; transition
