Download Korea and the knowledge-based economy: making the transition by Thomas Andersson, Carl Dahlman PDF

By Thomas Andersson, Carl Dahlman

As an enter to Korea's efforts to revise the country's improvement method, the OECD and the realm financial institution have ready a joint assessment of the demanding situations confronting Korea in its transition to a knowledge-based economic system. The record proposes a four-pronged framework so that it will empower Korea to successfully faucet into expertise advances and the starting to be inventory of knowledge:
1. An financial and institutional regime that offers incentives for the effective use of latest wisdom, for the construction of recent wisdom, for the dismantling of out of date actions and for the start-up of extra effective new ones.
2. an informed and entrepreneurial inhabitants which could either create and use new knowledge.
3. A dynamic info infrastructure that could facilitate powerful conversation, dissemination and processing of information.
4. an effective innovation process comprising corporations, technological know-how and study facilities, universities, imagine tanks, specialists and different organisations that may engage and faucet into the transforming into inventory of world wisdom; assimilate and adapt it to neighborhood wishes; and use it to create new wisdom and technology.
The document addresses extra demanding situations with appreciate to the improvement of knowledge-based actions, and of constructing an total framework for the layout and implementation of extra constant regulations conducive to the knowledge-based economic climate.

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Korea and the knowledge-based economy: making the transition

As an enter to Korea's efforts to revise the country's improvement process, the OECD and the area financial institution have ready a joint evaluate of the demanding situations confronting Korea in its transition to a knowledge-based financial system. The record proposes a four-pronged framework that allows you to empower Korea to successfully faucet into expertise advances and the starting to be inventory of knowledge:
1. An monetary and institutional regime that offers incentives for the effective use of current wisdom, for the construction of latest wisdom, for the dismantling of out of date actions and for the start-up of extra effective new ones.
2. an informed and entrepreneurial inhabitants which may either create and use new knowledge.
3. A dynamic info infrastructure which can facilitate powerful verbal exchange, dissemination and processing of information.
4. an effective innovation approach comprising organizations, technological know-how and learn facilities, universities, imagine tanks, specialists and different enterprises that may engage and faucet into the becoming inventory of world wisdom; assimilate and adapt it to neighborhood wishes; and use it to create new wisdom and technology.
The document addresses extra demanding situations with appreciate to the improvement of knowledge-based actions, and of establishing an total framework for the layout and implementation of extra constant rules conducive to the knowledge-based economic climate.

Extra info for Korea and the knowledge-based economy: making the transition

Example text

A further round of consultations took place within government agencies and research institutions to chart out the various action plans as part of the implementation strategy. This part of the process is expected to be completed in March 2000. Preliminary details of the plan were announced at the beginning of April 2000. 12. See Chapter 7 for the most recent developments in the institutional responsibilities surrounding implementation of the knowledge-based development strategy. 13. The financial sector is perhaps the most information-intensive sector in the economy.

This requires researchers and technicians across a spectrum of information technologies, a workforce that can use the new production technologies and a general population that can use electronic products, computers, software and information services effectively. Addressing these needs will require developing education and training policies, institutions and programs to prepare the appropriate human resources. While the government does not need to provide any of these services itself, it can play a key co-ordination role in identifying needs and weaknesses, ensuring that the necessary skills are developed and setting in motion the mechanisms to achieve these goals.

Besides the economic efficiency argument, there is an equity argument for removing these labor market rigidities which protect the interests of a minority of the workforce that is unionized at the expense of interests of the vast majority of the workers who are not unionized and who typically earn much less. • Strengthening the social safety net will go some way to protecting workers from the higher frictional unemployment associated with more flexible markets. 6 to 1% in 1998, it needs to be re-evaluated to assure its financial viability over the longer term.

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