Knowledge economy — global challenges for economic development

Abstract

The paper stresses the importance of knowledge-based economy for growing well-being, which in turn relies on «knowledge-intensive » parts of economies. On the bases of international organizations reports it is mentioned, that economic and institutional regime, an educated and skilled population, efficient innovation system, Information and Communication Technologies create four pillars that help countries articulate strategies for their transition to a knowledge economy. It is reported, that developing countries face complex problems on the way to move towards the knowledge economy, that may overcome by right strategies of governments and firms.