Effects of the Knowledge-Based Economic Variables on
Subject Areas : Technology ManagementKeywords: High-tech Industries, ICT, R&D, Education, Knowledge Based Economy, Panel Data.,
Abstract :
Knowledge based economies are more strongly dependent on the production, distribution and use of knowledge than ever before. Output and employment are expanding fastest in high-technology industries, such as computers, electronics and aerospace. High-tech refers to technology that is at the cutting edge and the most advanced technology available. High technology industries and services are central part of knowledge-based economy, and one of the main economic indicators for measure the knowledge in economic. In this paper, we introduce the principles and indicators of high-tech industries and analysis effect of the knowledge-based economy variables (ICT, R&D and Education expenditures) on their production. We have developed a model of high-tech industries production. This model has been estimated for 48 countries in 2000-2007 with using GLS Panel Data Approach. The results of the analysis show a positive and significant effect of ICT, R&D and education on high-tech industries .Elasticity calculation shows one percent increase in R&D will result 0.48 present increases in high-tech industrial production, Also one percent increase in ICT will result 0.68 present increases in high-tech industrial production and finally one percent increase in Education will result 0.29 percent increase on high-tech industrial production. So we require a lot of attention to R&D, ICT and Education in program and policy development of high tech industries.