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Knowledge Economy Readiness

Understanding Knowledge Economy Readiness in Higher Education

Knowledge economy readiness refers to an institution’s or nation’s capacity to produce, adapt, and apply knowledge to drive innovation, productivity, and economic growth.

Glossary Terms
Term
Description
Knowledge Economy Readiness

The extent to which systems and institutions are prepared to support innovation-driven growth through education and R&D.

Human Capital Development

Strategies for building a skilled, educated, and adaptable workforce.

Research Commercialization

The process of transforming academic research into market-ready solutions.

Digital Literacy Index

A metric used to assess workforce readiness in digital competencies.

R&D Investment

Funding allocated to research, innovation, and academic-industry partnerships.

Innovation Ecosystem

The network of institutions, policies, and actors supporting knowledge-driven development.

Evolving National Strategies

Higher ed institutions are aligning curricula with national economic plans and digital transformation goals. Regional readiness is often benchmarked via World Bank and OECD knowledge economy indices.