Knowledge-Based Economy as a Foundation for the Economic Development of Countries

Abstract

This paper highlights the relationship between knowledge and economic development. The study considers nine countries grouped in three different development Asian group ranked highest for innovation as shown through the application of patents; they also obtained the highest scores in the PISA test. The Anglo-Saxon group stood out by having a good institutionalized knowledge system. From the European group, Germany is recognized by its innovation capabilities and the Netherlands by the quality of its higher education.