The role of knowledge economy in Asian business

Abstract

The study examines the role of the knowledge economy (KE) in Asian businesses in 45 countries for 2000–2019. KE indicators include education, economic incentives, innovation, institutional regime, and information and communication technology. The business indicators used in the study are starting, doing, and closing business. The empirical analysis is carried out by applying principal component analysis (PCA) and instrument variable panel fixed effects estimator. The results proved that the KE indicators are essential to improve businesses in Asia. They help the economies to boost their business sector and help to fight against poverty and unemployment.