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The Knowledge Economy: A New Development Paradigm for Latin America and the Caribbean (LAC)

The Knowledge Economy: A New Development Paradigm for Latin America and the Caribbean (LAC)

Danilo Piaggesi, Maria J. Chea
Copyright: © 2011 |Pages: 14
ISBN13: 9781609604899|ISBN10: 160960489X|EISBN13: 9781609604905
DOI: 10.4018/978-1-60960-489-9.ch026
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MLA

Piaggesi, Danilo, and Maria J. Chea. "The Knowledge Economy: A New Development Paradigm for Latin America and the Caribbean (LAC)." Global Strategy and Practice of E-Governance: Examples from Around the World, edited by Danilo Piaggesi, et al., IGI Global, 2011, pp. 464-477. https://doi.org/10.4018/978-1-60960-489-9.ch026

APA

Piaggesi, D. & Chea, M. J. (2011). The Knowledge Economy: A New Development Paradigm for Latin America and the Caribbean (LAC). In D. Piaggesi, K. Sund, & W. Castelnovo (Eds.), Global Strategy and Practice of E-Governance: Examples from Around the World (pp. 464-477). IGI Global. https://doi.org/10.4018/978-1-60960-489-9.ch026

Chicago

Piaggesi, Danilo, and Maria J. Chea. "The Knowledge Economy: A New Development Paradigm for Latin America and the Caribbean (LAC)." In Global Strategy and Practice of E-Governance: Examples from Around the World, edited by Danilo Piaggesi, Kristian Sund, and Walter Castelnovo, 464-477. Hershey, PA: IGI Global, 2011. https://doi.org/10.4018/978-1-60960-489-9.ch026

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Abstract

The escalating competitiveness in the international global economy has created a growing demand for the creation and diffusion of knowledge. A Knowledge Economy (KE) is one that by creating and taking advantage of new knowledge can dramatically increase the wealth of a nation. Many countries have grown to become successful knowledge economies including Finland, the United States and most recently Korea, China and India. Latin American and Caribbean countries are faced with the predicament of being left behind because of their low quality of education, their weak macroeconomic base and their poor infrastructure on information and communication technologies (ICT). There are several indicators that need to be improved to establish a base for knowledge economy such as laws, improvement and creation of research and development institutions, education infrastructure, comprehensive intellectual property rights, ICT networks, and knowledge transfers between research institutions and local enterprises. This chapter brings in the concept of the KE as a new development paradigm for Latin America and the Caribbean region.

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