Nguyen and Pham set out to examine the relationship between scientific research (measured by patents and number of publications and citations) and the ‘knowledge economy index’ (KEI) in ASEAN. The KEI, developed by the World Bank, allows us to assess a country’s performance in the adoption and diffusion of knowledge2. That is, its preparedness for moving towards a ‘knowledge economy’, a term that emphasizes the importance of knowledge, knowhow and skills in driving the economy. Economic development is directly related to technological competitiveness, which in turn is made possible by scientific research.
“Compare the farmer in Vietnam who works in a rice field and earns $500 a year with the producer of microchips in Singapore who earns four times that in one hour,” said Nguyen. “In a very simple way, that explains the knowledge economy – the knowledge and technological capability behind what you sell.” Entire article here