Summary
Contents
Subject index
Knowledge Economy: The Indian Challenge addresses the challenge of transforming the Indian economy into a knowledge economy. It looks at change management of the economy and highlights issues such as:
Economic trends and critical activities contributing to the desired change; Educational issues for preparing the human resources; Structural issues for developing institutional frameworks; Societal issues for ultimately benefiting the stakeholders
Mapping the Directions of Transition from Industrial Economy to Knowledge Economy∗
Mapping the Directions of Transition from Industrial Economy to Knowledge Economy∗
Introduction
Knowledge is increasingly becoming a more valuable asset than traditionally focused labour and capital used by economists for developing models of economic growth. Yet knowledge being abstract and subjective is difficult to evaluate. Managing knowledge is a process which involves a multi-period decision framework starting from investments in research and development (R&D), to diffusion of knowledge, to creation of innovations and finally to capturing value through commercialization of inventions and innovations. The whole process is ridden with uncertainties and difficulties in managing the complexities. The public policy challenge confronting governments is, therefore, to design programmes and systems that would reduce uncertainties ...
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