science

Knowledge Economic Index

Knowledge Economic Index is a science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Knowledge Economic Index rather than just read about it. In short: The Knowledge Economy Index (KEI) was designed as a tool for benchmarking a country's position in relation to others in the global knowledge economy. It was created by the World Bank Institute using the Knowledge Assessment Methodology (KAM).

Key takeaways

Knowledge Economic Index belongs to science; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Knowledge Economic Index to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Knowledge Economic Index from memory before moving on to harder problems.

Reference excerpt

The Knowledge Economy Index (KEI) was designed as a tool for benchmarking a country's position in relation to others in the global knowledge economy. It was created by the World Bank Institute using the Knowledge Assessment Methodology (KAM). The World Bank discontinued the index after 2012 and it was replaced by The Global Knowledge Index (GKI) from Knowledge4All, a joint initiative between the United Nations Development Programme (UNDP) and the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF). Criteria listed in a European Bank for Reconstruction and Development (EBRD) document on the KEI published in 2019 include institutional & legal frameworks (as a basis for patents etc.), number of technical graduates, research spending, number of patents, some measure of collaboration, and amount of venture capital. In total, 38 contributing indicators are described in the EBRD index methodology.

Knowledge Index The Knowledge Index (KI) is an economic indicator prepared by the World Bank Institute to measure a country's ability to generate, adopt and diffuse knowledge. Methodologically, the KI is the simple average of the normalized performance scores of a country or region on the key variables in three Knowledge Economy pillars – education and human resources, the innovation system, and information and communication technology (ICT).

Knowledge Economic Index The Knowledge Economy Index (KEI) takes into account whether the environment is conducive for knowledge to be used effectively for economic development. It is an aggregate index that represents the overall level of development of a country or region towards the Knowledge Economy. The KEI is calculated based on the average of the normalized performance scores of a country or region on all 4 pillars related to the knowledge economy - economic incentive and institutional regime, education and human resources, the innovation system and ICT.

The 4 pillars of the Knowledge Economy framework An economic and institutional regime to provide incentives for the efficient use of existing and new knowledge and the flourishing of entrepreneurship; An educated and skilled population to create, share, and use knowledge well; An efficient innovation system of firms, research centers, universities, consultants and other organizations to tap into the growing stock of global knowledge, assimilate and adapt it to local needs, and create new technology; Information and communication technology to facilitate the effective creation, dissemination, and processing of information.

KEI and KI indexes by country

References

Further reading "Measuring Knowledge in the World's Economics: Knowledge Assessment Methodology and Knowledge Economy Index" (PDF). World Bank Institute, Knowledge For Development Program. Archived from the original (PDF) on 2022-05-20. Retrieved 2018-11-04.

Worked examples

Example 1 — a first encounter with Knowledge Economic Index

Start with the simplest possible case. Write down what Knowledge Economic Index claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Knowledge Economic Index before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Knowledge Economic Index ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Knowledge Economic Index

In research: Knowledge Economic Index appears in science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Knowledge Economic Index in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Knowledge Economic Index is common in secondary-school and first-year university syllabi. It links to neighbouring topics Economic indicators, Knowledge economy, World Bank, so understanding it makes those chapters shorter.
In everyday life: Look for Knowledge Economic Index outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Knowledge Economic Index in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Knowledge Economic Index means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Knowledge Economic Index out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Knowledge Economic Index in simple terms?

Why does Knowledge Economic Index matter?

Because it connects several science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Knowledge Economic Index?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Knowledge Economic Index.