KNOWLEDGE ---- A CRITICAL FACTOR OF ECONOMIC DEVELOPMENT

 INTRODUCTION: HI EVERYONE!  I am Chandan. I have written about knowledge-based economies. Which are technologically advanced. If you are interested to read and learn about it. You may visit this blog. I hope you will like it. So in this article you will learn about developed economies and countries of the world.

Knowledge-based Economies of the world.

1 A strong consensus, reflected in recent policy statements from the OECD, the World Bank, and other international organizations,has emerged in recent decades and it states: knowledge is the most important factor of economic development.

For example, an OECD report concluded that "underlying long- term growth rates depends on maintaining and expanding the knowledge base." The World Bank's World Development Report states that "Today's most technologically advanced economies are truly knowledge-based .......creating millions of knowledge- related jobs in an array of disciplines that have emerged overnight," and also says that ..... the need for developing countries to increase their capacity to use knowledge cannot be overstated.

2 "It is in this perspective that improving this capacity has become a prerequisite for sustained economic growth and improved quality of life.

3 In the present context, the most important aspect of knowledge, of course, is scientific and technological capacity.

4 The Organization for Economic Cooperation and Development ( OECD) is a unique forum where the governments of 36 member states with market economies work with each other, as well as with more than 70 non- member economies to promote economic growth, prosperity, and sustainable development.

5 The countries which are members of OECD. They are following: 

Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Iceland, Sweden, Switzerland, Ireland, Latria, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, and The United kingdom.

6 India is now the 27th member of the centre, joining many OECD as well as Argentina, Brazil, and Chile. 

7 OECD was founded in 1961.