Criteria for Knowledge Economy Overview
The proposition for a Knowledge Economy addresses many of the governance components essential to meet the criteria for adoption of an Innovative System.
The proposition is to consolidate and broaden upon the World Bank Knowledge Assessment Methodology (KAM) as the core and fundamental requirements for a country to participate in the knowledge economy.
The following lists contains the essentials to receive the benefits and recognition and stakeholder based upon the KAM criteria.
The following is an aggregate of the KAM criteria requirements for a country to have a sound economic and institutional regime, education system, information infrastructure, and innovative system.
- Fiscal System: The deficit policy would be supported by rules to serve as operatics for the control of government spending, such as stimulus and sunset clauses, performance budgeting, indexing of an income tax system, and requirements to passage of tax-raising legislation.
Government spending would be set at a fixed percentage relative to the Gross Domestic Product (GDP).
- Conducive Investment Climate: To be made up of equalities with regulations that supports uniform standards for all its regional and subregional enterprise commerce.
Target directed criteria to support policy and rules that build upon demands for capital absorption in speculative and asset based investment and lending policies with transparency and accountability.
The creation of an investment climate includes equality within its uniform processes, laws, regulations and standards giving focus to simplifying business process, building integrated markets, review acts, and clarity to investments that have a common interest to the government.
- Speed Legal Process: The need addresses standard time bound procedures that establish equalities in fair representation in the resolving of disputes.
Such application of a regulatory system would support a uniform standard for all its regional and subregional enterprise conflicts.
The speed legal process would address uniformity rules making for transitional operations through filing, evidence, arguments, judgment, appeal, and penalties.
- Unified Taxation policy: An equitable tax rate is to be levied on individuals, property, and commercial enterprise as a percentage based upon income revenue gains.
The taxation policy to government support operations include, but not limited to, enforcement of laws and contracts, infrastructure, public services and utilities, education, healthcare, pensions, unemployment, waist management, and energy.
- Simplified Tariff Tax: Tariff taxes may be established on all imports and exports for rail services, highway, and energy.
- Civil & Social Infrastructure: Such infrastructure includes the services and facilities necessary for an economy to function.
The necessary services and facilities include rail, road, radio, telecommunications, power distribution, water, sewage and waste management, fire departments, social services, and hospitals. Infrastructures are to be sufficient to resolve beginning to end solutions capable of transportation of raw material to a factory and from the factory to market.
- Education Infrastructure: An educational infrastructure includes, but not limited to, professional certification registrar and regulatory processes, public schools systems, higher education institutions, libraries, and adult learning centers.
- Information Infrastructure: Such infrastructures include, but not limited to, radio and television broadcasting, telephone services, broadband communications, and satellite.
- An Innovation System: Systems functionality within a unified working method bringing systems together such as the fiscal deficit systems, investment systems, judicial processes, taxation systems, civil and social systems, and educational systems using a country’s information infrastructures.
Such purposes include, but not limited to, the productive and use of knowledge among governance departments, firms, enterprises, research centers, institutions, universities, think tanks, consultants, and other organizations.