El papel de la economía del conocimiento (KE) sobre la dinámica de los negocios: evidencia empírica para América Latina

Abstract

This document evaluates the role of the knowledge economy (KE-knowledge economy) about the dynamics of business in 17 Latin American countries in an annual period of time between 2003-2016. The four dimensions of the KE defined by the World Bank Group (WB) were used: Education, Technologies of Information and Communication (ICT), Economic Incentives, Institutional Regime and Innovation. While the dynamics of business is given by: initiation, operation and ending. The analysis of principal components and the fixed-effect model of linear regression with standard mistakes corrected by panel (PCSE) are used as the main estimation strategies. The findings, consistent with intuition and economic theory, suggest that 3 (ICT, institutional regimen and innovation) of the 5 dimensions of the KE will have multiplier effects on the dynamics of Latin American business because it will improve the competitiveness of its business at a national and international level. However, the region shows a limitited formation in highly productive undertakings and innovation as a main factor in competitiveness still stay behind because it is supported by governments. Also, about the knowledge economy index (KEI), Chile is the best positioned country, having advantages in accumulation of knowledge respect other countries.