Knowledge-Based Economy: Enhancing Economic Growth and Development of Human Capital Through Information and Communications Technology Education

Abstract

Globalization and the rapid development of Information and Communications Technology (ICT) have advantaged economies which have invested in (re)skilling their human capital in technical knowledge. Similarly, ICT have spearheaded the growth and development of industrial and service sectors in emerging economies. This accounts for the progress of some Asian economies and the lagging behind of many sub-Saharan African countries, including Ghana. Primarily, reorientation of economic development strategy and human development policy in tandem with the demands of knowledge-based economy (KBE) and related development in ICT explain the differences among the world's economies. Our chapter discusses the extent to which ICT has been incorporated into the educational system to transform it from traditional education in order to reskill human capital in postprimary schools to support the creation and growth of KBE in Ghana. Moreover, the chapter assesses whether ICT infrastructure and syllabuses at postprimary schools meet the challenges of a KBE and an enhanced growth development in Ghana. Using the theories of evolutionary economic change, new growth, technology and knowledge gap, we intend to analyze the progress and challenges faced by Ghana as it strives to build a KBE that thrives on innovation and creativity, which in turn drive economic growth and development. In this respect, we examine postprimary schools in Ghana.

Citation

Kurantin, N. and Osei-Hwedie, B.Z. (2021), "Knowledge-Based Economy: Enhancing Economic Growth and Development of Human Capital Through Information and Communications Technology Education", Bhattacharyya, R. (Ed.) Comparative Advantage in the Knowledge Economy, Emerald Publishing Limited, Leeds, pp. 1-10. https://doi.org/10.1108/978-1-80071-040-520210001