KNOWLEDGE ECONOMY: FEATURES AND INDICATORS ANALYSIS

Abstract

The article reveals the essence of the knowledge economy and identifies problematic aspects in its theoretical justification. The author proposes his own definition of the knowledge economy based on the analysis of different approaches to defining the concept. The article highlights the role of innovation, science, and education in shaping the knowledge economy. It also points out the complexity of assessing the level of development of the knowledge economy due to the lack of a comprehensive approach to quantifying accumulated and created knowledge. The article emphasizes the importance of growing inequality caused by the lack of access to knowledge through quality education and digital technologies in certain regions. The labor market in the context of the knowledge economy is characterized by unstable labor relations. The author proposes an assessment based on key indicators (aspects), such as the Global Knowledge Index, the Global Innovation Index, the Human Development Index, the scientific content of GDP, the number of applications for patent cooperation agreements, and the cluster approach to economic development, which allow for the assessment and determination of the level of development of the knowledge economy in different countries. Special attention is paid to analyzing China's experience in building a knowledge-based economy. The author covers government policies to support high-tech industries, the combination of planning and market incentives, and the development of large-scale national programs. It emphasizes China's leadership in ICT development, increased investment in science and education, the importance of human capital, and the creation of innovative clusters and venture capital ecosystems. The author presents a comparative analysis based on key indicators, which helps to identify key differences and determine areas for development.