The Knowledge Based Economy (KBE) and its effects are often recognized and discussed, but there are generally no agreed upon means to measure the progress towards a KBE or the lack of it. Focus group discussions at the Economic Development Board of Singapore helped validate knowledge indicators used by countries over the years against Singapore's economy in order to validate these indicators and propose new measures. The validation process also yielded specific recommendations for building up knowledge capabilities in terms of knowledge creation, acquisition, dissemination and application which will aid Singapore in formulating strategies for the KBE.
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