A ROLE OF GOOD GOVERNANCE IN THE KNOWLEDGE BASED ECONOMIC GROWTH: COMPARATIVE STUDY OF SELECTED COUNTRIES

Received: 13.06.2021; Revised: 22.07.2021, Accepted: 15.09.2021, Published Online: 29.09.2021

Manju Nandal

Research scholar, Department of Management Studies (DMS), Deenbandhu Chhotu Ram University of Science and Technology, Murthal,13109, India Email. Nandalmanju93@gmail.com

Anand Chauhan

Assistant professor, Department of management studies, Deenbandhu Chhotu Ram University of Science and Technology, Sonepat, India. Email:anandchauhan.mba@dcrustm.org

Abstract

PURPOSE

 Economic performance and institutional regime is often seen as driving force for sustainable long- term knowledge economic growth of any country.  Indian economy is one of the rapidly growing economies in this modern globalization world. Indian economy is enjoying the average economic growth of 7% from last two decades, but is this economic growth sustainable or only some short-term phenomena because of increasing consumer market, and increasing information sector. To achieve long-term sustainable growth innovative climate is very important. The purpose of this paper is to study the fundamental pillar of knowledge economy i.e. economic and institutional regime that provides overall framework for directing the economy and benchmarking India with Japan, Finland and Korea to examine India’s readiness towards Knowledge Economy.