What Are the Binding Constraints for a Knowledge-Based Economy in Qatar?

Abstract

This study aimed to investigate the binding constraints on building a knowledge-based economy (KBE) in Qatar. The research used descriptive and qualitative approaches within the new institutional economics paradigm using data from the Global Entrepreneurship Monitor. Taking cognizance that natural-resource-driven economic development may not be sustainable, the Qatar National Vision 2030 was launched with the expectation that educational expansion and reform would turn Qatar’s carbon economy into a “knowledge economy”. The Qatari government’s National Development Strategy 2018–2022 has anchored the economic diversification agenda on building a knowledge-based economy. The findings demonstrated that per the Global Entrepreneurship Monitor analysis, compared with selected countries, Qatar scored relatively high across various dimensions of new institutional economics, including institution, governance, market, and culture. This shows that the knowledge-based economy in Qatar is developing. Several studies examined a variety of issues in building a knowledge-based economy in Qatar, but this is the first study to explore the binding constraints of building a knowledge-based economy in Qatar using the new institutional economics theory as a tool of analysis.