Role of Higher Education in Creation of Knowledge Economy in Punjab, Pakistan

Abstract

Knowledge is working as an engine in achieving sustainable economic development goals for societies who are shifting from labor intensive economy to knowledge based economy like Pakistan. Education works like a backbone in knowledge based economies. Hence, the current research is planned to find out that is the educational institutions of Pakistan are contribution in production of new knowledge or not. Survey was the technique used by researcher for collection of information. Tool for gathering data was questionnaire and sample was selected from six public and private universities of Punjab Pakistan by applying simple random technique while the sample size was comprised of 606 respondents. Both descriptive and inferential statistical techniques were considered to analyze the data. Association found between the efforts made by higher educational institutions by providing access to knowledge, rich infrastructure, funds, incentives, research and development, human capital development, collaboration with industry and creation of knowledge economy.