Examining the Global Knowledge Index: A Confirmatory Factor Analysis Approach.

Abstract

Growing emphasis from researchers and politicians has been placed on the knowledge economy, recognizing its crucial role as a cornerstone for sustainable development. However, researchers face a challenge in finding an accurate indicator to measure the extent to which each country is compatible with the knowledge-based economy. The Global Knowledge Index (GKI) represents the most comprehensive. This study seeks to investigate the degree to which the data aligns with the envisaged standard model across a sample of 133 countries in the year 2022. We use confirmatory factor analysis (CFA) to confirm the validity and accuracy of the GKI. The results indicated a poor fit of the data to the model. These outcomes might stem from the reliance on data from the second branch of the GKI during estimation or the potential insufficiency of variables included in capturing the primary indicators of the index. We propose directions for future research, recommending an exploration of the fourth branch in estimation or the inclusion of additional variables to improve the precision of the model.