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First, the paper examines fundamental epistemological assumptions of the literature on the knowledge economy to identify major views on the knowledge economy. Second, it synthesizes relevant studies of the knowledge economy to develop key concepts to be used in the theoretical model of the knowledge economy.<\/jats:italic><\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-heading\">Findings<\/jats:title><jats:p><jats:italic>The paper argues that among three views of the knowledge economy (i.e., knowledge\u2010as\u2010asset, knowledge\u2010as\u2010relation, and knowledge\u2010as\u2010capability views), the knowledge\u2010as\u2010capability view is the most appropriate to explain the knowledge economy. However, this view is still evolving to explain the knowledge economy. Only a few studies have discussed national capabilities, but they omitted many points of capability as an aspect of knowledge. Although many studies have discussed organizational capabilities and provided some insight, these ideas are not directly applicable at the national level.<\/jats:italic><\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-heading\">Practical implications<\/jats:title><jats:p><jats:italic>This paper suggests that to develop a knowledge economy a national government should be concerned about the balanced development of the whole system of the economy, while paying due attention to knowledge\u2010related activities.<\/jats:italic><\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-heading\">Originality\/value<\/jats:title><jats:p><jats:italic>This paper proposes a theoretical model of the knowledge economy, using original concepts of three types of national basic capability, i.e., epistemic capability, economic capability, and institutional capability and national developmental capability as the meta\u2010capability of leveraging, orchestrating, and restructuring those basic capabilities.<\/jats:italic><\/jats:p><\/jats:sec>","DOI":"10.1108\/13673270910988169","type":"journal-article","created":{"date-parts":[[2009,10,5]],"date-time":"2009-10-05T11:48:11Z","timestamp":1254743291000},"page":"359-372","source":"Crossref","is-referenced-by-count":13,"title":["Modeling the development toward the knowledge economy: a national capability approach"],"prefix":"10.1108","volume":"13","author":[{"given":"Duc","family":"Dang","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Katsuhiro","family":"Umemoto","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"140","reference":[{"key":"key2022021720381444600_b1","doi-asserted-by":"crossref","unstructured":"Abramovitz, M. 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