Measuring Individual Readiness to Enter the Knowledge Economy: A Case Study of Lahore

Abstract

The purpose of this study was to assess the readiness of the people of Lahore to move into the knowledge economy. To conduct this exercise an Individual Readiness Index (IRI) is designed, which is based on three sub-indexes: Awareness, Involvement, and the Contribution Index. Most studies, including on Pakistan, have analyzed the impact of the knowledge economy on the overall or macroeconomic performance of a country’s economy especially its contribution to total factor productivity and innovation. The thrust of our thesis is at the micro level as its aim is to identify and measure the determinants of the individual’s readiness for the knowledge economy.