Abstract

Given demonstrated global knowledge inequality, this article attempts to draw out the connection between tertiary education and research (TER), economic development and infrastructure, and human development. We first explore the connection between knowledge and economic development by tracing a short history of the emergence of knowledge in economic analysis and by introducing the concept of a ‘knowledge economy’. The World Bank’s ‘Knowledge Assessment Methodology’ (2000) attempted to evaluate such ‘knowledge economies’ through a number of proposed variables. We describe relationships between such TER-variables, economic development, and infrastructure building, especially in the shift towards digital economies. We will show that there is a tangible, negative human impact from disparities in knowledge production, and significant improvement in human welfare when knowledge production capacities improve. Finally, we will illustrate how these relationships play out in two case studies, in Montenegro and Bangladesh.