A knowledge-based economy employs the processes of acquiring, creating, disseminating, and applying knowledge for economic development. The aim of this research is to examine and compare the indicators and frameworks of the knowledge-based economy from the perspective of two international institutions: the World Bank and the Asia-Pacific Economic Cooperation. Employing a comparative analysis approach and documentary study, this research conducts a systematic comparison of these two frameworks. The findings indicate that although both institutions emphasize knowledge as the driving engine of economic growth, there are significant differences in the focus and classification of components. From the World Bank's perspective, the knowledge-based economy rests on four pillars: the economic and institutional regime, education and skills of individuals, information and communication infrastructure, and the innovation system. It emphasizes the role of the macro environment and governance institutions as a fundamental foundation. In contrast, Asia-Pacific Economic Cooperation introduces four dimensions: the innovation system, human resource development, information and communication technology infrastructure, and the business environment, focusing on operational and interactive aspects. By providing a matrix of detailed indicators, Asia-Pacific Economic Cooperation outlines a roadmap for policy-making at the sectoral level. The World Bank's measurement tool, the "Knowledge Assessment Methodology", is designed as a benchmark tool to assess countries' readiness to move towards a knowledge-based economy and identifies areas requiring focus and investment. The World Bank offers a "diagnostic compass," while Asia-Pacific Economic Cooperation provides an "action guidebook"; combining the two could serve as an optimal strategy for developing countries. An analysis of the performance of four countries (Finland, Singapore, South Korea, and Slovakia) demonstrates that sustainable success requires a balance across the pillars.