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Through breakthroughs in health services and education, these technologies have the power to better the lives of poor people in developing countries.
Cures for other diseases which are endemic in developing countries are also now possible, allowing people with debilitating conditions to live healthy and productive lives. Service and technology are the differentiators between countries that are able to tackle poverty effectively by growing and developing their economies, and those that are not.
The extent to which developing economies emerge as economic powerhouses depends on their ability to grasp and apply insights from science and technology and use them creatively.
Knowledge is the systemically integrated information that allows a citizen, a worker, a manager, or a finance minister to act purposefully and intelligently in a complex and demanding world.
The only form of investment that allows for increasing returns is in building the stocks and flows of knowledge that a country or organization needs, an in encouraging new insights and techniques.
Developments in science and technology are fundamentally altering the way people live, connect, communicate and transact, with profound effects on economic development.
To promote tech advance, developing countries should invest in quality education for youth, and continuous skills training for workers and managers.Adopting appropriate technologies leads directly to higher productivity, which is the key to growth.In societies that have large stock and flows of knowledge, virtuous circles that encourage widespread creativity and technological innovation emerge naturally, and allow sustained growth over long periods.Everyone is involved – big and small, public and private, rich and poor.The benefits that are certain to flow from technological revolution in an increasingly connected world and knowledge-intensive world will be seized by those countries and companies that are alive to the rapidly changing environment, and nimble enough to take advantage of the opportunities.Innovation is the primary driver of technological growth and drives higher living standards.As an engine of growth, the potential of technology is endless, and still largely untapped in Africa and other developing world regions across the globe.About 90 percent of the world’s population can access mobile networks, with three-quarters of mobile subscribers living in developing economies.Cellular technology has allowed Africa to leapfrog the age of fixed line telephony, bringing affordable access to millions of people.The investment climate is crucial, as are the right incentive structures, to guide the allocation of resources, and to encourage research and development.Successful countries have grown their ability to innovate and learn by doing, by investing public funding to help finance research and development in critical areas.