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Industrial Development Report 2016

The Role of Technology and Innovation in Inclusive and Sustainable Industrial Development

image of Industrial Development Report 2016
This report looks at how technology and innovation achieves inclusive and sustainable industrial development (ISID). Its main finding is that ISID is feasible and technology can simultaneously serve all three dimensions of sustainability, including economic, social and environmental. Rapid inclusive and sustainable industrialization can happen more frequently provided that policymakers firmly steer the industrialization process with opportune policies and avoid past mistakes. In some cases, the spread of technology has not materialized in concrete growth opportunities because of the lack of technological capabilities. Innovation needs to be supported by interventions strengthening the process from invention to adoption, as capabilities are developed and high tech manufacturing sectors are created, seeing higher rates of sustainable growth.

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Designing and implementing inclusive and sustainable industrial development policies

Industrial policy-makers face huge challenges in designing and implementing policy frameworks adapted to their own country’s resource endowments, economic and political systems, new products and processes and the changing international geography of production and consumption. Previous chapters discussed the importance of technology and innovation as critical drivers of structural transformation—and as enablers of growth that is not only long-lasting but also mindful of environmental boundaries and the imperatives of social inclusion.

English

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