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- World Investment Report 2005
- Chapter
Introduction
- Author: United Nations Conference on Trade and Development
- Main Title: World Investment Report 2005 , pp 99-100
- Publication Date: October 2006
- DOI: https://doi.org/10.18356/a7e6a234-en
- Language: English
Bridging the technology gap between countries is necessary to foster sustainable economic development. Technology is advancing faster than ever before. Developing countries that fail to build capabilities enabling them to participate in the evolving global networks of knowledge creation risk falling further behind in terms of competitiveness as well as economic and social development. While international technology transfer can bring important knowledge to an economy, that alone is not enough. Using new technologies efficiently requires creating additional absorptive capacity, while a continuous effort has to be made to keep up with technical change. This is particularly true given the fact that wages tend to rise as a country develops, facilitating the entry of lower cost competitors in the market. While actions of both domestic enterprises and the government are essential to build technology capabilities in developing countries, TNCs can also play a role.
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