Ours Growth Theirs Benefits

Ours Growth Theirs Benefits
Strong growth in developing countries is likely to cushion the impact of the US downturn and of global financial market volatility over the next two to three years, predicts Global Economic Prospects 2008: Technology Diffusion in the Developing World. The report also examines the advancement of technology in developing countries since the early 1990s. It reveals on the one hand that technological progress in developing countries has been much faster than in high-income countries--reflecting increased exposure to foreign technology. On the other hand, the technology gap remains large, and the domestic factors that determine how fast technologies spread often stymie progress, especially among low-income countries.