Global Economic Prospects 2008: Technology Diffusion in the by World Bank

By World Bank

Know-how and technological growth are important to monetary and social health. The production and diffusion of products and prone are serious drivers of monetary development, emerging earning, social and clinical development. international financial clients 2008: know-how Diffusion within the constructing international examines the country of know-how in constructing nations and the speed with which it has complicated because the early Nineteen Nineties. It finds either encouraging and cautionary traits. at the one hand, the velocity of technological development in constructing nations has been a lot quicker than in high-income nations reflecting elevated publicity to overseas know-how due to linkages with high-skilled Diasporas and the outlet of those international locations to overseas exchange and international direct funding. however, the expertise hole continues to be huge, and the family components that confirm how fast applied sciences unfold inside of constructing international locations usually stymie growth, in particular between low-income international locations. Repeating the quick development of this previous decade might be tricky and will require that easy expertise literacy is greater extra; that executive efforts to conform and disseminate pre-existing applied sciences during the financial system are reinforced; and that regulatory regimes are transformed to motivate enterprise innovation. This yr s international monetary clients comes at the heels of a longer interval of robust progress and a 15-year interval of robust functionality in a lot of the constructing international, which has contributed to vast declines in worldwide poverty. whereas excessive oil costs and heightened industry volatility might sign a coming pause during this strategy, over the long run endured technological development may still proceed to ward off poverty. the worldwide financial customers offers crucial info for these fascinated with advancements shaping trendy worldwide financial system.

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Extra info for Global Economic Prospects 2008: Technology Diffusion in the Developing World

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A number of factors are likely to shape the growth profile for the Middle East and North Africa region. A softening of OECD demand is anticipated for 2008, although it may be accompanied by additional firming of global oil prices tied to continued robust demand in emerging markets. 4 percent. As the global environment improves by 2009, the Middle East and North Africa region should be able to maintain the broader pace of growth established in 2008 for several more years. Domestic conditions will vary decidedly across the 30 disparate economies of the region, as will efforts at reform, which in most cases are aimed at spurring private sector or non-oil activity.

1 percent in 2009 as external demand revives and given easing pressures on 32 the import bill as oil price gains diminish. Domestic demand is anticipated to revive into 2009, assuming inflation conditions permit some easing of monetary policy in the second half of 2008. Growth in Sub-Saharan Africa looks poised to remain buoyant by historic standards, maintaining a growth pace near 6 percent from 2007 through 2009, notwithstanding slowing demand in the United States and the Euro Area. 1 percent for 2007 as a whole.

Emerging market bond spreads declined to record lows, and equity prices increased rapidly in many developing countries during the first half of 2007. S. mortgage market (subprime and “alt-A” loans), and hence the value of many asset-backed securities was grossly overestimated. S. subprime mortgage market spilled over into equity, currency, and bond markets worldwide. S. 1). S. Federal Reserve and the European Central Bank provided ample liquidity to the banking system to help stabilize financial conditions.

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