Technology Trap And Poverty Trap In Sub-Saharan Africa:
Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2008
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development |
| Beschreibung: | 1 Online-Ressource (34 Seiten)) |
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| 520 | 3 | |a Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development | |
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| spelling | Fofack, Hippolyte Verfasser aut Technology Trap And Poverty Trap In Sub-Saharan Africa Fofack, Hippolyte Washington, D.C The World Bank 2008 1 Online-Ressource (34 Seiten)) txt rdacontent c rdamedia cr rdacarrier Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development Online-Ausg Basic Components E-Business Economic Theory and Research Engineering ICT Policy and Strategies Industry Information and Communication Technologies Innovations Inventions Macroeconomics and Economic Growth New technologies Poverty Reduction Private Sector Development Pro-Poor Growth Semiconductors Simulation Technological infrastructure Technological innovations Technology Industry Fofack, Hippolyte Sonstige oth Fofack, Hippolyte Technology Trap And Poverty Trap In Sub-Saharan Africa http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4582 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Fofack, Hippolyte Technology Trap And Poverty Trap In Sub-Saharan Africa Basic Components E-Business Economic Theory and Research Engineering ICT Policy and Strategies Industry Information and Communication Technologies Innovations Inventions Macroeconomics and Economic Growth New technologies Poverty Reduction Private Sector Development Pro-Poor Growth Semiconductors Simulation Technological infrastructure Technological innovations Technology Industry |
| title | Technology Trap And Poverty Trap In Sub-Saharan Africa |
| title_auth | Technology Trap And Poverty Trap In Sub-Saharan Africa |
| title_exact_search | Technology Trap And Poverty Trap In Sub-Saharan Africa |
| title_exact_search_txtP | Technology Trap And Poverty Trap In Sub-Saharan Africa |
| title_full | Technology Trap And Poverty Trap In Sub-Saharan Africa Fofack, Hippolyte |
| title_fullStr | Technology Trap And Poverty Trap In Sub-Saharan Africa Fofack, Hippolyte |
| title_full_unstemmed | Technology Trap And Poverty Trap In Sub-Saharan Africa Fofack, Hippolyte |
| title_short | Technology Trap And Poverty Trap In Sub-Saharan Africa |
| title_sort | technology trap and poverty trap in sub saharan africa |
| topic | Basic Components E-Business Economic Theory and Research Engineering ICT Policy and Strategies Industry Information and Communication Technologies Innovations Inventions Macroeconomics and Economic Growth New technologies Poverty Reduction Private Sector Development Pro-Poor Growth Semiconductors Simulation Technological infrastructure Technological innovations Technology Industry |
| topic_facet | Basic Components E-Business Economic Theory and Research Engineering ICT Policy and Strategies Industry Information and Communication Technologies Innovations Inventions Macroeconomics and Economic Growth New technologies Poverty Reduction Private Sector Development Pro-Poor Growth Semiconductors Simulation Technological infrastructure Technological innovations Technology Industry |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4582 |
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