Why do developing countries have less technology?

New technologies tend to reduce prices of goods and services to which they are applied. They also lead to the creation of new products. Consumers benefit from these improvements, regardless of whether they live in the developed world or the developing one.

More importantly, low levels of investment in research and development, low enrolment rates in higher education and thus a limited supply of skilled labor, and inadequate or unstable policy and regulatory environments capable of promoting progress, all play a role in the poor state of science, technology and innovation …

In economics, it is widely accepted that technology is the key driver of economic growth of countries, regions and cities. Technological progress allows for the more efficient production of more and better goods and services , which is what prosperity depends on.

A few developing nations are exhibiting stronger capabilities to use, adopt and adapt frontier technologies than their per capita GDPs would suggest , but most are lagging behind, according to an index of 158 countries in UNCTAD’s Technology and Innovation Report 2021 released on 25 February.25 Şub 2021