Knowledge, Innovation, and the Way Out of Poverty

Knowledge, Innovation, and the Way Out of Poverty http://www.globalpolicy.org/socecon/trade/unctad/2007/ldc2007_en.pdf

A UNCTAD report argues that even though most of the "World's Least Developed Countries" (LDCs) have opened their economies, thereby attracting foreign investments and increasing exports, these countries are not making the progress they should be in terms of economic development. The report argues that in addition to economic liberalization, LDCs need knowledge, skills and technological innovation to make their way out of poverty. Introducing new commercial products, improving the infrastructure, human capital and financial systems of the country, and upgrading the technology can advance growth and reduce the countries' poverty.