Abstract: Technology and innovation are at the basis of economic development and as such, they are instrumental for developing countries. However, the process of innovation is still a challenging subject of research in economics, and most efforts have concentrated on the understanding of the process in industrialized countries rather than in developing countries.
The importance of South-South Cooperation is growing. Developing countries are increasingly becoming home countries for Foreign Direct Investment (FDI) flows originating from other developing countries. Since the late 1990’s, aid from one developing country to another developing country appears even to grow faster than aid from developed to developing countries. This is the consequence of the increasing acknowledgment of Southern countries that they share common goals and that the chances of achieving these goals grow if they act together. South-South trade is growing at an estimated rate of 10% per year. The Southern countries achieve broad-based increases in the volume and value of their trade in manufactures, services and commodities. Over 40% of exports of developing countries are being sent to other developing countries. This also has an impact on the economy. During the past three decades, developing country economies have grown much faster than the developed and transition economies. Since 2003 developing countries have been the top economic performers in the world.
Keywords: Innovation and Technology, Developing countries.
Title: Promoting Innovation and Technology in Southern Countries
Author: Farah Rahal
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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