Strategic Integration of Science and Technology in Economic Development
DOI:
https://doi.org/10.55544/jrasb.4.5.15Keywords:
Science and Technology, Economic, DevelopmentAbstract
The strategic integration of science and technology (S&T) plays a pivotal role in accelerating economic development in the contemporary globalized economy as well as science and technology is widely recognized as an important tool for fostering and strengthening the economic and social development of the country. Advances in scientific and technological knowledge made possible the significant reductions of poverty and improvements in the quality of life in both developed and developing countries throughout the 21th century. In the future, the ability of countries to access, comprehend, select, adapt, and use scientific and technological knowledge will increasingly be the determinant of material well-being and quality of life.
Concern for the scientific and technological capacity of its clients has been a part of the World Bank’s work since its founding, but attempts to raise science and technology capacity among clients has not always been sustained and systematic. So the World Bank can play an important role in helping its clients use science and techn ology for economical and social development.
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