Norbert Schady

Closing the Gap in Education and Technology (World Bank Latin American and Caribbean Studies) Norbert Schady

The fundamental elements to unlocking the potential of technology to speed up economic growth in Latin America and the Caribbean (LAC) are investing in education, opening up new technologies through foreign trade and investment, and encouraging private sector research and development. 'Closing the Gap in Education and Technology' advises Latin American and Caribbean governments to address the region's deficits in skills and technology, and thereby boost productivity, ultimately improving growth prospects. To close this 'productivity gap' in the region, the report calls for a range of policy approaches and strategies, depending on a country's level of development. It identifies three progressive stages in a country's technological evolution -- adoption, adaptation, and creation -- and observes that policies should be designed to address the particular challenges that accompany each stage. In conclusion, 'Closing the Gap in Education and Technology' argues that many countries in the Latin American and Caribbean region have been improving education and social risk management systems so that they are now ready to benefit from the rewards associated with creating stronger trade and technology ties with countries that are more technologically advanced.