How does capital (knowledge/technology) transfer increase the number of socio-economic opportunities in a nation?
The importance of capital transfer:
Briefly, knowledge/ technology transfer is what can largely contribute to a nation's social development process from historical, or even present, perspectives. Throughout history, today’s developed and developing nations are believed to have experienced different qualities of such transfer. For example, around the 18th - 19th century, countries like Guatemala and Chili refused to accept the technologically/socio-economically developed western culture which could have potentially grown their nations afterward. For this reason, those developing countries missed the chance to recognize the domestic industrial revolution - while other countries like England (English Industrial Revolution stated from the Glorious Revolution), Japan (Meiji Restoration), and the United States (English Industrial Revolution Spillover) were enjoying such advancement. To give you another example, the paragon for such development divergence among nations can be seen in how a developing country like North Korea and a developed country like South Korea experienced different socio-economic development, looking at their growth trajectories after the Korean War.
The purpose of this writing:
With such historical contexts in mind, the biggest challenge facing today's societies is thought to lie in how much of the world's population have access to capitals used to be educated, to be able to invest in markets, and to increase the number of opportunities to work - just to name a few. Understanding such logics of the socio-economic development, two layers of the SDG 17th:
17.16 Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources, to support the achievement of the Sustainable Development Goals in all countries, in particular developing countries and
17.16.1 Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the Sustainable Development Goals;
The enrichment of these two components may be the most effective way to further our endeavor to reach other SDGs, as both components could develop the accumulation of nation’s capital.
As the work of the GDEPC has been a critical contribution to today’s R&D and the pursuit of the answer to the discussion topic mentioned above, I hope to hear participants’ opinions about the following questions:
- How does capital (knowledge/technology) transfer increase a number of socio-economic opportunities in a nation?
- How do you think the GDEPC’s work based on its Four Effective Principles contribute to increasing a number of socio-economic opportunities in a nation?
- What challenges have been impeding the GDEPC from reaching its goals (i.e. difficulty of collecting data, getting research permission from some countries, maladministration of a particular nation’s government, etc)
Thank you very much for your time.
*The Ideas expressed in this paper are largely inspired by “Why Nations Fail” authored by Daron Acemoglu and James A. Robinson / “The Bottom Billion” authored by Paul Collier.