But there are many obstacles to a real climate of development in those countries. One big issue is political corruption. This is one of the most difficult problems that need to be overcome for the developing countries to find a way out into higher levels of socioeconomic development. The United Nations through some of its institutions studies closely all the issues related to development and poverty reduction. Innovation policies will indeed help any developing country to find an appropriate climate for competition that can produce structural changes in favour of a real enhancement of the socioeconomic development.
"According to World Development Report 1998 (WDR) in addition to taking advantage of the large global stock of knowledge, the developing countries should develop the capability to create knowledge at home. It also acknowledges that 'some types of knowledge must be built from the ground up'. This capability to create knowledge at home must encompass not only strategies to develop knowledge locally but also policies and mechanisms that will eventually enhance the capability of the nation to absorb knowledge. Together these would constitute public innovation policies in the developing-country context."
As we can see from these assertions, innovation policies are necessary in order for the developing countries to adapt themselves to this new knowledge society in which the ...Show more