Banking and the Promotion of Technological Development

This book examines the role of the banking system in the promotion of a country's technological development. Looking at the historical experience of developing countries, it suggests that banks, far from being only financial institutions, are also major technological innovators in their own right and play a major part in the process of development. They contribute to the choice of technology, the building of a technological capability and the creation of new employment opportunities. This role, largely ignored by the banks themselves as well as by governments, could be made more effective through a better integration of banks in the design and execution of national policies for technological development. This book promotes this view and should be of relevance to courses in international economics, development economics, international finance and science policy. Nicolas Jequier has worked as a consultant for the World Bank, the International Labour Office and the European Community. Yao-Su Hu has held consulting assignments with a number of international agencies, notably the OECD and the European Community.