The co-evolutionary dynamics of technology and institutions.

Technological innovation is not the only source of economic transformation, but its importance will increase over time. The report rejects the view that technology determines socioeconomic change, but it notes the co-evolution between technical change and social adjustment. It therefore stresses the importance of aligning structures of governance with development goals and the associated technological missions. While specific strategies may vary acros countries, most of the institutional measures needed to promote technological innovation are similar. This is not to suggest that the relations between technological change and institutional adjustment are deterministic. To the contrary, the report underscores the fact that building a knowledge-based economy in developing countries will require the creation of governance structures that reflect the co-evolutionary dynamics of technology and institutions.

Page 17 (16) In Innovation: Applying Knowledge In Development. Available at http://www.unmillenniumproject.org/documents/Science-complete.pdf