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The Global, Technological, and Institutional Contexts

In: Economic Development in the Digital Age

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  • Nagy K. Hanna

Abstract

This chapter covers the broad global economic and technological contexts for development practice and the evolving role of aid agencies, particularly the World Bank. Countries and aid agencies have a chance to “do development right” and leapfrog old technologies and entrenched practices. Can digital solutions enable a cleaner and leaner lifestyle? Can smart cities and smart infrastructures lead to better capacity for adaptation and resilience, and at the same time, higher productivity? Conceptions of economic development are changing due to the digital revolution. Traditional economic sectors are being transformed by digital technologies and the use of digital data. Changes in the global development environment call for a truly knowledge-based learning organization. This chapter defines digital transformation as an ecosystem and as a process. It also introduces the World Bank as it aims to be an evolving, learning, knowledge-based aid agency.

Suggested Citation

  • Nagy K. Hanna, 2024. "The Global, Technological, and Institutional Contexts," Springer Books, in: Economic Development in the Digital Age, chapter 0, pages 1-18, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-54569-6_1
    DOI: 10.1007/978-3-031-54569-6_1
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