Harnessing information for development: A proposal for a world bank group vision and strategy∗

Abstract Revolutionary advances in information technology reinforce economic and social changes that are transforming business and society. A new kind of economy ‐ the information economy ‐ is emerging where trade and investment are global and firms compete with knowledge, networking and agility on a global basis. A corresponding new society is also emerging with pervasive information capabilities that make it substantially different from an industrial society: more competitive, more democratic, less centralized, less stable, better able to address individual needs, and friendlier to the environment. These changes dictate, for all countries, a major adjustment to harness information for economic and social development. This adjustment requires urgent new policies, regulatory and institutional reforms, and investments. Through this adjustment, countries must achieve macroeconomic balance, political stability, and growth amidst global information flows, competition, trade, and investment. Advanced countries...

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