Managing Director of the International Monetary Fund Christine Lagarde Tuesday called for more investment from industrial countries in research and development for a better economic growth.
During an open lecture themed “Innovation, Technology and Growth” to ESMT Berlin, an European business school, Lagarde said,industrial countries must attach more importance to R&D in order to remain competitive, considering that digital revolution has been going forward.
“You must invest in future,” the IMF chief cited research results and said. “If the industrial countries increased investment in R&D by 40 percent, their GDP will grow by 5 percent in the near future.”
Lagarde also suggested all the countries adapt to technology changes and make good use of them in order to stimulate economic growth.
Lagarde met German Chancellor Angela Merkel on Monday, joint by leaders of the World Bank, World Trade Organization, the Organization for Economic Co-operation and Development and International Labor Organization, discussing about issues concerning global economy and finance.
At a press conference after the meeting, Lagarde urged more international cooperation in protecting free trade, saying trade was the important motor for economic growth while it would help improve production and solve the unbalanced and unequal development.