Saving gap and Technological & Management gap are two different concepts related to economic development and growth.
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Saving gap refers to the difference between a country’s domestic savings and investment needs. If a country’s investment needs are higher than its domestic savings, it may need to rely on external sources of financing, such as foreign direct investment, loans, or aid. In other words, a saving gap occurs when a country does not save enough to finance its desired level of investment.
Technological and Management gap, on the other hand, refers to the difference in technology and managerial practices between developed and developing countries. Developed countries typically have access to advanced technology and highly efficient managerial practices, which allow them to produce goods and services more efficiently than developing countries. This difference in technology and management practices can hinder the growth and development of developing countries.
To address these gaps, governments of developing countries can implement policies to encourage domestic savings, such as tax incentives for savings and investment, and policies to attract foreign investment. Developing countries can also invest in education and training programs to improve their technological and managerial capabilities, and promote innovation and research and development.
In conclusion, saving gap and technological and management gap are two different concepts that can impact a country’s economic growth and development. Addressing these gaps can require different policy approaches, such as promoting savings and investment or investing in education and innovation.