As the global stock of ideas expands anddiffuses across and within countries, technological learningis poised to become an even more important determinant ofgrowth through its impact on innovation. This note reviewsglobal trends that make a policy focus on technologicallearning and innovation more important than ever fordeveloping countries. The note explores how the recentglobal financial crisis may affect these trends and outlinesseveral implications of these trends for innovation policymoving forward. Developing countries will benefit from anincreased policy emphasis on technological learning and theadoption of more efficient existing technologies to generatemore and better jobs and higher standards of living.