Chapter 8 The chapter explains the relationship between progress in technology and economic growth of a country.

Over the last two decades there has been tremendous growth in technology leading to improvement in productivity and quality of products. However there has been gap among countries in terms of the improvement in technology and economic growth. The chapter tries to explain the same

The non convertible bond will have higher coupon rate as compared to convertible bond, as in the former investor is not having any option to convert the bond into stock and in convertible bond investor has to pay cost of option of conversion by reducing the coupon rate. Convertible bond has two components viz equity and debt, therefore it results in lower coupon payment as compared to similar non convertible bond.