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This paper presents a conceptual model as a new framework of the technology development processes in LDCs based on global perspective. The proposed model consists of three development stages such as initiation, internalization, and generation, as well as some propositions related to the levels of transferred technology, technology acquisition modes, technology elements mastered, and major contributors of technology development in each development stage. The model explains several dynamic changes in LDC`s development processes with global perspectives focussing on the DC-LDC linkages. In addition to formal channels, this model also deals with non-formal channels, including imitation, which are unduly neglected in the literature, equally important as methods of technology acquisition. Moreover, the proposed model analyzes the technology development processes from several different standpoints and embraces multi-level units of analysis such as country, industry, firm, and unit technology. Because the proposed model explains the observable phenomena only and is a conceptual model to be tested, further theoretical studies are needed to explain the underlying principles of technology development in LDCs such as the technology learning theory. In addition, further empirical studies to test the global perspective model in various situations are needed.