Technological development as important condition of international competitiveness

Abstract

Successful industrialization and economic growth in general, require that developing countries use scarce resources in most productive way. It is evident that developing countries lag behind in processes of technological development and at the same time face problems of how best to bridge the technology gap. The best solution is to rely on inflows of foreign technology, as well as reinforcement of domestic research and development base. Despite usual structural and neoclassical assumption that technology diffuses freely, important condition for efficient technology absorption is developing, not only adaptive, but also developmental technological capabilities. Also, productive research and development activities can not take place without an adequate stock of human capital.

Keywords

• economic growth
• factors of economic growth
• technology
• human capital
• technology transfer
• research and development activities