The Role of Scientific and Technological Progress in the Theory of Economic Growth

L.V. Sergienko, Financial University under the Government of the Russian Federation, General Management Department, Moscow, Russia, sergilub@yandex.ru

key words

innovative activity, innovation potential, human capital, new knowledge, commercialization, innovation transfers

References

The problems of development and realization of industrial policy at the present stage are described in my research work. The real need for the development and implementation of a common approach to the problems of innovative growth of all stakeholders in the implementation of this approach is proved. I have investigated the main aspects of the theory of innovative development. Definition of innovations and innovative activity is made. The analysis of the definition of essence and a role of an innovation in process is carried out. The basic criteria for their definition are revealed. Their main types at the present stage are investigated. I have studied a new understanding of the role scientific and technological progress in the theory of economic growth. A comparative analysis of theoretical models that attempt to justify both exogenous and endogenous (i.e., inherent in the system) nature of technological change, inducing growth. I have investigated the concept of new knowledge, as noncompetitive and inaliennable public good and human capital as major resource for receiving new knowledge and its transformation to new types of production or services for satisfaction of a consumer demand. These categories are the cornerstone of formation of a new paradigm of economic growth which becomes dominating in the first quarter of the 21 century.

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