SKIRTINGO TECHNOLOGINIO LYGIO PRAMONĖS ŠAKŲ ĮTAKA ŠALIES EKONOMIKOS AUGIMUI
Keywords:investment, innovation, industry technology level, economic growth, value added
AbstractTraditionally it is deemed that one of the factors determining long-term economic growth and competitiveness is volume of investment to innovations of high-tech products and production processes. As Klotz (1999) argue, one of the most important factors for future success of an economy will be implementation of novelties; quick learning and flexibility of separate business organizations, and namely the knowledge will attract capital flows. Hirsch-Kreinsen (2008), who hasn’t disclaimed the influence of high technologies to future economic development, though makes attention to low-tech industry potential to implement innovations. Namely low- and medium- tech industries determine unemployment indices and create a marked proportion of value added in a country’s economy.
The objective of the article is to make an evaluation of different tech-level industries investment and innovations influence on the economic growth. In the paper OECD classification was used and applied to Lithuanian manufacturing industries to group them according to the technology level used. The statistical analysis revealed that high- and middle-tech industries create a moderate part of value added and innovations in Lithuania.
Competitiveness of Nations in Global Economy