The role of technological progress on economic growth and development
| Year | Start Page | End Page |
|---|---|---|
2006 | 1 | 8 |
In the following article analysis and estimation of economical growth and development theories are presented, highlighting classical and modern approaches. A brief review of the most prevailing theories of economic growth is given to understand the evolution process of them in the time range. Author distinguish classical and new model of growth and development, especially highlighting new growth theory. Analysis the modern tendencies of progress show that technological progress is at the heart of industrialization and economic development. The paper gives empirical evidences based on Baltic States, reveals the economical situation and development level of Lithuania, Latvia and Estonia in context of technological progress, statistical data are related to and compared with countries of EU-15.