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The prevailing opinion in Lithuania is that the country's economic growth was determined by the inflow of foreign direct investments (FDI). Their influence on the Lithuanian economy remains unquestionable, however, there is a tendency to overestimate their impact, while other factors are underestimated or ignored completely when conclusions on their influence on the country's economy are drawn. Based on the data of the Department of Statistics of Lithuania, Eurostat, other agencies and the analysis of the research of Lithuanian and foreign academics on FDI, and the impact of the innovations on the country's economy, the given paper presents the analysis of the three main channels for the technological and innovation diffusion, which have exercised decisive influence on economic development in Lithuania over the last decade.
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