The Correlation Between Research & Development And The Economic Growth In Romania
Source: University of Craiova
The increasing productivity of production factors, due to progresses in science and technology is today the engine of economic growth. The economic theory managed to endogenize the technical progress, first as a result of the unintended activities of firms, then as the result of profit driven behaviour of economic agents. In globalization the stock of knowledge becomes available also to developing countries and the production technologies and their employment are more democratic regarding the availability. For the developing countries it still remains the problem of financial resources and availability.