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The Role of Innovations in the World Economic Development

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  • E. Yasin
  • M. Snegovaya

Abstract

The article considers the role of innovations in the history of the mankind. Three stages of development are pointed out: agrarian, industrial and post industrial (innovational). Specific institutions and types of culture correspond to each of them. Peculiarities of the innovational stage according to catching-up and developed countries are discussed. The former will begin to lose their competitive advantages while approaching technological frontier. Institutional and cultural modernization of developed countries should correspond to the requirements of innovational economy.

Suggested Citation

  • E. Yasin & M. Snegovaya, 2009. "The Role of Innovations in the World Economic Development," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 9.
    • Handle: RePEc:nos:voprec:y:2009:id:920
    DOI: 10.32609/0042-8736-2009-9-15-31
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