The role of technological innovation in sustainable economic development
Journal of Knowledge Management, Economics and Information Technology,
As in science an accurate picture of present is highlighted from a future outlook, we should recognize the crucial role of new technologies and innovation to improve knowledge in this field. They may give guarantee of sustainable economic development, provided prioritization of research in some fields such as: information technology and communication, resource depletion and climate change. Technological innovation becomes support of all strategies and policies aimed at ensuring sustainable economic development. With the same direction, advancement of high productivity green technologies and sustainable development become components of innovation vector. We intend to analyze the dynamics of this mechanism to provide policy support for integration of environmental and social progress requirements as preconditions of a sustainable economic development, which in turn, can boost technological innovation. Therefore, we conclude that, by highlighting this relationship, the essential aspects of technological innovation process with a decisive role in sustainable economic development may be better harnessed.