The Techno-Economic Paradigms Conception and the Cyclical Vulnerabilities of Economic Development: [preprint]
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Date
2009
Authors
Bazhal, Iurii
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Abstract
The paper develops the Neo-Schumpeterian conception about Techno-Economic Paradigms with its leading role of technological innovation. This approach gives fruitful methodological base to explain the patterns of contemporary economic crisis in case of the European transitive countries, and in particular of Ukraine. The technological determinism shapes the nature and the results of the "civilizing" competition between national economies for their position in global development rating and for the corresponding social and economic prosperity. Important result is conclusion that we must consider existing of the R&D and technological innovation sphere of a country not only as consequence, but rather as the reason for economic growth. Some transition countries, especially Ukraine, need to recognize the objective nature of these processes. It can help create more effective economic policy implementation to overcome crisis and to not allow it to arise in the future.
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Keywords
Schumpeterian economy, Tugan-Baranovsky’s theory of economic crises, Kondratiev’s “long waves”, techno-economic paradigms, innovation policy, factors of country competitiveness, transitive economy