Importance of science, technology and innovation in economic growth: a comparison between Latin America and the so-called asian tigers
DOI:
https://doi.org/10.18050/revucv-scientia.v12i1.1012Keywords:
Science, Technology, Innovation, Economic Growth, Pacific AllianceAbstract
The paper aims to describe the importance of the science, technology and innovation sector in economic growth through the study of countries belonging to the Pacific Alliance (AP), the Asian Tigers and China. Methodologically, a descriptive statistics analysis (or exploratory data analysis) is performed, which presents a comparative analysis of the growth trend in production variables such as GDP and GDP per capita between 1970 and 2016, also it show sector indicators like the participation of investment resources in research and development, as well as the number of patents registered by residents. Among the main findings is that Asian economies have grown faster than Latin American economies, a result that has led them to higher levels of GDP per capita. Moreover it concluded that the asiatic countries have been a model of economic success among developing economies largely explained by: (i) the innovations and technological advances that enabled it to consolidate into the global market, and (ii) economic integration increasingly strong with a product and/or service offering with higher technological content
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