Emerging technology transfer patterns in the pacific Asia

Abstract

Technology plays an important role in promoting economic growth and economic development. With better technology, production would be greater, even if there are no increases in the use of factors of production. Improvement in technology leads to the reduction in cost. Furthermore, new technology may produce a new product. The effect of technological improvement or creation of new technology, therefore, is to increase competitiveness of a firm. This in turn influences the competitive position of the industry and that of the country. These observations are not only derived from theoretical models but also are supported by empirical findings. A number of studies have shown that technological process contributed substantially to economic growth.1/