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The role of foreign technologies in investment and innovation based economic modernization: experience of the republic of Korea, lessons for Ukraine

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  • O. Salikhova, H. Bak

Abstract

The authors have formed a set of tools to evaluate the investment and innovation based economic modernization and the role of foreign technology in the process. Stages are defined in the technological development of the Republic of Korea and analysis was made of the state mechanisms, which provided a framework for the effective implementation of foreign technologies. The authors empirically established the relationship between the transfer of foreign technologies in the Republic of Korea and the indicators of national investment and innovation based development. Justified the thesis that, for the government policies attracting foreign technologies in the national economy to obtain maximum effect, they should correspond to the development of the national framework conditions for innovation and should be followed by the creation of appropriate macroeconomic environment through adjacent policy instruments. Provided various recommendations for improving the efficiency of foreign technologies in Ukraine's industry on the experience of the Republic of Korea. Emphasized the need to take into account local resources, stage of development of the national economy, and globalization.

Suggested Citation

  • O. Salikhova, H. Bak, 2015. "The role of foreign technologies in investment and innovation based economic modernization: experience of the republic of Korea, lessons for Ukraine," Economy and Forecasting, Valeriy Heyets, issue 1, pages 105-120.
  • Handle: RePEc:eip:journl:y:2015:i:1:p:105-120
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