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Integration of Technological Factors and Institutional Conditions of Transition to Innovative Type of Economic Growth

Integration of Technological Factors and Institutional Conditions of Transition to Innovative Type of Economic Growth

Journal of Economic Regulation, , Vol. 10 (no. 2),

The article reveals the hierarchy of technological, economic, political, institutional, social and ecological factors of economic growth, based on its type. The authors substantiated that in the conditions of modern trends of the world economic development, technological innovations become the dominant factor of the innovation type of economic growth. The role of economic, administrative and political factors, as well as the institutional conditions for initiating and stimulating the economic growth, which is confirmed by the macro-dynamics data of national economies and international ratings of global competetiveness of national economies created by Global Economic Forum, is argued. The analysis of the factors of innovation type of economic growth presented in the article made it possible to propose priority directions of government economic policy.

Keywords: economic growth, innovation, government policy, factors, incentives, new technologies, cipher economy, rating

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