PUBLIC INVESTMENT AND ITS IMPLICATIONS FOR TECHNOLOGICAL PROGRESS: A COMPARISON BETWEEN DEVELOPED AND EMERGING ECONOMIES
Emerging economies have unique characteristics. Governments should promote effective development policies taking into account the particularities of each country. Public spending in the educational system for stimulating technological and scientific progress should be part of the government’s agenda on socioeconomic development, creating successful strategies to stimulate robust and innovative processes directed to meet internal demands. The investment in research and development by developing countries such as China has improved their economy and it allows them to become leaders in different sectors of the international market.
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