Business Excellence, Vol. 8 No. 1, 2014.
Preliminary communication
IMPACT OF FOREIGN DIRECT INVESTMENT AND TECHNOLOGY TRANSFER ON CROATIAN ECONOMY GROWTH
Heri Bezić
; Faculty of Economics, University of Rijeka
Petra Karanikić
; Technology Transfer Offi ce, University of Rijeka
Abstract
Technology presents one of the main factors for economic growth. Foreign direct investments are one of the ways of technology transfer what can have an infl uence on economic growth and development. Main indicators through which can technology transfer process be analyzed and monitored are: intellectual property indicators (mainly granted patents), R&D investment (from private and public sector) and investments into education. Implementation of modern technologies mostly depends on absorptive capacity of specific country what is mainly refl ected through education of the labor force, or more
precisely through investment into education. In this paper was analyzed impact of foreign direct investment on Croatian economy
growth through technology transfer in a period from 2001 till 2010. Analyzed indicators are foreign direct investment, technology transfer indicators (granted patents, R&D investments, investments into education) on the main variable GDP per capita as a basic indicator of economic growth. Interdependence among these indicators was also analyzed. Research results have shown that there is a positive interdependence between foreign direct investments and technology transfer indicators on GDP per capita, and within this research on Croatian economy growth. Based on the research results authors suggested measures for attracting foreign direct investments which are mostly focused on encouragement of innovative activities with a goal to create high technology products and services, encouragement of investment into R&D in order to increase competitiveness of Croatian economy and to become a preferred destination for foreign investors. Also, implementations of these measures are also suggested with the aim for long-term economic growth of Croatian economy.
Keywords
foreign direct investments; technology transfer; economic growth
Hrčak ID:
123565
URI
Publication date:
27.6.2014.
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