Authors: E.A. Gasanov, A.E. Zubarev

Title of the article: Technological dynamism and the dominating neo-industrial economy clusters as the basis of ensuring continuous welfare

Year: 2020, Issue: 2, Pages: 23-29

Branch of knowledge: 08.00.01 Economic Theory

Index UDK: 332.146.2:658.52

DOI: 10.26730/2587-5574-2020-2-23-29

Abstract: This article discusses the dominating factors of economic growth and the new factors of the industrial production in the economy. Here, an attempt is made to highlight general immanent sources of growth and to show how a modern economy can move from stagnation to growth and, finally, to a situation where technological dynamism becomes a unique phenomenon underlying the continuous well-being of society. Economic growth includes certain values and acquires a distinct social orientation. Under the influence of modern digital and intelligent technologies, the neo-industrial development of the economy is accelerating. This actualizes the theory of endogenous economic growth. To rapidly reach the frontier of technological dynamism of the economy, the active participation of the state in the investment process, planning and programming of innovations in the economy are required. The macroeconomic conditions will be created for reinvesting, mobilization of endogenous resources and diffusion of growth momentum, emerging in innovative industries. As the economy is been modernized, its structure is under-going dramatic changes, passing through different update phases and achieves technical dynamism.

Key words: endogenous growth technological basis technological dynamism digital technologies neo-industrial development continuous welfare

Receiving date: 06.06.2020

Publication date: 30.09.2020

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