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HOW TO MEASURE COUNTRY'S INVESTMENT TO TECHNOLOGIES: DEFINING INDICATORS
Abstract
Investment to technologies is an advanced concept in today's economy, which defines not only the importance of investment to technical equipment and technological processes but also the role of knowledge and investment to R&D. Due to this, it is not sufficient to evaluate one or another individual indicator in order to assess country's investment to technologies: a complex view is needed. The main purpose of the research was to define the indicators for measuring countries investment to technologies. Research was based on systematic and comparative scientific literature analysis and statistical data analysis. The indicators of 28 European Union countries from World well-known databases during 10 years period were analysed. Factor analysis was performed in order to assign each indicator to different subgroups according to the subject it represents. The set of investment to technologies indicators were defined and classified to the three main dimensions: technology system, business enterprises activities and technological achievement. The defined set of indicators will contribute in further investigation of countries investment to technologies. Research results lead to measure countries investment to technologies and to compare it between different countries and different time periods that could show countries position and progress while investing to technologies.
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