THE IMPACT OF TECHNOLOGICAL CHANGE ON WORLD ECONOMIC GROWTH

Abstract

Globalization is a process of global economic, political and cultural integration and unification. As a result of globalization, the world becomes more connected and dependent on all its subjects. There is an increase in both the number of problems common to groups of states and the number and types of integrated entities. The main consequences of globalization are the international division of labor, migration across the planet of capital, human and productive resources, standardization. In a globalized world economy, the reason for differences in economic growth and income inequality between countries is explained on the basis of technological differences. The level of development of science and technology in the country directly affects the socio-economic development of society and the level of efficiency of technological and production processes. The creation of high-tech industries today is becoming the main direction of ensuring the competitiveness of products in world markets. The innovation factor in economic development is known to play a key role and causes radical changes in the structure of economic activity and productivity levels, which directly affect the level of competitiveness. Today, the creation of high-tech industries is becoming the main direction of ensuring the competitiveness of products in world markets. The standards of life, education, culture, health, information support of the population and business are changing in the society, new and traditional needs of the society are being formed and developing. The role of international scientific cooperation is growing, for example, in the development of outer space, in the field of genetics and energy of the future. The purpose of science and technology is to enable businesses and individuals to use technology more efficiently, as this reduces costs and increases productivity. The use of new technologies opens the way for the production of new cheap goods and for the accumulation of capital, and thus to increase the international competitiveness of individual countries, as well as to improve the quality of research institutions, and on the other hand promoting cultural and political development. The quality of growth rates is just as important as their size. It is revealed that the development of machinery and technology leads to the continuous development of society. Changes in world GDP depending on world technological systems are analyzed. A clear interdependence of economic development of each country and the world as a whole on the development of technological systems has been established.