Technological Progress as the Factor of Rapid Economic Growth in Japan and China
(original language – Ukrainian)

The article discloses the impact of technological progress on economic growth in Japan and China, which are distinguished by the high level of development of technologies and innovation activity. The development of science and technology in these countries remains an important factor of further strengthening of economic potential, precondition of successful social task solution. In this research total factor productivity (TFP) of Japan and China is also calculated, contribution of technological progress for economic growth of these countries is analysed. The Japanese and Chinese governments contributed significantly to improvement of technical capacity of their countries owing to adoption of open policy and implementation of a number of economic reforms.

Key words: economic growth factors, neoclassical economic growth theory, technological progress, total productivity factor.

Placed in №2, 2013.

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