Innovation During The Korean Innovation

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Pillar #2: Innovation With education, came innovation during the Korean uprising. Investment in public goods such as education and innovation has always been a strong priority for the government of Korea. The Korean case shows that practical measures can be effective during the stages of global economic development. The investment made in education and Korean innovation systems helped strengthen its economy due to the improvement of the productivity of workers, companies and the industry as a whole. Effective innovation systems that were put in place by the Koreans were research centres, universities, consulting firms and other organizations that now keep up with the revolution of knowledge, allowing that Koreans to take stock of global knowledge and also gives them the ability to adapt to a globalized market. Economic growth, to a large extent is driven by innovation. The ability to create knowledge and innovation is essential for increase in productivity and global competitiveness. The newly industrialized economies like South Korea have demonstrated that research and development investments do not reward only countries that are already technologically advanced but can successfully alter the development path for less advanced economies. Argentina is no exception in this trend. Investments in knowledge production, advanced education and research hold a large promise for placing Argentina on the path to sustainable growth. However, there are a number of challenges that would need to be overcome. As are reference to observe how innovated Argentina is, we look at The Organization for Economic Co-operation and Development. The OECD works with governments to measure productivity and investment. Unfortunately Argentina did not plac... ... middle of paper ... ...wth or incentive which has led Argentina to its current economic situation. In conclusion The design and implementation of development strategies based on knowledge has been proven to lead to rapid growth and a sustained economy filled with knowledge. Over the past four decades, Korea has offered a wide variety of valuable lessons for other developing economies. Particularly important, are the coordinated and complementary expansion of the three pillars of the framework (KE) that provides a vision for an Argentine economic recovery. Economic incentive and institutional regimes, educated and skilled workers, and an effective innovation system are topics the Argentinians must take into consideration. These pillars provide the economy with the necessary means to effectively acquire and use knowledge to improve productivity and improve economic growth in the long term.

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