Influence of R&D and Innovation on Development in Emerging Markets

Abstract

The concept of development has been interpreted in different ways from past to present. This concept was discussed previously on economic, social and cultural aspects; but now it has transformed into concepts like human capital, education, health, innovation, technological development and poverty. A country needs producing for development, and it is necessary to increase efficiency for obtaining profits from this production. At this point the inclination to R&D and innovation is increasing.
 Today, it is experiencing the transition of a new era. This process can be distinguished by technological change resulted from knowledge creation, innovation and R&D. In addition to the production factors, knowledge and technology have become indispensable where the importance is increasing. R&D and innovation are seen as factors which are increasing economic growth, prosperity and quality of life and which provide competitiveness and productivity growth between countries.
 In this study, R&D and innovation activities are evaluated and their importance are highlighted in the issue of development for emerging markets. The increasing R&D and innovation projects provided that resources are using more effectively and efficiently by contributing to the development of emerging markets. The purpose of this study is to determine the impact of R&D and innovation on development by considering sample emerging markets economies and to make the attention of the scientific community focus on these issues.