ABSTRACT
One of the most important indicators of a country's technological transformation is its capital formation process. From the point of view of the targets for investment, a rapid growth can be seen in technological development research as compared to basic research. In 1958 Venezuela entered into an accelerated process of technological modernization and transformation, but the country lacked the necessary human resources. The level of investment in science and technology in Venezuela is practically marginal as compared with the country's GNP or with other countries. Once the 'easy industrialization' stage had come to an end, Venezuela was faced with the necessity of progressing towards a substitution of intermediate and capital goods and once more it became necessary to import specialized human resources. The immigration of professionals and technicians into the country during the period increased by 135 per cent in relative terms.
