ABSTRACT
Technology denotes knowledge or information of how to perform tasks, solve problems or produce products or services. The relationship between technology and science is imprecisely understood and difficult to define. Since the 1950s, economic theorists have focused increasing attention on the role of technology in the general economy and on its influence in international trade. Perhaps the major reason for the increased interest in international technology transfer is a clearer understanding among economists and policy makers of the role of technology in economic growth. To say that technology is a major contributing factor to economic growth is almost commonplace. Technology is transferred across international boundaries in a wide variety of ways. Transfers of technology may occur as the result of intentional actions by a firm, government or individual, or they may take place unintentionally. Economists who have attempted to measure the contribution of technology to economic growth generally acknowledge the crudeness of their estimates.
