The role of science in the socio-economic development of countries with different scientific potential

Abstract

The article is devoted to determining the role of science in the socio-economic development of countries with different scientific potential. The review of the literature shows the most important aspects for further study, namely the contribution of science to the socio-economic and technological development of the country as a whole and to the assessment of the relationship between the indicators of science and socio-economic development in particular. The analysis revealed that in countries with high and medium scientific potential, science contributes to the effective use of knowledge by the country for its economic and social development, while in countries with low scientific potential, there is a weak link between science and the development of the knowledge economy. Science is a key element in the formation and development of post-industrial society, knowledge-based and innovative economy, which confirms the experience of countries-technological leaders, where research and development, technology and innovation are the core of development of economy and society. It is shown that investments in R&D have a significant impact on economic growth, labor productivity and competitiveness. Science is one of the sources of economic growth. In the context of the fourth industrial revolution, the country's scientific potential is a key factor in the formation of a knowledge-based economy. The formation and effective functioning of the knowledge economy depends on the creation, dissemination and use of knowledge, research and development results.