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Economy & Business, Volume 10, 2016

NANOTECHNOLOGY CONTRIBUTION TO INNOVATION-DRIVEN GROWTH: HYPE OR HOPE?
Olga B. Koshovets, Nikolay A. Ganichev
Pages: 546-561
Published: 28 Sep 2016
Views: 550
Downloads: 321
Abstract: The paper considers the role of nanotechnology as one of the possible general purpose technology (or basic innovation), which would be the core of the next great technological revolution. Authors focus on the numerous troubles with the estimates of the market size of nanotechnology products, as well on the reliability and realism of forecasts made by international research companies for nanotechnology development and its role to spur global economy and new cycle of growth. It appears that the potential of nanotechnology market growth and economic impact of these technologies development may not be so great than anticipated, and its part in the world economy growth is more than modest.
Keywords: nanotechnology, economic growth, innovation development, technological revolution, general-purpose technology
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