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59

XVIII . XXI .

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: , ,,

DEVELOPMENT OF INNOVATIVE THEORIES FROM THE END OF 18TH CENTURY TO THE BEGINNING OF THE 21ST CENTURY

Abstract The development of a modern economy is dependent on knowledge and

innovation in their capacity for economic growth. Although they are the building blocks of the new economy of the late twentieth century and early twentieth century, their influence and development was the subject of investigation by a number of representatives of economic thought even before. The purpose of this paper is to try to make a historical overview, that without claiming to be exhaustive, to trace the emergence and changes in the understanding and study of innovation processes in the economic life since Adam Smith to the present day. In addition to the objective set it reviews the state and progress of the market policy of Bulgaria in the field of science and innovation. The argument about the role of technical progress and implementation of innovation as drivers of economic growth is theoretically established. This sector of Bulgarian economy is defined as underdeveloped. This is a prerequisite for the slow pace of economic development and integration of our country into the European and global technological, innovation and economic space.

Key words: research and development, innovation, entrepreneurship, innovation policy