Sistemskodinamičko simulacijsko modeliranje utjecaja tehnološkog kapitala na gospodarski rast Republike Hrvatske
System Dynamics Simulation Modelling of the Impact of Technology Capital on Economic Growth of the Republic of Croatia

Summary/Abstract: The development of science and technology plays a major role in economic growth. In some developed countries, the impact of technological advancement has reached 60-70% relative to other factors. Technology has become the main force in economic growth. Science and technology, theory and practice have become increasingly linked forming a single chain, promoting further development of technology, thus creating a need for continuous innovation and invention activities. Globalization, in particular the globalization of the economy, is a direct result of the scientific and technological revolution which creates links and scope for further development of the productive forces. The underlying driving force of globalization is technological development which makes the world a smaller place, both in terms of space and time, bringing qualitative and quantitative changes to the economic, political and cultural fields. System dynamics simulation modelling is one of the most suitable and effective scientific methods for modelling the dynamics of complex, non-linear natural, economic and technical systems. It enables monitoring and assessment of the impact of technology capital on economic growth. In creating a system dynamics simulation model of the impact of technology capital on economic growth of the Republic of Croatia we have created a structure diagram, mental-verbal model and mathematical model for the period between 1999 and 2009. Since system dynamics simulation model provides answers to the “what if” questions, two scenarios were constructed to analyse the economic growth influenced by technology capital change. The first scenario gives an answer to the question what would have happened to the economic growth of Croatia in the relevant period had there been a steady increase in investment in research and development,the implementation of advanced technology and investment in general. The second scenario gives an answer to the question what would have happened to the economic growth of Croatia had the share of the technology capital in the achieved economic growth been 0.39 instead of 0.1 (as recorded in Croatia).

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