SCIENCE AND EDUCATION IMPACT ON ECONOMIC GROWTH AND ASSESSMENT METHODOLOGY OF INNOVATIVE POTENTIAL
Indisputably in the 20th century, now and in the future, economic development is mostly based on innovations, especially in advanced technological solutions. In this case, the assessment of the economic consequences of knowledge and education is an extremely significant and contemporary scientific issue. The latter, being a relatively new area of research is sourced from the classical works of economics (A. Smith, A. Marshall, etc.). Conceptual issues of innovative development have been considered especially in the works of J. Schumpeter. The study of the issue is important for those countries, which are on the way to improve the scientific-educational system in order to record sustainable economic growth. The Republic of Armenia (RA) is among these countries.
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