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The aim of the article is to identify the current trends in the process of convergence of the member states of the EU within the sphere of innovativeness and to trace the directions of European policy supporting innovative development towards securing stable economic growth. The above formulated aim is achieved by presenting arguments for the significance of technical progress and innovation to economic growth from the perspective of the major trends in economic thought. On the basis of such data as the level of innovativeness of European economy, and the size and structure of expenditures on research and development it is possible to verify the thesis that the ensuring of a stable economic growth and obtaining competition advantage by the member states of the EU depends on an increase in expenditure on research and development as well as on the development of systems of education
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