Technological Competitiveness of the Danish Manufacturing Industry:A Critical Review

This paper presents a comprehensive review of technological competitiveness of the Danish manufacturing industry. The paper looks into how Denmark competes successfully with other developed economies in the world despite high taxes, large welfare expenses, small geographical size, existence of a large proportion of small- and medium-sized enterprises and lack of abundant natural resources. The paper discusses the economic transformation of the Danish manufacturing industry with structural analysis of different industry sectors. The growth of technology has been examined with the help of various technology growth indicators, like research intensity, patent statistics, Networked Readiness Index, technology transfer ability and technology balance of payments. The impact of socioeconomic aspects on technological growth has been discussed. In spite of the success, it has been observed that the Danish manufacturing industry are facing various challenges towards innovation systems. At the end, some suggested measures to rejuvenate the Danish manufacturing industry are presented.