Technology is on important determinant of economic growth. Technological progress improves the productivity. Increase in productivity will increase the investment and wage level. Hence technology is an important factor to accelerate the economic development. Third World Countries which have low economic growth must pay more attention to the technological progress. This book discusses the essence of the theories of technological progress, international technology spillovers, technology and economic growth, trade and international technology diffusion, innovation in global economy, determinants of FDI, patents and industrial innovation, new ideas in innovation and a few other related issues.