The interactions of wage changes and sustainable investment – example of Lithuania

Abstract

The paper describes the search for an answer to the question – how the knowledge, innovation and technologies interacts and how the formation of knowledge, innovation and technologies (KNIT) cluster leads to development of social sustainability. The objective of this article – to identify the main factors that have impact on interactions between wage changes and sustainable investment. To achieve this objective, the following tasks have been implemented: the analysis of the theoretical aspects of employment and peculiarities of its support; the analysis of theoretical aspects of wage and sustainable investment; the identification of knowledge, innovation and technologies integration, which leads to development of social sustainability (the increase of employment and the volume of sustainable investment). In this article the authors focused on sustainability development of an economically, politically and territorially autonomous country with scientific knowledge, innovations and technological progress as the main resources, which directly influence the factors of development. Special attention is given to business sustainability. The authors demonstrate the concept for knowledge generation, design of the national social sustainability development strategy and functional innovation and technology integration into strategy implementation.