An educated labor force adopts and implements modern technology more easily and quickly, and there are many empirical researches that confirm this point. Barro and Sala-i-Martin proved that the level of education of the labor force and public sector investments in R&D have a positive impact on the growth of real per capita income. Benhabib and Spiegel concluded that level of education has a positive effect on economic growth, primarily through technological innovation and speed of adoption and implementation of new technologies. Improved educational structure of the population and labor force improves the attractiveness of a country to foreign investors (Sachs et al., 1999). Improved education of the labor force facilitates the adoption and development of modern technological and organizational solutions found in their study that in
most of the transition countries in Central and Eastern Europe the higher level of secondary education has no significant impact on economic growth while tertiary education significantly facilitates the adoption and implementation of modern
technology.