engleski

Competitiveness and knowledge economy

Due to the changes in the global economic environment, competitiveness of an economy is difficult to sustain as it depends upon various different factors. Among the most important ones are economic and political stability, level of infrastructure development, legal system, and on a microeconomic level, business climate, investments in research and development, etc. The process of economic development and the availability of factors crucial for economic growth and competitiveness differ among countries and their importance has changed over time. The latest trends of globalization, integration and coordination have led to the increasing importance of understanding the global trends in order to gain collaborative and adaptive advantage. Modern societies are analyzed not only in terms of their production possibilities but also in terms of their technologic development and human capital availability. A new concept of knowledge economy has been developed and it encompasses all aspects of modern economy in which knowledge represents the source of added value. This paper investigates the relationship between competitiveness and knowledge economy. The level of international competitiveness is analyzed together with different indicators of knowledge economy in the EU and present EU candidates (except Montenegro). The purpose of the paper is to reach some conclusions about the position of the analyzed countries in terms of the level of competitiveness and their success in the transformation process to the knowledge economy.

knowledge economy; competitiveness; sources; globalization

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