Naslov
HOW TO MAKE WESTERN BALKAN TIGERS?

Autori
Pupavac, Drago ; Pupavac, Justin

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, prošireni sažetak, znanstveni

Izvornik
NEW TRENDS AND BEST PRACTICES IN SOCIOECONOMIC RESEARCH / Drašković, Veselin ; Bilan Yurij - Igalo : Economic Laboratory for Transition Research, Podgorica, Montenegro ; Center for Sociological Research Szczecin, Poland ; Adriatic University Bar, Faculty of Mediterranean Business studies Tivat, Montenegro ; and University Mediterranean, Podgorica, Montenegro, 2018, 38-39

ISBN
978-9940-673-18-5

Skup
SER 2018 New Trends and Best Practices in Socioeconomic Research

Mjesto i datum
Herceg Novi, Crna Gora; Igalo, Crna Gora, 26.04.2018. - 28.04.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Western Balkan, economic growth, economic development, five

Sažetak
In order to make the Western Balkans a stable, economically viable, dynamic and rapidly growing region of the European continent, it is necessary to have a holistic approach to the region without compromising the autonomy of individual countries and their need to improve the competitive capacity of enterprises in their area by creating measures of state interventionism and creating "market friendly "economic environment. The Western Balkan countries' economic policies should be geared towards high economic growth rates. There are five basic pillars on which Western Balkans Tigers can be built: 1) Democracy, security, mutual understanding and colaboration in region - this pillar has the task of ensuring that existing production capacities and economic resources are geared to economic needs rather than threats to peace and security in the region. At national level, social dialogue, social partnership and social consensus should be recognized as a prerequisite for achieving common goals to build economic development and effective social and employment policies. 2) Export-oriented reindustrialization - all Western Balkan countries need to modernize their economies especialy improve agrarian sector and realize fast reindustralization. Reindustrialization is a condition of recovery and economic development. Reindustrialization have to bee drive not by the growth of domestic consumption but by the rapid expansion of exports. This is why this reindustrialization is called „export-oriented“. Where is the market for exports from the Western Balkan states? The answer is the Western Balkan state in general and the EU in particular. On the third markets seems be an appropriate to have a joint regional performance. 3) Inclusion in global producer-driven and buyer driven commodity chains, and strong support from international lending instituions (World Bank and International Monetary Fund). Producer- driven commodity chains are those in which large, usually transnational, manufacturers play the central role sin coordinating production networks (including ther backward and forward linkages). This is characteristic of capital-and technology-intensive industries such as automobiles, aircraft, computers, semiconductors, and heavy machinery. Buyer- driven commodity chains refer to those industries in which large retailers, designers, and trading companies play the pivotal role in setting up decentralized production networks in a variety of exporting countries, tipically located in the developing world. This pattern of trade-led industrialization has become common in labor-intensive, consumer goods industries such as garments, footwear, toys, housewares, cunsumer electronics, and a variety of hand- crafted items (e.g., furniture, ornaments). Strong support from internatioanal lending institutions is necesery because Western Balkan states loose the control in the finance (banking) sector. 4) Lunch the knowledge intensive industry - Knowledge-intensive indutries would thus imply that knowledge has more significance than other inputs (i.e. capital and labor). Knowledge intensive firms are characterized as organizations where well-educated and qualified employees form a major part of the work force and engage in mainly “intellectual work”. This means that accumulation of knowledge at all levels is necessary for economic growth. The Western Balkan countries need to establish a positive correlation between tertiary education and economic growth. The existing link between secondary education and economic growth is not a pledge of a prosperous future, as foreign investment, based on such industries, can provide a economics growth in the short term, but not economic development. 5) Stop the outflow of human capital and encourage ethical and socially responsible business. In business practice, it is necessary to promote and develop economic virtues, which are consisting of love (mercy, enthusiasm, brotherhood and attraction) and synthetic virtues (tolerance, honesty, faith, and hope).

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA