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Regional Cooperation Striving For Competitiveness And Finance

Author

Listed:
  • Tihomir Domazet

    (Croatian Institute of Finance and Accounting)

Abstract

SEE economies are faced with solving current crisis and establishing the economic system based on growth and sustainable development. A challenge for the economics has been to find metrics to gauge the extent to which society has become more dependent on knowledge production. Although there is wide recognition of the importance of knowledge and intangible capital in fostering economic growth and social change, devising useful measures of these assets has been difficult. The primary task of each SEE economy is to establish a new economic model within a new economic system, though there is a need to put theory into practice by moving sustainable development into mainstream economics where that knowledge creates relations across sectors and institutions. Developing, sustaining, and managing knowledge will also require a significant investment in education and knowledge, which indeed constitutes a new economics and development paradigm that should prevail in the global society in the time ahead. In order to achieve wealthier status by all the people of each SEE country, it is necessary to leave the current economic model and to establish a new one as a new economic paradigm. Economic growth as one part of the new economic model should account for at least 5% of GDP annually in the long term. The precondition for achieving the above-mentioned is to increase competitiveness of products that should be realized through regional cooperation. How to finance regional cooperation is, however, the next more important issue.

Suggested Citation

  • Tihomir Domazet, 2012. "Regional Cooperation Striving For Competitiveness And Finance," Serbian Association of Economists Journal, SAE - Serbian Association of Economists, issue 5-6, pages 290-300, August.
  • Handle: RePEc:srb:journl:y:2012:i:5-6:p:290-300
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    File URL: http://www.ses.org.rs/ekonomika-preduzeca/2012-5-6-06.pdf
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    Cited by:

    1. repec:ags:aolpei:263954 is not listed on IDEAS
    2. Jambor, A. & Toth, A.T. & Koroshegyi, D., 2018. "Competitiveness in the trade of spices: A global evidence," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277195, International Association of Agricultural Economists.
    3. Babu, Suresh Chandra & Shishodia, Mahika, 2017. "Agribusiness competitiveness: Applying analytics, typology, and measurements to Africa," IFPRI discussion papers 1648, International Food Policy Research Institute (IFPRI).
    4. Bonfiglio, Andrea & Henke, Roberto & Pierangeli, Fabio & D’Andrea, Maria Rosaria Pupo, 2018. "Direct payments and competitiveness. Assessing redistributive effects of internal convergence in Italy," 162nd Seminar, April 26-27, 2018, Budapest, Hungary 271955, European Association of Agricultural Economists.
    5. repec:ksa:szemle:1736 is not listed on IDEAS
    6. repec:bla:jageco:v:68:y:2017:i:1:p:199-205 is not listed on IDEAS

    More about this item

    Keywords

    SEE countries; economic crisis; new economic model; knowledge economy; regional cooperation;

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General

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