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Industrial Enlargement and Competitiveness Index

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  • Art Kovacic

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Abstract

Over the last decade Slovenia has achieved clear and positive macro-economic results that have placed it among the most sucessful transitions countries. The basic indicators show that it has been integrating and catching up with European Union member states at an ever increasing pace. Despite this, the challenges of a global economy-where only innovation and entrepreneurship can compete succesfully, and the relative lag in the competitive capacity of our economy behind numerous other countries in the world rankings, require drastic changes to be made to Slovenia???s economic structure to adopt as much as possible to the demans of the knowledge based economy. That means the transformation from an economy with low added value whose competitiveness is based on low operative costs into an economy based on production and service activities whose competitive advantages are high added value, quality, innovation and entrapreneurship. Entrepreneurship and the diffusion of innovation, which considerably increase the speed at which new high-quality and low cost products replace existing products, are two driving forces of the knowledge based economy and they are changing the economic structure of leading countries.

Suggested Citation

  • Art Kovacic, 2011. "Industrial Enlargement and Competitiveness Index," William Davidson Institute Working Papers Series wp1009, William Davidson Institute at the University of Michigan.
  • Handle: RePEc:wdi:papers:2011-1009
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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/133023/1/wp1009.pdf
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