COMPETITIVENESS IN THE ECONOMIES OF THE WESTERN BALKAN REGION COUNTRIES
Keywords:
competitiveness, economy, Serbia, Croatia, Montenegro, Bosnia and Herzegovina.Abstract
Competitiveness is a concept that is often present not only in economics, but also in any other science. Today, this term is often used in microeconomic and macroeconomic analyses, while globalization has largely contributed to its proliferation. In that case, we are talking about global competitiveness. From the aspect of comparative analysis, it is important to show the state of competitiveness in the economies of the Western Balkan countries. In this paper, a special attention is given to the following countries: Montenegro, Croatia, Serbia and Bosnia and Herzegovina. The paper deals with the analysis of the position, production structure, and export priorities of these countries in their mutually competitive relationship. The descriptive factor of competitiveness, vital functions and the ranking of the countries in the region in relation to the European Union are also presented. The aim of this paper is to show that the competitiveness of the observed countries creates better conditions for their development, as well as their better positioning on the global competitive scale. The analysis also confirmed that countries that support innovation, development of human resources, that are moving towards the adoption of changes and that are adaptable to them...
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