Macroeconomic Factors of Competitiveness of Serbian Economy and ICT Sector

Macroeconomic Factors of Competitiveness of Serbian Economy and ICT Sector

Drago Cvijanovic (Institute of Agricultural Economics, Serbia), Ivan Milojevic (University of Business Studies, Banja Luka, Bosnia and Herzegovina) and Radovan Pejanovic (University of Novi Sad, Serbia)
Copyright: © 2012 |Pages: 14
DOI: 10.4018/978-1-4666-0882-5.ch405

Abstract

Information and communication technology is an initiating and driving force behind economic development. The contribution of the ICT sector is in production and export increase within the sector itself and of the competitiveness of the economy as a whole. Competitiveness is synonymous with productivity and can be enhanced by rational utilization and investment in resources, application of the latest knowledge, investment, by increase of operating efficiency, and implementation of modern technologies in production. Competitiveness implies development of infrastructure and telecommunications, and intensive Internet usage. According to the Global Competitiveness Index, Serbia is lowly ranked. Serbia has the greatest advantage in the area of elementary and higher education, technological readiness and innovativeness. The analysis of technological readiness and the level of innovativeness within the global competitiveness of Serbian economy in 2009, indicates a high level of competitiveness and potential to be developed. Technology transfer from the developed countries is the basis for long-term sustainable economic growth and development. The paper focuses on the analysis of competitiveness of Serbian economy, international economic environment and the determinants of competitiveness.
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Comparison Of Competitiveness Of Serbian Economy And Neighbouring Countries

The competitiveness at the international level is evaluated by aggregate indexes. The analysis used the following indexes: the trade deficit and indebtedness of the country. In the period from 2001-2009, trade deficit amounted to 5,228.66 million € on average. The analysis of foreign trade exchange of products and services in recent years, shows export and import increase. Means of production import and export increased most. Equipment import falls behind capital product import. The consequence of a low equipment import is a low level of competitiveness of products and services in international markets. The Serbian export includes iron, steel, non-ferrous metals, vegetables and fruits and grains.

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