Radović-Marković, Mirjana and Marković, Dušan and Karadjova, Vera (2023) DIGITALIZATION AND ECONOMIC GROWTH OF SMALL COUNTRIES IN THE AGE OF GLOBALIZATION. In: 12th International Scientific Conference "Employment, Education and Entrepreneurship", October 26-28, 2023, Belgrade, Serbia.
Full text not available from this repository.Abstract
Globalization has opened up new markets and opportunities for small countries to participate in the global economy. They can attract foreign direct investment, access international trade networks, and benefit from technology transfer. This can lead to economic growth, job creation, and increased income levels. The interconnectedness of the global economy through technology and communication has enabled small countries to access information, knowledge, and ideas from around the world. This can facilitate innovation, research collaboration, and the adoption of best practices in various fields. In order to more
objectively evaluate the progress of small countries and their inclusion in global business flows, some of the basic indicators of development were analyzed. In terms of methodology, in addition to using the literature and our previous research, our analysis of the impact of globalization on economic development was measured by the globalization index (KOF) of small countries. In our research, we compared two small countries - Montenegro and Luxembourg, which have the same size but differ a lot in economic terms. The main result of the research showed that it is necessary to effectively solve the issues of transition to a changing global trade regime, strengthening innovation capacities and constantly meeting the key challenges arising from global process. This is especially important for those small countries as Montenegro that are lagging in their economic development.
Key words: Digitalization, economic growth, small countries, innovation, globalization
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Scientific Fields (Frascati) > Social Sciences > Economics and Business |
| Divisions: | Faculty of Tourism and Hospitality |
| Depositing User: | Prof. d-r Vera Karadjova |
| Date Deposited: | 07 Jul 2025 09:48 |
| Last Modified: | 07 Jul 2025 09:48 |
| URI: | https://eprints.uklo.edu.mk/id/eprint/10964 |
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