INTELLECTUAL CAPITAL AS THE BASIS FOR ECONOMIC DEVELOPMENT AND COMPETITIVENESS

Milenkovski, Bozidar and Blazhekovikj Toshevski, Marina (2022) INTELLECTUAL CAPITAL AS THE BASIS FOR ECONOMIC DEVELOPMENT AND COMPETITIVENESS. Annals of the „Constantin Brâncuşi” University of Târgu Jiu, Economy Series,, 5 (5). pp. 24-29. ISSN ISSN 2344 – 3685/ISSN-L 1844 - 7007

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Abstract

The influence of global energy crisis, COVID-19 pandemic, as well as the penetration of information and
communication technologies in all aspects of life, require radical changes in the attitude towards modern economic
trends. Today, knowledge is of strategic importance to economies around the world, and the thesis that countries have
competitiveness based on relatively cheap factors of production, such as raw materials, energy, or cheap labor, does
not apply in the case of many countries. The example of Japan, Singapore, Switzerland, Finland, Luxembourg or
Israel, illustrates how a competitive advantage can be obtained due to knowledge even in conditions of expensive
energy, lack of raw materials, expensive labor etc. Therefore, in addition to the positive attitude toward changes, great
knowledge is needed in order to achieve progress. Knowledge, that is, its economic embodiment in intellectual capital,
is becoming a key factor for competitiveness of both national economies and firms. Hence, this paper aims to introduce
the concept of intellectual capital as the basis for economic development and competitiveness.

Item Type:	Article
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions:	Faculty of Information and Communication Technologies
Depositing User:	Prof. d-r. Andrijana Bocevska
Date Deposited:	18 Dec 2022 11:42
Last Modified:	18 Dec 2022 11:42
URI:	https://eprints.uklo.edu.mk/id/eprint/7480

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