Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1845967
Effects of technological changes and trade liberalisation on industrial development in the Western Balkan Countries
Goran Popović
orcid.org/0000-0003-4649-8302
Ognjen Erić
orcid.org/0000-0002-5318-9543
Stanko Stanić
Sažetak
The transition process in the Western Balkan Countries (W.B.C.) is
followed by efforts focused on modernisation and industrial
manufacture growth. However, industries in these countries are
still under the pressure of the need for restructuring and the rules
of an open market. Opening towards the world and transferring
new technologies are related processes. Although they are of the
same importance, adoption of new technologies is a process
which is more demanding than trade liberalisation process.
Technological and trade openness pander to other factors of
development and contribute to higher efficiency of investments.
Industrial manufacture growth spurs economic growth.
Furthermore, share of industrial production in G.D.P. as dependent variable represents the scope and quality of industrial development. The hypothesis is that the share of industrial production
in G.D.P. is affected by: Technological readiness, Manufacture
value added and Merchandise trade as well as Gross investments
and Innovations. Results of panel analysis indicate that
Technological readiness, Manufacture value added and Gross
investments have positive and significant impact on industrial
development. Negative coefficient of merchandise trade liberalisation in the panel model implies slowdown of industrial development, and one of the reasons is continuously high merchandise
trade deficit in W.B.C.
Ključne riječi
industrial development; technological changes; trade liberalisation; added value; economic growth; Western Balkan Countries (W.B.C.)
Hrčak ID:
301464
URI
Datum izdavanja:
31.12.2021.
Posjeta: 171 *