Model of structural equation of influence knowledge economy on growth of gross domestic product
Journal Title: Acta Economica - Year 2016, Vol 14, Issue 24
Abstract
The modern age is often described using the terms information society, post-industrial society, knowledge economy, e-culture. Each of these phrases stresses some of the components of our modernity and is the result of many commercialized technological progress in relation to the overall economic and social development. The object of changes is the organizational system, company, corporation, technology, business process and also a man. The origin of all is man’s natural tendency to develop and change themselves, their environment and any other changes are a reflection of such natural human aspirations for change. Therefore, man is constantly researching and generating new solutions in manufacturing, services, organization and in value chain continuously adds value using new knowledge. In the value of products increasing weight has the analytical knowledge, design, engineering, new materials, technological procedures. A new economy is developing whose base is knowledge and GDP growth directly influenced by knowledge incorporated in its production. Economic analysis can identify the sequence of causes and effects that begins with the constant need to increase competitiveness, continues with investments and technological progress and they result in greater competitiveness. Such a process is guided by economic logic and market criteria is continues, constantly produces higher technological level, better organizational performance, better quality products and service and a greater level of competitiveness. Is it possible to extract knowledge in a particular subsystem and measure its impact on GDP growth? The paper is based on the hypothesis that it is possible to build a model of structural equations by which it is possible to describe and measure the impact of the knowledge economy and migration on GDP growth. In addition to the theoretical components article validate such theoretical model of structural equation by empirical research.
Authors and Affiliations
Брано Маркић, Сања Бијакшић, Арнела Беванда
Keywords
Related Articles
- EP ID EP43825
- DOI https://doi.org/10.7251/ACE1624071M
- Views 284
- Downloads 0
Importance of the system of social protection for transformation in Bosnia and Herzegovina: Our plan for Bosnia
After a terrible civil war, Bosnia and Hercegovina (BiH) has been reconstructed politically in 1995. The complexity of the political structure, however, makes BiH fragile due to different conflicting interests of the res...
Improving Business Performance of Public Companies Using Corporate Governance
The professional community is increasingly addressing the problems of business performance of public enterprises with majority state ownership. Although it is the companies that have significant natural resources and are...
ESSENCE AND ACTUALITY OF KAIN´S THEORY OF INFLATION
Phenomen of inflation has been Representing for a long time an universal problem and one of the most serious (beside the unemployment) troubles specific for modern social - economic changes in the most of countries. In o...
The Capacity of Republika Srpska for Developing of Small and Middle Enterprises
The experiences in developed countries shown that small and midlle enterprises has become the generator of development of whole economy and employing of people. The small enterprises are much more reliable on market dema...
THE PLACE AND ROLE OF INSTITUTIONS FOR SCIENTIFIC RESEARCH IN RS\BIH IN THE PROCESS OF EU INTEGRATIONS
Numerous challenges in economic and political field are before the European Union, and those could be sublimed in thesis that the economy of the Union must achieve higher degree in competitiveness in relation to economy...