Investment in competitiveness: Prerequisite for sustainable development of the Republic of Serbia

Abstract

Competitive advantage of any given economy is the result of systemic measures and mechanisms, but also of the macroeconomic policy instruments, environment, and managerial and commercial capabilities, together with geographic, organizational, demographic and resource indicators. Preservation of a stable and sustainable economic growth is inconceivable without competitiveness and modernization of economy in the sense of innovative activities and the knowledge-driven economy. Competitiveness is being expressed today through the Global Competitiveness Index - GCI, according to which Serbia is occupying the 101st position out of the total of 148 countries.

Keywords

• competitiveness
• knowledge
• innovation
• education
• human resources - capital
• foreign direct investments