KNOWLEDGE ECONOMY AND COMPETITIVENESS OF BOSNIA AND HERZEGOVINA IN A GLOBAL ECONOMY

Abstract

This paper studies the knowledge economy and competitiveness of countries and their mutual influences. The development of information and communication technologies and the growth of the global economy have created a competition that boasts features of the knowledge economy. A key resource and competitiveness base in the modern economy is knowledge, which is the foundation of social progress. Knowledge economy requires changes in the process of creating value and sources of competitive advantage. How knowledge is used effectively for economic development and level of development of countries in this regard is measured by an index of the knowledge economy. This paper presents many of the world reports and parameters that reflect the position of Bosnia and Herzegovina and its competitors in the global economy, which permeates every pore of society.