ORGANIZIRANO UKLJUČIVANJE U PROIZVODNE I RAZVOJNE LANCE RAZVIJENIH − JEDINI NAČIN BRŽEG RAZVOJA MALIH EKONOMIJA U RAZVOJU
ORGANIZED INVOLVEMENT IN PRODUCTION AND DEVELOPMENT CHAINS OF DEVELOPED COUNTRIES - THE ONLY WAY TO ACCELERATE THE DEVELOPMENT OF A SMALL DEVELOPING ECONOMY

Author(s): Ljubo Jurčić
Subject(s): Economy, National Economy, Business Economy / Management, Micro-Economics, Public Finances, Accounting - Business Administration, Socio-Economic Research
Published by: Finrar d.o.o Banja Luka
Keywords: global market; global value chains; international trade;Western Balkans;
Summary/Abstract: Global industrial organization and international trade have entered a new era and changed the relative economic position of countries participating in the global market. Global supply or value chains are a key new paradigm within theories of international trade that explains modern vertical specialization of countries within the global organization of production.They provide development opportunities for countries participating in the chain. For a comprehensive understanding of the organization and functioning of the modern global economy and international trade, as well as opportunities for development within it, it is necessary,above all, to understand the functioning and create conditions for effective inclusion of own economy in global value chains (GVCs) as a new paradigm. Systematic, organized and encouraged development of European global value chains, would raise the development and production potential of the countries of the Western Balkans , as well as the added value(GDP) created in them. One of the obstacles to such policy is that profit and wealth are created on the difference in development among countries.

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