IDEAS home Printed from https://ideas.repec.org/a/mgs/ijoied/v6y2020i1p19-30.html
   My bibliography  Save this article

Is the Recovery of Transition Countries Possible on the New Global Stage and How?

Author

Listed:
  • Anđelko S. Lojpur

    (Faculty of Economics, University of Montenegro, Podgorica, Montenegro)

  • Ivan Radević

    (Faculty of Economics, University of Montenegro, Podgorica, Montenegro)

  • Anja A. Lojpur

    (Central Bank of Montenegro, Podgorica, Montenegro)

  • Nikola Martinović

    (Crnogorska komercijalna banka, member of OTP Group, Podgorica, Montenegro)

Abstract

When it comes to finding a new development formula in transition countries, it is worrisome that a well-trodden development paradigm lacks in today’s multipolar world. Therefore, overcoming the apparent deadlock in the development of transition countries is possible only through the “new” order, or, in other words, through acceptance of the “new” economic paradigm of development. This paper aims to answer the key question regarding the development perspectives of the transition countries, “Can the transition countries (region) ever catch up with the living standards of the world’s most advanced market economies?” In this sense, the research of a new development pattern involving reactivation of the entrepreneurial economy is the answer to the second question: given the omnipresent globalization, is it possible to reverse the concept of development in the transition to greater equality of wealth in the world; therefore, this paper openly advocates for the re-industrialization of transition countries.

Suggested Citation

  • Anđelko S. Lojpur & Ivan Radević & Anja A. Lojpur & Nikola Martinović, 2020. "Is the Recovery of Transition Countries Possible on the New Global Stage and How?," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 6(1), pages 19-30, April.
    • Handle: RePEc:mgs:ijoied:v:6:y:2020:i:1:p:19-30
    as

    Download full text from publisher

    File URL: https://researchleap.com/wp-content/uploads/2020/04/02.Is-the-Recovery-of-Transition-Countries.pdf
    Download Restriction: no
    File URL: https://researchleap.com/recovery-transition-countries-possible-new-global-stage/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dani Rodrik, 2006. "Institutions for High-Quality Growth: What They Are and How to Acquire Them," Chapters, in: Kartik Roy & Jörn Sideras (ed.), Institutions, Globalisation and Empowerment, chapter 2, Edward Elgar Publishing.
    2. World Bank, 2007. "Building Knowledge Economies : Advanced Strategies for Development," World Bank Publications - Books, The World Bank Group, number 6853.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Juan Pineiro Chousa & Haider Ali Khan & Davit N. Melikyan & Artur Tamazian, 2005. "Institutional and Financial Determinants of Development: New Evidence from Advanced and Emerging Markets," CIRJE F-Series CIRJE-F-326, CIRJE, Faculty of Economics, University of Tokyo.
    2. Darma Mahadea, 2012. "Prospects Of Entrepreneurship To The Challenge Of Job Creation In South Africa," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 17(04), pages 1-17.
    3. Rode, Martin & Gwartney, James D., 2012. "Does democratization facilitate economic liberalization?," European Journal of Political Economy, Elsevier, vol. 28(4), pages 607-619.
    4. Simplice A Asongu, 2013. "On the Obituary of Scientific Knowledge Monopoly," Economics Bulletin, AccessEcon, vol. 33(4), pages 2718-2731.
    5. Simplice A. Asongu, 2014. "Knowledge Economy and Financial Sector Competition in African Countries," African Development Review, African Development Bank, vol. 26(2), pages 333-346, June.
    6. Chong, Alberto & Gradstein, Mark, 2018. "Imposed institutions and preferences for redistribution §," Journal of Institutional Economics, Cambridge University Press, vol. 14(1), pages 127-156, February.
    7. Chakraborty, Adrij, 2017. "Colonial Origins and Comparative Development: Institutions Matter," MPRA Paper 86320, University Library of Munich, Germany, revised Feb 2018.
    8. Hamilton-Hart, Natasha & Stringer, Christina, 2016. "Upgrading and exploitation in the fishing industry: Contributions of value chain analysis," Marine Policy, Elsevier, vol. 63(C), pages 166-171.
    9. Pauline Grosjean & Claudia Senik, 2011. "Democracy, Market Liberalization, and Political Preferences," The Review of Economics and Statistics, MIT Press, vol. 93(1), pages 365-381, February.
    10. Thierry Kangoye, 2008. "Instability from trade and democracy: the long-run effect of aid," Post-Print hal-00331902, HAL.
    11. Bagella, Michele & Becchetti, Leonardo & Hasan, Iftekhar, 2004. "The anticipated and concurring effects of the EMU: exchange rate volatility, institutions and growth," Journal of International Money and Finance, Elsevier, vol. 23(7-8), pages 1053-1080.
    12. Casson, Mark C. & Della Giusta, Marina & Kambhampati, Uma S., 2010. "Formal and Informal Institutions and Development," World Development, Elsevier, vol. 38(2), pages 137-141, February.
    13. Marion Payen & Patrick Rondé, 2020. "Culture, Institutions and Economic Growth," Working Papers of BETA 2020-18, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    14. Bogdan Nichifor, 2014. "Information Technology And Romanian Higher Education - Evidence On Linked Dynamic," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 19.
    15. Ricardo Fort, 2007. "Land inequality and economic growth: a dynamic panel data approach," Agricultural Economics, International Association of Agricultural Economists, vol. 37(2‐3), pages 159-165, September.
    16. Grajzl, Peter & Baniak, Andrzej, 2018. "Private enforcement, corruption, and antitrust design," Journal of Comparative Economics, Elsevier, vol. 46(1), pages 284-307.
    17. Matthias Finger & Rolf W. Künneke (ed.), 2011. "International Handbook of Network Industries," Books, Edward Elgar Publishing, number 12961.
    18. Juan Pineiro Chousa & Haider A. Khan & Davit N. Melikyan & Artur Tamazian, 2006. "Democracy, Finance and Development," CARF F-Series CARF-F-088, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    19. Simplice Asongu & Jacinta C. Nwachukwu, 2016. "PhD by Publication as an Argument for Innovation and Technology Transfer: with Emphasis on Africa," Working Papers of the African Governance and Development Institute. 16/030, African Governance and Development Institute..
    20. Simplice A. Asongu, 2014. "Finance and Democracy in Africa," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 6(3), pages 92-116, October.

    More about this item

    Keywords

    Transition; Globalization; Competitiveness; New development paradigm; Re-Industrialization;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mgs:ijoied:v:6:y:2020:i:1:p:19-30. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bojan Obrenovic (email available below). General contact details of provider: https://researchleap.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.