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Need for a New Paradigm of Economic Development

Author

Listed:
  • Rossitsa Chobanova

    (Economic Research Institute, Bulgarian Academy of Science, Sofia, Bulgaria)

Abstract

A new stage in the economic development has been highlighted, associated with digitalization as a penetration of information and communication technologies in the economy and society. The new stage requires a new paradigm of development to be defined. Arguments are given based on the application of Hegel's understanding of the development of society. Among them are contemporary inability of the subjects and means of development from the old stage to contribute to achievement the goals of the new stage of development; reduction of potential for development because of the very low intensity of research in the last 30 years; the inability to increase it from 0.5% to 1.5% for the country and to 3% for the EU; reduction of the demand for nationally based results in terms of global supply; accelerated lagging technological development of the country due to the very limited research and development resources.

Suggested Citation

  • Rossitsa Chobanova, 2020. "Need for a New Paradigm of Economic Development," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 275-288, August.
    • Handle: RePEc:nwe:natrud:y:2020:i:3:p:275-288
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/10275
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    Citations

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    Cited by:

    1. Alla Kirova, 2020. "Looking at New Economic Parameters in National, Regional, European and Global Context," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 3-27.
    2. Rossitsa Chobanova, 2021. "The new stage of economic development," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 3-31,32-60.
    3. Marin Galabov, 2020. "Economic Efficiency of Real Sector Companies – Nature, Types, Elements, Indicators and Models," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 28-59.

    More about this item

    Keywords

    economic development; Hegel; paradigm; change; information and communication technologies; Bulgaria;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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