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It is justified that the economic crisis is cyclical and is associated with a change in technological paradigm. The economic crisis is a process characterized by fluctuations in economic activity and it manifests itself in economic, social, environmental and political disruptions. In the sixth technological paradigm, economic growth ensured by the introduction of fundamentally new forms of combining tools and labor items that can ensure the maximum productivity in use of resources. The “core” of the sixth technological paradigm is alternative and nuclear energy, healthcare, education, aviation-, ship- and machine tool engineering, electrical engineering, telecommunications, etc., and “key factors” – information and communication technologies, biotechnology, nanotechnology. The formation of the sixth technological paradigm significantly transforms the structure of productive forces and the system of industrial relations, it change the product and the process of its advancement in various areas: health, education, energy, public services, etc. As a result, the quality characteristics of services and goods are significantly changed, as well as, the level of accessibility to material and intangible benefits of all groups of the population is increased. In this regard, effectiveness of inclusive initiatives requires the consolidation of the efforts of civil society, the State and business, the reform of the education system and the creation of conditions for increasing the level of motivation and social responsibility of society.
It is justified that the economic crisis is cyclical and is associated with a change in technological paradigm. The economic crisis is a process characterized by fluctuations in economic activity and it manifests itself in economic, social, environmental and political disruptions. In the sixth technological paradigm, economic growth ensured by the introduction of fundamentally new forms of combining tools and labor items that can ensure the maximum productivity in use of resources. The “core” of the sixth technological paradigm is alternative and nuclear energy, healthcare, education, aviation-, ship- and machine tool engineering, electrical engineering, telecommunications, etc., and “key factors” – information and communication technologies, biotechnology, nanotechnology. The formation of the sixth technological paradigm significantly transforms the structure of productive forces and the system of industrial relations, it change the product and the process of its advancement in various areas: health, education, energy, public services, etc. As a result, the quality characteristics of services and goods are significantly changed, as well as, the level of accessibility to material and intangible benefits of all groups of the population is increased. In this regard, effectiveness of inclusive initiatives requires the consolidation of the efforts of civil society, the State and business, the reform of the education system and the creation of conditions for increasing the level of motivation and social responsibility of society.
This paper aims to analyze the economic performance of Balkan countries in comparison to the European Union (EU) average, with the objective of assessing the convergence of Balkan nations toward the EU during the period 2000–2019. The economic variables under consideration encompass per capita income, the corruption perception index (CPI), salary levels, and direct foreign investments. Employing β-convergence, rooted in neoclassical growth theories, this study aims to test the hypothesis that economically disadvantaged countries experience more rapid growth in per capita income than their wealthier counterparts. The empirical findings of this investigation reveal a discernible long-term convergence among the Balkan countries themselves, as well as towards the EU member states. The rate of convergence exhibits variations contingent upon the developmental status of the respective countries, along with nuances related to their economic structure and corruption levels. Despite these observed convergences, a substantial gap persists, and the pace of economic integration of Balkan nations into the EU appears to be a gradual process. This study underscores the complex relationship between economic convergence, country-specific characteristics, and the broader context of regional integration.
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