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

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.

"Second curve" concept as a key driver of economic development in the emerging markets

“…It turned out that countries of SEE had no structural reforms, before or after the slowdown in economic growth during the crisis of 2008-2009, as evidenced in many reports on the so-called transition indicators (Lojpur et al, 2020). Also, it is a fact that other, less developed countries are deeply involved in the neoliberal international division of labor that had many and negative consequences for them.…”

“…Global challenges that the EU faces are still the same, but they have gained momentum and complexity -continuous economic strengthening of emerging countries, reorganization of finances at the global level, climate change, and limited resources. These tendencies, as recognized by the EU development documents, such as e.g., "Strategy 2020", are especially valid for countries that have already "joined" the EU, but are often treated as "poor relatives" (Lojpur et al, 2020).…”

“…mechanisms aimed at achieving specific goals of each industry, or the economy as a whole, which implies productivity, and significant contribution of industry to the growth of GDP. At the same time, industrial policy is concerned with an entire mix of a country's economic policies, so it is now even clearer why the matter of reindustrialization is at the very top of problems both in the EU and most countries in transition (Lojpur, 2020). While on the subject, the very notion of industrial policy has become legitimate in Europe once again, in terms of creating a more favorable environment for industrial development.…”

The role of information communication technologies as a moderator of knowledge creation and knowledge sharing in improving the quality of healthcare services

“…In essence, this concept implies a process of efficient and effective learning, through research, exploitation and sharing of human knowledge, with a support of adequate technological advancements [ 5 ]. Previous research posits the concept of knowledge management as a determinant of organizational success [ 6 ], improved service quality [ 7 ] and as a tool that enables organizations to make internal improvements [ 8 , 9 ].…”