The Effect of Service Clusters on the Sustainable Economic Development

Abstract

Clusterization has been named as one of the priorities of the development strategy of many European Union countries. Clusterization experts have already hypothesized that clusters of various economic activities are important not only in the formation of regional policy, but they also in a complex way stimulate the whole country’s economic growth from job creation to the development of intellectual property to new innovative industries. These realities show that cluster activity and its results are important not only for cluster participants, but also for the economy of the country in which clusters operate. However, there are currently no reliable and effective tools to validate this hypothesis. In the analysis of the problem and in order to deepen the theoretical knowledge of the object under study, this paper analyses and summarizes systematic, logical and comparative scientific literature, scientific studies, strategic documents and legal acts. Therefore, the purpose of this paper is to provide a theoretical overview of the currently available knowledge on service clusterization and sustainable economic development, to demonstrate the acute absence of relevant theoretical foundations and linkages that would allow to analyse these phenomena, and propose a methodological approach that would allow to expand this field of study.

Evaluation and Analysis of High Quality Economic Development Indicators by the Analytic Hierarchy Process Model

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“…Yaksic [1] and Nekrep et al [2] rely on national comprehensive investment funds for research and development to promote economic growth and facilitate leapfrog development. Other studies by Lezgovko and Lezgovko [3] have shown that obtaining a small portion of R and D funding will greatly help EU countries achieve their economic goals. Tsaurai and Do [4] changed the traditional ways of entrepreneurship in the past, using new technologies and innovative ways to start a business to promote economic growth.…”