Makroekonomska efikasnost kao faktor dugoročnog ekonomskog razvoja Bosne i Hercegovine
Macroeconomic efficiency as a factor in the long-term economic development of Bosnia and Herzegovina

Summary/Abstract: In their desire to develop all the segments of social life as fast as possible, modern states primarily attempt to use the available economic and overall development resources more efficiently. In order to achieve the established strategic goals they have, at their disposal, the general and particular methodological apparatus. This allows them to achieve the desired model of development and a high degree of macroeconomic and developmental efficiency, which is expressed and measured using appropriate methods, techniques and indicators. For Bosnia and Herzegovina, which gained its independence and international recognition only a decade and half ago, the macroeconomic efficiency achieved by its economy is very important. Essentially, it leads to its ranking in the list of global competitiveness made by the World Economic Forum (WEF) every year. The present conditions of B-H global competitiveness are not favourable, although one can discern potentials for their improvement in near future. The macroeconomic analysis in the following paper points to the paths toward the increase in our country competitiveness. The paper this presents the results of the study into macroeconomic competitivenes of B-H economy in the period when it was part of ex-SFRY, then during the 1992-1995 war, and in the post-war period, by using the „Sollow development model“, and appropriate quantitive methodology for comparative analysis. Besides, it considers relevant development determinants and factors of the future economic strategy of Bosnia and Herzegovina as a small, open-economy country (SOE). On this basis it offers, it seems, an acceptable future developmental orientation of our country, which can successfully be translated into an official document of long-term economic development strategy. The author of the paper particularly respected the fact that the longterm economic strategy will proceed in the conditions of globalization, integration and liberalization of world economy.

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