Innovation and its perspectives in Republic of Macedonia
Innovation and its perspectives in Republic of Macedonia

Summary/Abstract: In contemporary world innovation is equally important factor for competitiveness in both the world and the domestic market. The country's ability to sustain economic growth and competitiveness is in the activation of innovation and learning. Hence, the innovation present a challenge for any one country and company in particular for those companies that are exposed to international competition.Taking into account the importance of innovation in the modern world, this paper considers the issue of innovation of the Republic of Macedonia as well as opportunities for its improvement. For this purpose is analyzed the data available in several commonly cited and used indexes of innovation. The working hypothesis in this paper is that the Republic of Macedonia regarding the innovation is a typical example of a Southeast Europe region and together with the other countries of the region is far from the innovative leaders and significantly lagging behind the EU-28 average. The major findings of the paper confirm that Macedonia is a "modest innovator", a typical representative of the South Eastern Europe (SEE) countries, and based on the perceived strengths and weaknesses, there is still much to do to improve its current condition of innovation.

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