GEOEKONOMIJA, DIGITALIZACIJA I STRATEŠKI PRAVCI ODRŽIVOG RAZVOJA REPUBLIKE SRPSKE
GEOECONOMICS, DIGITALIZATION AND STRATEGIC DIRECTIONS OF SUSTAINABLE DEVELOPMENT OF THE REPUBLIC OF SRPSKA

Author(s): Boris Todorović, Marija Todorović, Zdravko Todorović
Subject(s): National Economy, Economic development, ICT Information and Communications Technologies, Geopolitics
Published by: Finrar d.o.o Banja Luka
Keywords: Geopolitics; Industrial revolutions; Digitization; Artificial intelligence; Circular economy; Zero waste;
Summary/Abstract: The purpose of the research is to look at the impact of geopolitics on the economy, and ways of adapting the economy to industrial revolutions 4.0 and 5.0. In the paper, we started from the hypothesis that global geo-economic risks cause risks for the economy, and digitalization and sustainable development guidelines provide opportunities for the economy. The strategy of sustainable development can be measured by the level of introduction of the circular economy, i.e. the approach to zero waste. By reviewing the relevant literature, we found important data on the connection and mutual influence between geopolitics, economics, digitization, industrial revolutions, global risks, sustainable development and the circular economy. In the research, we analyzed the views on the impact of global risks on the economy of The Republic of Srpska that we received from businessmen, political decision makers and researchers. Attitudes were evaluated based on a five-point Likert scale. With the draft of the research, we presented a systemic approach in the creation of the Sustainable Development Strategy of the Republic of Srpska, where we considered the influence of external and internal factors, as well as ways of measuring sustainable development through the level of waste reduction, i.e. the level of introduction of the circular economy. The practical implications of the research refer to the benefits that the Republic of Srpska will have by adjusting its economy to external and internal influencing factors. The originality of the research refers to the proposal of a model for creating a sustainable development strategy

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