Investment in Research and Development - A Factor of Adjustment of Montenegro to the EU Economy

Marko Tomljanović; Zoran Grubišić

doi:10.1515/jcbtp-2016-0024

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Investment in Research and Development - A Factor of Adjustment of Montenegro to the EU Economy

Journal of Central Banking Theory and Practice

Volume 5 (2016): Issue 3 (September 2016)

By: Marko Tomljanović and Zoran Grubišić

Open Access

|Sep 2016

Abstract

Montenegro and other Western Balkan countries are characterized by historical mortgages, political instability, commenced but uncompleted structural reforms and unfavourable economic situation, which all contributed to their lagging behind other EU member states. In addition to this, these countries have been faced with a low level of investment in research and development, unfavourable educational structure, low level of innovation and a lack of awareness about the importance of research and development in modern economies.

The economic and political situation led to their determination to become a full EU member, which requires the fulfilment of specified criteria, implementation of structural reforms and “catching up” with other EU member states. Investment into research and development are found to be the key factor for fulfilling their objective – EU membership.

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Articles in this issue

DOI: https://doi.org/10.1515/jcbtp-2016-0024 | Journal eISSN: 2336-9205

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Language: English

Page range: 139 - 164

Submitted on: May 25, 2016

Accepted on: Jul 10, 2016

Published on: Sep 23, 2016

Published by: Central Bank of Montenegro

In partnership with: Paradigm Publishing Services

Publication frequency: 3 issues per year

Keywords:

economic growth,

EU,

expenditure,

Montenegro,

research and development

Related subjects:

Business and economics,

Business management,

Business management, other

© 2016 Marko Tomljanović, Zoran Grubišić, published by Central Bank of Montenegro
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Volume 5 (2016): Issue 3 (September 2016)