LATVIA AND THE KNOWLEDGE SOCIETY: DEVELOPMENT, UNDERDEVELOPMENT AND MACROECONOMIC PERFORMANCE

• Authors: Berzins Janis
• Languages of publication: EN

Abstracts

EN

Development differs from growth, which is related only to the improvement of economic indicators; in other words, a country's economy may grow in a stationary way without real development that is dependent on innovation. Also, there is a relationship between development and growth. This study looks at the current development of Latvia and concludes that there is growth but not development. The author suggests that only a profound change in the local political culture, along with policies for attracting foreign direct investment and directing local savings to strategic sectors, can change the current socio-economic situation in Latvia. The main challenge is to direct these changes in a way that shapes structures based on the knowledge society. That would ensure a non-subordinated insertion of the country into the international division of labour, stabilise the economy, improve its macroeconomic performance and develop the country.

Keywords

EN

DEVELOPMENT; KNOWLEDGE SOCIETY; MACROECONOMIC PERFORMANCE; UNDERDEVELOPMENT

Discipline

• ECONOMICS: ECONOMICS

• Publisher: EPC Ltd (Economic Prognosis Centre), Riga, Latvia (till March 2009 - Institute of Economics, Latvian Academy of Sciences, Ltd)
• Journal: Humanities and Social Sciences: Latvia
• Year: 2009
• Issue: 1(58)
• Pages: 42-68
• Document type: ARTICLE

Contributors

author

Berzins Janis

• Janis Berzins, Riga Stradina University, Faculty of European Studies, Department of Political Sciences, Dzirciema 16, Riga, LV 1007, Latvia

Identifiers

CEJSH db identifier

09LVAAAA05759