Development of the technological component of the macro environment in Baltic sea region countries

Abstract

During the period of economic crisis, the development of production economy has a crucial role in the promotion of the states national economy’s competitiveness as a whole. The world’s strongest states have shifted from process efficiency driven economies to innovation driven economies, so the business macro environment (BME) has the important part in the development of production economy’s technological component that would ensure the achievement of sufficiently high production level

The purpose of the research is to perform the contrastive analysis of BME technological component in the countries of the Baltic Sea Region in the period from 2003 to 2009, and identify the factors that have a significant influence on the development of technological component and promote rapprochement/disassociation between the states.

To accomplish the purpose the methodological bibliography was overviewed and the analysis of countries of the Baltic Sea Region macro environment’s statistical data were made, as well as performed the analysis and calculations of technological component and its sub-index.

The results of research lead to conclusions that in almost all BME technological component related spheres, Latvia is in the lowest position among countries of the Baltic Sea Region, so to provide the competitiveness for Latvian companies, it need to be immediately improved in the latest technology related fields.