Macroeconomic and Legal Framework of Competitiveness of Economy and ICT Sector in Serbia

Information and communication technology is a driving force and key component of economic development. The contribution of ICT sector lies in increase of production and export of the very sector and of the competitiveness of economy as a whole. Competitiveness is a synonym for productivity and can be enhanced by rational use and investments in resources, by applying latest knowledge in practice, investing, increasing efficiency of business activities and by introducing modern technologies to the process of production. Competitiveness also implies development of infrastructure, telecommunications and intensive use of the Internet. According to the Global Competitiveness Index, Serbia is poorly positioned. Greatest advantages exist in the fields of elementary and higher education, level of technological readiness and innovativeness. An analysis of technological readiness and degree of innovativeness within the global competitiveness of Serbian economy in 2009 indicates a high level of competitiveness and potential to be developed. Transfer of technology from developed countries is a basis for long-term sustainable economic growth and development. This paper focuses on analysis of competitiveness of Serbian economy, international economic environment and determinants of competitiveness.