Innovative economy in the light of reforms and busssiness modernization1

Abstract

It is widely obvious that the modern business depends on many new previously unknown factors: innovations, technology expanding, information dispersion and collection, culture, imaginations, and other intangible productive factors. This paper deals with some of the unexpected changes that we could recognise as the most influential ones in the new economy era. Purpose and findings of the substantial theoretic and empirical analysis are oriented to the modernisation and sophistication of today business, especially in developing, emerging and small countries. All of them are exposed to severe market reforms, in order to be more efficient and effective in global and regional level. This paper contains the analysis of content of global development documents and literary materials, as well as cross-referencing of statistical and other available data. The findings of this study could result in better orientation of industrial policies and clearer path for the future broader researches to be conducted in this field.