IMPACT OF TECHNOLOGICAL INNOVATION ON COMPETITIVENESS OF TRANSITION COUNTRIES

In this paper we analyze the impact of technological innovation on the competitiveness of the countries which started the process of transition in 1990. Transition countries are dividied into two groups: those which have not completed the process of transition, and those which have successfully completed the transformation of their economies. We used the concept of Global Competitiveness Index (GC), developed by the World Economic Forum (WEF), to measure competitiveness. The analysis starts by formulating two hypotheses, involving technological readinness and innovation. T-test was used for confirming the first hypothesis, Pearson's correlation coefficient and Spearman's rank correlation coefficient were used in the case of the other.