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Abstract

The existence of a positive correlation between scientific and innovation potential, on one hand, and economic growth, on the other, has been confirmed in a great number of empirical and theoretical researches. The issues concerning the conditions which are suitable for the promotion of knowledge and innovation hold the central position in the consideration of methods for the stimulation of the economic growth within the contemporary economic conditions. Complex and multiple relations between scientific and technological development, and economic growth affect the key economic dimensions, as of the economically developed countries and, as a rule, highly innovative ones, so of the less developed countries and their macroeconomic dimensions, such is the case of the Western Balkan countries

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