Small and medium enterprises (SMEs) represent an important part of the Croatian economy. In 2011 SMEs achieved a share of 50.2% of gross domestic product (GDP), 65.5% of employment and 42% of Croatian exports. In the paper will be elaborated importance of the small and medium enterprise sector...

We use a dynamic model to study the effects of technology and learning on the long run economic growth rates of a leading and a lagging region. New technologies are developed in the leading region but technological improvements in the lagging region are the result of learning from the leading...

We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i=1,...,N, our analysis leads to five findings. First, we define the balanced growth path (BGP) allocations and the equilibrium...