Successful economic development is a process of successive upgrading. As nations develop, they progress in terms of their characteristic competitive advantage and modes of competing.

Information and Communication Technology (ICT) affects to a great extent the output and productivity growth. Evidence suggests that investment growth in ICT has rapidly accelerated the TFP (total factor productivity) growth within the European Union. Such progress is particularly essential for...

­The literature devoted to economic development concerns itself in a growing de­gree with the role and importance of institutions­­­