Is there a hope for ”small companies” in conditions of globalization?

Abstract

In this paper, the authors start from the key argument that the level of national competitivness completely re?ects the level of a certain country to create a growing prosperity for its citizens. Te starting hypothesis considers that competitivness of one national economy depends on various factors. Moreover, based on the experience of developed countries that are leaders, concerning the level of competitiveness, we may conclude that competitiveness depends mainly on knowledge and innovativeness, i.e., non-price factors of competitiveness. In this sense, the problem concerning the growth and development of transitional countries in conditions of global crisis is observed taking into account the danger from the process of globalization which suggest that the recovery could be reached through ‘economy of knowledge`.