ECONOMIC COMPLEXITY: THE FUTURE OF THE KNOWLEDGE-BASED REGIONAL DEVELOPMENT

Theoretically seen the modern economic settings consist of a large number of a smaller complex subsets. Each economic subset is modular in terms of being made up of a large number of functionally specific parts. It is open in the sense that these parts deal with degrees of freedom. The role of knowledge in a broader sense has emerged through a better understanding of productivity, whereas some economists were especially interested in questions of a spatial nature for the process of technological changes. The research on complexity should have a broader scope and should not be limited on country-specific parameters but include configurations in clusters, which have become increasingly associated with the widely known concept of knowledge economy under the assumption that the knowledge transfer seen as a driver for enhancing output in organizations. The analysis shows the complexity of any economic subset is linked directly to the multiplicity of amount of knowledge embedded in it through different channels, where we can observe direct positive correlation. The more complex product range an organization offers the more chance to increase the odds of cooperation and innovations.