| Abstract | This master's thesis explores the intricate relationship between economic growth, entrepreneurship, institutional development, and the transformative power of artificial intelligence (AI). By examining various growth theories, including the Harrod-Domar model, the Solow model, and the New Growth theory, the study sheds light on the factors driving economic progress and innovation in emerging markets and high-income economies. It emphasizes the crucial role of supportive institutional frameworks in fostering entrepreneurship and creating an enabling environment for entrepreneurial activities to thrive. The research underscores the importance of bridging the technological gap between regions, such as the USA, Europe, and emerging markets, to capitalize on the opportunities offered by AI and data science. Robust and supportive institutional frameworks not only encourage entrepreneurship but also foster innovation, attract investment, and drive economic growth. Policymakers are urged to invest in education and training programs, promote collaboration between academia and industry, and establish mechanisms for knowledge transfer and technology diffusion to facilitate institutional development. By stimulating the New Growth theory and embracing emerging technologies like AI, countries can create new institutional paths tailored to their specific contexts, contributing to economic growth, and enhancing competitiveness in the Fourth Industrial Revolution and beyond. Ultimately, this research emphasises the importance of supportive institutional frameworks, integration of emerging technologies, and strategic investment in institutional development for sustainable economic progress and global innovation. |
| Study programme | Title: Business economics; specializations in: Finance, Entrepreneurship, Management, Finance and Accounting, Marketing, International Business, IT Business
Course: Management
Study programme type: university
Study level: graduate
Academic / professional title: sveučilišni/a magistar/magistra ekonomije (sveučilišni/a magistar/magistra ekonomije) |
