This paper presents a thorough theoretical scientific analysis on cluster life cycles and highlights in detail the main structuring of the life-cycle types. Moreover, based on the provided example of the maritime industry cluster conditions, the author presents a deductive analysis of the entire cluster life cycle distinguishing the main local and global driving factors. Using scientific literature analysis and synthesis, systemization, as well as deduction there are outlined the emergence and evolution of the key cluster driving forces. Finally, the paper provides the most important findings on the cluster life cycle conditions that have impact on the cluster development processes.
The effective attraction of investments to the national economy is a key factor, which provides favourable conditions to perform structural changes in the national economy, regional development as well as promotes technical progress. Therefore, investments in the public and the private sectors conduce development of the national economy and provide conditions to increase the overall competitiveness of a country. The purpose of research is to evaluate investment processes in Latvia before and after the global financial crisis, revealing investment-related problems. Also, to calculate the level of the desired investment, which would ensure the Latvia’s average GDP growth of 5% per year, according to the target set by the NDP. The analysis employs different qualitative and quantitative analysis methods, such as: scientific literature and empirical research analysis, modelling tables, charts and schemes, calculations of average and relative values, grouping, comparison and other. Publications on investment and research by Latvian and international scholars are analysed seeking to define the investment role on the economic growth process. The authors use the data available in the Central Statistical Bureau of the Republic of Latvia and Eurostat data bases, reports by the Ministry of Economics of the Republic of Latvia, the World Bank, the OECD and other studies of international organizations, as well as information provided in the Internet. As a result of research there have been defined the investment policy directions and essential obstacles that delay investment attraction in Latvia.
Sustainable economic development isbased on the favourable and stable business environment that promotescompetitiveness of companies. Commercial banks facilitate the capital flow fromthe less efficient sectors of the economy and businesses to more competitiveindustries and enterprises. The purpose of the research is to analyze the dynamicsof the Baltic States’ GDPs during years 2005–2010and to test the GDP correlation with the loans issued by domestic commercialbanks to the businesses. The key results of the analysis provide evidence aboutthe mutual relations between the leading and influencing factors in GDP andissued loans and serve as a basis for developing proposals on fostering the recoveryof Baltic States’ economies. The Granger testanalysis performed for the aggregate GDP and lending, as well as for six industries,provides controversial results and indicates that output in some industries hasmutual relationship with the availability of financial resources, however thebusiness sector development leads to the increase of credit granting thus ensuringthe development of the sector. The methods applied in the research comprise thesystematic, logical and comparative analysis, analysis of statistical data,expert method and generalization, as well as the econometric Granger causalitytest method.