Directions of the development of the knowledge economy (KE) depends on certain specific socioeconomic impacts. The importance of concrete influence depends on the economic, commercial, historical and social environment of the country. The comparative analysis of the development of KE in the former socialist countries of the European Union and Serbia can contribute to the determination of the socio-economic impacts which act favorably on the development of KE. Dynamics of the KE development is conditioned by the following socio-economic impacts: economic growth, macroeconomic stability, public finance, Information and communications technology (ICT) infrastructure, foreign direct investment, corporate sector and the ICT industry, changing of the consumption patterns, policy of the KE development, privatization, intellectual property and education. Identified socio-economic impacts define the direction of the development of the KE in transitional countries such as Serbia. Also, they influence the dinamic of the development of Serbia as an information society. The implementation of the ICT is of great importance in the construction of the information society KE in the countries in transition. Changes in the ICT cause the changes in the influence on the national level, so the constant tracking is necessary in order to create a positive environment for the development of information society and the economy of knowledge in Serbia.