Zeitschriften und Ausgaben

Volumen 60 (2022): Heft 1 (March 2022)

Volumen 59 (2021): Heft 4 (December 2021)

Volumen 59 (2021): Heft 3 (September 2021)

Volumen 59 (2021): Heft 2 (June 2021)

Volumen 59 (2021): Heft 1 (March 2021)

Volumen 58 (2020): Heft 4 (December 2020)

Volumen 58 (2020): Heft 3 (September 2020)

Volumen 58 (2020): Heft 2 (June 2020)

Volumen 58 (2020): Heft 1 (March 2020)

Volumen 57 (2019): Heft 4 (December 2019)

Volumen 57 (2019): Heft 3 (September 2019)

Volumen 57 (2019): Heft 2 (June 2019)

Volumen 57 (2019): Heft 1 (March 2019)

Volumen 56 (2018): Heft 4 (December 2018)

Volumen 56 (2018): Heft 3 (September 2018)

Volumen 56 (2018): Heft 2 (June 2018)

Volumen 56 (2018): Heft 1 (April 2018)

Volumen 55 (2017): Heft 4 (December 2017)

Volumen 55 (2017): Heft 3 (September 2017)

Volumen 55 (2017): Heft 2 (June 2017)

Volumen 55 (2017): Heft 1 (March 2017)

Volumen 54 (2016): Heft 4 (December 2016)

Volumen 54 (2016): Heft 3 (December 2016)

Volumen 54 (2016): Heft 2 (June 2016)

Volumen 54 (2016): Heft 1 (March 2016)

Volumen 53 (2015): Heft 4 (December 2015)

Volumen 53 (2015): Heft 3 (September 2015)

Volumen 53 (2015): Heft 2 (June 2015)

Volumen 53 (2015): Heft 1 (March 2015)

Volumen 52 (2014): Heft 4 (December 2014)

Volumen 52 (2014): Heft 3 (September 2014)

Volumen 52 (2014): Heft 2 (June 2014)

Volumen 52 (2014): Heft 1 (March 2014)

Zeitschriftendaten
Format
Zeitschrift
eISSN
2217-3668
Erstveröffentlichung
15 Apr 2014
Erscheinungsweise
4 Hefte pro Jahr
Sprachen
Englisch

Suche

Volumen 59 (2021): Heft 2 (June 2021)

Zeitschriftendaten
Format
Zeitschrift
eISSN
2217-3668
Erstveröffentlichung
15 Apr 2014
Erscheinungsweise
4 Hefte pro Jahr
Sprachen
Englisch

Suche

7 Artikel
Uneingeschränkter Zugang

Alignment with EU Regulations in the Field of the Competition Policy and System of State Aid in Western Balkan Countries

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 173 - 191

Zusammenfassung

Abstract

The underying idea behand the foundation of the European Union is a single, integrated and competitive market. The future of the entire Western Balkans region (Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia) lies within the European Union. The main purpose of this paper is to explore the multiplicative effects of the alignment of European Union regulations with the competition policy in Western Balkan countries. In addition, the paper is designed to highlight the specific issues, challenges in this field, and provides an overview of empirical trends. A combination of qualitative and quantitative approach proposes methodological framework which recognizes different economic environments and regulatory frameworks. By comparing selected economic indicators related to competiton authorities (number of staff in the national authorities, annual budget of the national authorities, number of prohibited agreements, abuse of dominant position, notification of concentrations, opinions), the authors give a reliable basis for comparative progress analysis in this filed. Using multi-criteria optimization as a key method, as well as network and input-output display, the obtained results suggest country whose competition authority is efficient frontier. The significance of this research stems from the current debate whether the harmonized competition policy should speed up and facilitate the process of the accession of new member states to the European Union.

Schlüsselwörter

  • competiton policy
  • system of state aid
  • European integration
  • Western Balkans
  • multicriteria optimization

JEL Classification

  • C61
  • C67
  • D40
  • K21
Uneingeschränkter Zugang

Structural Transformation of the Textile Industry: The Case of the Republic of Serbia

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 193 - 210

Zusammenfassung

Abstract

In the last few decades, the textile industry has been marked by great changes in its production and trade structure. Based on that, a greater involvement of this industry in the flows of international trade was initiated, with the stable intensification of the export positions of new production leaders. At the same time, this has led to key changes in the regional allocation of exports and imports of textile products. On the other hand, the textile industry of the Republic of Serbia has a long tradition and has had an important place in the structure of manufacturing industry for a long time. After the Second World War, the textile industry was one of the most important instruments of demographic and social policy. During the construction of the market system, the textile industry of the Republic of Serbia was unjustifiably neglected. Despite that fact, in the modern conditions, the textile industry has very important place in the exports structure of the Republic of Serbia. This paper gives specific theoretical and empirical recommendations to Serbian policy creators, through a comparison of the results of structural transformation of the textile industry at the global level and the results of this process in the textile industry of the Republic of Serbia.

Schlüsselwörter

  • textile industry
  • structural transformation
  • production
  • foreign trade
  • Republic of Serbia

JEL Classification

  • 014
  • L16
  • L52
Uneingeschränkter Zugang

South Korea’s Economic Development and Trade Relations with Serbia: Trends and Perspectives

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 211 - 226

Zusammenfassung

Abstract

The spectacular economic development of South Korea in recent decades has continuously intrigued economists, academic community and general public. Whether such a development model be applied to other, less developed countries is one of the topics often explored in a number of studies and debates. Therefore, the principles of South Korean development model and the economic parameters of its foreign trade today, are some of the research aims of this paper. The research focuses on economic relations between South Korea and Serbia, current trends and prospects for future economic cooperation through the analysis of comparative advantage of the most prominent export products and industries, using the RCA index. The analysis shows that Serbia has a potential to further improve cooperation with South Korea in several export sectors, and coupled with investments in human resources and infrastructure, as well as the active promotion of Serbian market to South Korean companies, it may be one of the vectors of their future cooperation.

Schlüsselwörter

  • South Korea-Serbia cooperation
  • Revealed Comparative Advantage
  • foreign trade
  • development model

JEL Classification

  • 014
  • L16
  • L52
Uneingeschränkter Zugang

Corporate Social Responsibility in Contemporary Organizations: Evidence from Serbian Processing Industry

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 227 - 241

Zusammenfassung

Abstract

Corporate social responsibility (CSR), as a concept that tackles economic, social, and environmental dimensions of business, becomes more and more implemented in companies all around the world. There are different effects that CSR can have on business performance, but it is generally accepted that CSR is related to positive outcomes in business organizations. Also, CSR is a concept that can be understood as a way of reaching sustainable development in the future. This paper aims to investigate the level of the implementation of CSR in Serbia, concerning large companies in the processing industry. The methodology used in the paper obtains exploration of theoretical sources, but also the analysis of primary empirical data gathered in Serbia, in the period from November 2019 until June 2020. The authors designed a questionnaire to explore the state of the art of CSR in Serbia, in business organizations, based on previous successful empirical research. Descriptive statistics, factor analysis, Mann-Whitney, and Kruskal Wallis tests were used to investigate the CSR on the sample of 73 large companies in Serbia’s processing industry. The analyses were made in SPSS software. The results point to the relatively high level of CSR activities in Serbian processing companies, and to the fact that modern companies understand the need of reaching more diversified goals than just economic ones in their business.

Schlüsselwörter

  • corporate social responsibility
  • sustainable development
  • processing industry
  • large organizations
  • Serbia

JEL Classification

  • M21
  • D21
  • L14
Uneingeschränkter Zugang

Modelling Development of Voluntary Pension Fund Using Mathematical Model of Approximation with Lagrange Interpolation Polynomials

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 243 - 257

Zusammenfassung

Abstract

Corporate social responsibility (CSR), as a concept that tackles economic, The introduction of private pension funds is the essence of the reform of the pension system in Serbia. Private pension funds in Serbia are based on voluntary benefits. Thus, the functioning of the pension system takes place in three interconnected processes: payments to a voluntary pension fund, investment of free funds, and ultimately programmed payments – pensions. The stability in the voluntary pension funds and the predictability of payments allow the quality of investment portfolio to be formed and achieve a long-term yield of investment. In this paper, we implement a well-known approximation method of Lagrange polynomial interpolation. We use it in order to find appropriate mathematical model for prediction of the number of fund members and the average salary in Serbia. This calculation is based on data (average salaries and fund member) from the last five years, i.e. from the period 2015-2019. We calculated the exact mathematical formula, then we compared the results and predictions obtained with that formula and with the formula from one of our previous works. In keeping with that, the appropriate conclusions were given..

Schlüsselwörter

  • pension system
  • voluntary pension funds
  • mathematical model
  • Lagrange interpolation.

JEL Classification

  • C38
  • G11
  • G23
  • J32
Uneingeschränkter Zugang

Statistical Analysis of Interdependence of ICT and Economic Development of Selected European Countries

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 259 - 280

Zusammenfassung

Abstract

The research focus on the analysis of interdependence of economic and ICT development results from the fact that, in recent decades, ICTs have become a dominant factor in generating socio-economic prosperity of countries. ICT expansion is a stimulus for economic growth, and vice versa. In order to empirically verify the observed interdependence, on the example of the selected 37 European countries, a two-stage statistical analysis was conducted, based on a combined application of cluster analysis and a oneway analysis of variance. Using specific data from 2017, the following was conducted: (a) formation of groups of countries by implementing cluster analysis based on the three structural components of the ICT Development Index; and (b) by applying the ANOVA method and using the values of GDP per capita, testing the validity of assumption regarding the existence of statistically significant differences, in terms of the achieved level of economic development between the formed groups of countries of different levels of ICT development. The obtained results suggest the extraction of three clusters of countries and the acceptance of the defined hypothesis. Serbia is classified within the cluster of medium ICT development level and is characterized by the value of GDP per capita that is significantly below the group average, which indicates the possibility and the need for improvement in the ICT field.

Schlüsselwörter

  • statistical analysis
  • cluster analysis
  • ANOVA
  • ICT development
  • economic development
  • selected European countries

JEL Classification

  • C38
  • C12
  • O33
  • O47
  • O57
Uneingeschränkter Zugang

The Role of Macroprudential Policy in Bank Housing Loans Portfolio Quality Assurance

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 281 - 296

Zusammenfassung

Abstract

The subject of this paper is the contemporary trend in residential real estate markets in European countries and their impact on the quality of banks’ housing loan portfolios. Due to the fact that these are the markets that still have not fully recovered from the previous financial crisis, and at the time of writing were exposed to significant uncertainty related to the effects of specific business conditions caused by COVID-19, the research on the risks related to these markets and tools which can mitigate their consequences are of paramount importance. Given the fact that the importance of monitoring the emergence of systemic risks in the financial system and the design of macroprudential tools for Bosnia and Herzegovina is yet to come, one of the aims of the paper is to present the results of the research on the effectiveness of certain macroprudential policy measures for mitigating the impact of price fluctuations in residential real estate markets. A special attention is paid to the challenges that the real estate market and mortgage loans have been facing during the crisis caused by the COVID-19 pandemic. The paper provides a basis for future researches examining to which extent the applied macroprudential policy measures in some countries have been effective in hitherto unprecedented business conditions

Schlüsselwörter

  • real estate market crashes
  • non-performing loans
  • macropruden tial policy

JEL Classification

  • E32
  • G01
  • G21
  • E44
7 Artikel
Uneingeschränkter Zugang

Alignment with EU Regulations in the Field of the Competition Policy and System of State Aid in Western Balkan Countries

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 173 - 191

Zusammenfassung

Abstract

The underying idea behand the foundation of the European Union is a single, integrated and competitive market. The future of the entire Western Balkans region (Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia) lies within the European Union. The main purpose of this paper is to explore the multiplicative effects of the alignment of European Union regulations with the competition policy in Western Balkan countries. In addition, the paper is designed to highlight the specific issues, challenges in this field, and provides an overview of empirical trends. A combination of qualitative and quantitative approach proposes methodological framework which recognizes different economic environments and regulatory frameworks. By comparing selected economic indicators related to competiton authorities (number of staff in the national authorities, annual budget of the national authorities, number of prohibited agreements, abuse of dominant position, notification of concentrations, opinions), the authors give a reliable basis for comparative progress analysis in this filed. Using multi-criteria optimization as a key method, as well as network and input-output display, the obtained results suggest country whose competition authority is efficient frontier. The significance of this research stems from the current debate whether the harmonized competition policy should speed up and facilitate the process of the accession of new member states to the European Union.

Schlüsselwörter

  • competiton policy
  • system of state aid
  • European integration
  • Western Balkans
  • multicriteria optimization

JEL Classification

  • C61
  • C67
  • D40
  • K21
Uneingeschränkter Zugang

Structural Transformation of the Textile Industry: The Case of the Republic of Serbia

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 193 - 210

Zusammenfassung

Abstract

In the last few decades, the textile industry has been marked by great changes in its production and trade structure. Based on that, a greater involvement of this industry in the flows of international trade was initiated, with the stable intensification of the export positions of new production leaders. At the same time, this has led to key changes in the regional allocation of exports and imports of textile products. On the other hand, the textile industry of the Republic of Serbia has a long tradition and has had an important place in the structure of manufacturing industry for a long time. After the Second World War, the textile industry was one of the most important instruments of demographic and social policy. During the construction of the market system, the textile industry of the Republic of Serbia was unjustifiably neglected. Despite that fact, in the modern conditions, the textile industry has very important place in the exports structure of the Republic of Serbia. This paper gives specific theoretical and empirical recommendations to Serbian policy creators, through a comparison of the results of structural transformation of the textile industry at the global level and the results of this process in the textile industry of the Republic of Serbia.

Schlüsselwörter

  • textile industry
  • structural transformation
  • production
  • foreign trade
  • Republic of Serbia

JEL Classification

  • 014
  • L16
  • L52
Uneingeschränkter Zugang

South Korea’s Economic Development and Trade Relations with Serbia: Trends and Perspectives

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 211 - 226

Zusammenfassung

Abstract

The spectacular economic development of South Korea in recent decades has continuously intrigued economists, academic community and general public. Whether such a development model be applied to other, less developed countries is one of the topics often explored in a number of studies and debates. Therefore, the principles of South Korean development model and the economic parameters of its foreign trade today, are some of the research aims of this paper. The research focuses on economic relations between South Korea and Serbia, current trends and prospects for future economic cooperation through the analysis of comparative advantage of the most prominent export products and industries, using the RCA index. The analysis shows that Serbia has a potential to further improve cooperation with South Korea in several export sectors, and coupled with investments in human resources and infrastructure, as well as the active promotion of Serbian market to South Korean companies, it may be one of the vectors of their future cooperation.

Schlüsselwörter

  • South Korea-Serbia cooperation
  • Revealed Comparative Advantage
  • foreign trade
  • development model

JEL Classification

  • 014
  • L16
  • L52
Uneingeschränkter Zugang

Corporate Social Responsibility in Contemporary Organizations: Evidence from Serbian Processing Industry

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 227 - 241

Zusammenfassung

Abstract

Corporate social responsibility (CSR), as a concept that tackles economic, social, and environmental dimensions of business, becomes more and more implemented in companies all around the world. There are different effects that CSR can have on business performance, but it is generally accepted that CSR is related to positive outcomes in business organizations. Also, CSR is a concept that can be understood as a way of reaching sustainable development in the future. This paper aims to investigate the level of the implementation of CSR in Serbia, concerning large companies in the processing industry. The methodology used in the paper obtains exploration of theoretical sources, but also the analysis of primary empirical data gathered in Serbia, in the period from November 2019 until June 2020. The authors designed a questionnaire to explore the state of the art of CSR in Serbia, in business organizations, based on previous successful empirical research. Descriptive statistics, factor analysis, Mann-Whitney, and Kruskal Wallis tests were used to investigate the CSR on the sample of 73 large companies in Serbia’s processing industry. The analyses were made in SPSS software. The results point to the relatively high level of CSR activities in Serbian processing companies, and to the fact that modern companies understand the need of reaching more diversified goals than just economic ones in their business.

Schlüsselwörter

  • corporate social responsibility
  • sustainable development
  • processing industry
  • large organizations
  • Serbia

JEL Classification

  • M21
  • D21
  • L14
Uneingeschränkter Zugang

Modelling Development of Voluntary Pension Fund Using Mathematical Model of Approximation with Lagrange Interpolation Polynomials

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 243 - 257

Zusammenfassung

Abstract

Corporate social responsibility (CSR), as a concept that tackles economic, The introduction of private pension funds is the essence of the reform of the pension system in Serbia. Private pension funds in Serbia are based on voluntary benefits. Thus, the functioning of the pension system takes place in three interconnected processes: payments to a voluntary pension fund, investment of free funds, and ultimately programmed payments – pensions. The stability in the voluntary pension funds and the predictability of payments allow the quality of investment portfolio to be formed and achieve a long-term yield of investment. In this paper, we implement a well-known approximation method of Lagrange polynomial interpolation. We use it in order to find appropriate mathematical model for prediction of the number of fund members and the average salary in Serbia. This calculation is based on data (average salaries and fund member) from the last five years, i.e. from the period 2015-2019. We calculated the exact mathematical formula, then we compared the results and predictions obtained with that formula and with the formula from one of our previous works. In keeping with that, the appropriate conclusions were given..

Schlüsselwörter

  • pension system
  • voluntary pension funds
  • mathematical model
  • Lagrange interpolation.

JEL Classification

  • C38
  • G11
  • G23
  • J32
Uneingeschränkter Zugang

Statistical Analysis of Interdependence of ICT and Economic Development of Selected European Countries

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 259 - 280

Zusammenfassung

Abstract

The research focus on the analysis of interdependence of economic and ICT development results from the fact that, in recent decades, ICTs have become a dominant factor in generating socio-economic prosperity of countries. ICT expansion is a stimulus for economic growth, and vice versa. In order to empirically verify the observed interdependence, on the example of the selected 37 European countries, a two-stage statistical analysis was conducted, based on a combined application of cluster analysis and a oneway analysis of variance. Using specific data from 2017, the following was conducted: (a) formation of groups of countries by implementing cluster analysis based on the three structural components of the ICT Development Index; and (b) by applying the ANOVA method and using the values of GDP per capita, testing the validity of assumption regarding the existence of statistically significant differences, in terms of the achieved level of economic development between the formed groups of countries of different levels of ICT development. The obtained results suggest the extraction of three clusters of countries and the acceptance of the defined hypothesis. Serbia is classified within the cluster of medium ICT development level and is characterized by the value of GDP per capita that is significantly below the group average, which indicates the possibility and the need for improvement in the ICT field.

Schlüsselwörter

  • statistical analysis
  • cluster analysis
  • ANOVA
  • ICT development
  • economic development
  • selected European countries

JEL Classification

  • C38
  • C12
  • O33
  • O47
  • O57
Uneingeschränkter Zugang

The Role of Macroprudential Policy in Bank Housing Loans Portfolio Quality Assurance

Online veröffentlicht: 14 Dec 2021
Seitenbereich: 281 - 296

Zusammenfassung

Abstract

The subject of this paper is the contemporary trend in residential real estate markets in European countries and their impact on the quality of banks’ housing loan portfolios. Due to the fact that these are the markets that still have not fully recovered from the previous financial crisis, and at the time of writing were exposed to significant uncertainty related to the effects of specific business conditions caused by COVID-19, the research on the risks related to these markets and tools which can mitigate their consequences are of paramount importance. Given the fact that the importance of monitoring the emergence of systemic risks in the financial system and the design of macroprudential tools for Bosnia and Herzegovina is yet to come, one of the aims of the paper is to present the results of the research on the effectiveness of certain macroprudential policy measures for mitigating the impact of price fluctuations in residential real estate markets. A special attention is paid to the challenges that the real estate market and mortgage loans have been facing during the crisis caused by the COVID-19 pandemic. The paper provides a basis for future researches examining to which extent the applied macroprudential policy measures in some countries have been effective in hitherto unprecedented business conditions

Schlüsselwörter

  • real estate market crashes
  • non-performing loans
  • macropruden tial policy

JEL Classification

  • E32
  • G01
  • G21
  • E44

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