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Serbian Youth Labor Market Before Covid19: Defining Consequences of Crisis
Get PDFDespite numerous policies intended to address the challenges that youth facing in the
labor market, Serbia still has high and tenacious rates of youth unemployment. The
economic crisis induced by Covid-19 pandemic has led to the decline in employment
activity, making it even harder for youth to enter labor market and obtain decent
employment. In order to provide insights into the issue of youth unemployment in
complex circumstances, this analyzes the factors that affect unemployment among
youth aged 15 to 29. Investigated factors included gender, rural/urban area of origin,
region, educational level and household material situation. For this purpose the micro-data of the Labor Force Survey (LFS) 2019 were used and the logistic regression
analysis was applied. The results confirm the impact of almost all investigated factors
on youth unemployment, except for that of region
The Role of Smart Specialisation Strategy in Economic Recovery and Sustainable Development in the Post COVID-19 Era
Get PDFSmart specialisation is an innovation policy concept which aims to develop competitive advantages of regions/countries based on their innovation potential and applying evidence-based analysis. The objective of this paper is to analyse the potential of smart specialisation strategies (S3) to support economic recovery after the crisis caused by the Covid-19 pandemic and support sustainability imposed as one of the most important pillars of the new EU growth strategy. The results of the conducted analysis indicate that: 1) smart specialisation strategies are economic transformation agendas based on identifying key national/regional priorities, 2) selection of S3 priorities is based on the analysis of innovative, scientific and economic potential as well as relevant societal challenges, 3) S3 is highly accepted approach not only in the EU and enlargement countries, but also worldwide, 4) S3 is an effective tool for the economic recovery after the Covid-19 crisis and achieving sustainable development goals
A Novel Approach to Generate Hourly Photovoltaic Power Scenarios
Get PDFPhotovoltaic power is playing an ever-increasing role in the energy mix of countries
worldwide. It is a stochastic energy source, and simulation models are needed to establish reliable risk
management. This paper presents a novel approach for simulating hourly solar irradiation and—as a
consequence—photovoltaic power based on easily accessible data such as wind, temperature, and
cloudiness. Solar simulations are generated via a multiplication factor that scales the maximum
possible solar irradiation. Photovoltaic simulations are then derived using formulas that approximate
the physical interdependencies. The resulting simulations are unbiased on an annual level and
reasonably reflect historic irradiation movements. Interpreting our approach as a descriptive model,
we find that error values vary over the year and with granularity. Errors are highest when considering
hourly values in wintertime, especially in the morning or late afternoon
Analysis of the Impact of the COVID-19 Pandemic on Tourism Demand in the Republic of Serbia – Challenges and Opportunities
Get PDFThe COVID-19 influenced crisis represents an unprecedented event to which all sectors of
the economy are exposed to a greater or lesser extent. The sectors most affected were those whose
business performance was determined by interpersonal interactions (face-to-face) and those directly
exposed to government restrictions. Extensive measures of social distancing and travel restrictions have
had a devastating impact on the tourism industry, which is estimated to be one of the most vulnerable,
vital sectors globally. The ongoing epidemiological situation has radically transformed the existing
patterns of supply and demand for tourist services. Consequently, the focus of crisis marketing strategies
aimed at recovering the sector is the promotion of tourism in the national context, priority is given to
safety and security, while the tone of marketing messages is adapted to the “new normal” with more
emphasis on solidarity and empathy. The high share of the tourism sector in global GDP and
multimillion loss of jobs in the tourism industry worldwide indicate the continuing demand for new
solutions and sectoral recovery strategies, both on local and regional and global levels. Considering the
actuality and relevance of the studied issues, the subject of this paper is the analysis of tourism demand
in the Republic of Serbia in the period of 2019 M1 - 2021 M8. The paper aims to provide a deeper insight into the fundamental transformational impacts and changes in the structure of demand for tourist
services in the Republic of Serbia caused by the outbreak and declaration of a global pandemic. As
expected, the research results indicate a change in the structure of demand in favor of domestic tourists
and, consequently, an increase in demand for mountain and spa facilities. In addition, the research
identifies the need and potential for the introduction of innovations in the Serbian tourism sector while
at the same time strengthening the digital competencies of employees and visitors. Finally, the paper
confirms that the COVID-19 pandemic represents a turning point in the development of the tourism
industry, opening the possibility of redefining priorities and respecting the principles of sustainable
development through the environmental and socio-economic dimensions
A Profile of Youth Not in Employment, Education or Training (NEET) in Serbia
Get PDFYouth face difficulties when entering the labour market. Of
particular concern are those who are not employed and are not in
education and training (NEET), as they are characterized by low
motivation/self-confidence as well as insufficient interest in social events
and inadequate skills to find gainful employment. In the Republic of
Serbia, NEET rate has decreased in the last five years, but is still roughly
20%, high compared to their EU counterparts (Eurostat, 2019). Due to
research into Serbian NEET youth being relatively rare, this paper seeks
to establish characteristics of Serbian NEET youth and how they
successfully return to education or gain employment. The aim of this
paper is to compare NEET unemployed, inactive in the labour market
and not in education with youth who are employed to identify what
social differences may increase the likelihood of being NEET and the
risks associated with transitioning into the labour market
Non-price determinants of demand for tobacco products in SEE countries
Get PDFTobacco consumption imposes significant economic and health
burdens on society. Tobacco control measures encompass price and non-price
measures aimed to discourage consumption of tobacco products and reduce
negative health outcomes. Although price measures, in the form of specifically
designed tobacco tax policy, proved to be the most effective single tobacco
control instrument, their effectiveness is maximized only if they are coupled with
non-price measures (smoke-free air laws, marketing bans, education about
harmful effects of tobacco, cessation support, etc.). This paper provides a
theoretical and empirical rationale for applying the non-price measures in
selected SEE countries – Albania, Bosnia and Herzegovina, Montenegro, North
Macedonia, and Serbia. The performed analysis focuses not only on the current
state in the application of the non-price measures at the regional level but on
differences among the observed countries. Research results confirm gradual but
slow progress in applying non-price measures of tobacco control in observed
countries. There is a huge space for policy improvements in the area. Full
implementation of the non-price measures, as outlined in the WHO MPOWER
package, would result in lower tobacco consumption, while bringing significant
health and economic benefits
Multiple Job-Holding and Informality: May Pandemic Change Their Course?
Get PDFMultiple job-holding was extensively studied during the 1990s. It was shown that this
practice has many similarities with informality, and even more, most job offers on a
second-job market operate in the informal sector. First studies show the incidence of
multiple job-holding in Serbia ranges from 30 percent in the second half of the 1990s
to above 10 percent at the end of the 2000s. However, most recent data show that the
practice of having more than one job in Serbia had an increasing trend up to 2019,
while in 2020, it stood at a level of 7.7 percent of the total employment. This chapter
employs the logit models to estimate the propensity of multiple job-holding in both the
formal and informal sectors. Although, the results refer to the period before the
pandemic, they still reflect the situation with the supply of second jobs in Serbia. The
informal sector most likely offers low-paid complementary jobs, whereas the formal
sector attracts those who belong to high-skilled occupational groups. An analysis of
recent data would probably show that in addition to helping improve the material status
of those holding multiple jobs, the number of high-paid secondary jobs is also emerging
in growing industries. As multiple job-holding increases with the growth of total
employment, it may be expected that the pandemic has impacted reducing the scope of
this practice in the Serbian labor market
Sustainable Economic Development and Digital Progress of EU Countries
No full textGlobal economic trends are shifting steadily in the direction of digital and sustainable economy, so countries throughout the world strive to achieve sustainable development along with digital change. Like the rest of the world, the EU economies face significant challenges related to new technologies, digital and sustainable economic development. The relationship between digitalization and sustainable development has been the subject of recent research. This paper’s objective is to demonstrate the success of the European Union in digitalization and sustainable economic development. The paper uses regression to analyze the link between the DESI index and the variables of sustainable economic development in the EU countries for the period 2016–2020. The results show that all the variables are positive and statistically significant at the 1% level, except adjusted net savings (ANS) which is insignificant. Additionally, the DESI index will rise by 0.794%, 0.264%, and 9.602% respectively if income per capita, renewable energy, and urbanization grow by 1%. The variables of sustainable economic development have influence on digital performance of the EU economies
Intellectual Capital and Bank Profitability: Evidence from Serbia
Get PDFResearch Question:This paper examines how investing in Intellectual Capital (IC) influences bank profitability measuredby return on average assets and return on average equity. Motivation: IC is a source of non-physical (added) value forinnovative companies in the knowledge-based economy. In finance and banking, efficient use of IC is critical since a bank'scapacity to supply high-quality services is based on its investment in IC. As a result, our goal was to throw light on thecomponents of IC and examine how they relate to the commercial bank's financial performance in Serbia.Idea: The mainidea behind this paper is to assess the relationship between components of IC and bank profitability. We used the threemost common components: Human Capital Efficiency (HCE), Capital Employed Efficiency (CEE), and Structural CapitalEfficiency (SCE), as well as control variables such as banks' size and leverage. Data: We used a Bankscope data set thatincluded 27 Serbian commercial banks from 2011 to 2019, with 212 observations. Tools: We used Breusch–PaganLagrange multiplier and the Pesaran test to examine cross-section dependence. Based on the test results, we used thesystem generalized method of moments (GMM) to assess the relationship between IC components and bank profitability.Findings: In Serbian banking industry, both HCE and CEE considerably impact bank profitability. However, we couldn't findevidence that SCE contributes to bank profitability. Contribution: This paper adds to the existing literature on therelationship between IC and bank profitability. However, it also includes a policy recommendation for bank executives aswe discovered that investing in IC can positively influence bank profitability
Gaps and Needs Analysis of Research Infrastructures in the Western Balkan Region
Get PDFThis paper aims to identify the current state and development of research infrastructures in the
Western Balkan region in order to increase the general understanding of the Western Balkan's current
research capabilities to conduct state of the art research projects
. Considering that global research
infrastructures are becoming increasingly complex and expensive, participation in large pan
-European
research infrastructures is considered as important condition to improve national research capabilities and
to foster research mobility. When it comes to the participation in pan
-European research infrastructures,
WB economies are lagging significantly behind EU member states, participating only in a few top research
infrastructures. To successfully integrate into the European Research Area, Western Balkan economies need
to invest more efforts in recognising research infrastructures as strategically important for future economic
development