Institute of Economic Sciences

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    1955 research outputs found

    The Impact of Import, Export and FDI on the Economic Growth of the Western Balkans Countries

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    Macroeconomic stability is one of the important factors influencing the growth and development of national economies in today’s modern global economy. Economic policy should create conditions for macroeconomic stability and economic growth based on increased investment, exports, savings, productivity, and competitiveness, while reducing macroeconomic imbalances, especially the fiscal deficit, inflation, and the current account deficit. In order to achieve macroeconomic stability, as well as sustainable economic growth, it is important to pursue a rational economic policy and carry out accelerated structural reforms. The main objective of the paper is to analyze the impact of key indicators, i.e., export and import of goods and services and FDI on economic growth of the Western Balkans countries. Such an analysis is important to show the state of the economy and predict its stability. The research focuses on the countries of the Western Balkans, while the analysis uses secondary data from the UNCTAD database for the period 2011-2020. The research results indicate that Serbia is progressing much faster than other countries of the Western Balkans. In the coming period, a growth trend can be expected in all Western Balkan countries, which will result in better economic development and increasing openness to new investments

    Average Matching Levels for Two DigComp Competence Areas of the Female Entrepreneurs in Serbia

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    This paper aims to analyze the average level of matching the self-assessment and real-life scenario digital competences questions of Serbian female entrepreneurs using an online survey. The authors focused on the questions which belong to the first two areas of the Digital Competence Framework (DigComp). The online survey consisted of four general, and 71 self-assessment and life�scenario combined questions. The survey was distributed and used from the 5th February until the 5th March 2021. Results showed that the average matching levels of both areas were higher than 50% (medium). On the other side, according to the authors, they were not on a satisfactory level. The females' best performances in matching (above 80%) were in the "Browsing, searching, and filtering data, information and digital content" (segment of the first area) and "Interacting through digital technologies" (segment of the second area). Opposite, respondents' lowest matching level performances were in the "Managing data, information and digital content" (part of the first area) and "Sharing through digital technologies", and "Engaging in citizenship through digital technologies" (part of the second area). The results of the conducted research show that female entrepreneurs should pay more attention to required competences for organizing data in digital environments and on competences directed to digital society services

    Naftni tajkun Rada Pašić : institucionalizovana korupcija u Kraljevini Jugoslaviji na primeru razvoja naftne industrije

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    U radu će biti analiziran uticaj institucionalizovane korupcije u Kraljevini Jugoslaviji na razvoj naftne industrije u periodu između 1920. i 1940. godine. Analitički okvir baziran je na konceptu institucionalizovane korupcije kao centralizovane sistemske i planske aktivnosti, duboko ukorenjene u postojeće političke strukture u Kraljevini Jugoslaviji. Jedan od glavnih zaključaka je da, uprkos činjenici da je Kraljevina Jugoslavija nominalno bila zemlja tržišne ekonomije, kao i da su najveće svetske kompanije bile zainteresovane da investiraju u razvoj naftne industrije u zemlji, institucionalizovana korupcija bila je ključni faktor neuspeha ovih projekata i time svakako negativno uticala na ekonomski razvoj zemlje, koja do početka Drugog svetskog rata nije razvila sopstvenu naftnu industriju. Istovremeno, Rada Pašić nije postao pravi naftni tajkun, ali je posle gotovo dve decenije sudskih procesa u kojima je država neuspešno pokušavala da povrati koncesije za istražne radove, 1940/41. godine svoje parcele za milionski iznos prodao nemačkoj kompaniji „Geverkšaft Elverat Erdelverke“ iz Hanovera (Gewerks-chaft Elwerath Erdölwerke Hannover)

    Women’s Entrepreneurship in the Wake of the Covid19 Crisis: The Case of Serbia

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    The subject of this paper is the evaluation of the position of women entrepreneurs in Serbia in the aftermath of COVID19 outbreak. The research aims to shed light on the main threats and constraints which women entrepreneurs in Serbia are currently facing due to the global pandemic. We hypothesize that women entrepreneurs in Serbia are particularly affected by the negative effects of COVID19 health crisis. With that regard, the standard desk-research method - the analysis and comparison of secondary data was combined with the case study method that included ten in-depth interviews with selected women entrepreneurs in Serbia during the period January - February 2021. The main conclusions are that empowering women entrepreneurs through various support programs as well as financial assistance provided by the state should be in the focus of decision-makers in the years to come. Furthermore, women entrepreneurs in Serbia should consider regional networking as well as entering the new markets as alternative survival strategies

    Inequality-Reducing Effects of Tobacco Tax Increase: Accounting for Behavioral Response of Low-, Middle-, and High-Income Households in Serbia

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    While previous research has indicated that increasing tobacco excises is a crucial instrument for lowering tobacco demand, this policy has been criticized for its alleged regressive impact on the poor. However, this critique does not take into account the behavioral response, i.e., decrease in consumption that occurs after excises and prices increase. In this paper, we examine the effect of cigarettes’ price increase on tobacco consumption, household expenditures, and tax burdens in three income groups and provide empirical arguments on the regressivity/progressivity effects of tobacco tax increase. Estimated elasticities indicate that all groups decrease their cigarettes demand with increasing prices, with demand decrease stronger for low- than for middle- and high�income households. Results further suggest that increasing tobacco excises (1) decreases tobacco expenditure of low-income households, which increases their productive consumption, such as on food, clothes, etc., and (2) redistributes the tobacco tax burden from low- to high-income households. Therefore, excise increase policies do not have an adverse effect on the position of the low-income households; on the contrary, they lower their cigarettes expenditure and their tax burden, while lower cigarettes consumption has an additional, positive effect on their health, which attenuates future inequalities

    Multivariate Multifractal Detrending Moving Average Analysis of Air Pollutants

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    One of the most challenging endeavors of contemporary research is to describe and analyze the dynamic behavior of time series arising from real-world systems. To address the need for analyzing long-range correlations and multifractal properties of multivariate time series, we generalize the multifractal detrended moving average algorithm (MFDMA) to the multivariate case and propose a multivariate MFDMA algorithm (MV-MFDMA). The validity and performance of the proposed algorithm are tested by conducting numerical simulations on synthetic multivariate monofractal and multifractal time series. The MV-MFDMA algorithm is then utilized to analyze raw, seasonally adjusted, and remainder components of five air pollutant time series. Results from all three cases reveal multifractal properties with persistent long-range correlations

    Aktuelno stanje i perspektive razvoja globalnog i nacionalnog tržišta zelenih obveznica

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    Shodno krovnom konceptu održivog razvoja, zelena ekonomija i zelene finansije kao proizvodi harmonizovanog razvoja ekonomije, društva i principa zaštite životne sredine u 21. veku predstavljaju pokretačku snagu ekonomskog prosperiteta kako razvijenih, tako i zemalja u razvoju. Kroz osnaženo globalno tržište kapitala usmereno ka održivosti ističe se posvećenost društva brizi o šest ključnih ekoloških sistema: energiji, transportu, vodi, kontroli otpada i zaga�đenja, građevinarstvu i industriji, poljoprivredi i šumarstvu, a zelene obveznice kao poslednja „moda“ održivog, zelenog finansiranja izdvajaju se kao idealan instrument za ispunjenje većine željenih ekonomsko-ekoloških ciljeva. Upotrebom ovih vrednosnih papira obezbeđuje se ekonom�ska efikasnost koja je, pak, ustrojena na način da u potpunosti odgovara ekološkim, a samim tim i principima održivosti. U skladu sa time, cilj istraživanja je ocena trenutnog stepena razvijenosti globalnog i nacionalnog tržišta zelenih obveznica, i analiza uslova za „tržišnu eksploataciju“ ovih finansijskih instrumenata u budućnosti. Aktuelnost istraživanja potkrepljuje činjenica da se principi održivosti ubrzano počinju implementirati u sve sfere finansija, te da na svetskim finansijskim tržištima popularnost zelenih hartija od vrednosti, prvenstveno zelenih obveznica, tokom poslednjih nekoliko godina vrtoglavo raste. Deskriptivni i komparativni metod, induk�tivno-deduktivni metod, kao i analiza sadržaja literature referentnih autora u relevantnoj obla�sti korišćeni su za potrebe izrade rada. Rezultat istraživanja je potvrđen stav da se globalno trži�šte zelenih obveznica eksponencijalno razvija, da će takav trend biti nastavljen i u budućnosti, te da postoje kapaciteti, a samim tim i opravdano očekivanje da će Republika Srbija u bliskoj budućnosti pristupiti oformljavanju stabilnog tržišta pomenutih zelenih hartija od vrednosti

    Remote Working in Terms of Covid-19

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    A wide range of jobs in various industries can be done from home, including remote work. Namely, work from home, teleworking, remote office - it has several names, but no matter what you call it, it means working in an environment that is not the company's office, while ensuring that productivity does not suffer. It should be emphasized that the work must be done outside the employer's premises. The work is mostly done, but not necessarily in the house of the employee. Even companies that never thought a home-based business was possible had to make the change. Many CEOs and senior managers have changed their minds about remote working equally in a short time. They soon realized that their teams were just as productive from home as they were in the office outside, and some even more productive. Authors concluded that whether doing a job in a company or working for you, working from home can be a challenge whereas literature in this area can be extremely helpful

    Aviation maintenance technician scheduling with personnel satisfaction based on interactive multi-swarm bacterial foraging optimization

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    This study focuses on the challenges of aviation maintenance technician (AMT) scheduling and constructs a model based on personnel satisfaction and the parallel execution of aircraft maintenance tasks. To obtain the scheduling scheme from the constructed NP‐hard model, an interactive multi swarm bacterial foraging optimization (IMSBFO) algorithm is proposed using multi‐swarm coevolu tion, structural recombination, and three informa tion interactive mechanisms among individuals. Moreover, considering the distributed feature of the AMT scheduling problem, a specific mechanism is designed to convert continuous solution to a binary AMT scheduling scheme. Finally, a series of com parative experiments highlight the efficiency and superiority of our proposed IMSBFO algorithm, and the optimal scheduling scheme owns the delicate balance between the work and rest time

    Environmental Degradation and Economic Activites in OECD Countries

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    The relationship between environmental degradation and economic growth has been widely discussed. The aim of this paper is to explore the relationship between environmental pollution and economic activities in the OECD countries for the period 1996-2018. We applied environmental Kuznets curve model extended with foreign direct investment (FDI) and trade openness using panel technique to test the existence of environmental Kuznets curve (EKC) and pollution haven hypothesis (PHH). Our results support the presence of a EKC and confirm the PHH in OECD countries. Furthermore, the findings reveal that trade openness increase of 1% will decrease carbon emission by 0.31%, while FDI increase of 1% will raise carbon dioxide emission by 0.013%

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