Institute of Economic Sciences

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    1955 research outputs found

    From online platforms to on-ground actions: synergies of digital and analog civic engagement in non-inclusive New Belgrade’s urban transformations

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    This research examines the institutional and spatial changes in New Belgrade's blocks and waterfront development, focusing on the roles of civil society and local communities in these processes. It highlights non-transparent redevelopment plans and persistent community opposition. By combining document analysis, internet content analysis, and qualitative methods, the study underscores the importance of social media and online platforms in fostering social cohesion, interaction, and engagement. The Sava Quay is one of 25 urban units that, due to its architectural, urban, and technical-technological signifi cance, holds great importance in the history of modern architecture in Serbia. However, it is not formally protected by the state and has suffered signifi cant degradation due to neglect and illegal development. The new redevelopment plans, promising economic growth and progress, are being developed through opaque and non-inclusive processes. As a result, these plans have faced sustained resistance from local communities. These communities have organized numerous participatory actions to protect their spaces and advocate for more transparent and inclusive institutional and spatial redesign processes. The primary aim of this research is to gain a deeper understanding of these participatory processes, addressing questions about how, where, and under what conditions collective practices and actions occur. It also examines the roles of social media and online platforms in fostering social cohesion and encouraging community participation. In addition to document analysis and data obtained through interviews and focus group discussions, the research relies on online content from the social network profi les of citizen groups that initiated, organized, and implemented signifi cant participatory activities. Their websites and social media profi les have been, and remain, vital tools for community information dissemination and participant mobilization, serving as key sources of documentary material. This study sheds light on the complex power dynamics within specifi c socio-spatial transformations, emphasizing the need for transparent, inclusive, just and accountable planning and governance practices

    Decrypting the triad of climate policies, macroeconomic interdependencies and quantitative modelling: A literature review on quantifying climate risks

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    This structured keyword-based meta-analysis reviews the estimation of climate risk factors and their economic impact in the recent literature between 2009 and 2025. Via examining existing research we are able to extract core statements, critical success and risk factors, considered data sets, implemented quantitative methods, and core empirical results. This allows us to identify current state-of-the-art topics and methodologies. Furthermore, we identify three major interrelated pillars, namely, policy-level considerations, macroeconomic effect chains paired with market-level dynamics, and quantitative modelling methodologies. According to the analysed research articles, a comprehensive understanding of at least two of these pillars is essential for effectively identifying, controlling, and modelling climate risk. This, in turn, helps to develop political strategies for mitigating climate change, which is displayed as a comprehensive triad model that can serve as a didactical basis for policy-decision making

    Transformative innovation policy for the green transition : policy pathways for systemic change

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    The Drivers of Business Process Innovation in Serbian Entrepreneurial Firms

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    This study aims to investigate the types o f business process innovations promoted by Serbian entrepreneurial enterprises and to identify the factors that drive such innovations. The final sample includes 172 active entrepreneurial enterprises established in 2015. Statistical analysis included descriptive statistics, principal component analysis, correlation and multiple regression analysis. From two different perspectives, Serbian entrepreneurial businesses introduced a variety of business process innovations: those related to product or service development and those related to the production of goods or services. The quality o f interaction within the entrepreneurial team and the organizational culture are the most important factors driving business process innovations in the production of products and services. In the area o f business process innovation in product or service development, the primary triggers are owner persistence and organizational culture. To date, there are no studies addressing the drivers o f business process innovation in Serbia. Understanding the specific factors that foster diverse forms of innovation can improve the effectiveness of innovation management in entrepreneurial firms, facilitate future innovation, and improve firm performance

    Economic Factors as a Driving Force for Foreign Direct Investment in Serbia

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    This paper aims to examine the influence of economic factors on the inflow of foreign direct investment in Serbia. The study included 88 foreign investors who invested their capital in Serbia in the period from 2001 to 2019. The methodology is based on a quantitative approach using a survey technique based on a structured questionnaire. The results of this research show that the cost of doing business is the most important factor in the economic environment for foreign investors in Serbia

    Climate Responsive Green Building Strategies in Circular Cities: A Comparative Study for Two Regions

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    This paper provides a comparative analysis of green building strategies in circular cities from an architectural perspective. It focuses on Belgrade, Serbia, which has a temperate continental climate, and Podgorica, Montenegro, with a mild subtropical climate. The data were gathered through an online questionnaire disseminated among 140 architects in both cities. A five-point Likert scale was applied, and the data were analyzed using the Statistical Package for the Social Sciences (SPSS, version 23). Descriptive statistics, factor analysis, reliability testing, and group comparison methods were employed to ensure a valid, reliable, and transparent framework for processing and interpreting the research of data. By analyzing locally available materials, technologies, and climate factors, the research found that the adoption of circular economy principles does not significantly differ between the cities. This suggests that economic and policy-related factors may have a greater influence than initially expected. Additionally, there was no significant difference in the integration of greening strategies integration (p = 0.08), challenging the assumption that climate-responsive design would lead to distinct variations in urban form. However, locally available materials and technologies had a stronger impact on green building practices in Serbia (p = 0.01). The study highlights that sustainable architecture is shaped by a combination of local resources, regulatory frameworks, and socio-economic conditions rather than climate factors alone. These insights contribute to the theoretical advancement of climate-smart green building strategies in circular cities. They provide valuable guidance for practitioners and policymakers. Future research should further explore the interplay of socio-economic and regulatory influences to refine strategies for climate-responsive and circular architecture

    Greenfield investments in the Western Balkans: a catalyst for economic growth and development

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    Greenfield investments are an important form of foreign direct investment (FDI) as they contribute to economic growth and development through the creation of new businesses, job creation and technology transfer. Over the last twenty years, Western Balkan countries have actively sought to attract foreign investors through various policy measures and incentives. Based on secondary data from official UNCTAD reports, this paper analyzes the characteristics and dynamics of FDI inflows to the Western Balkans and their impact on economic growth and development, with a special emphasis on new greenfield investments in the period 2015–2023. The results of the study show that the Republic of Serbia is the most attractive investment destination in the region and attracts the largest share of FDI. The Western Balkan countries can further improve their competitiveness in attracting these investments by reforming the institutional framework, improving the regulatory environment and implementing more efficient incentive measures. This analysis is particularly important for policy makers, investors and other economic actors seeking to improve the investment climate. It highlights the need for strategic reforms to maximize the impact of greenfield investments on the long-term and sustainable economic growth of the Western Balkans

    Multiscale Nonlinearity in Energy Commodities and Bond Markets: MFDCCA via MODWT and Granger Causality

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    In this study, we examine the multifractal characteristics and nonlinear interactions between the major energy commodities (crude oil, natural gas, heating oil) and the traditional and green bond markets. Using multifractal detrended cross-correlation analysis (MFDCCA) in conjunction with the maximum overlap discrete wavelet transform (MODWT) and nonlinear Granger causality tests, we discover complex dynamics and potential causality within these markets. The results of the study show strong multifractal cross-correlations between green bonds and traditional bonds with energy commodities. Green bonds are found to have a more pronounced multifractal nature compared to traditional bonds, suggesting different market dynamics in response to energy commodity price changes. This strategy advances the understanding of market movements and provides insights for risk mitigation and formulating investment plans. Our findings offer novel insights for investors, policymakers, and academics, highlighting the intricate relationships that exist between energy commodities and financial markets, with implications for portfolio diversification, risk management, and sustainable finance strategies

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