1955 research outputs found
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Advancing Sustainable Development in Central and Eastern Europe: The Interplay of Environment, Energy, and Economy
No full textRenewable energy is of central importance for global sustainable development. While the interaction between conventional energy sources and pollutant emissions in developing countries has already been extensively researched, there is still considerable research potential regarding the impact of electricity generated from renewable sources on development. The Central and Eastern European (CEE) countries are characterized by a strong dependence on energy-intensive industrial processes, for which they have to ensure a stable and cost-effective energy supply. The future of a cost-efficient energy supply depends on the integration of renewables into the energy mix. The main objective of this paper is to investigate and quantify the complex relationship between CO2 emissions and electricity generated from renewables in 15 CEE countries from 1995 to 2021. Therefore, the model used in this paper establishes a comprehensive relationship between CO2 emissions and renewable electricity generation, considering other relevant variables such as final electricity consumption growth, GDP per capita growth, inflation rate, human development index, and trade openness. The empirical model was then estimated using various panel methods tailored to the specific data characteristics in order to obtain precise and consistent results. These methods include Fixed Effects, Generalized Least Squares, Panel-Corrected Standard Errors, Arellano Bond, and System Generalized Method of Moments. The results support the relationship between CO2 emissions growth rates and electricity generated from renewables. The results show that a 1 percentage point increase in electricity generated from renewables growth reduces CO2 emissions in CEE countries in a range of 0.07 to 0.11 percentage points. The model also shows that a 1 percentage point increase in growth of final electricity consumption accelerates growth of CO2 emissions by approximately 0.51 percentage points. Furthermore, a 1 percentage point increase in GDP per capita growth corresponds to a significant increase in growth of CO2 emissions, ranging from 0.48 to 0.73 percentage points. In addition, a 1 percentage point increase in the inflation rate is associated with a small but statistically significant increase in CO2 emissions of about 0.0002 percentage points. The human development index and trade openness are not statistically significant. The research results underline the positive impact of increasing renewable electricity generation on green development in CEE countries, which is crucial for reducing carbon emissions in the region. Despite the potential for increased use of renewable energy in CEE economies, they face technical, economic, and social challenges in generating electricity from renewables. Therefore, public policies need to incentivize investment in renewable energy projects. The implementation of appropriate policy measures and institutional frameworks, such as public–private partnerships and fiscal incentives, is crucial to promote greater use and production of renewable energy in these countries and to drive the modernization of the power sector
Determinants of CO₂ emissions in Central and Eastern Europe: An Empirical Panel Data Analysis
No full textThis paper investigates the impact of GDP growth, regulatory quality, electricity
consumption, human development, and research and development (R&D) expenditures on
carbon dioxide emissions (CO2) in 15 Central and Eastern European (CEE) countries over the
period 2002–2020. A three-step empirical strategy is employed, beginning with the
specification of a panel data model, followed by diagnostic testing of model residuals, and
concluding with the application of multiple panel estimators to ensure robustness of the results.
The findings reveal that, with the exception of the Human Development Index (HDI), all other
variables show statistically significant associations with CO₂ emissions. In particular, real GDP
per capita growth has a strong and consistent positive effect: a one-percentage-point increase
in GDP per capita is associated with a rise in CO₂ emissions per capita by approximately 0.3 to
0.35 tons. These results underscore the environmental cost of economic expansion in the region
and highlight the critical role of regulatory quality and R&D in designing effective mitigation
strategies. The paper contributes to the literature by providing a comprehensive, data-driven
assessment of emission determinants in emerging European economies and offers valuable
insights for policymakers aiming to align economic growth with environmental sustainability
Employment Policy Measures to Improve the Economic Opportunities of Women in Serbia
No full textThe aim of the paper is to analyze the performance of women in the Serbian labor market. The research topic is gaining importance as Serbia is in a mature phase of implementing its strategic framework for employment policy. This paper applies an approach that focuses on analyzing the impact of labor market policies aimed at improving the economic position of women. It analyses labor market statistics, as well as relevant policy docu-ments, previous studies and research findings that show how women are progressing on the scale of measurable indicators of gender equality and whether they are ready to take advantage of economic opportunities in the face of demographic challenges. While women still lag behind men, their labor force participation and employment rates show relative and absolute improvement. The differences in the basic labor market indicators in the population category with tertiary education have narrowed since 2023. The pay gap persists and has been closing slowly, despite the regulations and efforts to help women in the labor market through active measures. The main findings for Serbia are compared with other relevant research findings to derive conclusions based on a comparative analysis supported by recommendations
Međunarodna konferencija "Rudarenje između nasleđa i budućnosti: ekonomske, društvene i ekološke perspektive Institut ekonomskih nauka, Beograd, 13-14. novembar 2025": Knjiga apstrakata
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Business Leadership in the Adoption of Eco-Innovation in Manufacturing: Evidence from Firm-Level Microdata
No full textWith growing global concern about climate change, manufacturing, especially in emerging markets, faces
increasing pressure to adopt sustainable practices. A key response is eco-innovation, involving cleaner technologies,
greener production methods, and business models with reduced environmental impact. This research examines the role
of business leadership in the adoption of eco-innovation in manufacturing. The analysis relies on microdata from the
2023 Community Innovation Survey conducted by the Statistical Office of Serbia, covering the period 2020–2022.
Descriptive statistics and one-way ANOVA are employed to examine differences across sub-sectors, firm size, and
technology intensity, as well as the influence of factors such as regulations, incentives, market demand, costs, and
reputational considerations. The results show that business leadership plays a key role in driving eco-innovation,
particularly when motivated by reputational benefits and cost pressures. In contrast, firm size and technological intensity
have no significant effect, while differences across manufacturing sub-sectors are more pronounced. Firms are driven
by energy and material costs, regulatory compliance, and reputational gains, whereas government incentives and green
public procurement have limited influence due to weak and inconsistent policies. These findings highlight the strategic
importance of leadership-driven decision-making in eco-innovation adoption, informing both business practice and
policy design for the green transition in emerging economies
Artificial Intelligence in Serbian Enterprises: Adoption Levels, Obstacles and Sectoral Applications
No full textThis paper examines the adoption of artificial intelligence (AI) among Serbian enterprises, with a focus on adoption levels, obstacles, and sectoral applications. Based on a survey of 499 companies conducted in 2025, the findings show that only 29.1% of firms use AI technologies, with adoption marginally higher in manufacturing (31.1%) than in services (29.2%), although the difference is not statistically significant. The main barrier to adoption is the perception that AI is not useful or relevant for business operations, reported by 66.9% of non-adopters, followed by concerns about legal uncertainty, lack of knowledge, and high costs. Among adopters, the most frequent applications are data analysis and interpretation, customer support, and personalization in marketing. Sectoral differences are evident: services focus on customer support, while manufacturing emphasizes personalization and product development. The results suggest that informational barriers and limited internal capacities outweigh purely technological constraints, highlighting the need for targeted policy measures to foster AI adoption
Exploring and Predicting the Nonlinear Dynamics of Islamic Fixed-Income Securities by Generalized Chaos Analysis and Wavelet Neural Networks
No full textSectoral Efficiency and Resilience: A Multifaceted Analysis of S&P Global BMI Indices Under Global Crises
No full textThis study investigates the complexity, efficiency, and sectoral interdependen-cies of the S&P Global BMI indices during critical global events, including the COVID-19 pandemic and the Russia–Ukraine war. The analysis is conducted in three dimensions:(1) evaluating market efficiency using permutation entropy and the Fisher information measure, (2) exploring sectoral alignments through clustering techniques (hierarchical and k-means clustering), and (3) assessing the influence of geopolitical risk using Multifrac-tal Detrended Cross-Correlation Analysis (MFDCCA). The results highlight significant variations in informational efficiency across sectors, with Utilities and Consumer Staples exhibiting high efficiency, while Emerging Markets and Financials reflect lower efficiency levels. Temporal analysis reveals widespread efficiency declines during the pandemic, followed by mixed recovery patterns during the Ukraine conflict. Clustering analysis uncovers dynamic shifts in sectoral relationships, emphasizing the resilience of defensive sectors and the unique behavior of Developed BMI throughout crises. MFDCCA further demonstrates the multifractality in cross-correlations with geopolitical risk, with Consumer Staples and Energy showing stable persistence and Information Technology exhibiting sensitive complexity. These findings emphasize the adaptive nature of global markets in response to systemic and geopolitical shocks, offering insights for risk management and investment strategies
Attraction of Digital Nomads as Significant Tourism Potential: Evidence From Serbia
No full textDue to the many benefits this can bring, attracting digital nomads has become a challenge for many destinations in recent years. Accordingly, the aim of this paper is to identify the key factors that guide digital nomads when choosing a specific destination for their stay and to analyze the current position of the Serbia in the world of nomadic tourism. Serbia has exceptional potential for the development of nomadic tourism, but it has not been effectively utilized due to the lack of a strategic approach to attracting this market segment. In this context, the paper examines the potential, but also the limitations for a more intensive arrival of digital nomads in Serbia and offers certain solutions in the form of recommendations to overcome them. The results can serve as a basis for the development of strategies, programs and other mechanisms with which it is possible to attract the attention of digital nomads and improve the visibility of Serbia on the map of nomadic tourism