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Nalazimo se u fazi globalizacije koja je posljedica ponovne pojave nekih prijašnjih problema ojačanih novim izazovima, za koje se zbog njihove dinamike i nestalnosti ne mogu naći sigurna održiva rješenja. Suvremenu globalnu ekonomiju obilježava sve brža digitalizacija koja omogućuje ostvarivanje brojnih prednosti i prilika, no također rezultira i širenjem jaza među zemljama jer nemaju sve zemlje jednake mogućnosti u iskorištavanju tehnologija. Cilj ovog rada je analizirati utjecaj globalizacije na dohodovnu nejednakost među zemljama. Budući da je upravo rastuća nejednakost jedan od najvećih globalnih izazova cilj je istražiti da li globalizacija putem različitih kanala utjecaja doprinosi jačanju konkurentnosti gospodarstva i posljedično, smanjenju nejednakosti među zemljama te koja su potencijalna rješenja za smanjenje nejednakosti.

SOCIAL INNOVATION AS AN IMPORTANT ELEMENT OF EUROPEAN DEVELOPMENT STRATEGIES EU member states are undergoing the process of economic and demographic transformation with significant influence on society and economy. In order to respond to the existing and future challenges, it is necessary to adapt development strategies and policies, as well as to focus on concepts such as innovation, social change, equality and sustainable development. In the new development strategy, EU will focus on creating a society that will function as a competitive, secure and energy-efficient system. Scientists, economic policy makers, nongovernmental organisations and entrepreneurs are showing an increasing interest in the field of social innovation, striving to address a series of contemporary challenges. The aim of this paper is to study the role and ways of fostering social innovations in the European Union. The contribution of this paper is reflected in the systematic review of the importance of social innovation and the measures used to foster them, while pointing out the existing obstacles and needs and recommendations for further development of social innovation in the context of global challenges that the EU is facing. The results of the research indicate the growing importance of social innovation in modern EU policies that actively promote the quintuple helix approach, recognizing sustainable development and innovation as key development priorities during the Fourth Industrial Revolution. Recommendations for further development of social innovation in the EU include the need to coordinate various EU instruments in this area, encourage investment in innovative education, training and employment programs in this area, increase awareness of social innovation, encourage networking and dissemination of information and create an enabling environment for their development. Also, the paper highlights the shortcomings in the field of measuring social innovation, as well as the need to address this challenge, in order to improve the understanding of their role, but also a more efficient allocation of incentives to them. Key words: social innovation, European Union, strategic framework, development strategies.

Cilj ovog rada jest analizirati na koji način inozemna izravna ulaganja mogu utjecati na održivi razvoj, posebice sa stajališta zaštite okoliša. Slijedom navedenoga, analizirani su struktura i tijekovi inozemnih izravnih ulaganja, zajedno s propisima o zaštiti okoliša i njihovim razvojem tijekom posljednjih nekoliko desetljeća u zemljama Europske unije (EU). Zaključak istraživanja upućuje na činjenicu da većina zemalja EU-a ima stroge ekološke zahtjeve koji mogu utjecati na ulaganja koja traže neku vrstu utočišta onečišćenja u tim zemljama. Međutim, iako postoje zajedničke politike EU-a, zemlje članice istodobno primjenjuju svoje nacionalne propise i poticaje. Različiti pristupi ulaganjima i politici održivog razvoja mogu imati implikacije na razinu usklađenosti i suradnje među zemljama u budućnosti. ; The aim of this paper is to analyze how foreign direct investment can impact sustainable development, particularly from an environmental standpoint. Pursuing that aim, the structure and flows of foreign direct investment are analyzed, along with environmental protection regulation and its evolution over the last few decades in European Union (EU) countries. The conclusion of the research is that most EU countries have strong environmental requirements that can influence investors seeking pollution havens in these countries. However, while common EU policies are in place, member countries also apply their own national regulations and incentives. Different approaches to investments and sustainable development policies may have implications for the level of harmonization and collaboration among EU countries in the future.

Food industry has a strategic role in the global economy and it greatly contributes to achieving the Sustainable Development Goals, but at the same time it causes significant ecological pollution and resource depletion. Maximizing the benefits and minimizing the costs of the food industry is therefore a challenging task. The subject of this paper are contemporary global trends and factors of competitiveness of the food industry. The purpose of the paper is to determine what contributes to the competitiveness of the food industry and to analyze recent global trends in the food industry in order to draw conclusions about the role and contribution of this industry to sustainable development and competitiveness. The analysis has shown that innovation in the production and processing of food and also diversification of the supply are key contributing factors. The main driver of innovation in the food industry are new consumer expectations and requirements. Consumers are increasingly concerned about their own ecological footprint, which increases the demand for those food products whose production has a minimal negative effect on the environment, and they often choose products of enterprises with socially responsible business practices.

European Union (EU) is fostering the quintuple helix approach as it recognizes sustainable development and innovation as important development priorities. The quintuple helix represents a new framework which includes new knowledge, more stakeholders with sustainable development at its center. The EU has put in place different policy measures, regulations and funds to support designing and implementation of innovation strategies and sustainable development in all Member States. The objective of this paper is twofold as it includes identifying key features of helix innovation model and its evolution over time, and exploring EU efforts to transform to the quintuple helix system. The purpose of this paper is to explain the new context of development where innovation and sustainability should be considered as key elements. Using the example of the European Union, this paper studies policies and measures that the EU has put in place in order to support innovations as well as inclusive, smart and sustainable development, which are significant parts of the quintuple helix approach.

European Union (EU) is fostering the quintuple helix approach as it recognizes sustainable development and innovation as important development priorities. The quintuple helix represents a new framework which includes new knowledge, more stakeholders with sustainable development at its center. The EU has put in place different policy measures, regulations and funds to support designing and implementation of innovation strategies and sustainable development in all Member States. The objective of this paper is twofold as it includes identifying key features of helix innovation model and its evolution over time, and exploring EU efforts to transform to the quintuple helix system. The purpose of this paper is to explain the new context of development where innovation and sustainability should be considered as key elements. Using the example of the European Union, this paper studies policies and measures that the EU has put in place in order to support innovations as well as inclusive, smart and sustainable development, which are significant parts of the quintuple helix approach. ; Europska unija (EU) aktivno promiče pristup peterostruke uzvojnice prepoznajući održivi razvoj i inovacije kao važne razvojne prioritete. Potreban je novi razvojni okvir koji bi uključivao nova znanja, više dionika i mjere za održivi razvoj. EU je donijela različite mjere i propise te uspostavila fondove za podršku dizajniranju i provedbi strategija poticanja inovacija i održivog razvoja u svim zemljama članicama. Cilj ovog rada je dvojak te uključuje identifikaciju ključnih značajki inovacijskog modela uzvojnica i njegov razvoj, te istraživanje napora EU za transformaciju prema peterostrukoj uzvojnici. Svrha ovog rada je objasniti novi kontekst razvoja u kojem inovativnost i održivost treba smatrati jednim od najvažnijih elemenata. Koristeći primjer Europske unije, ovaj rad proučava politike i mjere koje je EU poduzela kako bi podržala inovacije kao i inkluzivan, pametan i održiv razvoj, a koji su okosnica modela peterostruke uzvojnice.

Glavni cilj ovog istraživanja je analizirati trgovinske tijekove roba i usluga Slovenije s ostatkom svijeta od pridruživanja Europskoj uniji (EU) u svibnju 2004. godine. Empirijsko istraživanje provedeno je primjenom Grangerovog testa uzročnosti i Vektorskog modela korekcije pogrešaka (VECM) koristeći tromjesečne podatke od 2005. do 2017. godine. Primijenjeni Hansen i Seo (2002) test potvrdio je pretpostavku linearnosti između promatranih varijabli i prikladnost empirijskog pristupa u radu. Rezultati istraživanja ukazuju na dominaciju uvoza nad izvozom u trgovinskom obrascu slovenskog gospodarstva i pozitivnu trgovinsku bilancu s ostatkom svijeta od vremena njenog pristupanja Europskoj uniji.

Glavni cilj ovog istraživanja je analizirati trgovinske tijekove roba i usluga Slovenije s ostatkom svijeta od pridruživanja Europskoj uniji (EU) u svibnju 2004. godine. Empirijsko istraživanje provedeno je primjenom Grangerovog testa uzročnosti i Vektorskog modela korekcije pogrešaka (VECM) koristeći tromjesečne podatke od 2005. do 2017. godine. Primijenjeni Hansen i Seo (2002) test potvrdio je pretpostavku linearnosti između promatranih varijabli i prikladnost empirijskog pristupa u radu. Rezultati istraživanja ukazuju na dominaciju uvoza nad izvozom u trgovinskom obrascu slovenskog gospodarstva i pozitivnu trgovinsku bilancu s ostatkom svijeta od vremena njenog pristupanja Europskoj uniji. ; The main aim of this research is to examine Slovenian trade flows in goods and services with the rest of the world since joining the European Union (EU) in May 2004. We applied Granger causality test and Vector Error Correction Model (VECM) on quarterly data from the first quarter of 2005 up to the first quarter of 2017. Applied Hansen and Seo (2002) test confirmed the assumption of linearity in the relationship between the variables under consideration and therefore the appropriateness of the empirical approach for the purpose of this paper. The research results indicate importing to exporting as a dominant trade pattern in the Slovenian economy and successful trade balance with the rest of the world since Slovenia joined the EU.

During the 1990s Croatia went
through the process of transition to market economy mostly following the
Washington Consensus policy guidelines. Since the period before the last global
financial crisis, Croatia has shown almost no convergence to developed European
Union member states and has been among the least developed ones. This paper examines
the causes of Croatian development lag, while providing an overview of contemporary
development policies and international production fragmentation trends that
affected them. The paper points out to several important factors that shaped
the Croatian development path. Expectations from foreign capital were
overrated, as the foreign direct investment consisted mainly of brownfield
investment in large monopolistic companies and was rarely directed to
export-oriented sectors. Accession to the World Trade Organisation was followed
by stronger growth of imports than exports and joining the European Union did
not bring economic growth as fast as expected. Lack of industrial policy implementation
has led Croatia to deindustrialisation and increasing importance of the tourism
sector as a form of the Dutch disease.

During the 1990s Croatia went through the process of transition to market economy mostly following the Washington Consensus policy guidelines. Since the period before the last global financial crisis, Croatia has shown almost no convergence to developed European Union member states and has been among the least developed ones. This paper examines the causes of Croatian development lag, while providing an overview of contemporary development policies and international production fragmentation trends that affected them. The paper points out to several important factors that shaped the Croatian development path. Expectations from foreign capital were overrated, as the foreign direct investment consisted mainly of brownfield investment in large monopolistic companies and was rarely directed to export-oriented sectors. Accession to the World Trade Organisation was followed by stronger growth of imports than exports and joining the European Union did not bring economic growth as fast as expected. Lack of industrial policy implementation has led Croatia to deindustrialisation and increasing importance of the tourism sector as a form of the Dutch disease. ; Hrvatska je potkraj prošlog stoljeća prošla kroz proces tranzicije na tržišno gospodarstvo uglavnom slijedeći smjernice Washingtonskog konsenzusa. U razdoblju prije posljednje globalne financijske krize, Hrvatska nije pokazala gotovo nikakvu konvergenciju s razvijenim članicama Europske unije te je pripadala skupini najmanje razvijenih članica. Ovaj rad istražuje uzroke zaostajanja Hrvatske, pružajući istovremeno pregled suvremenih razvojnih politika i međunarodnih trendova fragmentacije proizvodnje koji su na njih utjecali. Rad ukazuje na nekoliko važnih čimbenika koji su oblikovali hrvatski razvojni put. Očekivanja od priljeva stranog kapitala bila su precijenjena, jer su se izravna inozemna ulaganja uglavnom sastojala od brownfield ulaganja u velika monopolistička poduzeća i rijetko su bila usmjerena na izvozno orijentirane sektore. Pristupanje Svjetskoj trgovinskoj organizaciji popraćen je snažnijim rastom uvoza od izvoza, a pridruživanje Europskoj uniji nije donijelo gospodarski rast onako brzo kako se očekivalo. Nedostatak implementacije industrijske politike doveo je Hrvatsku do deindustrijalizacije i sve veće važnosti turističkog sektora kao oblika nizozemske bolesti.

Background: Foreign direct investment (FDI) flows are unevenly distributed around the world and determined by different factors. The literature points out to economic and non-economic determinants of FDI flows, while the latter have shown to generate ambiguous effects across regions. Objectives: The primary goal of this paper is to examine the relationship between non-economic determinants and the FDI inflow in Croatia from 1996 to 2017, thus capturing different periods of the economic cycle. The importance of non-economic institutional determinants of FDI is analysed in parallel with the economic determinants. Methods/Approach: This study uses available data on FDI per capita and a set of non-economic (institutional) and economic determinants. We employed the OLS regression analysis to determine the significance of FDI inflow determinants and compare the relevance of non-economic to economic factors. Results: Results of this exploratory study show that institutional quality variables included in the model (regulatory quality, political stability, and government effectiveness, the rule of law and control of corruption) could not be pointed out as important determinants of the FDI inflow in Croatia. Economic variables GDP per capita and average gross wage prove to be important in determining the FDI inflow in Croatia. Conclusions: The research results point to a variety of FDI determinants among countries and economic cycle periods. Given the evidence from Croatia, variations, especially in institutional determinants, might be caused by the diverse FDI inflow characteristics and specificities of receiving economies.

The aim of this paper is to establish and clarify the relationship between corruption level and development among European Union countries. Out of the estimated model in this paper one can conclude that the level of corruption can explain capital abundance differences among European Union countries. Also, explanatory power of corruption is higher in explaining economic development than in explaining capital abundance, meaning stronger relationship between corruption level and economic development than between corruption level and capital abundance. There is no doubt that reducing corruption would be beneficial for all countries. Since corruption is a wrongdoing, the rule of law enforcement is of utmost importance. However, root causes of corruption, namely the institutional and social environment: recruiting civil servants on a merit basis, salaries in public sector competitive to the ones in private sector, the role of international institutions in the fight against corruption, and some other corruption characteristics are very important to analyze in order to find effective ways to fight corruption. Further research should go into this direction.