Suchergebnisse

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.

In the essence, the problem of eco-economic (economic and environmental) development is reduced to the problem of choosing concrete protection mechanisms and measurement heights achieved economic, and environmental, social and institutional (sustainable) development. This opens up the question of measuring the economic problems, but also each other prosperity of society, because they set goals, benchmarks and parameters to be taken into account are different, depending on what needs to be done measuring the degree of development. This mechanism of measuring economic development, set 30-s of the 20 th century, more and more often is criticized modern economists such as Joseph Stiglitz, who report that in the modern global business development of the country should be measured by a broader set of indicators. For these reasons, the European Commission in cooperation with the European Parliament, the OECD, the Club of Rome and the World Wide Fund (WWF), in 2007. organized International Conference - Beyond GDP Conference. In this sense, in addition to GDP, significant measures have been introduced for economic development and other indicators of well-known as an Enlarged GDP. The aim of this paper is to present the fundamental differences between GDP and GDP Enlarged indicators in calculation methodology that takes into consideration and certain other elements apart from consumption, investment and export levels. .

The subject of this dissertation is the mutual relationship between institutions and economic growth and development. The analysis focuses especially on this relationship during the privatization process in Serbia, as well as the influence of institutional quality on the process of privatization. Accordingly, the theoretical framework of this thesis represents institutional economics, which as a theoretical concept, points out the role and importance of institutions for economic growth and development of each country. The institutions create the "rules of the game", that represent the normative framework of given economy, as well as the mechanisms that affect its efficiency. According to this theoretical concept, economic analysis can not be reduced to an examination of the market and market relations, but must also include the institutions that regulate the market and allow its efficient functioning. The dissertation first discusses the theoretical bases of institutional economics and provide the basic elements of its genesis (old institutionalism and new institutional economics). On this basis, the basic concepts of institutional economics are defined and their methodological meaning for the purposes of the analysis are determined in this dissertation. That is why it is specifically discussed the role of rules and contracts and property rights and transaction costs, particularly in terms of economic efficiency. Using the above basic concepts of institutional economics is analyzed and the fundamental question of this dissertation - the influence of institutional quality on the privatization process and its effects in Serbia, and consequently its economic growth and development. Different outcome of institutional reforms and attitude towards them is in transition countries resulted in different levels of their economic development and to a large extent determined by the character of the economic system and the quality of its institutions. Uneven development in these countries is due to the different institutional capacities, conditioned by the political and economic determinants. Developed countries in transition had the better of the institution, which has allowed them to implement the overall reform faster and more efficiently. On the other hand, the less developed countries find themselves in front of urgent institutional reforms that did not have adequate economic base, resulting in the potential for economic growth was much slower. There were no adequate and quality institutions. Determine what kind of economic and institutional environment did the process of privatization in Serbia is an important element of this dissertation. ; Predmet istraživanja ovog rada je međusobni odnos institucija i privrednog rasta i razvoja. Analiza se posebno fokusira na ovaj odnos tokom procesa privatizacije u Srbiji, kao i na uticaj kvaliteta institucija na sam proces privatizacije. U skladu sa tim, teorijski okvir ove disertacije predstavlja institucionalna ekonomija, koja kao teorijski koncept, u prvi plan ističe ulogu i značaj institucija za privredni rast i razvoj svake zemlje. Institucije kreiraju "pravila igre", odnosno predstavljaju normativni okvir date ekonomije, kao i mehanizme koji utiču na njenu efikasnost. Prema ovom teorijskom konceptu, ekonomska analiza se ne može svesti samo na ispitivanje tržišta i tržišnih odnosa, već mora obuhvatiti i institucije koje uređuju tržište i omogućavaju njegovo efikasno funkcionisanje. U radu se najprije razmatraju teorijske osnove institucionalne ekonomije i daju osnovni elementi njene geneze (stari institucionalizam i nova institucionalna ekonomija). Na toj osnovi se definišu osnovni pojmovi institucionalne ekonomije i određuje njihov metodološki smisao za potrebe analize koja se vrši u ovom radu. Tako se posebno razmatra uloga pravila i ugovora, te svojinska prava i transakcioni troškovi, prvenstveno sa aspekta ekonomske efikasnosti. Primjenom navedenih osnovnih pojmova institucionalne ekonomije analizira se i osnovno pitanje ovog rada – uticaj kvaliteta institucija na proces privatizacije i njegove efekte u Srbiji, a posledično i na njen privredni rast i razvoj. Različit ishod institucionalnih reformi i odnos prema njima je u zemljama u tranziciji rezultirao različitim nivoom njihovog ekonomskog razvoja i u značajnoj mjeri je odredio karakter ekonomskog sistema i kvalitet njegovih institucija. Nejednak razvoj u tim zemljama je posledica različitih institucionalnih kapaciteta, uslovljenih političkim i ekonomskim determinantama. Razvijenije zemlje u tranziciji su imale i kvalitetnije institucije, što im je omogućilo da sveukupne reforme sprovedu brže i efikasnije. Sa druge strane, manje razvijenije zemlje su se našle pred neodložnim institucionalnim reformama za koje nisu imale odgovarajuću ekonomsku podlogu, usled čega je njihov ekonomski razvoj bio znatno sporiji. Nisu postojale adekvatne i kvalitetne institucije. Utvrditi u kakvom ekonomskom i institucionalnom okruženju je tekao proces privatizacije u Srbiji predstavlja važan element ovog rada.

The main objective of this paper is to determine the level of relevance of the economic development and the level of pollution of thirteen states that joined the European Union (EU) in the last three enlargement rounds (2004, 2007, and 2013), with the length of transitional periods, i.e. the number of regulations that have agreed transitional periods. The initial assumption is that the level of economic development of countries joining the EU and the level of pollution are affecting the length of transitional periods and the number of regulations that are agreed upon transitional periods. Accordingly, the paper points to the level of economic development (measured by GDP) and the level of pollution (emissions measured by CO2/pc and CO2/gdp). All the states are grouped into five regional groups (Mediterranean, Central Europe, the Baltics, South-East Europe and the member states of the former Yugoslavia) . Separate part of the paper analyzes in detail the types of regulations relating to the agreed transitional periods, and the number and length of transitional periods that are contracted by the states of the five groups. For the analysis we used the transitional periods in the field of energy, environment and transport, given their potential importance for CO2 emissions. The final part of the paper analyses perceived relevance between the level of economic development, levels of pollution, the length of transitional periods and the number of regulations that are agreed upon transitional periods.

This article presents results of the research in contemporary trends of international economic inequality. The author argues that international economic inequality is a bidirectional and complex concept. The bidirectionality and complexity of the concept is reflected in the fact that there are countries that concurrently converge to or diverge from the most developed countries in terms of their economic development. The key finding presented here is the rise of economic inequality between countries, especially between the poorest and the richest countries. The exceptions are some countries that have made significant progress in the period from 2000 to 2014 in reducing the economic inequality in comparison to the richest countries. The most important factors that have contributed to their progress are distinctive economic institutions and development policies of those countries, as well as the effects of the financial crisis since 2007-2008, which caused a decade-long stagnation in the most developed parts of the world. ; Rad je posvećen istraživanju savremenih trendova međunarodne ekonomske nejednakosti. Namera autora u ovom radu jeste da ukaže da je međunarodna ekonomska nejednakost dvosmeran i složen koncept. Dvosmernost i složenost tog koncepta se ogleda u činjenici da istovremeno postoje zemlje koje se u pogledu razvoja udaljavaju ili približavaju najrazvijenijim državama. Ključni zaključak rada jeste da ekonomska nejednakost između država raste, posebno između najsiromašnijih i najbogatijih država. Izuzetak su pojedine zemlje koje su u periodu od 2000. do 2014. godine učinile značajan iskorak u smanjenju ekonomske nejednakosti u usporedbi sa najbogatijim državama. Najvažnije faktore koji su doprineli tom napretku čine osobene ekonomske institucije i razvojne politike tih država, kao i finansijske krize i višedecenijska stagnacija u najrazvijenijim delovima sveta.

Regional differences are one of the most important forms of expression of uneven economic development. The unevenness of the level of development in the regions in the Republic of Serbia is one of the most complex development problems. The current economic policy has caused that the gap between rich and poor regions is increasing in Serbia. Different demographic development of the regions is consequences of differences of economic development. In this paper, the authors analyze the quantitative and qualitative population's characteristics. Attention is given to the implementation of VIKOR methods in order to rank the regions of Serbia according to the level of demographic development. Ranking regions by multiple criteria simultaneously, contributes to the determination of the real situation in terms of regional differences. The authors demonstrate that the multi-criteria analysis could be applied to determine the demographic disparities between the levels of development of the regions. The criteria and their importance could be changed depending on the consideration of demographic, economic and social development. Also, other methods of multi-criteria analysis in the evaluation of the demographic development of the region or state is applied.

The paper offers a critical analysis of the strategic framework for long-term economic development of Serbia, of the role of strategic development in the success of the transition process, and the consequences of the lack of a development strategy. The strategy of long-term economic development of Serbia, as a programe intended to designate the economic and development policy of the state, is analysed with the aim of finding an acceptable formulation of development strategy. The authors consider various approaches and propose a strategy for Serbia in the period of transition towards market economy. They also point out that, in the period of transition from a government-planned towards a market economy, strategy should be given greater importance in period that do not represent turning points, because of the greater possibility of incorrect policy making, potential conflicts of interest groups, reaching sustainable development, and maximizing prosperity. The authors take into account the advantages and disadvantages of the radical and of the gradualist approach to transition and propose formulating a development strategy that would contain combined elements of plan and market mechanism. They believe that the process of transition lacks a clear development strategy, and that the quality of the existing development strategy of Serbia until 2010 is such it cannot be understood as a serious approach to the transition issue. The authors stress the consequences of underground transition without a development strategy, that include inappropriate dynamic and sequence of reforms< a lack of coordination between development policy, macroeconomic policy, market reforms, and spatial planning policy< higher costs of transition, insufficient rate of economic growth, etc. They offer proposals for a comprehensive development framework (CDF) and for strategic planning of territorial industrial development. ; Urednici: Nada Milašin, Nenad Spasić, Miodrag Vujošević, Mila Pucar ; Ev.br.projekta 1383 "'Planiranje i upravljanje razvojem u uslovima prelaska na tržišnu privredu privredu- institucionalno prilagođavanje praksi i standardima EU", Ekonomski fakultet Univerziteta u Beogradu i Institut za arhitekturu i urbanizam Srbije, 2002-2005. ; Posebna izdanja 44

More than one decade Serbia has been passing through the process of market reforms. Establishing of market economy institution had to allow the country one stabile economic development in the light of EU accession. That is, by the way, the same strategy of the most countries of Western Balkan. Actual economic crisis showed the other side of the result of previous changes, and of the realized growth and development. That were the consequences on macro economic and financial instability and structure of the economy. Many circumstances showed that in the Serbian real and normative economic system there were numerous controversies stopping or slowing EU accession and basic re forms process. European economic system is based on institutions. In spite of many bureaucratic obstacles of this system institutions are the main guarantee of the system surviving. The institutions in Serbia were not established in desirable way. The government, the parliament and courts are continually in conflicts, based on formalization of institutions. Regulatory bodies are very week and under pressure of parties power control, as well as corruption and institution formalizing. All those facts have negative influence on the process of EU accession and market reforms. Serbia need to accept lawful state and institution strengthening in order to catch a connection for advanced economies in reform. Most important conditions are not only better laws, but better education. .

Sustainable development is a developmental concept that takes into account the economic, the environmental, and the social dimension of development. The modem approach to the concept of sustainable development implies acknowledgement of new dimensions or pillars of development. The subject of this paper is the institutional dimension as the fourth dimension of sustainable development. The path to sustainable development requires interconnectedness, harmonization, and coordination of different dimensions of development. Institutionally, new principles or concepts are necessary to improve the functioning of the various institutions and actors involved in the process of achieving the goals of sustainable development. The aim of this paper is to indicate that economic, ecological, and social development based on sustainability requires institutional support as a complementary and necessary dimension.

The financial sector is characterised by numerous changes that affect the changes in the institutional structure of functioning of the financial system, as well as the choice of funding of business entities. This has resulted in the fact that in contemporary business conditions, financing of economic development become a complex area of research. Local development planning on the basis of public revenues is a weak base for the rapid development of local governments. Therefore, it is necessary to supplement the budget financing by attracting private capital for the construction of public goods and improving the quality of public services. In this regard, the objective of this paper is to point to alternative ways of borrowing, both from domestic and international sources of funding, as well as to the possibilities for their use by the local governments. Bearing in mind the defined objective, the paper discusses the possible external sources of funding of local governments, such as loans from commercial banks and other financial institutions, and municipal bonds. In order to evaluate the possibilities for successful development of local governments, the paper points to the possible solutions to financing projects of public importance in the practice of Serbia.

The author studies the specific features of formation of cluster structures, which allow to identify economic and social preconditions for the emergence and development of cluster relations. The development of any cluster formation should be viewed as the process of interaction between opposite sides and trends arising from the intrinsic characteristics of these opposites. The author considers that cluster relations should be viewed as a system of relations on the formation and use of all types of resources aimed at the implementation of the expanded reproduction with the purpose of receiving profits systematically. Under present conditions the development of cluster relations occurs with participation of actors of economic ensuring of cluster formations' activity. On the basis of a systematic approach the author identifies and structures internal and external economic and financial conditions and factors of cluster relations. Cluster development theory is complemented by justification of key features and economic elements of cluster relations. The justification of the economic essence of cluster relations is provided. ; The author studies the specific features of formation of cluster structures, which allow to identify economic and social preconditions for the emergence and development of cluster relations. The development of any cluster formation should be viewed as the process of interaction between opposite sides and trends arising from the intrinsic characteristics of these opposites. The author considers that cluster relations should be viewed as a system of relations on the formation and use of all types of resources aimed at the implementation of the expanded reproduction with the purpose of receiving profits systematically. Under present conditions the development of cluster relations occurs with participation of actors of economic ensuring of cluster formations' activity. On the basis of a systematic approach the author identifies and structures internal and external economic and financial conditions and factors of cluster relations. Cluster development theory is complemented by justification of key features and economic elements of cluster relations. The justification of the economic essence of cluster relations is provided.