Suchergebnisse

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 end of the "cold war" brought about the emergence of geopolitics which has not been to such an extent burdened with the former international geopolitical views. One of the most significant shifts has been the recognition that geopolitical events cannot be limited to national states and their borders. Of course, states are still central for the world's geopolitical map, but no longer as the sole factors in the global geopolitical system. On the one hand and under the influence of globalization, new conditions have arisen, influenced by geopolitical factors; on the other, new entities are emerging whose influence is very similar to that of the central factors - contemporary states. These similarities are primarily reflected in the claims of sovereign control over a certain territory, the organization of government on it, the shaping of a particular national identity by the majority population, and so on. It is these new territorial and political units that contribute to the deconstruction of the geopolitical order; the disintegration of the Soviet Union is the best illustration. (SOI : PM: S. 88)

Mixed government, which is commonly regarded as a distinctly medieval form of government, is relevant also to contemporary constitutional states. It is the best form of government, since the aristocratic element is a continuous source of virtue, especially of justice, and a check not only on the executive, as the monarchical element which is the seat of political power, and the legislature, as the democratic element which expresses the will of the majority, but also groups and institutions that have the might and will to impose themselves as oligarchies. Mixed government is also the form of government that is practised by most developed contemporary constitutional states: USA, UK, France, Switzerland, Germany etc. European nobility is the original aristocratic institution, by virtue of the fact that it was a system for the transfer of both virtue and general conditions of life. Three institutions that emerged in the late Middle Ages assumed structures and functions of the nobility. + The first is the clergy. When, as a result of the differentiation of feudal society ethical and intellectual virtues of the nobility could no longer maintain general conditions of life, the clergy, by virtue of their abstract knowledge that ranged from philosophy and theology to law and medicine, became a class of new experts in generalities and thereby a new aristocracy. The second modern aristocratic institution is the judiciary, which has a structure and function similar to earlier aristocracies. The task of judges is to establish the highest virtue o constitutionalism. It is justice by law, which regulates general conditions of life in the state and society. What qualifies judges for the task is expertise in the new generality. The expertise includes not only education and experience in law but also impeccable private life and demonstrated professional ethics. + The third modern aristocratic institution is the profession, whose most important instance is the legal profession. It shares its structure and function partly with the judiciary and partly with other professions. It seems that modern professions are degenerating. In the key area of data processing, due to rapid changes of technology, professions as systems of the transfer of virtue do not even seem to be possible. Professional aristocracies are replaced increasingly by oligarchies of capitalists and technocrats. (SOI : PM: S. 111)

This paper show why the standardization of administrative procedure is important for the state legal system that, in the last two decades, the administrative procedure codes were adopted in almost all of the European states. Afterwards author analyzed main driving forces for development of administrative procedural law at the level of the European Union and the Council of Europe. The most important legal sources of European administrative procedural law (basic standards, principles, recommendations and guidelines in this area) are concisely presented but it is clearly indicated that there are certain ambiguities, that these sources don't apply equally to all institutions of the Union, and that they still don't make finished, complete and forever given system that can be automatically transferred to jurisprudence of the member states and candidate countries. Moreover, often administrative process laws of the member states contain rules that are not existing in this kind of regulation at European Union level and that is why the process of adopting the first European Union general law on administrative procedure was initiated, which would further improve the standards of European administrative process in general. When it comes to the general administrative procedure of the Republic of Serbia it has been shown that in spite of the strategic orientation towards the reform of the Law on Administrative Procedure expressed in numerous strategies, our executive authorities in this area have not yet moved beyond the development of the third version of the Draft Law on General administrative Procedure which was afterward adopted by the Government as the Bill. In his final remarks the author concludes stating that the largest number of European standards of administrative process are included in the final version of the Draft, but without eliminating the shortcomings of the existing Law, and without normative adjusting to the circumstances in which the Serbian administration operates, and with unnecessary abandonment of some solutions that have proved to be right in the decades-long practice of administrative authorities.

When in 2007, after the rejection of the Constitution for Europe in France and the Netherlands, European politicians defined their mandate to work on the Reform Treaty, they explicitly promised that 'the constitutional concept is . abandoned' and that 'the Treaty of European Union and Treaty on Functioning of the Union will not have a constitutional character.' In its Maastricht and Lisbon decisions, the German Federal Constitutional Court concluded that the European Union did not have a constitution since it did not have demos. The main purpose of this article is to prove the opposite. Accepting Weiler's argumentation that the EU is a political messianic venture par excellence, the author claims that, in addition to pursuing messianic goals, Europe's political elite has for a long time been streaming to root Political Messianism into democracy and position the EU in the global world. The main vehicle to transform the Community/Union from an international to a constitutional legal order has been constitutionalism. Starting from the French revolutionary Declaration, which declared civil rights and in Article 16 proclaimed 'a society in which the observance of the law is not assured, nor the separation of powers defined, has no constitution at all,' the author has showed that the Union has an antirevolutionary, uncodified and evolutive constitution, whose elements are to be found in the Lisbon Treaty and its related documents, the jurisprudence of the European Court of Justice, and to some extent in the constitutional orders of the Member States. The European constitution does not mirror a national constitution in the sense that it is attributable to the people, nor it is a revolutionary product aimed at limiting the government in the name of individual freedom. It is a rule of law-oriented type of constitution, born in the process of constitutionalization and aimed at submitting public power to law on the Union level. From the perspective of modern constitutionalism, the quality of this constitution is a matter of concern, since it has managed to connect the rule of law with the protection of human rights, but has failed to do the same with regard to democracy. Despite some efforts to entrench the democratic principle in the Lisbon Treaty, the present crisis in the Union is to a great extent the result of this failure. The fact that democratic defects at the Union level appear less visible when pitted against the state of affairs in national constitutional systems cannot mitigate this failure. Yet, assuming that the EU will survive the present crisis and having in mind that the Union is 'work in progress', the issue which still remains open is whether the future efforts to eliminate the defects of the European Constitution should be tied to traditional ways of thinking about democratic accountability within nation states, or one should stop thinking in terms of a Westphalian nation-state, and accept that transnational systems can provide a cure for democratic failings in ways that differ from traditional postulates of democracy.

In recent years, the violation of the principles that guarantee the respect of democratic norms and institutions has placed Serbia into the category of deficient democracies, and more recently in hybrid regimes. Since the beginning of the transition, the implementation of political and economic reforms in Serbia has been characterized by frequent shifts of periods with modest progress in the field of political and economic transformation with periods of stagnation and even backsliding in regards to the important reform segments. The indicators of political and economic reforms point to the strengthening of extractive institutions. Extractive institutions protect the economic and political interests of privileged groups to the detriment of the rest of society. This leaves fewer resources available to stimulate economic growth and job creation, with negative countereffects on the regime legitimacy and trust, which are crucial for the implementation of economic reforms. Serbia's failure to provide stronger economic growth is largely caused by extractive institutions that determine the business environment. The development of extractive institutions is indicated by the absence of a more even distribution of political power, weaknesses in the mechanisms of checks and balances, deficiencies in the sphere of the rule of law, widespread corruption, problems in the sphere of protection of property rights. The transitional developments in Serbia can be regarded as a historical heritage that adapts to the current social environment and has a great impact on institutional performance and democratic consolidation. Prolonged exposure to extractive institutions creates a cumulative effect of institutional learning, where individuals become vulnerable to political abuse, dependent on the state and unwilling to use political mechanisms of government accountability, contributing to a vicious circle of extractive political and economic institutions. Identifying the mechanisms of such accumulation, which include prolonged exposure to extractive institutions, as well as the transmission of cultural patterns from older generations who have long experience with extractive institutions, is a complex research task.