Suchergebnisse

This paper points to the real and logical need for academic studying of the positive law discipline of (European) Monetary law at Law Faculties in Serbia. This branch of law is necessary for the optimal legal regulation of monetary policy, state monetary conduct and preserving monetary stability as an important public good for every monetary jurisdiction in the world. The introduction of Jean Monnet Module for European Monetary Law at the Faculty of the Law, University of Niš, is a very important step in academic teaching and scientific research on the legal regulation of public monetary affairs. The authors conclude that lawyers must have specialist knowledge from this branch of law, considering the frequency of monetary disputes and implication of monetary stability on living standards of monetary habitats and their rights to have healthy and solid currency.

This paper points to the real and logical need for academic studying of the positive law discipline of (European) Monetary law at Law Faculties in Serbia. This branch of law is necessary for the optimal legal regulation of monetary policy, state monetary conduct and preserving monetary stability as an important public good for every monetary jurisdiction in the world. The introduction of Jean Monnet Module for European Monetary Law at the Faculty of the Law, University of Niš, is a very important step in academic teaching and scientific research on the legal regulation of public monetary affairs. The authors conclude that lawyers must have specialist knowledge from this branch of law, considering the frequency of monetary disputes and implication of monetary stability on living standards of monetary habitats and their rights to have healthy and solid currency. ; Predmet analize u radu jeste ukazivanje na stvarnu i logičku potrebu akademskog proučavanja pozitivne pravne discipline (Evropskog) monetarnog prava na pravnim fakultetima u Srbiji s obzirom na činjenicu da je ova grana prava neophodna za optimalno pravno uređenje monetarne politike, javno monetarno upravljanje i očuvanje monetarne stabilnosti kao važnog javnog dobra za svaku monetarnu jurisdikciju u svetu. Uvođenje Žan Mone modula za Evropsko monetarno pravo na Pravnom fakultetu Univerzieta u Nišu predstavlja vrlo važan korak u akademskom i naučnom pozicioniranju problematike monetarnog prava na silabusima osnovnih, master i doktorskih akademskih studija prava. Autori smatraju da pravnici moraju imati posebna znanja iz ove hibridne grane prava uzimajući u obzir učestalost monetarnih sporova i implikacije monetarne stabilnosti na životni standard monetarnih korisnika i njihova prava na zdravu i čvrstu valutu.

Renowned international organizations classify Serbia as a democracy. However, they usually assess the state of democracy on the basis of the narrow theoretical concept of electoral democracy, which easily creates a fallacy that the free elections represent not only a necessary but sufficient condition for democracy. The concept of liberal consolidated democracy, in addition to procedural aspects, implies stricter normative and analytical criteria, such as the rule of law and the mechanisms of vertical and horizontal accountability, which constitute institutional guarantees for the application of fundamental democratic principles. In the absence of these mechanisms, electoral democracies become defective. According to relevant research, Serbia is classified as a semi-consolidated (defective or flawed) democracy. Irregularities in election procedures, as well as the violation of elements that guarantee respect for democratic norms and institutions in recent years indicate a certain democratic "regression". Bearing this in mind, the paper examines the extent to which the rule of law represents support to the consolidation of democracy in Serbia and points out to the potential causes of the observed deficiencies in this area, which aggravate the consolidation of democracy.

Renowned international organizations classify Serbia as a democracy. However, they usually assess the state of democracy on the basis of the narrow theoretical concept of electoral democracy, which easily creates a fallacy that the free elections represent not only a necessary but sufficient condition for democracy. The concept of liberal consolidated democracy, in addition to procedural aspects, implies stricter normative and analytical criteria, such as the rule of law and the mechanisms of vertical and horizontal accountability, which constitute institutional guarantees for the application of fundamental democratic principles. In the absence of these mechanisms, electoral democracies become defective. According to relevant research, Serbia is classified as a semi-consolidated (defective or flawed) democracy. Irregularities in election procedures, as well as the violation of elements that guarantee respect for democratic norms and institutions in recent years indicate a certain democratic "regression". Bearing this in mind, the paper examines the extent to which the rule of law represents support to the consolidation of democracy in Serbia and points out to the potential causes of the observed deficiencies in this area, which aggravate the consolidation of democracy. ; Poznate međunarodne organizacije klasifikuju Srbiju kao demokratiju. Međutim, one ocenjuju stanje demokratije prema teorijskom konceptu izborne demokratije, što može da stvori zabludu da slobodni izbori predstavljaju ne samo neophodan, već i dovoljan uslov za demokratiju. Koncept liberalne konsolidovane demokratije, pored proceduralnih aspekata, podrazumeva ispunjavanje strožih normativnih i analitičkih kriterijuma, kao što su vladavina prava i mehanizmi vertikalne i horizontalne odgovornosti, koji predstavljaju institucionalne garancije za primenu osnovnih demokratskih principa. U nedostatku ovih mehanizama, izborne demokratije postaju manjkave. Prema relevantnim istraživanjima, Srbija je klasifikovana kao polukonsolidovana (defektna ili ...

Starting from the legal position of the National Bank of Serbia, the paper analyzes the objectives entrusted to this institution by domestic legislation. In line with the dominant monetary paradigm, the main goal of the central bank of Serbia is price stability. After the global financial crisis, financial stability is increasingly mentioned as the objective that central banks implement. This also applies to the central bank in Serbia (National Bank of Serbia), which has a clear mandate to take account of financial stability, in addition to monetary stability. Finally, as an important subject of economic policy, the National Bank of Serbia, by exercising the entrusted functions also affects the achievement of other economic policy objectives. It should be kept in mind that domestic legislation precisely determines the hierarchy of the objectives of the central bank, considering that it explicitly stipulates that the National Bank of Serbia primarily takes care of monetary and financial stability, and only then it provide support for general economic policy, provided that it does not jeopardize the exercise of the basic objectives.

Starting from the legal position of the National Bank of Serbia, the paper analyzes the objectives entrusted to this institution by domestic legislation. In line with the dominant monetary paradigm, the main goal of the central bank of Serbia is price stability. After the global financial crisis, financial stability is increasingly mentioned as the objective that central banks implement. This also applies to the central bank in Serbia (National Bank of Serbia), which has a clear mandate to take account of financial stability, in addition to monetary stability. Finally, as an important subject of economic policy, the National Bank of Serbia, by exercising the entrusted functions also affects the achievement of other economic policy objectives. It should be kept in mind that domestic legislation precisely determines the hierarchy of the objectives of the central bank, considering that it explicitly stipulates that the National Bank of Serbia primarily takes care of monetary and financial stability, and only then it provide support for general economic policy, provided that it does not jeopardize the exercise of the basic objectives. ; U radu se polazeći od pravnog položaja Narodne banke Srbije analiziraju ciljevi koje domaće zakonodavstvo poverava ovoj instituciji. U skladu sa dominantnom monetarnom paradigmom, osnovni cilj centralne banke Srbije je stabilnost cena. Nakon globalne finansijske krize, u domenu ciljeva, koje centralne banke realizuju, dolazi do promene u smislu da se kao cilj sve češće pominje finansijska stabilnost. To važi i za centralnu banku Srbije koja ima jasan mandat da, pored monetarne stabilnosti, vodi računa i o finansijskoj stabilnosti. Najzad, kao bitan subjekt ekonomske politike, Narodna banka Srbije obavljanjem poverenih funkcija utiče i na ostvarivanje ostalih ciljeva ekonomske politike. Ono što treba imati u vidu to je da domaće zakonodavstvo precizno određuje hijerarhiju ciljeva centralne banke, budući da se izričito propisuje da Narodna banka Srbije prvenstveno brine o monetarnoj i ...

Neoliberalism is subject to conflicting interpretations. Although often associated with the relation between state and market, neoliberalism is certainly beyond the scope of these relationships. It is a complex phenomenon composed of beliefs, practices and institutions. Neglecting any of these elements leads to a misunderstanding of the whole. One of the most complex issues facing those who deal with the issue of neoliberalism is to establish a connection between normative recommendations of neoliberal theory and political and economic changes in market economies. Elementary insights into economic changes over the last decades show that there is a certain correspondence between the neoliberal ideas and the trajectory of many capitalist economies, but also clear discrepancies. The goal of this paper is to investigate the analytical potential of the 'embeddedness' concept in the analysis of discrepancies between neoliberal theory and practice.

Trust in political institutions is very important for the stability of society and functioning of democracy, that is, for the legitimacy of democratic regime. The question of legitimacy is especially important for the consolidation of new democracies, such as Western Balkan countries. Since trust in political institutions determines citizens' willingness to comply with the decisions of these institutions, as well as governability of modern society, vicious circle could develop where low level of trust in political institutions impedes their efficient functioning, contributing to further decline of trust. Starting from the importance of trust in political institutions for the normal functioning of society, this paper explores the levels of trust in these institutions over time in Western Balkan countries, in order to establish whether existing levels of trust could represent an obstacle to governance and further consolidation of democracy.

European Economic and Monetary Union faces the most serious crisis since its foundation. The concept of the Union with a single monetary policy and autonomous fiscal policy, which is partially limited by the fiscal rules, as defined by the Maastricht Treaty (later confirmed by the Lisbon Treaty) and specified by the provisions of the Stability and Growth Pact, has proved to be totally inadequate to address the problems of fiscal discipline of the member states. In such circumstances, the need for institutional reform of the European Economic and Monetary Union has been imposed. Revised fiscal rules and regulations on the coordination of economic policies promote institutional base of EMU. The effectiveness and credibility of the new fiscal framework depends on its strict application, readiness of the Commission to monitor fiscal discipline of the member states and the willingness of other institution, firs of all Council to limit the degree of political discretion.