This paper defines the participants in the international foreign exchange market and the influence of natural, political, and economic factors on the movement of the exchange rate, and analysis of circumstances that may contribute to the change of the exchange rate. The paper aims to present the analysis of the exchange rate through macroeconomic phenomena and define the factors influencing the change in the exchange rate and the impact on the work of participants in that process. As risk management measures can prevent the influence of significant factors defined in the paper, measures, and types of risk exposure are determined.
Rad je podstaknut trgovinskim ratom SAD i Kine i, kao jedna od posledica tog rata, urušavanjem multilateralnog trgovinskog sistema otelotvorenog u Svetskoj trgovinskoj organizaciji (STO). Opšta hipoteza je da je trgovinski rat prisilio STO da započne reformu. Posebne hipoteze su: 1. da se trgovinski rat SAD sa Kinom rasplamsao zbog neadekvatnosti STO da reši trgovinske tenzije 2. da je Trampova administracija svojim potezima dovela do blokiranja rada Apelacionog tela; 3. da je blokada Apelacionog tela, uz već prisutni zastoj Doha runde, iznudila zvanične predloge za reformom ove organizacije. Cilj rada je da se, primenom kritičko-analitičkog metoda, ispitaju trgovinski potezi SAD, analiziraju mere, dokumenti i statistički podaci i utvrdi uzročno-posledična veza trgovinskog rata i početka reforme STO. Rad započinje sa merama Trampove administracije u okviru politike "Amerika prvo", zatim ukazuje na slabosti u radu STO, a potom na porast carina, protekcionizma i paralizu rada STO, i na kraju je analiza predloga tri države za reformu STO. U radu se došlo do zaključka da je trgovinski rat, osim svojih razarajućih posledica po stabilnost i predvidljivost trgovanja, doveo i do konačnog suočavanja sa problemima funkcionisanja STO i do početka procesa reformi.
Accession to the World Trade Organization (WTO), among other things, can be viewed as one of Serbia's foreign policy goals. Observed in this way, the successful completion of the accession process will bring easier market access to the all WTO member countries, but also fulfills one of the key conditions in the negotiations for Serbia's accession to the European Union (Chapter 30). Serbia is an import-dependent country and therefore has a high foreign trade deficit. Our country trades mostly with those countries with which has been signed some kind of trade agreement (EU, CEFTA, Russia, Turkey). That indicates that its entry into the WTO would be beneficial and would facilitate the establishment of trade flows with new partners. Accession would also be useful for an export-oriented model of economic growth. The World Trade Organization is the only global international organization dealing with trade rules between countries. The WTO is the result of multiannual international negotiations aimed at liberalizing international trade. Multilateral negotiations under the WTO umbrella offer the potential to maintain long-term growth, stimulate trade and investment and sustainable economic development. Serbia with its capacities, as a small country, is not in a position to independently create, develop and maintain economic relations with many countries in the world. Therefore, the WTO membership will enable domestic companies and businessmen to export under much more favorable conditions to countries with which Serbia has not yet concluded trade agreements. Serbia started accession to the WTO in 2005 but has not yet completed this process. Taking into account the results of Serbia so far in this process, as well as defining the remaining open issues and problems, we point to the many obstacles our country has encountered, but also on the ways in which the goal can be successfully achieved.
For many years now Serbia is persistent in its attempt to become a full member of the World Trade Organization. Countries that are not yet members represent a tiny minority of the total world trade, and Serbia is one of them. Membership in the WTO is de facto requirement for accession to the European Union. This paper explains how far Serbia traveled in her way to this international organization, whose agreements are governing the global rules of trade between nations. Special attention was paid to the question why it is important that Serbia joins this organization, and what can be concluded from the accession experiences of countries in the region. The authors of this study will try to explain the importance of the WTO accession, and the manner in which membership in this organization will affect Serbia?s existing foreign trade relations.
The subject of the paper is the reform of the tax system and its impact on the business of taxpayers. The authors conducted an analysis to determine whether tax policy reform measures boost employment, stimulate the population to start their own businesses, and reduce the informal economy by reducing the amount and number of state and local levies. The research was done in the Republic of Serbia by the survey method. Statistical testing of the collected data was done with a software program developed for the purposes of this research in the SPSS software package. The data were processed by the statistical method of analysis of variance ANOVA and the Levene?s test on the homogeneity of variance was performed. In order to draw reliable conclusions, the research also includes official data on changes in value added tax and income tax, as well as changes in Pension and Disability Insurance Contributions, for the taxpayers of the Republic of Serbia, in the total amount and by its components. The hypothesis ?Reform measures of tax policy stimulate the population to start their own business and legal business, which leads to a decrease in unemployment and an increase in the budget? has been confirmed on the basis of this research. It can be concluded that tax policy reform measures stimulate the population to start a private business and legal business, which leads to a decrease in unemployment and to an increase in the budget. The existence of a fairly large volume of tax evasion produce consequences that can be serious for the economy of the Republic Serbia. Reform measures have significantly reduced tax evasion as well as contributed to the reduction of undeclared work and the increase of funds in the budget. Survey respondents confirmed that the stimulative tax policy strengthens private sector, and thereby reduce the gray economy and increase the funds in the budget. The full effect of the reform measures is expected after the complete transition of taxpayersto e-business, which would provide a complete insight into the state and opportunities of the public sector. We can conclude that incentives from the state in the form of tax exemptions and contributions for newly employed workers have given significant results in terms of starting enterprise and hiring new workers. Activities to detect and combat tax evasion and reform the tax system can only be effective if they are planned and based on scientific researches and advances.
This paper analyses confrontation that occurred between Armenia and Azerbaijan concerning Nagorno Karabakh territory, as well as the many attempts to finally get this conflict resolved. The war between Armenia and Azerbaijan over the territory of Nagorno Karabakh ended with the ceasefire agreement under the auspices of the OSCE Minsk Group, which is empowered for final resolvment of this issue. This process has been going on for years, but a solution is yet to come. The European Union in recent years is trying to reduce dependence on Russian natural gas and orients to new suppliers, primarily in the southern Caucasus region. Western countries are interested in resolving conflicts in South Caucasus due to its economic and political interests in the region and the fact that these conflicts pose a risk to investment. The authors of the paper will bring forth the views of all stakeholders in addressing the problem of Nagorno Karabakh and analyze their interests in an attempt to predict the possible final solution to the conflict.
