Suchergebnisse

For a long time now, social and political liberalism has been accepted as the desirable basis for societal organization. The economic theory has tried to adapt itself to this perspective and has developed sophisticated models to support the claim that individuals will self-organize into a socially desirable state. This position, however, has led to а view of the economic system that is divergent from the developments in other disciplines. While statistical physics, social psychology, and ecology have forged ahead with non-linear dynamics and complex interactions between individuals, economists have insisted on an analysis that is focused on "optimizing behavior of fully rational and well-informed individuals in a static context and equilibria that result from that optimization". This is a basic paradigm on which standard economic models and modern economic theory are built. Neoclassical economics is indeed a meta-theory that provides a framework in which many different approaches are possible. Ultimately, however, they all rest on the same assumptions of individualism, rationality, and equilibria. Besides, the constant appearance of economic crises shows that there are real problems with the analysis itself. While each crisis calls forth a new approach to economics, experience shows that inertia has ultimately prevailed among the scholars, and economics restores to the path that it was already following. Neoliberals removed the complexity from the real world and developed models that, by the method of comparative statics, allow for policy debate and policy choices. Without neglecting how far the economic thought has already brought us, the main point is that fundamental principles of rationality and general equilibrium do not precisely describe the reality. The new sciences of complexity can provide deeper understanding into the way groups of people behave when they (re)act together to shape the socio-economic system. This system is characterized by tipping points, non-linearities, asymmetrical relations, trade-offs, interlinkages and all other attributes of complex systems, making them difficult, if not impossible, to comply with the existing theory. But then again, do we need a generalized, coherent and simplified theoretical representation of the world? Not always! The policymakers would probably be better off if they adopt more eclectic and experimental approach driven by big data, artificial intelligence and machine learning. This paper provides an overview of the latest research on policy-making beyond neoliberalism.

Sustainable development is critical to ensure the future of humanity. Therefore, the assessment and governance of sustainability becomes a central challenge our society is facing. This paper provides a novel ICT framework for addressing sustainable development goals. It is characterized by both local and global considerations, in the context of economic, ecological, and social aspects of sustainable development. The framework consists of three modules: data module, sustainability module, and governance module. Data module integrates data from several sources, processes data, infers knowledge, and transforms data into understandable information and knowledge. The second module implements SDGs at the level of municipality/city, ensures ranking of locally transformed SDGs to arrange them in line with the values and needs of the local communities, and proposes an integrated approach in modeling the social-ecological systems. By implementing governance theories, the governance module permits an effective citizen engagement in governance of SDGs. The ICT framework addresses short-term and long-term SDGs and allows for the vertical and horizontal linkages among diverse stakeholders, as well as for their contributions to the nested rule structures employed at operational, collective, and constitutional levels. Thus, the framework we provide here ensures a paradigm shift in approaching SDGs for the advancement of our society.

The aim of this paper is to evaluate how well-prepared the Western Balkans (Albania, Macedonia, Montenegro and Serbia) are to join the EU in terms of competitiveness and to clearly identify the set of EU countries that would represent a 'real benchmark' when trying to assess the region's competitiveness. In 2010, the Europe 2020 strategy was proposed as a means of focusing the EU and its Member States on the main task of improving competitiveness and creating conditions for smart, sustainable and inclusive growth. As candidate countries for EU membership, Western Balkans are expected to act in accordance with these goals. Hence, this paper implements the Global Competitiveness Index 2015-2016 and a set of supplemental data analysis tools to assess both the level of competitiveness and the region's relative position vis-à-vis the EU member states. The results clearly show that the EU is far from a homogenous entity in terms of competitiveness, whilst the candidates expose a competitiveness profile similar to that of Central and Eastern Europe. Overall, the Western Balkans trail behind the EU-28 countries in building a knowledge-intensive economy and are significantly outdistanced in laying the foundations for 'smart growth', as the European economies press ahead. ; Cilj rada je ocijeniti koliko su zemlje Zapadnog Balkana (Albanija, Makedonija, Crna Gora i Srbija) dobro pripremljene za članstvo u EU u smislu konkurentnosti, te jasno identificirati skup zemalja EU-a koji bi predstavljao realni usporedni prag vrijednosti konkurentnosti regije. U 2010. godini, Strategija Europa 2020 predložena je kao sredstvo fokusiranja EU-a i njezinih država-članica na glavni zadatak poboljšanja konkurentnosti i stvaranja uvijeta za pametan, održiv i inkluzivan rast. Očekuje se da države Zapadnog Balkana kao kandidati za članstvo u EU djeluju u skladu s ovim ciljevima. Dakle, u radu se koristi Indeks globalne konkurentnosti (GCI) 2015-2016 i skup dodatnih alata za analizu podataka s ciljem procjenjivanja razine konkurentnosti, te relativne pozicije regije naspram zemаljа-članica EU-a. Rezultati jasno pokazuju da EU nije homogeni entitet u pogledu konkurentnosti, dok kandidati imaju profil konkurentnosti sličan zemljama Centralne i Istočne Europe. Općenito govoreći, zemlje Zapadnog Balkana zaostaju iza zemalja EU-28 u izgradnji gospodarstava zasnovanih na znanju, i značajno su distancirani u postavljanju temelja tzv. 'pametnog rasta', koncepta kojeg Europske ekonomije snažno zastupaju

Trade integration is an essential component of Macedonia's economic development and the role of the European Union (EU) in supporting such process is crucial, given the importance of the EU member states for the country's foreign trade. The EU has encouraged this deepening through an active trade policy, including the Stabilization and Association Agreement (SAA) that provides for the creation of a free trade area between the Union and Macedonia. The latter was granted candidate status for EU membership in 2005. The relative competitiveness will therefore play a key role in determining changes in trade patterns and flows between the country and the member states. There is no doubt that the candidate countries will not be able to exploit the benefits of integration unless they have products and companies to withstand the market competition. Hence, the external competitiveness per se has become a more salient issue than ever before, while improving competitiveness is important in terms of EU accession. This paper aims to discover whether Macedonia is in the process of extending the products in which it has trade potentials, as opposed to a situation in which the number of products that can be competitively exported is static. More specifically, it examines the sectoral specialization and competitiveness of the country, in relation to that of the EU/28, using four indices of revealed comparative advantage over the years 2000-2015. The statistical findings (mean and coefficient of variation) for the four indices indicate that comparative advantage are mainly achieved in primary products and few manufactures, which corresponds to the level of economic development, the availability of natural resources and the price of production factors (labour). In other words, change in the composition of exports remain slow, with limited progress towards higher value added products over the last few years.

The aim of this paper is to evaluate how well-prepared the Western Balkans (Albania, Macedonia, Montenegro and Serbia) are to join the EU in terms of competitiveness and to clearly identify the set of EU countries that would represent a 'real benchmark' when trying to assess the region's competitiveness. In 2010, the Europe 2020 strategy was proposed as a means of focusing the EU and its Member States on the main task of improving competitiveness and creating conditions for smart, sustainable and inclusive growth. As candidate countries for EU membership, Western Balkans are expected to act in accordance with these goals. Hence, this paper implements the Global Competitiveness Index 2015-2016 and a set of supplemental data analysis tools to assess both the level of competitiveness and the region's relative position vis-à-vis the EU member states. The results clearly show that the EU is far from a homogenous entity in terms of competitiveness, whilst the candidates expose a competitiveness profile similar to that of Central and Eastern Europe. Overall, the Western Balkans trail behind the EU-28 countries in building a knowledge-intensive economy and are significantly outdistanced in laying the foundations for 'smart growth', as the European economies press ahead.

Information and Communication Technologies (ICTs) have become more accessible, more powerful and more widespread. Yet, the use of ICTs is not an end in itself. The impact that such technologies have on the economy and society is what ultimately matters. Understanding the economics of ICTs requires a deep and thorough knowledge of how the new technology generates the economic impacts. The ICT revolution holds the transformative potentials, offering many promises and benefits, even while posing severe risks and challenges. Therefore, it is of great importance and still a challenge to measure the capacity of countries to leverage ICTs for increased competitiveness and wellbeing. Aimed at reaching such a complex task, this paper employs the extensive data compendium of the Networked Readiness Index (NRI) 2015 and a set of supplemental data analysis tools (descriptive statistics, five-number summary statistics and a Box & Whisker plot, Euclidean and statistical distances, hierarchical cluster analysis and a corresponding dendrogram) to estimate both the performance of Macedonia in the NRI and the country's relative position vis-à-vis the EU member states. Looking at the trends since 2012 reveals that Macedonia is one of the ten most improved countries in their overall NRI performance. Nevertheless, the findings suggest that the country is lagging behind the European average in most indicators. The EU member states with the shortest statistical distance from Macedonia are Croatia, Cyprus, Romania, Hungary and Slovenia. Quite the reverse, the Nordics (Finland, Sweden and Denmark) and Western Europe (Luxemburg, Netherlands and UK) are the most 'distant' countries from Macedonia. These latter findings confirm the results obtained by the five-number summary statistics and the hierarchical cluster analysis.

A certain country can increase production and welfare only if it produces in industries in which price is not the single factor explaining the competitive edge. This paper attempts to assess the qualitative competitiveness of Macedonia as a candidate country for European Union (EU) accession. EU remains a main trading partner of the country, making up around two-thirds of its foreign trade. Having a small economy implies that Macedonia has to rely mainly on export-led growth. As such, addressing external competitiveness has become a more prominent issue than ever before, while improving the competitiveness is quite important in terms of EU accession. We calculate unit values to signal the Macedonia's quality position, and then perform a country-specific segmentation of markets according to the revealed price elasticity concept (REVELAST 1). The findings suggest that Macedonia exhibits low export unit values due to the country's specialization mostly in industries at the lower end of the quality spectrum. The analysis of product groups indicates a certain weakening—inadequate position prevails both for the levels and the type of competitive performance. The rising number of product groups in the segment with structural problems is particularly worrisome, and specifically for sectors which are the most important for achieving competitiveness with dynamic potentials. The only way for Macedonia to establish an adequate structure of foreign trade and higher levels of competitiveness is to create an appropriate environment, so that some product groups of this segment move into the segments of successful quality—and/or price competition.

Information and Communication Technologies (ICTs) have become more accessible, more powerful and more widespread. Yet, the use of ICTs is not an end in itself. The impact that such technologies have on the economy and society is what ultimately matters. Understanding the economics of ICTs requires a deep and thorough knowledge of how the new technology generates the economic impacts. The ICT revolution holds the transformative potentials, offering many promises and benefits, even while posing severe risks and challenges. Therefore, it is of great importance and still a challenge to measure the capacity of countries to leverage ICTs for increased competitiveness and wellbeing. Aimed at reaching such a complex task, this paper employs the extensive data compendium of the Networked Readiness Index (NRI) 2015 and a set of supplemental data analysis tools (descriptive statistics, five-number summary statistics and a Box & Whisker plot, Euclidean and statistical distances, hierarchical cluster analysis and a corresponding dendrogram) to estimate both the performance of Macedonia in the NRI and the country's relative position vis-à-vis the EU member states. Looking at the trends since 2012 reveals that Macedonia is one of the ten most improved countries in their overall NRI performance. Nevertheless, the findings suggest that the country is lagging behind the European average in most indicators. The EU member states with the shortest statistical distance from Macedonia are Croatia, Cyprus, Romania, Hungary and Slovenia. Quite the reverse, the Nordics (Finland, Sweden and Denmark) and Western Europe (Luxemburg, Netherlands and UK) are the most 'distant' countries from Macedonia. These latter findings confirm the results obtained by the five-number summary statistics and the hierarchical cluster analysis.

The Payment Services Directive 2 (PSD2) will have a profound and direct impact on the European banking industry. It is also widely accepted as a regulation producing ripple effects both in the banking and other sectors in and beyond Europe. Extending the first Payment Services Directive, PSD2 is intended to strengthen the security of online transactions, promote a more efficient and integrated payments market, protect customers, provide a level playing field between different payment service providers, and resolve all security gaps and risks that were not previously addressed. PSD2 creates space for innovative financial services, and by developing and advancing openness in banking, it calls into question the traditional banking models and imposes important operational and technological amendments to banks, their vendors, collaborates and the entire banking ecosystem mechanisms and function. PSD2 principles are also important for regulating the new Account Information Services (AIS) and Payment Initiation Services (PIS) along with the Third Party Providers (TPPs) - AISPs and PISPs. By properly synthesizing and analyzing the financial information from different banks and institutions, the former act as aggregators for the various customers. The latter, on the other hand, look to arrange and administer the financial transactions of their customers. Given the above considerations, this paper aims at answering three main questions about the PSD2. At first, we will take an in-depth look at the concepts and principal goals of the European Directive. Secondly, we will examine the implications of the EU regulation on the (1) legislative measures in the area of financial services and (2) day-to-day operations of both the central bank and commercial banks, or any other entity that may also be affected. Finally, this paper may serve as a guideline for the queries and dilemmas that managers in North Macedonia have about the PSD2, and may also assist by providing certain instructions and recommendations in managing change during the implementation process.

Within the ancient paradigm with a new name - Circular Economy (CE), based on the 'principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems', food production and reduction of represent an inevitable pillar. The circular business models ought to be following the principles that: (1) waste no longer exists, (2) biological materials are renewable, however, technological are not - therefore should be recycled, (3) try to reuse the product as a whole, and if that is impossible, then parts of the products, or eventually recycle materials, (4) first repair, then reuse, then refurbish, then recycle and (5) make use of renewable energy. The EU produced 'Closing the loop – An EU action plan for the circular economy' and (among other) worked to develop a common EU methodology & stakeholders platform to measure food waste and define relevant indicators (addressed further more in the analysis and recommendations in this work); clarify EU legislation relating to waste, food and feed and facilitate food donation and the use of former foodstuff and by-products from the food chain in feed production without compromising food and feed safety; and examine ways to improve the use of date marking by actors in the food chain and its understanding by consumers, in particular the "best before" label complementary also to the Waste Framework Directive and Programmes. Finally, the European Union in the European Green Deal sees itself both as global leader and facilitator of a just transition - leaving no one behind, having one of its core elements From Farm to Fork Strategy, focusing on a fair, healthy and environmentally friendly food system. Our motivation is to inspire food banks mechanisms as societal necessity and ambition, and align them with food waste prevention on global, regional and local level, and not vice-versa, generating careless food waste that can be somewhat prevented by giving to the poor. The main subject of interest, that is food banks and food ...

For much of the past years, the EU has simultaneously pursued the incentive of deeper integration and enlargement, thus becoming a unique economic and political partnership between 28 European countries. Enlargement serves as an impetus for political and economic reforms that moves in steps which are largely determined by the candidate countries' respect for the Copenhagen criteria and their ability to take on the obligations of membership. Meeting the accession criteria entails considerable efforts in terms of public investment and access to knowledge and expertise. In the past, the EU has supported the candidates and potential candidates with technical and financial help through a number of separate instruments. Since 2007, the EU pre-accession funding has been guided through a single instrument, the Instrument for Pre-Accession Assistance (IPA). Important element of the IPA funds is the resource available for EU regional (cohesion) policy that stands for an important policy tool to preserve some of the EU keystones, viz. the single market and the common currency. That is to say, the last three IPA (2007- 2013) components have been intended to mirror closely structural, cohesion and rural development funds permitting the beneficiaries to prepare themselves for effective implementation of the EU cohesion policy after accession. Hence, this analytical paper aims at presenting a systematic overview of the EU regional (cohesion) policy, i.e. the rationale for such policy from a theoretical perspective, as well as its origins and historical patterns. With special reference to absorption capacity, the paper will subsequently assess the pre-accession support provided to Macedonia as a candidate country for EU membership.

Abstract: For much of the past years, the EU has simultaneously pursued the incentive of deeper integration and enlargement, thus becoming a unique economic and political partnership between 28 European countries. Enlargement serves as an impetus for political and economic reforms that moves in steps which are largely determined by the candidate countries' respect for the Copenhagen criteria and their ability to take on the obligations of membership. Meeting the accession criteria entails considerable efforts in terms of public investment and access to knowledge and expertise. In the past, the EU has supported the candidates and potential candidates with technical and financial help through a number of separate instruments. Since 2007, the EU pre-accession funding has been guided through a single instrument, the Instrument for Pre-Accession Assistance (IPA). Important element of the IPA funds is the resource available for EU regional (cohesion) policy that stands for an important policy tool to preserve some of the EU keystones, viz. the single market and the common currency. That is to say, the last three IPA (2007- 2013) components have been intended to mirror closely structural, cohesion and rural development funds permitting the beneficiaries to prepare themselves for effective implementation of the EU cohesion policy after accession. Hence, this analytical paper aims at presenting a systematic overview of the EU regional (cohesion) policy, i.e. the rationale for such policy from a theoretical perspective, as well as its origins and historical patterns. With special reference to absorption capacity, the paper will subsequently assess the pre-accession support provided to Macedonia as a candidate country for EU membership. Keywords: EU regional policy, pre-accession assistance, Macedonia