Suchergebnisse

Abstract
The competitiveness of the national economy, its sectors and companies is essential for economic growth and development in the conditions of the global market. This importance is especially expressed for small open economies, such as Bosnia and Herzegovina (B&H). Bosnia and Herzegovina must strengthen its export position in the most competitive sectors, so that it can develop under conditions of increasingly liberalized world trade, with growing competition. The aim of this paper is to investigate the sectora structure of B&H exports, the competitiveness, significance and performance of certain sectors, in order to identify weaknesses and possible ways o improvement. For the purposes of this analysis, the Trade Competitiveness Map analysis methodology was used to assess the competitiveness of the sector, using the Trade Performance Index (TPI). The main aim of the methodology is to determine sectoral export performance, in order to facilitate strategic market research and monitoring of national foreign trade performance. B&H has the poor export sector structure, with the low level o international competitiveness, reflected in the large share of resource intensive products and low-value processing products with low added value Improving competitiveness could be achieved by strengthening the most competitive sectors, as well as by changing the economic structure towards the development of technologically intensive and highly profitable sectors o the economy.

In times of globalization, there is a worldwide trend of creating various regional economic integrations which aim to benefit for their members. Almost all of the countries belong to or aspire to belong to a group. One of them is Bosnia and Herzegovina. As a member of CEFTA since 2006, Bosnia and Herzegovina has built its foreign trade position together with other members, with which it has had exceptionally immense level of cooperation. Bosnia and Herzegovina is committed to joining the European Union, but the accession process is facing a lot of difficulties and going slowly, so that the time of receiving full membership is completely uncertain. Croatian withdrawal from the zone of free trade for the sake of joining the European Union has had inevitably serious consequences for the rest of the countries, re?ected in decreasing the volume of mutual trade, stricter standards for export and di?erences in tari? and non-tari? barriers relative to those that existed during the membership in the same integration. At the same time, there is a change for the new member of the European Union, which improves its trade relations with foreign countries and confirms some theoretical standpoints on the e?ects of regional integration. Although mostly positive, these e?ects are not equally distributed to all members of the European Union. The aim of this study is to investigate the e?ects of the European Union enlargement on the foreign trade positions of new member states, as well as the countries which are in the accession process and have a significant exchange with the European Union. Trough the analysis of indicators of the member countries, a possible direction of foreign trade development of Bosnia and Herzegovina on its path towards full membership in the European Union is presented. ; ? ??????? ?????????????, ? ??????? ??????? ?????? ?? ???????? ?????????? ??????????? ?????????? ???????????, ???? ?? ??? ??????????? ??????? ?? ????? ???????. ?????? ??? ????? ????????? ??? ???? ?? ????????? ????? ?????????. ????? ?? ??? ?? ? ????? ? ???????????. ??? ??????? CEFTA-e ?? 2006. ??????, ????? ? ??????????? ?? ??????? ????? ???????????????? ???????? ??????? ?? ?????? ?????????, ?? ???? ?? ???? (? ??????) ???????? ???????. ????? ? ??????????? ?? ???????????? ?? ?????? ? ???????? ?????, ??? ?????? ?????????? ??? ?? ????? ??????? ? ?????, ???? ?? ?? ??????? ??????? ??????????? ???????? ??????? ??????????. ????????? ???????? ?? ???? ???????? ???????? ????? ?????? ? ???????? ?????, ?????????? ??????? ??????? ????????? ?? ????????? ?????, ???? ?? ???????? ? ???? ????? ????????? ????????, ???????? ??????????? ?? ????? ? ????????? ? ????????? ? ??????????? ?????????? ? ?????? ?? ??? ???? ?? ????????? ?? ??????? ???????? ? ????? ???????????. ??????????? ?????? ? ?? ???????? ?? ???? ??????? ???????? ?????, ???? ????????? ?????? ???????? ?? ????????????? ? ????????? ???? ????????? ?????????? ? ???????? ??????????? ???????????. ???? ???????? ?????????, ??? ?????? ???? ??????? ??????????? ?? ??? ??????? ???????? ?????. ??? ???? ???? ?? ?????????? ??????? ????????? ???????? ????? ?? ???????????????? ???????? ????? ???????, ??? ? ?????? ???? ?? ? ???????? ????????????, ? ????? ?????? ???????? ?? ??????. ???? ??????? ?????????? ?????? ??????? ?????????? ?? ?????? ??????? ??????? ?????? ???????? ????? ? ??????????? ?? ???? ?? ??????????? ???????? ? ????????? ?????.

Svjetska ekonomska kriza zahvatila je zemlje Zapadnog Balkana. Recesija koju je karakteriziralo smanjenje privredne aktivnosti, pad potrošnje i povećanje zaposlenosti bila je praćena smanjenjem javnih prihoda. Posljedica takvog stanja je budžetska neravnoteža koja se manifestirala u vidu strukturnog budžetskog deficita i rasta javnog duga. Fiskalna konsolidacija u svim zemljama bila je neophodna. U procesu fiskalne konsolidacije dolazi do promjene pojedinih elemenata fiskalne politike koji se razlikuju od zemlje do zemlje. U tom procesu , struktura javnih prihoda i javnih rashoda se mijenja. Postavlja se pitanje koliko je fiskalna konsolidacija bila uspješna i u kojoj mjeri. Dinamička panel analiza pomoću PMG procjenitelja u šest zemalja Zapadnog Balkana, za period od 2004-2016. godine pokazala je da fiskalna konsolidacija ima pozitivan utjecaj na ekonomski rast. Dakle, zemlje Zapadnog Balkana moraju voditi odgovorne financije kako bi potakle ekonomski rast. ; The global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand in hand with drops in public revenues. This in turn resulted in budget imbalances that manifested in structural budget deficits and higher public debt. Fiscal consolidation was deemed necessary across the board. In this process, certain fiscal policy elements varied among countries. The structure of public revenues and public expenditures changed. The question is whether the fiscal consolidation was successful and to what extent. Dynamic panel analysis using PMG estimator in six Western Balkan Countries for the period 2004-2016 has shown that fiscal consolidation has positive impact on economic growth in this region. So, Western Balkan Countries have to conduct responsible public finances in order to encourage economic growth.