During the last twenty years, there has been a sharp increase in importance and role of foreign direct investment as a promoter of economic development. In addition to generating the expected development benefits, foreign direct investments offer the possibility of improving the environmental performance of the host country, and thereupon act as a strong support in achieving goals of sustainable development. Respecting the fact that the development effects of foreign direct investment on the host country do not manifest automatically, the aim of this paper is to indicate the main policy mechanism through which developing countries and countries in transition can take advantages of foreign direct investment for achieving environmental improvement and sustainable development.
This paper examines the impact of foreign direct investment on the important component of social development, women's entrepreneurship. Promoting gender equality is one of the United Nations Millennium Development Goals, which advocates for the reduction of women's unemployment as well as their empowerment. The country of Turkey was taken as an example, for the reason that there has been an increase in women's entrepreneurial activity in the last two decades, but it is still not at а level of entrepreneural development in developed countries. The paper pays special attention to the answer on the question of whether foreign direct investment contributes to higher employment of women in Turkey, as well as to identify the obstacles that stand in the way of women's empowerment and the development of women's entrepreneurship. The practical examples described in the paper unequivocally indicate the importance of the development of women's entrepreneurship, as well as the fact that the bearers of Turkey's economic policy in the future must pay more attention to the issue of attracting foreign direct investment. ; U radu se ispituje uticaj stranih direktnih investicija na važnu komponentu socijalnog razvoja, žensko preduzetništvo. Promovisanje rodne ravnopravnosti je jedan od Milenijumskih razvojnih cilјeva Ujedinjenih nacija koji zagovara smanjenje nezaposlenosti žena, kao i njihovo osnaživanje. Kao primer je uzeta Turska, iz razloga što je u njoj prisutan porast preduzetničke aktivnosti žena u poslednje dve decenije, ali i dalјe nije na nivou razvoja preduzetničke aktivnosti u razvijenim zemlјama. U radu je posebna pažnja posvećena pružanju odgovora na pitanje da li strane direktne investicije doprinose većoj zaposlenosti žena u Turskoj, kao i identifikovanju prepreka na putu osnaživanja žena i razvoja ženskog preduzetništva. Praktični primeri opisani u radu nedvosmisleno ukazuju na značaj razvoja ženskog preduzetništva, kao i na to da nosioci ekonomske politike u Turskoj u budućem periodu moraju veću pažnju posvetiti pitanju privlačenja stranih direktnih investicija.
The concept of corporate environmental responsibility is under-implemented in developing countries, especially in those where there is insufficient application of environmental legislation regulating the way in which the business activities of the participants are carried out. In the face of insufficient government support, many multinational corporations, in collaboration with the World Business Council for Sustainable Development, have initiated collective action to adopt best environmental practices in their industries to better protect the environment. It is about adopting green programs, and this is characteristic of corporations in the cement industry, which face many challenges such as: lack of raw materials, depletion of fossil fuel reserves, increased demand for cement and concrete, strong environmental concerns related to climate change. Several different forms of voluntary initiatives can be identified by which multinational corporations seek to achieve more favourable position on the global market, such as: unilateral initiatives initiated by enterprises in the absence of government support, adoption of environmental standards on a voluntary basis have been prescribed by the state, and partnership agreements resulting from the cooperation of public and private actors. This paper reviews individual multinational corporations from the African state of Morocco and how they adopt best environmental practices from other corporations in the cement industry. Adopted environmental practices can increase the capacity of these corporations in the field of environmental protection, and provide them with communication skills that will enhance collaboration and exchange of ideas with other corporations. ; Koncept korporativne ekološke odgovornosti se nedovolјno primenjuje u zemlјama u razvoju, posebno u onim u kojima ne postoji dovolјna primena zakonskih propisa u oblasti zaštite životne sredine koja reguliše način obavlјanja poslovnih aktivnosti učesnika. U uslovima nedovolјne podrške države, mnoge multinacionalne korporacije u saradnji sa Svetskim poslovnim savetom za održivi razvoj su pokrenule kolektivne akcije kako bi usvojile najbolјe ekološke prakse u svojim industrijama u cilјu bolјe zaštite okruženja u kojem se nalaze. Reč je o usvajanju zelenih programa , i to je karakteristično za korporacije u industriji cementa koja se suočava sa brojnim izazovima kao što su: nedostatak sirovina, iscrplјivanje rezervi fosilnih goriva, povećana potražnja za cementom i betonom, izražena ekološka briga povezana sa klimatskim promenama. Moguće je identifikovati nekoliko različitih oblika dobrovolјnih inicijativa putem kojih multinacionalne korporacije nastoje da postignu što povolјniji položaj na globalnom tržištu, i to su: (1) jednostrane inicijative pokrenute od strane preduzeća u odsustvu državne podrške, (2) usvajanje ekoloških standarda na dobrovolјnoj bazi koji su propisani od strane države, i (3) sporazumi u vidu partnerstava nastali kao rezultat saradnje javnih i privatnih učesnika. U radu je dat osvrt na pojedine multinacionalne korporacije iz afričke države Maroko i na način na koji one usvajaju najbolјe ekološke prakse od drugih korporacija u industriji cementa. Usvojene ekološke prakse mogu povećati kapacitete ovih korporacija u domenu zaštite životne sredine, i obezbediti im komunikacione veštine koje će unaprediti saradnju i razmenu ideja sa drugim korporacijama.
Agriculture of the Republic of Serbia is a significant economic branch, due to the specifics of production, tradition and because of the enormous potential that it holds for improving competitive performance and development of the national economy. For this reason, in all strategic documents agriculture is recognised as a vital branch for the development of the national economy, which can be achieved by an increase in productivity and greater foreign exchange, especially with the neighbouring countries. Bearing in mind that agricultural food products represent a very important part of foreign trade of the Republic of Serbia with the countries of the Western Balkans, the goal of the research is to point out the comparative advantages of the Republic of Serbia in the exchange of agricultural and food products with the countries in the region, by applying the Balassa index. The realisation of the principal objective of the research was carried out using the methods of comparative advantage, historical method, trends method, methods of analysis and synthesis. The results of research show that the Republic of Serbia has distinct comparative advantages in relation to the countries in the Western Balkans, with the exception of the Republic of Croatia. The key contribution of this paper lies in providing a clearer insight into the comparative advantages of the Republic of Serbia in foreign trade with the countries in the region, as well as pointing out the priority directions of activities of competent authorities in order to intensify. the agricultural export, especially high quality and products at a higher level of processing.
The results of numerous investigations carried out show that the sector of small and medium-sized enterprises and entrepreneurship (SMEEs) represent a significant driving force of economic development of each country and that it is a potential generator of entrepreneurial ideas and innovations. With the intensification of the process of transition after 2000, SMEEs has become a bearer of economic growth and employment and grown into the most dynamic and most efficient segment of the economy of the Republic of Serbia. However, these companies still face many problems in business which is only further underlined by the global financial and economic crisis. The low level of competitiveness of this sector in the Republic of Serbia represents an important limitation of its future development. The main competitive advantage of every modern company accented in its ability to innovate. The advantage of SMEEs, among many others, is reflected in innovation. In general, SMEEs due to their flexibility, as well as a homogeneous structure having a good and an important prerequisite to develop innovation and thus enhance market competitiveness. Regarding their flexibility, it is particularly evident in periods of slow or stagnant economic activity and crises. Therefore, the main direction of development of the SME sector is an innovative approach to real market needs. Providing that, the aim of this paper is to contribute to a clearer understanding of the role and importance of SMEEs for economic development of the Republic of Serbia, as well as to point out the importance of improving the competitiveness and innovativeness of this sector bodies for the future economic development of the national economy.
In the modern business conditions, the creators of the new industrial policy pay increasing importance to the development of free zones as an important instrument of business infrastructure. Free zones offer huge chances for the establishment and development of small and medium-sized enterprises and improving their overall business. Experience has shown that many countries owing to the free zones achieve significant development results in comparison with other countries. The countries that have developed free zones generate: significant inflow of foreign direct investment and new technologies, rising living standards and increasing employment. Those countries that develop free zones have a greater competitive advantage, achieve faster economic development and efficiently engage in international flows. The aim of this paper is to, based on a comparative analysis of business zones in the Republic of Serbia and the European Union, indicate that the Republic of Serbia in recent years has improved its position and the investment climate, so that operation of the free zone is a lot easier. Whether the free zones in one country, and in the Republic of Serbia will be successful, depends primarily on the country's attitude towards the concept of free zones and how that affects their development, as well as the new industrial policy, its objectives and instruments. It is important to emphasize that the role of the state has changed significantly in the development of free zones, which includes as well a brighter and better future in terms of stable operation of the free zones and achieve significant results.
Political and economic changes in the former socialist countries in the early 90s of the 20th century have not only opened up possibilities for the future democratic development of these countries, but also an opportunity for solving economic, political, social and environmental situation in the context of building a new, market economic system. The unfavorable environmental situation in Serbia is caused by many factors, among which frequent changes in the economic system in the past and inadequate economic and system solutions occupy a significant place. A critical approach to the impact of economic system solutions to the political and institutional arrangements for environmental protection in the SFRY, FRY, Serbia and Montenegro and RS is therefore a suitable starting point for understanding the importance and the need to take a more active approach to solving environmental problems in Serbia. It is also a goal of this work. In addition, solving the problems in the field of environmental protection is crucial for achieving sustainable development and improving the competitiveness of the Serbian economy.
Political and economic changes in the former socialist countries in the early 90s of the 20th century have not only opened up possibilities for the future democratic development of these countries, but also an opportunity for solving economic, political, social and environmental situation in the context of building a new, market economic system. The unfavourable environmental situation in Serbia is caused by many factors, among which frequent changes in the economic system in the past and inadequate economic and system solutions occupy a significant place. A critical approach to the impact of economic system solutions to the political and institutional arrangements for environmental protection in the SFRY, FRY, Serbia and Montenegro and RS is therefore a suitable starting point for understanding the importance and the need to take a more active approach to solving environmental problems in Serbia. It is also a goal of this work. In addition, solving the problems in the field of environmental protection is crucial for achieving sustainable development and improving the competitiveness of the Serbian economy. Key Words: economic system, reforms, environmental policy, Republic of Serbia
Abstract The purpose of this study is investigating the homogeneity of the European Union countries (hereinafter: EU countries) according to the achieved level of environmental performance in agriculture and climate change in 2020. The data used for this study are from an internationally comparable database. For the purpose of validation of the laid hypothesis, methods of statistical analysis were employed. The study focuses on Climate change and Agriculture, two factors of the Ecosystem Vitality component, which will be considered in more detail, as well as the indicators included in the Environmental Performance Index (hereinafter: EPI) structure. The empirical findings revealed the existence of a medium and a positive quantitative agreement between the two environmental policy areas, agriculture and climate change. Also, the cluster analysis showed that most of the countries selected for the research apply agricultural production with controlled use of nitrogen, which further affects the reduced emissions of greenhouse gases and thus minimally contributes to climate change.
The purpose of this study is to determine the relationship between individual dimensions of institutional quality and inflows of foreign direct investment (hereinafter: FDI) on a sample of European countries in 2020. In order to investigate this relationship, the data used are from the relevant World Bank databases. Taking into account the heterogeneity of the analyzed countries regarding the development level of the dimensions of institutional quality, cluster analysis is applied to define homogeneous groups. After identifying the significance of differences in the development level of the institutional quality dimensions between clusters, the analysis focus is placed on the group of countries that belong to the first cluster. The Gray relational analysis is applied to identify those institutional quality dimensions which development should be improved. The main empirical finding of this study reveals that the relative importance of the individual institutional quality dimensions in determining FDI inflows varies in the observed countries. Also, the analysis shows that a low level of political stability has the greatest negative impact on FDI inflows in countries that belong to the first cluster. Therefore, this study gives policy recommendation regarding the activities that should be taken by the authorities in order to create an enabling institutional environment for FDI in these countries.
Agreed upon by the United Nations, the seventeen Sustainable Development Goals (SDGs) set out a framework to tackle the world's most pressing social, economic, and environmental challenges in the lead-up to 2030. They provide a network to support business in managing risks and identifying market opportunities. The Sustainable Development Goals have the potential to accelerate innovation and economic growth. However, the ambitious goals will require new models of collaboration between companies, sectors, countries, and regions. The special attention in this paper is given to the analysis of the achieved results in the Western Balkan countries in 2018 measured by the composite indicator such as Sustainable Development Goals Index. The basic research question in the research is: Are all the Western Balkans countries lagging behind the average of the region Eastern Europe and Central Asia in achieving the sustainable development goals?
The special attention in this paper is paid to the analysis of the relationship between foreign direct investment, economic sovereignty and technological dependence of the countries in the context of sustainable development. One of the most serious consequences resulting from the entry of foreign direct investment into the host country is, surely, the possible danger of endangering the national sovereignty. This danger is even greater if a country is technologically dependent and socially divided. In general, the economic sovereignty is one of the most important components of the national sovereignty. The concentration of power, economic, political and financial, in multinational companies, provides the opportunity for them to control the economic and social life of the host country, through direct investments. The purpose of the paper is to identify the negative effects of foreign direct investment on the economic sovereignty of national economies through the role of the multinational companies in developing the economic structure and achieving the development priorities of the host country. The paper highlights various aspects of the technological dependence of the host country, due to the technology transfer is often realized through foreign direct investment. Therefore, in order to achieve sustainable development and the preservation of the national and the economic sovereignty, most developing countries take measures to control the activities of multinational companies.
