Suchergebnisse

The process of globalization is a logical process of internationalization, caused by deregulation and liberalization, as well as the development of information and communication technologies. To perform an isolationist policy today is completely absurd. Therefore, the main goal of each national economy is to be engaged in international trade while retaining sovereignty and achieving sustainable development, and this is only possible if we realize that not all economic activities are qualitatively the same as the drivers of economic development, and that globalization and free trade can create an automatic economic harmony. Countries that specialize in the export of raw materials will sooner or later experience the opposite effect from economies of scale, namely declining yields. Sustainable development today is a kind of monopoly on the production of advanced goods and services, in which rich countries experience one explosion of productivity for another. In the first part of the paper, we analyze the effects that abstract theories of classical liberal economies have on the poor countries, as well as the neoliberal policies that the World Bank, the International Monetary Fund and the World Trade Organization today apply to developing countries. In the second part of the paper, we analyze examples of countries whose economic prosperity is the result of a smart and pragmatic mix of market incentives and governance. In the third part of the paper we give recommendations for the new development and trade policy of Serbia. In the last part of the paper, we point to the importance of branding as a factor in the export competitiveness of the company. ; Proces globalizacije je logičan sled internacionalizacije, uzrokovane deregulacijom i liberalizacijom, kao i razvojem informacionih i komunikacionih tehnologija. Voditi izolacionističku politiku danas je potpuno besmisleno. Zato je osnovni cilј svake zemlјe – uklјučiti se u međunarodne trgovinske tokove i pri tome zadržati suverenitet i ostvariti održivi razvoj, a to je jedino moguće ako shvatimo da nisu sve privredne delatnosti kvalitativno iste kao nosioci privrednog razvoja i da globalizacija i slobodna trgovina mogu stvoriti automatsku ekonomsku harmoniju. Zemlјe koje se specijalizuju za izvoz sirovina doći će pre ili kasnije do suprotnog efekta od ekonomije obima, naime do opadajućih prinosa. Održivi razvoj danas predstavlјa neku vrstu monopola na proizvodnju naprednih dobara i usluga, u kome bogate države doživlјavaju jednu eksploziju produktivnosti za drugom. U prvom delu rada analiziramo efekte koje su apstraktne teorije klasične liberalne ekonomije imale na siromašne zemlјe, kao i neoliberalnu politiku koju danas Svetska banka, Međunarodni monetarni fond i Svetska trgovinska organizacija primenjuju u zemlјama u razvoju. U drugom delu rada analiziramo primere zemalјa čiji je ekonomski prosperitet rezultat pametne i pragmatične mešavine tržišnog podstreka i državnog upravlјanja. U trećem delu rada dajemo preporuke za novu razvojnu i trgovinsku politiku Srbije. U poslednjem delu rada ukazujemo na značaj brendiranja kao faktra u izvoznoj konkurentnosti preduzeća

Slobodan protok roba, usluga, ljudi i kapitala, razvoj informacione i komunikacione tehnologije, učinili su da lokalni problemi postanu globalni. Finansijska kriza 2007. godine vrlo brzo je postala globalna. Pandemija kovida-19 izazvala je svetsku zdravstvenu krizu, koja je ubrzo prerasla u ekonomsku, uz pretnju da postane i društvena kriza. Makroekonomski troškovi pandemije ogledaju se u padu bruto domaćeg proizvoda (GDP), rastu nezaposlenosti, povećanju fiskalne i eksterne neravnoteže. Fiskalna politika je u svim zemljama bila okosnica ekonomske politike u borbi protiv posledica pandemije. Ono što se sa sigurnošću može reći je da je šok pandemije pogodio ekonomiju i sa strane agregatne tražnje i sa strane agregatne ponude. U radu pokušavamo da sagledamo kako je pandemija delovala na privrede zemalja Zapadnog Balkana, sa kolikim privrednim padom su se suočile u 2020. godini. U radu takođe analiziramo koliko su javni sektor, zdravstvo i obrazovanje bili efikasni u borbi protiv posledica pandemije. ; The free flow of goods, services, people and capital, and the development of information and communication technology have all made local problems global. The 2007 financial crisis very quickly became global. The COVID-19 pandemic caused a worldwide health crisis, which quickly became an economic one, with threats of becoming a social one as well. The macroeconomic costs of the pandemic are visible in the form of shrinking GDP, the rise of unemployment, as well as fiscal and external imbalance. In all countries fiscal policy was the cornerstone of economic policy in the fight against the consequences of the pandemic. What we can say for certain is that the shock of the pandemic hit the economy both from the aspect of aggregate demand, as well as aggregate supply. In this paper we take a look at how the pandemic affected the economies of the Western Balkan countries, and the scale of the economic downturn they will face in 2020. We will also analyze how effective the public sector, the medical system, and education have been in the fight against the consequences of the pandemic.

Postsocijalističke privrede su početkom devedesetih godina dvadesetog veka započele tranziciju u kapitalistički sistem i intenzivnije uključivanje u procese globalizacije. Region Zapadnog Balkana je u tom periodu bio zahvaćen političkom i društvenom nestabilnošću koja se nepovoljno odrazila na ekonomske reforme i međunarodnu poziciju zemalja regiona. Glavni problem sa kojim su se zemlje regiona Zapadnog Balkana suočile bio je tehnološko zaostajanje i nedostatak domaće akumulacije. Preovladao je stav da će priliv stranih direktnih investicija pokrenuti ekonomski rast i tehnološku modernizaciju proizvodnje i omogućiti uspešno uključivanje u procese globalizacije. Kako bi se unapredila međunarodna konkurentnost zemalja Zapadnog Balkana, završetak tranzicionih reformi je označen kao prioritetan korak. Predmet istraživanja disertacije je teorijsko razmatranje i empirijsko utvrđivanje efekata tranzicije i globalizacije na konkurentnost zemalja Zapadnog Balkana tokom prve dve decenije XXI veka. U sprovedenom istraživanju, jedanaest privreda Centralne i Istočne Evrope je iskorišćeno kao osnov za poređenje i tumačenje rezultata za pet zemalja Zapadnog Balkana. Empirijski rezultati u disertaciji pokazuju statistički značajan pozitivan uticaj tranzicije i globalizacije na unapređenje konkurentnosti zemalja regiona Zapadnog Balkana. ; Post-socialist states began the transition process to a capitalism and more intensive integration in the processes of globalization in the early 1990s. During that period, the Western Balkans region was affected by political and social instability, which adversely reflected to economic reforms and the international position of the countries in the region. The main problem the countries of the Western Balkans region faced was technological stagnancy and a lack of domestic accumulation. The prevailing view is that foreign direct investment inflows will drive economic growth and technological modernization of production and enable successfully integration this group of countries in the processes of globalization. In order to improve the international competitiveness of the Western Balkan countries, the finishing of transition reforms has been identified as a priority step. The subject of the PhD thesis is theoretical consideration and empirical determination of the effects of transition and globalization on the competitiveness of the Western Balkan countries during the first two decades of the 21st century. In the research that carried out, eleven economies of Central and Eastern Europe were used as a base for comparing and interpreting the results of the Western Balkans countries. Empirical results obtained in the researching part of the doctoral dissertation show a statistically significant positive impact of transition and globalization on improving the competitiveness of the states of the Western Balkans region.

Тhis paper considers the phenomenon of global growth, emphasizing the slowdown and (limits) of the Western GDP growth. By comparing the United States as the most mature economy in the world, China as the new hegemon, the OECD countries, the BRICS countries, and the rest of the world, we show the growth and unequal development of the five "regional futures" of the global world. In addition to the imminent economic reasons for the backwardness of Western economies and societies, the crisis of the structure and functioning of the democratic capitalist system, and the ecological limits of sustainability, we emphasize two non-economic moments: the end of liberalism as a fundamental ideology of the Western world, and the loss of trust, which is a fundamental moral category. According to futurist forecasts, the West has slowed down, the financial system has been damaged, and the recovery is slow and uncertain. The following subjects are being considered: the growth paradigm, the belief in lasting progress, the end of liberalism and the loss of confidence, the recovery of Western economies, some monetary policy measures, and European fiduciary money and the slowdown of the growth in the Eurozone. The monetary economy of the euro as an agreed single currency has caused strong changes in the Eurozone and has "trapped" the European Union. The euro economy, among other things, is responsible for the sharp division of the Eurozone member states into surplus and deficit countries, and the Eurozone crisis, stagnation, and slowdown in economic (non-economic) growth. ; U ovom radu razmatramo fenomen rasta na globalnom nivou, apostrofirajući usporavanje i (granice) rasta BDP Zapada. Komparacijom SAD kao najzrelije ekonomije na svijetu, Kine kao novog hegemona, zemalja OECD-a, zatim zemalja BRICS-a, te ostatka svijeta, predočava se rast i nejednaki razvoj pet ,,regionalnih budućnosti," globalnog svijeta. Pored imanentnih ekonomskih razloga zaostajanja zapadnih ekonomija i društava, krize strukture i funkcionisanja demokratskog kapitalističkog sistema, i ekološke granice održivosti, ističemo i dva neekonomska momenta, kraj liberalizma kao fundamentalne ideologije zapadnog svijeta i gubitak povjerenja kao temeljne moralne kategorije. Prema prognozama futurista, Zapad je posustao, finansijski sistem je oštećen, oporavak je spor i neizvjestan. Predmet razmatranja su: paradigma rasta, vjera u trajni napredak, kraj liberalizma i gubitak povjerenja, oporavak zapadnih ekonomija, neke mjere monetarne politike, te Evropski prekarni novac i usporavanje rasta evrozone. Monetarna ekonomija evra kao dogovorene jedinstvene valute izazvala je snažne promjene u evrozoni i Evropskoj uniji uhvaćenoj u ,,zamku." Ekonomija evra, između ostalog, odgovorna je za oštru podjelu zemalja članica evrozone na zemlje suficita i zemlje deficita, te krizu evrozone, stagnaciju i usporavanja ekonomskog (neekonomskog) rasta.

The governments of all countries of the world have faced up with the health crisis caused by the Covid 19 virus pandemic in the previous and current year. This crisis turned into an economic crisis, considering that it was necessary to provide huge financial resources to overcome it. Governments "pumped" additional amounts of money by supplying the economy and the population with new liquidity through subsidies and one-time assistance in the form of "helicopter money". This has contributed to the deterioration of the fiscal performance of the world economies. The paper analyzes the economic and fiscal performance of the world leading economies such as the European Union, the United States, China and Russia. The aim of this paper is to point out the consequences of the applied measures in the domain of monetary and fiscal policy and influence on the increase of the budget deficit and public debt in the world. ; Vlade svih država sveta suočile su se sa zdravstvenom krizom izazvanom pandemijom kovida-19 u prethodnoj i tekućoj godini. Ova kriza je prerasla u ekonomsku krizu, s obzirom na to da je za njeno prevazilaženje bilo neophodno obezbediti ogromna finansijska sredstva. Osim toga, vlade su "upumpavale" dodatne količine novca snabdevajući privredu i stanovništvo novom likvidnošću kroz subvencije i jednokratne pomoći u vidu "novca iz helikoptera".Sve ovo je doprinelo pogoršanju fiskalnih performansi ekonomija u svetu. U radu su analizirane ekonomske i fiskalne performanse vodećih ekonomija sveta poput Evropske unije, SAD, Kine i Rusije. Cilј rada je da ukaže na posledice primenjenih mera u domenu monetarne i fiskalne politike na rast budžetskog deficita i javnog duga u svetu.

Recent theoretical and empirical research in economic science and other social sciences has indicated a growing interest in the interdependence of social capital and public governance. The aim of the paper is to identify the basic channels and mechanisms for the contribution of social capital to the quality of public governance, based on the analysis of the interdependence of social capital and public governance. The subject of this doctoral dissertation is social capital as a determinant of the quality of public governance. Statistical methods - regression and correlation analysis - were applied to determine cause and effect relationships between the investigated phenomena. The analysis covers selected transition economies (10 Central and Eastern European countries: Hungary, Poland, Czech Republic, Slovakia, Estonia, Latvia, Lithuania, Slovenia, Bulgaria and Romania, as well as the Republic of Serbia) for the two comparative time series relating to 2010 and 2016. year. The results of correlation and regression analysis confirmed the starting hypothesis that there is a relationship of interdependence between social capital and public governance. In addition, selected theoretical and empirical research has shown the validity of hypotheses that a higher level of trust creates the conditions for the development of effective formal institutions, and that social participation influences the development of a more responsible and responsive public administration. Particular attention in this doctoral dissertation is also devoted to the analysis of the state of social capital and the performance of public governance in the Republic of Serbia. Also, the observed tendencies in the structure of public governance in the Republic of Serbia indicate the importance of combating corruption and strengthening the rule of law. The research findings in this doctoral dissertation represent a significant input to macroeconomic policy makers in transition economies and provide a basis for considering the importance of social capital and its individual components, as determinants of improving the quality of public governance.

This paper will assess the results of transition in the Yugoslav successor states using objective and subjective criteria. Four objective criteria related to economic growth will be used to compare economic performance in Yugoslavia and its successor states; 1. Speed of recovery after war/change in system, 2. Absolute growth rates, 3. Relative growth rates, 4. Place in world development. This will be supplemented by a survey of public opinion conducted by the European Bank for Reconstruction and Development.All the four objective criteria show that the Yugoslav economy performed much better than the economies of its successor states. The survey shows that only 20 percent of population are happy with the results of transition in South Eastern European countries, while 64 percent are unhappy and 16 percent are undecided. In the former Yugoslavia much less than 20 percent of population are happy with the changes brought by the transition.

More than one decade Serbia has been passing through the process of market reforms. Establishing of market economy institution had to allow the country one stabile economic development in the light of EU accession. That is, by the way, the same strategy of the most countries of Western Balkan. Actual economic crisis showed the other side of the result of previous changes, and of the realized growth and development. That were the consequences on macro economic and financial instability and structure of the economy. Many circumstances showed that in the Serbian real and normative economic system there were numerous controversies stopping or slowing EU accession and basic re forms process. European economic system is based on institutions. In spite of many bureaucratic obstacles of this system institutions are the main guarantee of the system surviving. The institutions in Serbia were not established in desirable way. The government, the parliament and courts are continually in conflicts, based on formalization of institutions. Regulatory bodies are very week and under pressure of parties power control, as well as corruption and institution formalizing. All those facts have negative influence on the process of EU accession and market reforms. Serbia need to accept lawful state and institution strengthening in order to catch a connection for advanced economies in reform. Most important conditions are not only better laws, but better education. .

Predmet istraživanja doktorske disertacije odnosi se na analizu značaja i mehanizama na koji institucionalna obeležja utiču na efikasnost nacionalnih ekonomija. Pritom, cilj je da se istraživanjem identifikuju relevantne normativne i pozitivne pozicije u pogledu uloge koju institucije imaju u ekonomskim procesima, kao i njihov međusobni odnos i relativna važnost pri uticaju na ekonomske performanse, sa posebnim osvrtom na iskustva privrednih sistema zemalja u tranziciji. Iz tog razloga, analizirane su osobenosti institucija kao jedinica ekonomske analize, raznovrsnost elemenata institucionalne strukture, kroz, naročit, osvrt na interakciju koja se pojavljuje između formalnih i neformalnih institucionalnih pravila. Uslovljenost ekonomskih performansi institucionalnim svojstvima analizirana je iz perspektive teorije transakcionih troškova, kao i teorije vlasničkih prava i mehanizmima kojima oni ostvaruju uticaj na ekonomske performanse. Iz razloga što značajan deo institucionalne strukture nastaje, ali se i menja, u okviru političkog sistema, efekti na ekonomsku aktivnost posmatrani su kroz uticaje koji nastaju kao posledica specifičnosti političkih institucija, odnosno, njihove stabilnosti, forme i centralizovanosti, kao i kvaliteta javnog upravljanja, uticaja rent-seeking-a i političkih konjunkturnih ciklusa. S obzirom da su postojanost i dinamika integralna svojstva svakog segmenta institucionalne strukture, deo istraživanja je orijentisan na analizu osnovnih elemenata, tipova i teorija institucionalnih promena, zavisnost promene institucija od istorijskog institucionalnog, formalnog i neformalnog, nasleđa, kontroverzi u pogledu transplantacije institucija, kao i uzroka institucionalne histereze i neuspeha. Na osnovu empirijskog istraživanja odnosa ekonomskih performansi i institucionalnog kvaliteta, utvrđeno je da nivo per capita dohotka odlučujuće zavisi od kvaliteta institucionalne strukture, efikasne zaštite vlasničkih prava, usklađenosti između formalnih i neformalnih pravila, čime institucionalne promene u pravcu unapređenja svih institucionalnih segmenata predstavljaju neophodnu pretpostavku efikasnijoj ekonomskoj aktivnosti. ; This paper refers to the analysis of the importance of the institutions and the mechanisms through which the institutional characteristics influence the efficiency of national economies. In this context, the main goals of the research are to identify and explain relevant normative and positive aspects of institutional theory, the way in which institutions affect economic processes, as well as the interrelation and relative importance of different institutional units in their influence on economic performance, with special emphasis on the experience of transition countries. For this purpose, the author has reviewed the uniqueness of institutions as units of economic analysis, the diversity of the elements of institutional structure, with the particular accent on interaction between formal and informal institutional rules. Dependence of economic performance upon the institutional characteristics has been analyzed from the perspective of transaction-cost theory, as well as the theory of property rights. Special attention is paid to the mechanism through which the property rights exercise their influence upon the efficient operation of economic system. Bearing in mind the fact that the important part of institutional structure is made within a political process, the effects of institutions are observed through the influences derived from political stability, political regime and the level of administrative and fiscal centralization. The quality of governance, the impact of rent-seeking activities and the influence coming from political and business cycles are additional important features in this regard. Since the institutions display the persistence and changeability at the same time, the important part of the research is dedicated to the analysis of different types and theories of institutional changes, the dependency of changes on the past formal and informal institutional development, the issues related to the transplantation of institutions and the causes of institutional hysteresis. Based on the empirical part of the thesis, we have reached the conclusion that the level of per capita income largely depends on the quality of institutions, especially the protection of property rights, as well as the harmonization between formal and informal institutions. This makes good institutions a decisive and long-lasting factor of the success and efficiency of national economies.

After the break-up of the former Yugoslavia, the countries of Western Balkans are slowly establishing mutual economic cooperation, and are struggling with their participation in international trade flow with the usage of international marketing instruments. This significantly decreases their opportunities to accelerate economic development and to improve their competitiveness in the time of new crisis caused by Covid-19 pandemic. Small markets and interstate administrative barriers in the Western Balkans hinder the establishment of new and development of existing enterprises, and cause an outflow of creative human resources. Therefore, it is necessary to promote innovative possibilities of removing barriers for faster circulation of goods, people and capital. The implementation of new models of international marketing could significantly contribute to the intensification of mutual economic cooperation, internationalization of business and attracting foreign investment which are accompanied by the spillover effect. As a result, one could expect the improvement of national economies' competitiveness, increase of exports and gross domestic product and improvement of population living standards. ; Zemlјe Zapadnog Balkana posle raspada bivše Jugoslavije vrlo sporo uspostavlјaju međusobnu privrednu saradnju i zaostaju sa uklјučivanjem u međunarodne privredne tokove, uz pomoć instrumenata međunarodnog marketinga. To značajno umanjuje njihove mogućnosti ubrzanja privrednog razvoja i unapređenja konkurentnosti u uslovima nove ekonomske krize, izazvane pandemijom kovida-19. Mala tržišta i međudržavne administrativne barijere zemalјa Zapadnog Balkana koče osnivanje novih i razvoj postojećih preduzeća, te uzrokuju odliv kreativnih lјudskih resursa. Stoga je potrebno promovisati inovativne mogućnosti uklanjanja barijera za bržu cirkualciju robe, lјudi i kapitala. Primena novih modela međunarodnog marketinga mogla bi značajno doprineti intenziviranju međusobne privredne saradnje, internacionalizaciji poslovanja i privlačenju stranih investicija koje prati spilover efekat. Kao rezultat toga, moglo bi se očekivati unapređenje konkurentnosti privrede ovih zemalјa, povećanje izvoza, povećanje bruto domaćeg proizvoda i standarda stanovništva.

Visoko obrazovanje u Sjedinjenim Američkim Državama je po većini kvantita¬tivnih i kvalitativnih pokazatelja najbolje na svetu. Univerziteti u Sjedinjenim Američkim Državama, zajedno sa onima u Ujedinjenom Kraljevstvu, privlače najbolje studente ne samo iz Evrope već širom sveta uključujući najmnogoljudnije zemlje i rastuće ekonomije poput Kine, Indije, Brazila ili Indonezije. Istovremeno, priznati profesori i istraživači mahom rade u Sjedinjenim Američkim Državama, imajući u vidu sjajne uslove za rad i istraživanja. Međutim, snaga američkih univerziteta je istovremeno i njihova slabost u kontekstu COVID-19 epidemije. Većina univerziteta su privatni univerziteti koji u potpunosti zavise od tržišta, donacija, a ponajviše studentskih školarina. Epidemija je zaoštrila problem marketizacije obrazovanja u SAD imajući u vidu da većina studenata preispituje nastavak školovanja u novonastalim uslovima, ekonomske neizvesnosti koju epidemija donosi, kao i nesigurnog tržišta rada. Analizirajući studiju slučaja Nortvestern univerziteta, tekst se bavi ekonomskim i društvenim posledicama koje epidemija ima na visoko obrazovanje u Sjedinjenim Američkim Državama, kao i mogućim načinima njegovog prevladavanja.‎ ; Higher education in the United States is the best in the world according to most quantitative and qualitative indicators. Universities in the United States, along with those in the United Kingdom, attract the best students not only from Europe but around the world, including the most populous countries and growing economies such as China, India, Brazil or Indonesia. At the same time, renowned professors and researchers mostly work in the United States, given the excellent working and research conditions. However, the strength of American universities is, at the same time, their weakness in the context of the COVID-19 epidemic. Most universities are private universities that depend entirely on the market, donations, and mostly student tuition. The epidemic has exacerbated the problem of marketing education in the United States, bearing in mind that most students are reconsidering the continuation of schooling due to economic uncertainty that the epidemic brings and uncertain labour market. Focusing on the case study of Northwestern University, the text is analyzing the economic and social consequences of the epidemic on higher education in the United States, as well as possible ways to overcome it.

Higher education in the United States is the best in the world according to most quantitative and qualitative indicators. Universities in the United States, along with those in the United Kingdom, attract the best students not only from Europe but around the world including the most populous countries and growing economies such as China, India, Brazil or Indonesia. At the same time, renowned professors and researchers mostly work in the United States, given the excellent working and research conditions. However, the strength of American universities is, at the same time, their weakness in the context of the COVID-19 epidemic. Most universities are private universities that depend entirely on the market, donations, and mostly student tuition. The epidemic has exacerbated the problem of marketing education in the United States, bearing in mind that most students are reconsidering the continuation of schooling due to economic uncertainty that the epidemic brings and uncertain labour market. Focusing on the case study of Northwestern University, the text is analyzing the economic and social consequences of the epidemic on higher education in the United States, as well as possible ways to overcome it. ; Visoko obrazovanje u Sjedinjenim Američkim Državama je po većini kvantitativnih i kvalitativnih pokazatelja najbolje na svetu. Univerziteti u Sjedinjenim Američkim Državama, zajedno sa onima u Ujedinjenom Kraljevstvu, privlače najbolje studente ne samo iz Evrope već širom sveta uključujući najmnogoljudnije zemlje i rastuće ekonomije poput Kine, Indije, Brazila ili Indonezije. Istovremeno, priznati profesori i istraživači mahom rade u Sjedinjenim Američkim Državama, imajući u vidu sjajne uslove za rad i istraživanja. Međutim, snaga američkih univerziteta je istovremeno i njihova slabost u kontekstu COVID-19 epidemije. Većina univerziteta su privatni univerziteti koji u potpunosti zavise od tržišta, donacija, a ponajviše studentskih školarina. Epidemija je zaoštrila problem marketizacije obrazovanja u SAD imajući u vidu da većina studenata preispituje nastavak školovanja u novonastalim uslovima, ekonomske neizvesnosti koju epidemija donosi kao i nesigurnog tržišta rada. Analizirajući studiju slučaja Nortvestern univerziteta, tekst se bavi ekonomskim i društvenim posledicama koje epidemija ima na visoko obrazovanje u Sjedinjenim Američkim Državama, kao i mogućim načinima njegovog prevladavanja.