scholarly journals DEVELOPMENT PROCESSES IN THE INDUSTRY OF THE REPUBLIC OF SERBIA DURING THE FIRST DECADE OF THE 21st CENTURY

TEME ◽  
2020 ◽  
pp. 565
Author(s):  
Živorad Gligorijević ◽  
Enes Ćorović ◽  
Aleksandar Manasijević

The first decade of the 21st century in the Republic of Serbia is characterized by numerous changes of the economic nature. It was a period of accelerated reform based on the neoliberal concept, i.e. a period of transition to the spontaneous unfolding of economic flows. This concept should have guided the economy of the Republic of Serbia towards the market economy, enabled relatively high rates of economic growth, has raised its level of competitiveness and, has ultimately, prepared it for the market competition. However, it can be concluded that the ten-year application of this concept has directed the economy of the Republic of Serbia in a completely different direction: towards foreign savings, disproportionate growth of the sector of non-tradable goods and services and overheating of domestic demand as the main driver of growth. The inability to autonomously or partially autonomously create their own sources of growth, on the one hand, and the continuation of the foreign borrowing spiral, on the other, were key synthetic indicators of the current state of the economy. Therefore, the Republic of Serbia was forced to change its economic growth model. According to many opinions, development processes in industry, its position in the newly formed economic structure of the country, as well as structural changes within the industry itself, has been one of the key causes of the negative developmental trends in the economy of the Republic of Serbia during the first decade of the 21st century. With this in mind, this paper analyzes the development processes in the industry of the Republic of Serbia during the first decade of the 21st century, that is, the results of the aforementioned processes, namely: changes in the structure of industry, results of privatization of industry, trends in employment in industry, and developments in foreign trade industry.

2019 ◽  
Vol 5 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Valeriy V. Mironov ◽  
Liudmila D. Konovalova

The article considers the problem of the relationship of structural changes and economic growth in the global economy and Russia in the framework of different methodological approaches. At the same time, the paper provides the analysis of complementarity of economic policy types, which, on the one hand, are aimed at developing the fundamentals of GDP growth (institutions, human capital and macroeconomic stabilization), and on the other hand, at initiating growth (with stable fundamentals) with the help of structural policy measures. In the study of structural changes in the global economy, new forms of policies of this kind have been revealed, in particular aimed at identifying sectors — drivers of economic growth based on a portfolio approach. In a given paper a preliminary version of the model of the Russian economy is provided, using a multisector version of the Thirlwall’s Law. Besides, the authors highlight a number of target parameters of indicators of competitiveness of the sectors of the Russian economy that allow us to expect its growth rate to accelerate above the exogenously given growth rate of the world economy.


Servis plus ◽  
2017 ◽  
pp. 78-92
Author(s):  
Елена Кочеткова ◽  
Elena Kochetkova ◽  
Светлана Трусова ◽  
Svetlana Trusova

This article focuses on the nature and role of small business in the sphere of consumer market and services as an important condition of economic growth. The article presents the analysis of the state of small business in the federal subjects of Russia - the Republic of Khakassia, and summarizes its development, the structure of small business by the number of enterprises in different activities. The authors estimate the small business in the sphere of consumer market and services and present the peculiarities and problems of development of entrepreneurial structures in the sphere of consumer market and services at the regional level (on the example of Republic of Khakassia). The consumer market remains one of the most important factors of economic growth in the Republic of Khakassia. The authors determine the factors contributing to the development of small business on regional level and their impact on economic growth. They note that just small businesses do not require large upfront investment and guaranteeing a high rate of turnover of resources and they can most quickly solve the problems of the formation and saturation of market with goods and services. Small businesses can quickly respond to changing consumer demand and thus they can provide the necessary balance in the consumer market. This study is limited to the territory of the Republic of Khakassia, however, the information can be applied and used in other regions of the Russian Federation, as well as in the preparation of textbooks and articles.


2020 ◽  
Vol 01 (01) ◽  
pp. 85-94
Author(s):  
Akmal Yorievich Ostanov ◽  

Small and private entrepreneurship is becoming increasingly important in the world economy. International experience shows that the impact of small and private entrepreneurship on economic growth through the creation of new jobs is very important. The role of these enterprises is growing, especially as economic development progresses towards services and information technology. Small and private enterprises are becoming economic entities where new techniques and technologies are rapidly introduced, advanced management methods are rapidly applied and effective in the short term. Indeed, the role of employment in economic growth through the development of small and private entrepreneurship is immeasurable.In particular, entrepreneurship plays an important role not only in the socio-economic life of the republic, but also in the regions. Entrepreneurship is a source of endless opportunities for the development of market relations, ensuring the stability of the economy, attracting investment from domestic and foreign sources, as well as meeting the growing employment needs of the population. Indeed, the origin of small and private enterprises is a reflection of a complex set of needs of different composition, primarily due to the need to increase the number of enterprises that can influence and withstand market competition in the country's economy; second, it is characterized by the fact that small and private businesses are the cheapest, preferred, and preferred method of recruiting the population. The article summarizes the laws of emergence and formation of entrepreneurship. In particular, it was found that the emergence of criteria based on the number of employees as well as production indicators has made small and private entrepreneurship an important phenomenon of economic development. Accordingly, it is proposed to improve the characteristics of small and private entrepreneurship using both criteria, and a new, improved definition of the concept of "entrepreneurship" and "entrepreneur" applied to employment. The article consists of an introduction, goals and objectives, methods, results and comments, and a conclusion.


1998 ◽  
Vol 13 (0) ◽  
pp. 173-186
Author(s):  
Jeong Ho Lee

Although the Republic of Korea has recovered from the ruins of the 1950's Korean War and achieved a remarkable economic growth during the past 40 years, it is now, at the threshold of 21st century, faced with the great national economic crises which led us to receive the IMF's rescue fund. To make a long story short, I presume the cause of the economic tragedy mainly originated from the fact that the frame and habitude of our way of life were not so changed suitably as to accommodate the new era of unbounded international competition.


2021 ◽  
Vol 26 (2) ◽  
pp. 145-158
Author(s):  
Martina Sopta ◽  
Vlatka Bilas ◽  
Sanja Franc

The main objective of this paper is to analyze the causal relationship between foreign direct investment (FDI), exports, and economic growth in the Republic of Croatia for the period 2000-2020 and determine the implications of research results on corporate management. The management of the investment enterprise is usually interested in high returns, whereas the management of the recipient enterprise is interested in higher productivity, spillovers, and larger market share on domestic and international markets. Several methodological approaches, including unit root tests, cointegration tests, and Granger causality test, were used to assess the relationship between gross domestic product (GDP) growth rate, on the one side, and the share of FDI and total exports of goods and services in real GDP, on the other side. The results of cointegration tests indicated there is no long-term relationship between the real GDP growth rate, the share of FDI, and the share of exports of goods and services in real GDP. Based on the Granger causality test, it cannot be concluded that there is no causal relationship between the analysed variables. Finally, the paper discusses the implications of the conducted research for corporate management. The results indicate that managers are not discouraged by the fact that FDI is not correlated to economic growth, as investment decisions are determined by numerous factors and not primarily by the growth rate of a recipient country.


Significance The government initiated the talks with a view to defusing tensions in domestic politics. Opposition parties boycotted the one-sided presidential election in 2014 that brought President Mohamed Ould Abdel Aziz to power for a second time since his 2009 win. Abdel Aziz initially came to power in a coup in 2008, and dominates politics along with his Union for the Republic (UPR) party. Impacts Economic growth will be driven primarily by the mining and petroleum sector. Mining companies may scale back their investment plans further. Economic hardship and discrimination may lead to more protests, but these will be limited.


2020 ◽  
pp. 29-37
Author(s):  
Ilya Zaprudski ◽  

The purpose of the study is to identify and characterize the transformation processes that occurred in the territorial and sectoral structure of the industry of the Republic of Belarus from 1990 to 2018. The study was conducted on the basis of the use of original database of industrial enterprises created by the author. The methodical algorithm of the economic and geographical analysis of changes in the territorial-branch structure of the industry on the basis of an estimation of territorial concentration, territorial differentiation of manufacture and accompanying structural changes is offered. As a result, the author came to the conclusion that a robust center-peripheral stratification of the territorial-sectoral structure has developed with the formation of the Minsk industrial agglomeration given a growing number of industrial enterprises and nodal elements in Belarus over the period of the research. This requires the development of directions for improving the territorial organization of society and regional policy in the country. The novelty of the study is determined by the first economic and geographical analysis of transformational changes in the territorial and sectoral structure of industry of the Republic of Belarus for the entire period since the proclamation of sovereignty. This analysis is based on the use of the author’s database on the number of large and medium-sized industrial enterprises. On the one hand, it is characterized by a number of limitations, but, on the other hand, it has a practical advantage in relation to other works on similar subjects.


2003 ◽  
Vol 55 (3-4) ◽  
pp. 374-394
Author(s):  
Ljubica Zjalic

Cultural and technological determinants of development exert substantial impact on life and work in present conditions. One should bear in mind the network integrated society that has resulted from information technologies. Orientation towards information technologies innovates life and work. Today, there prevails the opinion that education, knowledge and human resources (human capital) have as their priorities adoption of information technologies. Lifetime education is more important than economy. It makes easier to achieve development and contributes to its harmonisation with elements of some other processes. In addition, the labour market is the one that determines the necessary qualifications. One should recognise that investment in human resources is of the greatest significance for successful economic development, employment, social cohesion and stability. It is also a direct way that offers numerous and various opportunities in the social and cultural life, but it also reflects the need to develop co-operation with the family, industry and the people who play an active role in the field of culture. Since it functions in the world of global interdependence culture must be scientifically and technologically cultivated so as to give its contribution to the integration processes. There only remains the question what development, this even including technological development and information technologies in particular, request from a culture to offer. This, certainly, also includes mechanisms that will determine the quality of life and the future of culture. Culture was created by man in history, adopting and processing all its new products. For this reason, culture is regarded to bring ?additional value? to work and life of every individual, strengthening cultural identity, too. Cultural identity is a self-consciousness of a member of a group being historically created and developed in accordance with the criteria established in their relationship with other social groups. New technologies make knowledge globalised changing the mode of work. It is of importance to determine what kind of technological development suits the already shaped cultural identity of a nation. The international market encourages the processes within which countries learn and realise that cultural behaviour is also included in the facilities they create. It is only within the relationship to the others that one can become conscious of himself. The challenges of the information technology require to take care of the two pillars of education for 21st century - to study to know and to study to be able to work. This means that one should master the information and telecommunication technology, and work and live with it. In one society, this will create a spiral of economic growth and technological progress and it will be directed upward. The greatest test for human society in the 21st century is how to use the power of technology and how to find efficient solutions to relive three fourth of the poor population of forced migration (armed conflicts) to technologically far more developed areas. Actually, the most important thing is to make the nation respond to changes and shape its present life and work. Transnational companies that are the main creators and controllers of information technologies have much greater power than responsibility. They transfer not only capital but technologies, too, and enter the age with no national products or technologies or national industries. They will depend on the following four relevant markets: finance and capital, telecommunications and informatics, labour force and natural resources and ecology. In this way, globalisation will affect business expectations of individuals and, in general, the employment structure. Nevertheless, the national state will primarily remain the subject of identity for most people. The best way to create better living conditions is to establish modern institutions and successful economy in one?s own society. Knowledge becomes the basic resource of development. And as transition is an equitation with no definite result one should always improve the existing situation in order to find a better way from the one that is just being traced. The reason for this is the fact that market economy is always in transition. The best way to help (poor people) is to encourage economic growth. If any individual in a society has a chance to make success and the access to health care and education, and also a chance to find a job and make his own life, to recognise the relevance of every problem, than there could chosen the most optimal solution, since economy is the science of choices.


2021 ◽  
Vol 59 (1) ◽  
pp. 109-132
Author(s):  
Biljana Gojković ◽  
Sanja Popović ◽  
Marijana Đukić

Abstract Fiscal stability of the local self-government units is the condition for stable public finances of the Republic of Srpska (hereinafter: RS) as a whole. Stable public finances of local self-government units have a positive impact on the economic growth of the RS. Therefore, it is necessary to pay a significant attention to the fiscal problems of local self-government units (hereinafter: LGUs). Although the public finances of the LGUs make up 15% of the total public finances of the Republic of Srpska, it is important to emphasize that the life of the RS citizens takes place in the local self-government. In this regard, LGUs have the important role in providing public goods and services, as well as creating the environment for the life of citizens on the basis of legally defined competencies. Having in mind the importance and role of local self-government units in the RS, it is necessary to ensure the efficient management and stability of their public finances. One of the preconditions for the successful exercise of the competencies of LGUs is the rational and efficient use of available resources. The aim of this paper is to examine the impact of the key fiscal factors of local self-government units on their fiscal stability. The results of this analysis will provide answers to the question of how rational and efficient local self-government units are in the execution of their competencies and how it is reflected on their revenues and expenditures, i.e. in total public finances of RS.


1997 ◽  
Vol 36 (4I) ◽  
pp. 315-320
Author(s):  
Nafis Sadik

This is a critical historical moment, in the 50th year of our independence. Our decisions, commitment and action in the next few years will affect our country for much of the 21st century. The decisions needed would be a challenge for any country: for Pakistan they involve a drastic change in development priorities. Our development efforts since Independence have gone into building the economy. In the early years this was quite successful: we harnessed the great rivers for power and irrigation; we revolutionised agriculture, we pushed exports up to new levels. For a time economic growth was quite dynamic. But we were always aware that something was missing. At Independence Pakistan started more or less even with other countries in the region. All our efforts since then have left us lagging behind. In 1950 the Republic of Korea had about the same GNP per head as Pakistan. Today Korea’s GNP is $7,670; ours $476. That is a difference of 1,611 percent.


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