Structural Changes and Sustainable Economic Development of the Republic of Serbia in a Pandemic

2022 ◽  
pp. 411-432
Author(s):  
Vladimir Mićić ◽  
Filip Ž. Bugarčić

The challenges of the COVID-19 pandemic are important and relevant for sustainable development. The aim of this chapter is to review the existing model of economic development, because the COVID-19 pandemic has called into question the effects of structural changes in the economy and manufacturing industry in Serbia. The main contribution of this chapter is the review of development results which show that Serbia is in the process of economic recovery, but that it has not yet embarked on the path of sustainable economic development due to numerous structural problems. Serbia has experience with unsustainable economic development, and this is a strong argument in favor of sustainable concept implementation. In addition, this chapter provides empirical research on structural and technological changes. The obtained results can be used by economic and industrial policy makers to influence the consequences of COVID-19 and to avoid the slowdown of structural reforms. There will be numerous economic, environmental, social, and especially health challenges whose solutions must be sustainable.

Author(s):  
Vladimir Mićić

The fourth industrial revolution is about the development of Industry 4.0, the changing of the production paradigm and economic digitalization. The research subject are the development conditions of Industry 4.0 in the Republic of Serbia. The main research objective is to point out the importance of the efficient development of Industry 4.0 and the implementation of structural changes through the process of digitalization and application of technological innovation in the manufacturing industry. The method of analysis is used to identify the concepts of Industry 4.0 and the new industrial paradigm. The comparative method is used to compare technological criteria and changes. The development conditions of Industry 4.0 are analyzed indirectly through technological criteria and innovation, i.e. data obtained from survey on innovation, individual innovation and technology indicators and composite indicators. Industry 4.0 is an important factor in technological and structural change, economic growth and competitiveness. The research results show that the Republic of Serbia lacks incentives for the development of Industry 4.0. The research results are useful to industrial policy makers as they point to some of the key factors and directions of change to create the conditions for the development of Industry 4.0, the manufacturing industry and the digital transformation of the economy.


2020 ◽  
Vol 12 (12) ◽  
pp. 5053 ◽  
Author(s):  
Ran Tao ◽  
Oana Ramona Glonț ◽  
Zheng-Zheng Li ◽  
Oana Ramona Lobonț ◽  
Adina Alexandra Guzun

Military spending and sustainable economic development have been widely discussed in recent decades. Especially in Romania, the defense budget is valued at $4.8 billion, registering a compound annual growth rate (CAGR) of 23.57%. It is also expected to reach $7.6 billion in 2023, according to a report by Strategic Defense Intelligence. There is no consensus in current research and less attention is paid to Eastern European countries. Considering the significant increase in military spending in Romania in recent years, as well as the occurrence of political events, this paper focuses on the dynamic causal relationship between military spending and sustainable economic growth in Romania. The bootstrap rolling window causality test takes into account the structural changes, and therefore, provides more convincing results. The results indicate negative effects of military expenditure on sustainable economic growth between 1996–1999 and 2002–2004. It can be attributed to the crowding-out effect of public expenditure on private investment. The positive effect between the two variables analyzed is noticed with the accession of Romania to the North Atlantic Treaty Organization. Conversely, it is found that economic growth does not have a significant effect on military spending in Romania. Policymakers should guard against the crowding out of private consumption and investment due to excessive military spending and ensure to increase military expenditure on the premise of sustainable economic development.


2020 ◽  
Vol 58 (2) ◽  
pp. 149-170
Author(s):  
Goran Milovanović ◽  
Sandra Milanović ◽  
Goran Radisavljević

AbstractThe paper aims to analyse structural changes in foreign trade based on systematic statistical data as a factor of competitiveness of the Republic of Serbia. First, contemporary tendencies in international trade are analysed, where the value and volume of world trade are monitored, as well as key changes in the structure of world exports and imports in the observed period. By assessing the position of the Republic of Serbia in international trade, it is necessary to consider the extent to which the foreign trade of the Republic of Serbia adapts to the structural changes in world trade. Then, the structure of the merchandise exchange of the Republic of Serbia according to the purpose of the product is examined as well as the structure of the merchandise exchange according to sectors and commodity groups. Later in the paper, the achieved development of the industry is questioned, where the focus of the analysis is put on the quality of exports and the international competitiveness of the manufacturing industry, which in the Republic of Serbia produces most of the exchangeable goods. The last part of the paper deals with the analysis of the technological structure and factor intensity of Serbian goods exports. In this way, the research question is answered that there is a need for structural changes in production and foreign trade in the Republic of Serbia in order to improve its competitiveness.


2020 ◽  
Vol 17 (1) ◽  
pp. 116-125
Author(s):  
Indrė Lapinskaitė ◽  
Silvija Vidžiūnaitė

AbstractResearch purpose. The importance of sustainable development, the need to achieve sustainable economic development that does not harm the environment, conserve natural resources or exacerbate tensions in society has been increasingly discussed over the last decade. The purpose of the research is to evaluate the economic growth and decent work environment in G20 countries during 2013–2018 as G20 countries are the fastest growing countries in the world, and their economy describes the major part of the global economy.Design/Methodology/Approach. Qualitative data analysis based on the comparative analysis of scientific literature, content analysis, interpretation, comparison and grouping is used, in order to analyse the theoretical aspects of sustainable development and its goals, especially goal 8: decent work and economic growth. TOPSIS method helps to rank G20 countries according to the indicators of SDG 8.Findings. The results showed that Japan reached the best work environment and the most significant economic growth during 2013–2018. The United States is in second place and the third – the Republic of Korea. In the bottom three are Argentina, Brazil and South Africa.Originality/Value/Practical implications. Since it is challenging to identify the achievements of the economic and work environment development, as an essential part of sustainable development goals, the results could lead to future insights that will create value to policymakers, economists and other stakeholders.


Author(s):  
Jelena Stanojević ◽  
Bojan Krstić

The high level of interconnection between economic sectors, respectively agriculture, manufacturing and the service sector, imposes the need to understand intersectoral structural changes and transfer of resources between sectors in order to perceive their contribution to economic development. Based on the rich information base compiled by data from various national and international statistic sources, intersectoral structural changes in the Republic of Serbia as one of the transition economies are analysed from different aspects. The paper deals primarily with the share of economic sectors in the gross domestic product. Further, it points to the participation of economic sectors in overall employment, but also in international trade. The research goal is to analyze the structural changes in the Serbian economy, identify the direction of resource transfer between sectors, as well as their contribution to the economic development measured by different indicators.


Author(s):  
A. T. Abdikarimova ◽  
G. B. Aimagambetova

The fundamental structural transformations that have taken place in the country's economy have led to a deterioration in the quality of the economic system and increased dependence of the national economy on the conjuncture of world markets. Our previous research was concerned with determining what triggered the change in the structure of the economy, how effective the changes were, and what changes in sector proportions they led to. In this article, we tried to analyze whether we are facing the consequences of the "Dutch disease", which led to structural transformations in the economy.The purpose of the study is to confirm our assumption that the economy of the Republic of Kazakhstan is subject to the "Dutch disease".Methodology of the study. The authors relied on the cointegration analysis of time series using the Engle-Granger tests, the analysis of the stationarity of the Dickey-Fuller methods in order to determine cointegration, to assess the degree of interrelation between the values of mining and manufacturing production volumes on GDP indicators, as evidence of the presence of "Dutch disease".Originality / value of the research. The originality and value of the study lies on the fact that the authors tried to analyze the economy for the presence of "Dutch disease" in the economy of Kazakhstan using time series analysis methods.Findings. There is an assumption that the economy of Kazakhstan has certain symptoms and signs of the "Dutch disease", but it is not possible to say unequivocally that it was the main catalyst for structural changes, due to the fact that we could not prove the existence of a negative relationship between the growth rates of the mining industry and the manufacturing industry.


2019 ◽  
Vol 110 ◽  
pp. 01027
Author(s):  
Pavel Druzhinin ◽  
Galina Shkiperova ◽  
Olga Potasheva

The paper deals with the problems of environmental economics and discusses the impact of economic development on the environment in the Republic of Karelia and its municipalities using the example of point-source pollutant emissions. The models are built, the calculations are carried out to explain the improvement of an ecological situation with a growth of economy. It is shown that environmental performance in the Republic of Karelia and its municipalities is continuously improving, although the level of pollution per unit of output in municipalities varies greatly. The factors that determine the dynamics of pollution almost coincide, but the extent of their influence is different. The study made it possible to explain the improvement of ecological indicators with economic growth, to identify the factors leading to the improvement of the environment. Structural changes of economic development are important for Petrozavodsk, and investments in environmental protection are important for industrial centres. The growth of investments in active modernization of economy was the most important for all municipalities.


2020 ◽  
Vol 12 (5) ◽  
pp. 2072 ◽  
Author(s):  
Inna Gryshova ◽  
Mykola Kyzym ◽  
Viktoriia Khaustova ◽  
Volodymyr Korneev ◽  
Hennadii Kramarev

The article proves that despite a significant growth in the service sector in recent years, industry remains the main engine of economic growth. Moreover, using the analysis of statistical data, it is shown that the development of industrial complexes of countries of the world is accompanied by corresponding structural changes, which in turn determines their economic development in general. The study aims to solve the following issues: which structure of the national industry can be considered progressive under modern conditions, i.e., can lead to progress and sustainable socio-economic growth; whether there is a correlation between the progressive structure of the country’s industry and its economic development and the quality of life of its population; how the approach of the country’s industrial structure to its progressive state influences the country’s economic development and quality of life of its population. The purpose of the study is to justify or refute the hypothesis about influence of progressiveness of the industrial structure on sustainable economic development and quality of life of the population. The main methods used in the study are cluster analysis and integral assessment. The statistical basis of the study is the data on inter-branch balances for 36 countries of the world for 2009, 2011 and 2014. The results obtained in the study allowed confirming the hypothesis about the positive influence of approach of the industrial structure of countries of the world to its progressive state on the sustainable economic development and quality of life of their population. This conclusion can be considered as the basis for forming the state policy of the world’s countries to develop their economies and improve the quality of life of their population.


2013 ◽  
Vol 2 (4) ◽  
pp. 6
Author(s):  
Aleksandar Nikolovski

Sustainable development represents a civilization challenge that should meet the needs of today’s generations without jeopardizing the ability of the Earth to meet the needs of the future generations. This challenge, as an evolutionary process in which the social and economic development and the environment protection are independent, but mutual complementary components demands the solving of several issuesThe vision of sustainable economic development is based on the historical, cultural and political development of the countries. There is no unique way of sustainable development for different countries and therefore they cannot be made in the same way.The transition toward sustainable development represents a social choice that connects the global vision of the local needs and goals. The citizens must participate in the process of sustainable development. They must recognize the role they have in creating problems and finding solutions.In order to gain a general frame for the assessment of sustainable economic development  it is necessary to integrate several methodologies  and approaches toward the possible future generations for a quality and healthy life.One of the ways of assessing the results from the policies and the activities is the use of the principles and indicators according to which it is determined how much the countries work on sustainable development. Part of the indicators are generally accepted, and part are in a modeling phase. A systematic approach is necessary to see whether all indicators are necessary, and which of them are necessary for the assessment of sustainability. The economists do not have problems in executing the objective and quantitative indicators. The sociologists are facing many problems in the execution of indicators because of the immateriality of the life quality. However, the environment experts see problems when they are limited in the execution of indicators.Sustainable development is much more than a mutual connection  between the economy, the law and the ecology in establishing relations between the indicators of sustainable development  and the economic  development  are the basis for creating conceptual link  between the  different approaches toward sustainable economic development.The aim of this paper is the implementation of today’s relevant experiences, practices and theoretical knowledge expressed through the changes that are reflected in the life in the Republic of  Macedonia:• Protection of natural resources• Sustainable production and consumption• Sustainable sources of energy and• Following and reporting about the conditions, supported by the following indica-tors:• Level of citizens’ involvement in the social activities• Number of companies that have an ecological strategy• Number of people involved in the planning process• Number local communities in the Republic of Macedonia, which are eco-logically oriented• Number of shops that sale home food and organically developed food• Number of companies for organic production• Renewable sources of energy in the Republic of Macedonia• The level of nitrogen dioxide in the atmosphere The elaboration of the final material will go through the following principles: Participation of local citizens. Key segment of the implementation of the Agenda 21; Short-term plans that support the municipalities that environmentally oriented; Local production, which is forced whenever possible;The oil, coal, gas, water should be saved and renewable sources of energ y should be used instead.


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