scholarly journals CONFLICT OF STRATEGIES – BOSNIA AND HERZEGOVINA DEVELOPMENT STRATEGY AND SUPPORT STRATEGIES OF INTERNATIONAL FINANCIAL INSTITUTIONS

2021 ◽  
Vol 19 (34) ◽  
Author(s):  
Miroljub Krunić
Keyword(s):  
Economic Growth ◽  
Development Strategy ◽  
Bosnia And Herzegovina ◽  
Financial Institutions ◽  
Financial Support ◽  
International Community ◽  
The European Union ◽  
International Financial Institutions ◽  
Association Agreement ◽  
Strategic Commitment

Over the past twenty five years, Bosnia and Herzegovina has been experiencing, with more or less oscillations, low and stagnant economic growth. Planning and economic policy documents shaped the vision of rapid transition and successful economic growth, which was supposed to enable the sustainability of the economic system and its elements. The strategic commitment to integrate into the European Union system has not changed. It was confirmed by signing the Stabilization and Association Agreement in 2008. International financial institutions have even provided financial support to the economic programs in BiH and its entities to an extent greater than their capacity to use, but below the economic needs of the country as a whole. In these circumstances, the issue of a possible conflict between the economic development goals of Bosnia and Herzegovina and the objectives of financial support provided by the international community has been raised. Circumstances such as a long period of time, modest economic performance, lost opportunities and dangerous negative trends indicate the need to reconcile the conflicting strategies and interests of two parties - Bosnia and Herzegovina and the international community.

INTERACTION OF THE NATIONAL ECONOMY OF UKRAINE WITH INTERNATIONAL CREDIT AND FINANCIAL ORGANIZATIONS

2017 ◽  
Author(s):  
Serhii Voitko ◽  
◽  
Yuliia Borodinova ◽  
Keyword(s):  
Financial Institutions ◽  
National Economy ◽  
Financial Support ◽  
Global Economy ◽  
Financial Sector ◽  
Negative Consequences ◽  
International Financial Institutions ◽  
The Future ◽  
International Credit

The article examines the interaction of the national economy of Ukraine with international credit and financial organizations, evaluates the positive and negative consequences and identifies possible areas for further cooperation. The role of international credit and financial organizations in the development of the global economy is analyzed. Today, international financial institutions have taken a leading place among institutions that provide financial support and contribute to the implementation of necessary reforms aimed at developing enterprises in various sectors of the economy and strengthening the country's financial sector as a whole. The importance of cooperation between Ukraine and international financial institutions for the development of the country's economy has been determined. The problems and directions of development of cooperation with leading credit and financial organizations in modern conditions are identified. Despite the presence of certain shortcomings, cooperation between Ukraine and international credit and financial organizations will continue in the future.

scholarly journals The evolution of the international peace architecture

2021 ◽  
pp. 1-22
Author(s):  
Oliver P. Richmond
Keyword(s):  
European Union ◽  
United Nations ◽  
Financial Institutions ◽  
African Union ◽  
The European Union ◽  
International Financial Institutions ◽  
International Peace ◽  
Critical Perspective ◽  
War And Conflict ◽  
International Legal System

Abstract The theories and doctrines related to peacekeeping, mediation, peacebuilding, and statebuilding, as well as other tools used to end war and conflict, raise a range of long-standing questions about the evolution and integrity of what might be called an international peace architecture. A narrow version of this term has begun to appear in the context of peacebuilding through the United Nations, the African Union, the European Union, other regional actors, the international legal system, and the International Financial Institutions. This article proposes a much broader, historical version, with six main theoretical stages, which have, from a critical perspective, produced a substantial, though fragile, international architecture.

scholarly journals Resources of Sustainable Economic Growth and Development

2020 ◽  
Vol 12 (1) ◽  
Author(s):  
Jelena Ignjatovic
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Development Strategy ◽  
Social Inclusion ◽  
Three Dimensions ◽  
Development Economic ◽  
Gender Inequalities ◽  
The European Union ◽  
The Sustainable Development

The Sustainable Development Strategy implies a targeted long-term process that affects economic, social, environmental and institutional aspects of life. The goal is to meet the social and economic interests of citizens, reduce poverty, reduce unemployment and gender inequalities and reduce negative impacts on natural resources and the environment, resulting in long-term economic growth with economic efficiency, technology and innovation. Accordingly, in 2015, the United Nations adopted Resolution A / RES / 70/1 - Transforming our world: the 2030 Agenda for Sustainable Development, based on three dimensions of sustainable development: economic growth, social inclusion and environmental protection. At the end of the 20th century, parallel with the theory of development, which turned into the concept of sustainable development, there was globalization that integrated the entire world regions in order to gain as strong economic and financial positions as possible on the world stage. Today, Serbia is not in a position to choose whether to engage in modern globalization processes, but it must continue the initiated transitional reforms and accession to the European Union, regardless of the economic, political or environmental consequences. By implementing national policies, Serbia should aim at national and economic sovereignty, which will further influence sustainable development. Only by changing the current economic policy, by creating a national strategy based on the exploitation of domestic economic and industrial potentials, by reducing unemployment, social responsibility and individual freedom, economic growth and sustainable development can be achieved. This work, besides the introduction, consists of materials based on the presentation of the sustainable development strategy of the Republic of Serbia and also presents the results and discussion that draft the current situation with possible solutions to achieve sustainable development in the future. Finally, the final ratifications are provided.      

scholarly journals Interregional Partnership as a Background for the Sustainable Development: European Facet

2019 ◽  
Vol 8 (2) ◽  
pp. 365
Author(s):  
Inna Zablodska ◽  
Kseniia Sieriebriak ◽  
Olena Kolomytseva ◽  
Gulnara Dzhumageldiyeva ◽  
Yuliia Rohozian
Keyword(s):  
Sustainable Development ◽  
Development Strategy ◽  
Interval Estimation ◽  
Legal Regulation ◽  
European Countries ◽  
The European Union ◽  
Association Agreement ◽  
Comprehensive Development ◽  
Economic Trends ◽  
Interregional Cooperation

Interregional cooperation is a complex system of interconnected processes, which has begun to develop for a very long time and in the last five years, and has become relevant. This fact is also confirmed by the fact that the Association Agreement between Ukraine and the European Union includes a norm on the comprehensive development of interregional cooperation in the strategic perspective and, in most economic and legal issues; it relies on the experience of the European countries, such as Germany and Italy. Studying the world experience and identifying common economic and legal trends in the partnership implementation between regions could help Ukraine to introduce this process in practical terms and possibly avoid the most popular problems in this area. The sphere of interregional cooperation is not only economic sphere; it is a consolidation of the social sphere, economic and ecological, which is the embodiment of sustainable development of each region and the country as a whole. Value / originality. The research presents an analysis of interregional partnership in some European countries (Germany and Italy). The work compares the experience of interregional dispute implementation between the countries based on the strategic documents in this area that are related to sustainable development. Specific statistical and methodological examples of socio-economic development of the above-mentioned countries are presented in the process of establishing interregional ties. The comparative analysis of strategic subregion elements of interregional cooperation are presented and the results of the analysis by means of interval estimation are ranked. Recommendations on implementation the European experience in interregional cooperation for sustainable development in Ukraine are given. For the first time in Ukraine, the sphere of interregional partnership is analyzed not only in the light of the economy, but also through a comprehensive consideration of its economic and legal preconditions. It is expedient to use this approach, because it could be used for calculating not only the economic trends of the development of this sphere of cooperation, but also for paying attention to its legal regulation (due to the Association Agreement between Ukraine and the EU, in which interregional cooperation is one of the central places for sustainable development). Subsequently, based on these results, it would be possible to develop practical recommendations for the harmonization of Ukrainian legislation in accordance with EU legislation, which would include the economic mechanisms for the functioning of interregional cooperation and sustainable development in Ukraine.  Keyword Set: World experience, economic and legal foundations, interregional cooperation, development, strategy

scholarly journals The potentials for Political and Economic Development of Kosovo

2013 ◽  
Vol 3 (2) ◽  
pp. 319
Author(s):  
MSc. Ngadhnjim Brovina ◽  
MSc. Adnan Hoxha
Keyword(s):  
Economic Growth ◽  
Natural Resources ◽  
The European Union ◽  
Economic Sectors ◽  
Public Companies ◽  
Association Agreement ◽  
The Public ◽  
Political Status ◽  
Political Economic ◽  
The Eu

It is rather clear that it is mandatory to understand the potentials of growth for any economy to grow. With globalization taking place, countries in general, have intensified their political, economic and social integration. Kosovo, as the youngest state in Europe, is about to transform from a devastated economy into a developing one. It has not yet been able to tap on its natural resources and neither of its potentials for a faster economic growth. Its backbone economic sectors such as agriculture, textile, mining and metal sectors are still on their initial stages of revitalization, while the privatization of the public companies has not met its expectations.Whereas, Kosovo is doing a better job on, as its international presence and subjectivity of its political status (Independence) is strengthened. More and more countries are recognizing it as a sovereign country, while the recent initiation of the Stabilization and Association Agreement with the European Union, Kosovo is undergoing through its structural reforms and alliance with the EU standards and regulations.The future of Kosovo, like of any country, will depend on the way that its human, financial and natural resources are utilized. On this regard, this paper is an attempt to explore the potentials of the economic growth on different political contexts that Kosovo has and is expected to undergo.

International law-making in the field of sustainable development and an emerging droit commun among international financial institutions

2018 ◽  
Vol 7 (2) ◽  
pp. 327-353
Author(s):  
Johanna Aleria P Lorenzo
Keyword(s):  
Sustainable Development ◽  
International Law ◽  
Financial Institutions ◽  
International Community ◽  
Development Projects ◽  
International Financial Institutions ◽  
Race To The Bottom ◽  
The Sustainable Development ◽  
Sustainability Standards ◽  
Law Making

More than being funders of development projects, international financial institutions (IFIs) should also be viewed as international law-makers, or more specifically as participants in the international law-making process relating to sustainable development. Achievement of the Sustainable Development Goals (SDGs), as endorsed by the UN General Assembly, relies not only on the IFIs’ continued performance of their economic functions, but also on their collective efforts to set and apply standards for integrating economic, environmental and social considerations in development projects. In presenting IFIs as law-makers in the field of sustainable development, this article focuses on the ‘safeguard systems’ that IFIs have individually created in order to ensure the sustainability of the development projects they finance. Through the safeguard system and its components’ respective functions, IFIs clarify, elaborate and operationalise the concept of sustainable development, and thereby participate in the international law-making process relating to this concept. Additionally, the IFIs’ participation involves enabling other non-state actors to also participate in development decision-making at the international level. The law-making functions of IFIs and the emergence of a droit commun among them bear valuable insights and implications on the current discussion surrounding the new institutions, whose entry into the multilateral development banking system has elicited anxiety about a race to the bottom in sustainability standards. This article shows why this speculated outcome is not a foregone conclusion. It suggests that preventing a race to the bottom in sustainability standards entails strengthening one component of the safeguard system, the independent accountability mechanism, which interprets the system's other component, ie the IFIs’ environmental and social policies. The ongoing efforts to harmonise the IFIs’ safeguard policies should likewise be encouraged. As specialised international organisations and members of the international community, the IFIs (and their member states) should react to adverse competitive pressures with the overarching consideration of responding to the demands and expectations of the international community. This approach means continuing to implement the global commitment to the sustainable development principles of integration and public participation, as well as maintaining the protection of the rights and interests of people affected by development projects.

scholarly journals FREE ECONOMIC ZONES AND DEVELOPMENT OF BOSNIA AND HERZEGOVINA IN THE EUROINTEGRATION PROCESS

HERALD ◽  
2017 ◽  
Vol 8 (20) ◽  
Author(s):  
Goran Popović ◽  
Milimir Lojović ◽  
Ognjen Erić
Keyword(s):  
Bosnia And Herzegovina ◽  
Direct Investment ◽  
Technological Progress ◽  
Development Model ◽  
The European Union ◽  
Asian Countries ◽  
Association Agreement ◽  
The Common ◽  
Economic Zones ◽  
The Eu

Free zones are the way for increasing the production, export and employment. In some, globally significant economies, free zones are the factor of growth and technological progress. In Bosnia and Herzegovina, the field of free zones has appropriate legislation, but the economic results are still minor. In EU, free zones are important for economic development, especially in certain regions. The issue of free zones is being handled within the communitarian legislation, through customs' and other regulations. The regulations of the protection of competition are especially important because the privileges in zones are contrary to the rule of protection of competition in the common market. From Ruding's report and Primarolo group to the present, the Union is making efforts to harmonize these opposites. The EU has affirmed the development model of free zones opening. Bosnia and Herzegovina is at the stage of European integration, at which, in the mid-2015 Bosnia and Herzegovina came into the full implementation of the Stabilization and Association Agreement (SAA). It's appliaction will also change the circumstances in the opening of free zones and inflows of Foreign direct investment (FDI). It is realistic to expect that the EU will show low level of interest for investing into free zones in Bosnia and Herzegvina, while the interest of non-european countries, especially Asian countries, will be increased. Free zones in Bosnia and Herzegovina could become the bridge for better transfer of goods and technologies into the European Union.

scholarly journals Measuring the inclusiveness of international financing to tourism in Latin America and the Caribbean

2018 ◽  
Vol 15 (3) ◽  
pp. 15-34 ◽  
Author(s):  
Isabel Carrillo-Hidalgo ◽  
Juan Ignacio Pulido-Fernández
Keyword(s):  
Latin America ◽  
Financial Institutions ◽  
Small Businesses ◽  
Financial Support ◽  
Poverty Reduction ◽  
Economic Life ◽  
International Financial Institutions ◽  
The Caribbean ◽  
International Financing

Globally, tourism has been identified as a means of poverty reduction and development, and as a means of encouragement of females, minorities and small businesses to better engage in the mainstream of economic life. This paper examines whether the international and governmental financial support, grated by international financial institutions, is effectively achieving these aims in Latin America and the Caribbean. A series of indices are established in the paper that assess the extent to which such funding includes non-corporate enterprise while also considering the volume and nature of such funding. It is concluded that the goals of inclusiveness are not being met.

scholarly journals INSTITUTIONAL AND VALUABLE BASICS OF REFORMS IN UKRAINE: EUROPEAN CONTEXT

2018 ◽  
Vol 1 (14) ◽  
pp. 51-61
Author(s):  
Oleksii Leonidovich Valevskyi
Keyword(s):  
Economic Growth ◽  
The European Union ◽  
Negative Consequences ◽  
Association Agreement ◽  
Economic Relations ◽  
Legal Norms ◽  
European Context ◽  
Social Sphere ◽  
The Social ◽  
Institutional Traps

The institutional and value bases of the modernization path of development of Ukraine in the European context are analyzed. The reasons for systemic reforms are indicated. In particular, this is the technological backwardness and raw orientation of the Ukrainian economy, the need to ensure sustainable economic growth and the critical state of the social sphere. It is stated that the lack of systemic successful reforms and a vicious populist social policy for decades led to Ukraine becoming one of the poorest European countries. The Association Agreement between Ukraine and the European Union has become an incentive for implementing the necessary reforms and institutional changes in the economy and the social sphere. The implementation of the Agreement means for Ukraine the need to enforce the legal norms of European legislation and the creation of institutional conditions that can ensure economic growth. The institutional, psychosocial and political reasons for the inhibition of reforms are analyzed. In particular, it is proved that one of the obstacles to the success of Ukrainian reforms is the phenomenon of institutional traps. Reformers offer a new system of socio-economic relations, but post-totalitarian institutions, functioning in the old values co-ordinates, do not perceive change. Therefore, the implementation of liberal doctrines leads to negative consequences. An institutional trap is a situation where destructive values and behavior patterns become stable norms of life and make any modernization strategy ineffective. The necessity of creating new macro-political and institutional bases of the state policy of reforms in Ukraine is being proved. The main directions of formation of institutional and value aspects of reform policy are indicated.

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