Foreign direct investments (FDIs) have extraordinary importance for the development of the country, contributing to the higher level of its competitiveness. Some transition economies were focused on ...FDIs attraction, selecting banking sector as one to the most propulsive targets. Using empirical evidence on FDIs in Serbian banking sector during XXI century through granular analysis by differentiation between greenfield and brownfield investments, this paper pinpoints on major movements and perspectives of development. Also, beside the FDIs aspect, which is the central point of the paper, this paper summarize the major regulatory changes in accordance with Basel III standards aimed to increase the credibility of Serbian banking sector.
Slovakia's accession to the EU provided a positive impulse for further economic development, describing the main indicators of the business environment, including the analysis of the general ...macroeconomic environment, GDP and the labor market. The Slovak Republic focuses on current trends regarding the issue of shortages of skilled labor and employment of foreigners. The most important tasks that the Slovak Government must provide in Slovakia are sustainable economic growth combined with job creation and improving business conditions. Foreign direct investment and corporate sector are major factors that will initiate growth of the economy and employment in Slovakia. New investments also mean modernization of production, new technologies, creating new jobs and progress of the economy. This paper puts a special emphasis on the benefits of the fourth industrial revolution, impersonated in the automation and digitalization of processes and continuous innovations, which resulted in the economic growth and development in Slovak Republic.
Emotional exhaustion has become a ubiquitous phenomenon in the banking sector. In this paper, empirical research was conducted using a specially designed questionnaire with the aim of assessing the ...emotional exhaustion of employees in the banking sector in Serbia in relation to their gender, length of work in the bank and contact with clients. During 2022, responses were collected from 136 respondents. In the data processing, non-parametric tests (Mann-Whitney U-test and Kruskal-Wallis H-test) were applied. The research results showed that the feeling of emotional exhaustion is more prevalent and frequent among men, compared to women, but that these differences are not statistically significant. Also, the research results indicated statistically significant differences in respondents' answers to the statements related to the feeling of tiredness and the feeling that they work too much, depending on the length of work in banks. Statistically significant differences exist in the answers of respondents who have contact with clients at their job and those who do not.
With the growth of technical and technological modernity, it comes to growth of environmental protection. Degree of pollution is not determined by standards and norms that government proposes in the ...means of allowance, but the number of issuers. Government with the limit of imperfection of market defines optimum strategy of internalization of external expenses. What level of pollution will prove to be economically sustainable depends on expected social benefits, and also from current and future expenses for cleaning the environment from inherited and current consequences of pollution. The author's research proves that in the means of preference for ecological technology, regardless of starting price of investment, if all the conditions of quality and competition of self products are fulfilled, results show dominance in comparison to 'traditional-classical technologies'. With every technical and technological change it is easier and more efficient to incorporate ecological requests in it. In this research we started from the assumption that sustainable development means transition from classical market economy to ecological economy, because market driven economy encourages irrational expenditure of resources, considering natural goods limitless.
At the beginning of the XXI century, Serbia entered into transition process toward open market economy. One of the segments which should be developed in accordance with market economy principles was ...financial markets, more precisely capital market. Recovery of the Belgrade Stock Exchange and increasing trend in the first half of the XXI century gave optimism in prospective development of the Serbian capital market. Unfortunately, Serbian capital market did not make expected progress. In this paper, the situation on the Belgrade Stock Exchange is analyzed, trading with equity and debt instruments, emphasizing deficiencies which caused insufficient level of development of the Serbian capital market. As many opportunities for growth have been missed and capital markets are at the stagnant level for years, there are new, sophisticated products which could give an impulse to further development of financial markets. An example of such products is covered bonds, type of debt instruments with widespread use in the European Union. In this paper the main characteristics of those products are elaborated with experiences in other countries that could be very useful for Serbia.
In 2000 the Basle Committee on the Global Financial System defined stress testing as 'a generic term describing various techniques used by financial firms to gauge their potential vulnerability to ...exceptional but plausible events'. Exceptional events refer to one-off or recurring events with far-reaching consequences for the concerned financial institution and the financial sector s stability overall. Such unexpected (exceptional) events include, for instance: bankruptcy in Argentina in 2001, stock markets collapse ('Black Monday') on 19 October 1987, or the fall of the energy giant Enron in 2001. The adoption of the new Basle Accord (better known as Basle II) in 2001 envisaged the implementation of stress tests for the identification of events and future changes in economic circumstances that could cause some unfavorable effects on banks' credit exposure, along with the assessment of banks' ability to survive in the new circumstances. Negative experiences from the past, having undermined the stability of financial systems worldwide, made a decisive impact on regulators at all levels to additionally consider the issue of increasing the financial system's resistance to the occurrence of unexpected - exceptional events. To this end, the introduction of stress tests was the turning point in the process of increased banking systems' resistance to shocks. This paper primarily deals with stress testing methodology and bank risk measurement techniques, along with the main results of conducted tests, directly impacting the entire financial system.
The accession of Serbia to the European Union should bring stability, peace, justice, freedom and security to the Balkans. In this regard, strengthening the competitiveness of the country’s economy ...in order to improve its ability to withstand the pressure of the competition in the single market and reduce unemployment through job creation is the most important objective of Serbia’s economic policy. The purpose of the paper is to provide a short overview of the achieved results in terms of foreign direct investments in Serbia and to determine them as a crucial factor in increasing the country’s competitiveness. The paper stresses expectations that the outcome of negotiations with the EU will improve the investment plans in Serbia and, consequently, create conditions for a stable financial and macroeconomic environment. Also, the paper analyses cooperation with the most prominent European Union member states in the field of foreign direct investments and emphasises the financial sector, the trade and tourism sector and the telecommunication sector as the most attractive industries for EU member states. EU companies have invested almost three quarters of the cumulative FDI inflows to Serbia over the past 8 years, amounting to over EUR 11 billion in total. The European countries that have invested most in the Republic of Serbia are Austria, Norway and the Netherlands. Other big investors to Serbia are Russia (9% of the cumulative FDI inflows), Switzerland (6%), United Arab Emirates, China and USA (2% of the cumulative FDI inflows each). By investigating the open investment regime in the European Union, which is a basis for the development of economic relations and removal of barriers, the authors of the article present relevant measures in Serbia, which are acceptable to EU member states and define opportunities for job creation and increases in productivity of industries in Serbia. To promote exports and the inflow of foreign direct investments, the Serbian government has established such institutional mechanisms as the Development Agency of Serbia (RAS - SIEPA); the Export Credit and Insurance Agency of the Republic of Serbia; the Serbian Agency for the Development of Small and Medium-sized Enterprises and Entrepreneurship; the Development Fund of the Republic of Serbia; the European Agency for Reconstruction; the Free Zones Administration. The authors pay special attention to the case of the Serbian banking industry, which is a perfect example of the industry developed due to a significant amount of foreign direct investments. The banking sector is one of the most prospective sectors for foreign investors in Serbia, which was especially observed during the period of 2004-2011. As of 31 December 2016, 22 out of the 30 banks in Serbia are owned by foreign legal entities, which is a result of foreign direct investments in the Serbian banking sector and consolidation processes. Investments in the Serbian banking industry were implemented through 2 simultaneous and parallel channels: brown-field and green-field investments. Firstly, large investments in banking were recorded as green-field investment and that was mainly due to the entrance of banks/banking groups, such as Procredit (Germany), Raiffeisenbank (Austria), HVB (Austria), Alpha Bank (Greece) and National Bank of Greece (Greece) together with Societe Generale Bank (France), into the Serbian market. Starting from 2002, there has been a lot of room for an increase of the market share of foreign banks in Serbia interested in the privatisation of Serbian banks or public ownership objects. Those banks were mostly presented by the European Union banks which operate in the region, for example: Hypo-Alpe-Adria Bank (Austria), Eurobank (Greece), Erste Bank (Austria) and OTP Bank (Hungary). Over time, the strong difference between green-field and brown-field investments in banking erased, as far as some of the banks which entered the Serbian market through green-field investments were active participants in the process of acquisition or privatisation of the former Serbian banks. Finally, this paper deals with future progress of the Serbian economy, based on the achieved results regarding foreign direct investment incentives. In other words, the improvement and stabilisation of Serbia’s credit rating and cooperation with relevant international financial institutions, such as the IMF and the EBRD, will result in a better image of Serbia. Consequently, the sustainable development of the Serbian economy, which could provide the continuity and presence of the country in respectable markets of the EU, can be achieved due to inflows of foreign direct investments, especially in industries such as the financial industry and the telecommunication industry.
Beer and beer industry in Slovakia Dudić, Branislav; Dudić, Zdenka; Smoleň, Ján ...
Ekonomika poljoprivrede (1979),
2018, Volume:
65, Issue:
1
Journal Article
Peer reviewed
Open access
Tradition of beer industry in Slovakia takes origin in 19th century, when production of beer primarily appeared in this country. Slovaks love beer, which is confirmed by gradually increasing number ...of beer producing facilities. Production of beer has significant impact on development of Slovak economy, direct foreign investments, creation of new jobs, technology modernization etc. There are also many significant multinational corporations operating in Slovakia such as Heineken International, Topvar, Steiner and others. Significant revolution is going on also in the sector of small independent craftbreweries in Slovakia. The objective of this paper is to emphasize the importance and impact of beer industry on Slovakian economy and to analyze advantages and disadvantages of the sector in this area.
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CEKLJ, NUK, ODKLJ, UL, UM, UPUK
At the beginning of the XXI century, Serbia entered into transition process toward open market economy. One of the segments which should be developed in accordance with market economy principles was ...financial markets, more precisely capital market. Recovery of the Belgrade Stock Exchange and increasing trend in the first half of the XXI century gave optimism in prospective development of the Serbian capital market. Unfortunately, Serbian capital market did not make expected progress. In this paper, the situation on the Belgrade Stock Exchange is analyzed, trading with equity and debt instruments, emphasizing deficiencies which caused insufficient level of development of the Serbian capital market. As many opportunities for growth have been missed and capital markets are at the stagnant level for years, there are new, sophisticated products which could give an impulse to further development of financial markets. An example of such products is covered bonds, type of debt instruments with widespread use in the European Union. In this paper the main characteristics of those products are elaborated with experiences in other countries that could be very useful for Serbia.
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