Katarina Borisavljević
Igor Mladenović
The current economic crisis has affected the level of the economic activity in many sectors of the economy. Among theorists and practitioners, the construction industry, followed by all the other industries, is increasingly said to be facing a serious crisis and to encourage its recovery of the overall economy of the Republic of Serbia. For this, the construction industry is said to be able to bear half of the economic growth of Serbia. However, taking into account the above-mentioned positions, the question is what the effects of the economic crisis on this economic sector are and what the effects of the measures imposed by the previous government of the Republic of Serbia regarding this sector were. Searching for answers to this question can to a great extent profile the answer of the current government regarding the solving of the problems in the Serbian construction industry.
Lela Ristić
This paper aims to present the current level of sustainable rural development in the Republic of Serbia, the development potentials and the problems identified in this area, as well as to bring to attention the necessity of sustainable rural development modernization as a significant part of the EU accession process. The mentioned issues are examined in accordance with the specific characteristics of the rural areas in the Republic of Serbia and the generally accepted principles of sustainable development (the economic, environmental and social ones), taking into account the interests of present and future generations. The paper analyzes the necessity and possible directions of the sustainable rural development of the Republic of Serbia. In this regard, the paper points to the significant role of the official state development policy in solving the problems of rural areas by establishing appropriate priorities and specific guidelines for future sustainable rural development. The conclusion is that the comprehensive and continuous work on the revitalization and development of rural areas is essential and must be in compliance with the principles of sustainable development. It is vital that the efforts towards sustainable rural development include significant investments, education programs, initiatives and activities of all development actors at the national, regional and local levels, as well as people directly involved in agriculture and agricultural production.
Violeta Todorović
The functioning of banks in a deregulated and competitive market environment involves taking growing and complex business risks. Inadequate risk management on the part of bank managers leads to the emergence of problem banks and banking crises. Practically speaking, banking crises stand for an integral part of the development of banking systems in the modern business environment that can be characterized as complex, dynamic, heterogeneous and unpredictable. The negative effects of the bankruptcy of individual banks on the economic system require the timely establishment of adequate regulatory frameworks and undertaking interventionist measures for the rehabilitation of banking problems. The issue of managing banking crises, which has been discussed in the professional domestic and foreign literature for years, has been brought back into focus with the emergence of the global Subprime crisis. Therefore, the paper makes an attempt at a comprehensive analysis of the causes and ways of resolving banking crises. In addition to identifying the causes and substantial differences among the analyzed banking crises, the paper will review the relevance of the applied interventionist measures and the existing regulatory policies.
Darko B. Vuković
The identification and analysis of the indicators of regional competitiveness is the most important phase of the process of measuring competitiveness. However, prior to the measurements, it is necessary to determine whether there is a high correlation between the selected indicators or not. The aim of this paper is to determine whether there is a high correlation between the most important indicators of regional competitiveness or not. The subject of this paper are the indicators of competitiveness in Serbia’s regions, whose values are measured in the 2011-2013 period. For the indicators unrelated to each other or those having no logical mutual influence, no correlation was revealed. On the basis of these results, it turns out that there is a high correlation between the GDP of the region, the number of companies in the region, the number of employees, the extent of the cluster, investments in innovation and confidence in business institutions. The Pearson correlation coefficient statistical method has been used in the estimation. These data, whose measure cannot be achieved through quantitative measurement, have been obtained in the survey.
Danijela Tadić, Aleksandar Aleksić
In the last few decades, the concept of organizational resilience has been developed, and in that manner, it represents an adequate management method for enterprises operating in the conditions of the economic crisis. In this paper, the problem of organizational resilience factors prioritization (ORF) is considered, which represents the first step in the determining of improvement strategies. The ORF ranking is set up as a task of a multi-criterion optimization inclusive of qualitative variables. Management teams at the level of every company assess the relative importance of each pair of business processes and the preference of the ORF within each business process using predefined linguistic expressions. The modeling of linguistic expressions is based on the theory of fuzzy sets. The aggregated values of the considered variables are obtained by applying the fuzzy ordered weighted averaging operator. The vector of a combined ORF priority was determined by using the fuzzy Analytic Hierarchy Process. The proposed model is illustrated by an illustrative example where the used data is obtained from the process of small and medium enterprises (SMEs) operating in central Serbia. It is shown that the developed model is very suitable for making decisions on changing business strategies in order to increase organizational resilience.
Slavica P. Petrović
Issue 3 of Volume 15 of the Economic Horizons scientific journal contains three original scientific and two review papers and a book review. Also, given the fact that, within Volume 15, this issue represents the final one of the Journal, it includes the Subject Index of the papers and the List of the Authors and Titles of all the contributions published in Economic Horizons during 2013.