Katarina Borisavljević
There are numerous challenges and problems in the field of economics and management which require different theoretical and methodological responses and reactions, which further implies the development of new concepts, methodologies, methods, models and techniques. The complexity of contemporary problems in the field of economics and management can best be observed in the variety of topics taken into consideration in the papers submitted for the International Scientific Conference entitled Contemporary Issues in Economics, Business and Management (EBM 2022), which was held at the Faculty of Economics, University of Kragujevac, on 4th November 2022.
Milan Kocić, Srđan Šapić and Katarina Sofronijević
Using websites for commercial purposes has been noticeable in numerous areas in recent years, including the organic food market, among others. The era of digitalization has implied that an increasing number of consumers form their views on organic food based on information that is marketed via websites, instead of going to traditional stores. In accordance with that, the aim of the paper is to examine whether the quality of a website, measured by its usability, design and the quality of information, affects consumers’ cognitive and affective attitudes towards organic products. In this paper, exploratory factor analysis is carried out along with multiple regression analysis. The research results indicate that, in the organic food sector, it is very important to have a website which is both usable and visually appealing, simultaneously containing quality and updated information, which all can greatly influence the formation of users’ attitudes towards organic food, their attitudes being made of the rational emotional dimensions as well. The contribution of this research study is particularly significant bearing in mind the fact that attitudes towards organic food are mostly examined in a traditional environment, not so much in an online environment.
Suzana Stevanovic1, Ivan Milenkovic2 and Sladjana Paunovic3
This research study is focused on the examination of the influence of the introduction and implementation of the monetary Inflation Targeting (IT) regime: the level of the inflation rate and the Gross Domestic Product (GDP) growth rate, as well as inflation and the GDP volatility. Conditional variance is calculated by fitting an empirical Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model to an annualized quarterly date for the period from 1993Q1 to 2020Q3, all in order to assess volatility. The results of the regression model showed that there was a positive statistical significance between the instability of inflation and the instability of the growth rate of the GDP in the three analyzed countries (namely in Albania, Turkey and the Republic of Serbia). The result of introducing the IT regime when the GDP growth rate volatility is concerned is statistically significant in Serbia and Turkey and led to reduction in the GDP volatility and stabilization. However, the applied regression model indicated that, in the case of Albania and Romania, the introduction of the IT regime did not have a statistically significant impact on the GDP growth rate volatility.
Jadranka Đurović Todorović1, Marina Đorđević1 and Milica Ristić Cakić2
Although a complex taxation system can affect a company’s operations, its negative effects can be significantly greater at the macroeconomic level. Given the fact that it can make it more difficult to attract investments and collect revenue, the corporate income tax system has been the subject matter of numerous research studies for many years now. Modern business conditions initiated their frequent reforms, as well as the numerous dilemmas related to them. The paper deals with the taxpayer as an element of corporate income tax. Although numerous papers investigate the (dis)unity of tax systems in defining corporate income taxpayers, few authors examine the economic effects of these discrepancies. Also, most research studies are focused on examining the other elements of this tax form, such as the tax rate or tax incentives. In this paper, an effort is made to find a connection between the form of the organization of a business entity and the tax burden in the domain of corporate income tax. The research study aims to indicate the importance of the economic effects of this tax element and to propose its reform. The research has confirmed the initial assumption, respectively; it has shown that different forms of the organization of business entities bear different burdens of paying corporate income tax, which affects the amount of the tax revenue that could be collected. The results have shown that the sampled companies paid less tax due to corrections and adjustments in tax balances and tax returns.
Joshua Adeyemi Afolabi1, Blessing Ufuoma Olanrewaju1 and Wasiu Adekunle2
The Nigerian economy has been repeatedly hit by macroeconomic shocks, primarily owing to its over-reliance on crude oil and poor resource management. Given the limited resilience capacity of Nigeria’s economic sectors, this study examined the sensitivity of these sectors to macroeconomic shocks using the Vector Autoregression (VAR) and the Vector Error Correction (VEC) models in whose frameworks the study was carried out for the period between 2010Q1 and 2021Q4. The findings revealed the high responsiveness of the services and agricultural sectors to fiscal shocks, as well as the high sensitivity of the industrial sector to interest rate shocks. Also, the services sector was found to be more resilient to oil price shocks than the other sectors. Therefore, this study advocates for developing strategies to boost sectoral productivity and skillfully blend the fiscal and monetary policies so as to cushion the effects of macroeconomic shocks. Overall, this study provides the evidence of the sectoral effects of macroeconomic shocks in Nigeria.
Radovan Kovačević
This paper examines the impact of the selected factors on the real exports of goods and services in the several euro area (the eurozone) peripheral economies. There are five countries in the sample (Italy, Spain, Portugal, Ireland, and Greece). The time period from 2000 to 2019 is considered. The research is aimed at providing robust estimates of the long-term relationship between the real exports of these countries and the selected explanatory variables using panel data analysis. The coefficients of the cointegration export equation were estimated using the FMOLS and DOLS estimators. Using the FMOLS estimator, the estimated coefficient of the real effective exchange rate is negative (-0.80) and of the variable foreign demand is positive (2.25). The coefficient of the real effective exchange rate confirms the fact that, from the point of view of the eurozone peripheral members, the overestimated real value of the euro has a disincentive effect on their real exports. The estimated coefficient of foreign demand suggests that the real export of goods and services (volumes) of the eurozone peripheral members increases by 2.25% when the real Gross Domestic Product (GDP) of the EU increases by 1%. The real export elasticity of the eurozone periphery countries is higher for foreign demand (income elasticity) than for relative price changes (price elasticity). Reductions in wages and prices in peripheral countries have led to redistributive effects in favor of the core.
Vlatka Bilas and Sanja Franc
This paper is aimed at examining the fact whether foreign direct investment (FDI) and exports do contribute to economic growth in the thirteen European Union (EU) new member states (namely Bulgaria, Croatia, Cyprus, Czech, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia, Slovenia) during the period from 2005 to 2020 or not. Various statistical tests were performed in order to examine the relationship and causality among the three observed series, including unit-root tests, the Kao and Pedroni cointegration tests, and finally the modified causality test. The obtained results are mixed. Although cointegration was established between FDI, exports and growth, the estimation of the long-term coefficients varied to such an extent that only ambiguous conclusions about the effect of FDI and exports on the growth of the real gross domestic product (GDP) could be reached. The research results imply the fact that positive effects of FDI and exports are neither automatic nor equal in all the countries, but the same rather depend on the many factors and conditions that the governments of the selected states should consider when designing policy measures for attracting FDI and promoting exports.
Vlastimir Leković
In the Issue 3 Volume 24 Year 2022 of the Economic Horizons scientific journal, four original scientific papers and two review papers, as well as the Review of the International Scientific Conference, the Subject-Matter Index of the Papers and the Review of the Authors and Titles of all the contributions published in the Journal in the year 2022 are published.