Editorial 2012 (2)

Number 2 Volume 14 of the Economic Horizons scientific journal has a thematic character. It encompasses the double-blind reviewed, revised versions of the manuscripts preliminarily presented at the Scientific Meeting: The Institutional Changes as a Determinant of the Serbian Economy Development in 2012, which was organized by the Faculty of Economics, University of Kragujevac, and the Association of Economists of Serbia, and held at the Faculty on the 6th April 2012. The important theoretical, methodological and applicative issues and problems of the complex, dynamic, ambiguous and interactive relationships between the  developed/underdeveloped institutional framework and the successful/unsuccessful functioning of the economy, with a particular focus on the implications on the Serbian economy, are identified and explored in the two original scientific and four review papers in detail and critically. The insights and findings acquired by the authors of these published papers through their own research processes can represent a scientifically grounded and practically useful basis for making creative decisions in the respective spheres of the economic policy. Also, the different issues that can be relevant for a future theoretically-methodologically valid, socially responsible and practically effective research have been highlighted.