Article Abrstract:

Ovaj rad, koji predstavlja uvodno poglavlje u mojoj predstoje?oj knjizi Strategija monetarne politike (Monetary Policy Strategy) MIT Pressa, sumira kako se razvijala akademska misao i misao centralnih banaka o strategiji monetarne politike. Pokazuje da su šest ideja koje sada prihvataju monetarni organi i vlade u skoro svim zemljama sveta dovele do unapre?enog monetarnog poslovanja: 1) nema dugoro?nog "trade-off"-a izme?u outputa (zaposlenosti) i inflacije; 2) o?ekivanja su od osnovne važnosti za ishode monetarne politike 3) inflacija ima visoke troškove; 4) monetarna politika podleže problemu vremenske nedoslednosti; 5) nezavisnost centralnih banaka pomaže u unapre?enju efikasnosti monetarne politike i 6) snažno nominalno sidro je klju?ni faktor za stvaranje dobrih ishoda monetarne politike.

Article Abrstract:

Inflation targeting represents monetary regime primarily applied in New Zealand in 1989. Since then, this regime has extended into over 30 countries and it is recommended by International Monetary Fund within its business arrangements in last couple of years. The last country that announced this regime was Serbia. It is regularly introduced when previous one had poor performances. Its nature is determined by targeted inflation rate, high level of transparency in monetary policies conducting, absence of secondary goals as well as responsibility for realized targeted inflation rates. Within work theoretical presumptions are analyzed regarding implementation of this regime, and the most important aspects of its functioning in chosen countries, and its application in Serbia is a subject of particular consideration.

Article Abrstract:

Recently Claus Offe has put the question that concerns the fate of the European model of social capitalism: Can the model of social capitalism survive the European integration in the context of certain contemporary tendencies? Offe has presupposed that the mentioned model is challenged by the processes of globalization and the integration of the post socialist countries into the European Union. The working hypothesis of the article is that there is an opportunity to provide a coherent answer to this question. The article consists of two parts. In the first part the author starts with the Polanyi's socio-economic theory and emphasizes the importance of this approach for the analyzing of the tendencies of capitalism in Western Europe and in the post socialist countries. The author argues that with the Polanyi's theory we are able to explicate the forms of the embedded liberalism in Western Europe after 1945 and the orientation of non-embedded neo-liberalism and the functioning of the workfare state after the crisis of the Keynesian welfare state. Despite the tendencies of the globalization projected by neo-liberalism, the central element of the social capitalism namely, the welfare state, remains with the dimensions of the continuity. In the next part the author points out that there is an asymmetrical structure between the Western-Europe and non-Western part of Europe concerning the socialization of capitalism. The neoliberalisation in accordance with the model of the transfer of ideal-type of capitalism is more strongly implemented in the countries of transition. In addition, the mentioned theoretical approach provides opportunities to explain the failures of implementing of neo-liberalism in the post socialist countries. On the basis of the endorsing of the socio-economic aspects we can address the issue pointed out by Offe.

Article Abrstract:

For the last decade, the employment structure is one of the fastest changing areas of Eastern Europe. This paper explores the best methodology to compare the employment situations in the countries of this region. Multivariate statistical analyses are very reliable in portraying the full picture of the problem. Principal components analysis is one of the simplest multivariate methods. It can produce very useful information about Eastern European employment in a very easy and understandable way.

Article Abrstract:

The positive and the negative macroeconomic aspects of the financial liberalization for the developing and emerging economies are well described in the present literature. But it is not easy to clearly summarize the final effects of the financial integration on the certain country. For instance the argument about the growth benefits of the capital account liberalization is likely to be inadequate considering the financial crises in the emerging markets at the end of the last century. On the other hand, many authors (especially in the financial literature) report that the equity market liberalizations help to significantly boost the economic growth. There are also some examples on the microeconomic level (firm level or industry level) when the international financial integration brings certain benefits to the integrated enterprises and the capital flows restriction leads to the distortionary effects. In the paper we analyze the macroeconomic effects of the capital flows liberalization.

Article Abrstract:

Agriculture posed considerable tensions for the processes of enlargement of the European Union, because of its continuing importance both in the economies of the applicant countries of Central and Eastern European countries which have joined EU on the 1st may 2004., and in the EU budget and acquits communautaire. The preparation of agriculture in the candidate countries to join the EU was rendered more complex by the fact that the Community's Common Agricultural Policy was a moving target. The aim of this paper is to show the bases elements of the Common Agricultural Policy, but also to provide a survey of recent developments relating to agriculture in the EU and new member states of the EU before their accession to EU and their preparation to access on the enlarged market, in order to indicate the main challenges and difficulties posed by enlargement. It seems likely that agricultural policy in the enlarged EU will attach increased priority to objectives such as rural development and the environment. However, these new priorities may be expensive to realize, and may impose a growing burden on the national budgets of EU member states.

Article Abrstract:

Protection of the environment was not a specific importance to the Community although the Treaty of Rome expressly specified that "health, safety environmental protection" shall be based on "a high level of protection". In deciding upon a framework for a European environmental policy, the Community was also responding to increased public awareness of the problem and concerns about the state of the natural and man-made environment. During the past years, competitiveness concerns have dominated the EU policy debate, in the course of which a growing consensus is being developed on the importance of eco-innovations and resource efficiency for EU competitiveness and on the market opportunities they offer. There is an increasing evidence that environmental policy and eco-innovations can promote economic growth, as well as maintain and create jobs, contributing both to competitiveness and employment. Environmental constraints to rapid economic growth are increasingly recognized by countries, leading to a rising awareness of the need for sustainable development. Implementation of an environmental policy however, generates significant implications for competition among countries.

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