Year 2023, Issue 3

Date published

28.9.2023

Table of content

  • Nikola Vujanović, Miloš Pavlović
    SMALL AND MEDIUM SIZED ENTERPRISES MANAGEMENT AND BUSINESS IN CRISIS CONDITIONS
    Summary: Background: This study examines the management of small and medium-sized enterprises (SMEs) in crisis conditions, with a focus on the impact of the COVID-19 pandemic. It aims to identify strategies and best practices for enhancing... Background: This study examines the management of small and medium-sized enterprises (SMEs) in crisis conditions, with a focus on the impact of the COVID-19 pandemic. It aims to identify strategies and best practices for enhancing SME resilience and sustainability. Methods: The research adopts a comprehensive literature review approach, analyzing previous studies and reports on SME management during crises. It also incorporates case studies and empirical data to provide practical insights. Results: The analysis reveals that SMEs face unique challenges during crises, such as disrupted supply chains, reduced consumer demand, and financial constraints. However, innovative solutions, collaboration among stake-holders, and supportive government policies have played a crucial role in enabling SMEs to adapt and recover. Conclusions: Based on the findings, it is evident that effective manage-ment practices, including adaptation, digital transformation, financial manage-ment, and crisis planning, are vital for SME survival and growth in crisis conditions. Collaboration and networking among SMEs, along with supportive government policies, contribute to collective recovery and sustainability. The study underscores the importance of ongoing research and development in SME crisis management, with a focus on resilience-building strategies, sustainable business models, and addressing the psychological well-being of SME stakeholders.
  • Živorad Gligorijević, Petar Veselinović, Aleksandar Manasijević
    ECONOMIC THEORY AND POLITICS OF REGIONAL DEVELOPMENT: ONE VIEW OF THE ORIGIN AND TRANSFORMATION
    Summary: Economic development, as the original (natural) aspiration and primordial need of every individual, as well as society as a whole, has its own regional aspect in addition to the national one, which, under the influence of numerous... Economic development, as the original (natural) aspiration and primordial need of every individual, as well as society as a whole, has its own regional aspect in addition to the national one, which, under the influence of numerous factors, always takes place and is realized as an uneven development. The unevenness of regional development is, therefore, constant, that is, its existence represents a general legality. In conditions where development takes place as a spontaneous and not as a socially directed process, unevenness leads to the appearance of large regional differences. That is why there is a permanent need to study regional development, and this need is becoming more and more relevant every day. This is, first of all, the result of the fact that during many years of research it has been confirmed that regional development, due to its importance and impact on overall socio-economic flows, quite justifiably represents one of the central areas of interest of economic science. In addition, the topicality of the study of regional development is growing as a result of the emergence and presence of large regional differences in the economic reality of many countries, regardless of their level of development. Over time, in accordance with changes in the global environment, socio-political, and on that basis, economic systems, the way of observing and understanding regional development has also changed. Starting from the above-mentioned positions, the goal of the research is to, based on relevant theoretical knowledge, look at the origin and development trends of the theory and policy of regional development.
  • Momchil Antov
    THE NEW EUROPEAN CUSTOMS REFORM OPPORTUNITIES AND CHALLENGES
    JEL: M49
    Summary: The customs system of the EU serves as a guardian of the single market, but in recent years, it has been subjected to increased stress due to the rapid growth in trade volume, challenges posed by e-commerce, and the growing number... The customs system of the EU serves as a guardian of the single market, but in recent years, it has been subjected to increased stress due to the rapid growth in trade volume, challenges posed by e-commerce, and the growing number of standards regarding goods that need to be tracked at the borders. As a result, in early May 2023, the European Commission proposed a reform project aimed at simplifying the customs procedures by reducing bureaucracy and increasing transparency while simultaneously strengthening the protection of the EU's financial and non-financial interests. The changes can be described as revolutionary or even too ambitious, but if successful, the reform would mark the beginning of a new approach to customs control without parallel on a global scale. Every change brings new opportunities, but it can also give rise to a range of problems. In this regard, it is important to be well-prepared to maximize the benefits of the former and adequately respond to and even prevent the latter.
  • Petko Angelov, MARGARITA MIHAYLOVA
    METHODOLOGICAL ASPECTS OF TEACHING CIRCULAR ECONOMY
    Summary: Circular economy is a new area of academic knowledge, which requires the development of both new learning content and elaboration of the methodology used in teaching the subject matter. This paper supports the view that the... Circular economy is a new area of academic knowledge, which requires the development of both new learning content and elaboration of the methodology used in teaching the subject matter. This paper supports the view that the educational process comprises several key components that work together to facilitate effective teaching and learning. These components may vary depending on the broader context and the specific objectives and approaches used. Thus, when planning the circular economy teaching process, it is essential to formulate what we want to achieve (learning objectives) in the specific context of the subject taught. On this basis, the paper aims to present in a discussion plan the main components of the methodology for academic teaching on the problems of the circular economy.
  • Veniamin Todorov
    STABILIZATION ROLE OF THE MACROECONOMIC POLICY DURING THE COVID-19 CRISIS
    Summary: The article presents an analysis of the role of macroeconomic stabilization policy during the economic crisis caused by the COVID-19 pandemic. The analysis covers both monetary and fiscal policy using data on macroeconomic activity,... The article presents an analysis of the role of macroeconomic stabilization policy during the economic crisis caused by the COVID-19 pandemic. The analysis covers both monetary and fiscal policy using data on macroeconomic activity, inflation, the severity of restrictive measures, the level of uncertainty, the degree of financial stress on the financial system, etc. It tests two hypotheses formulated as follows: Hypothesis one is that considering the specific characteristics of the COVID-19 exogenous shock, there was a need for a quick and decisive response by means of a macroeconomic stabilization policy. The second hypothesis asserts that expansionary macroeconomic policies played a key role for the recovery of the economies from the COVID-19 recession and their subsequent growth. Both hypotheses are confirmed.