This article investigates the impact of institutional variables on economic activity (GDP) in 19 Central and Eastern Europe (CEE) countries, covering the period 1999–2016. We utilise Principal Component Analysis (PCA) to construct a hybrid measure of economic freedom, and the Random Effect model to estimate the causalities. The analysis shows that many CEE countries have improved their institutional setting, especially the control of corruption. The regression results indicate that the control of corruption and democracy have a positive and significant impact on the GDP. Also, political stability promotes growth, while the quality of regulation is statistically insignificant. Finally, the rule of law and economic freedom accelerate economic growth. Overall, the legal framework, political stability and economic freedom shape the economic reality in the CEE region. We conclude that institutions matter for growth in the CEE countries.
Starting from the fact that perceptions of employees might be related to national culture and our previous finding that CSR perception by employees depends on company ownership, in the present research, we aim at the investigation of relations between CSR and national culture perception by employees’ dependence on company ownership in the specific context of Serbia as a developing post-socialist country. Questionnaire-based research was conducted among employees in public and private companies in Serbia with domestic and foreign ownership. The results pointed out that both CSR and national culture perceptions are highly dependent on company ownership with the dependence of CSR perception on national culture perception by employees in public but not private companies. The obtained results point out that in private companies, excessive adoption of managerial practices not aligned with national culture resulted in shifts in perception of national culture, as well as in divergence between national culture and perceptions of CSR activities.
The purpose of this paper is to consider role of branding agricultural products in better market valorization. The benefit of branding is especially significant for rural and insufficiently developed environment. The problems of rural environments are multidimensional, but revitalization and improvement of development leads to strengthening competitiveness of these areas. The higher price of products enables the increase of income of agricultural workers, as well as diversification of the rural economy and creation of conditions of better socioeconomic aspects in rural environments. Creation of a more desirable image of an agricultural product most often has a strong reflection on the area of origin, as well as on reformation of the social attitude towards that environment. Branded products and services have a higher market value, due to which legal aspects enabling not only branding, but maintenance of a brand as well, are of special significance.
Exchange of the drought and precipitations due to climate changes is preventing higher agrarian output. Although modern technology and methods of farm production may be the answer to this question, these raise public concerns about employment and environment quality. Because of demographic and technological lagging, some countries face other problems of achieving agronomic sustainability. In this paper, the importance of sustainable agriculture development, legal bases and some aspects of agricultural social responsibility are explored. Comparative and logical deduction methods of reviewing the selected international and national documents and literature were employed. Authors conclude there are adequate legal frameworks for agricultural social responsibility and the discussion if agriculture's moral priorities affect its economic performance will never end.
The disappearance of natural resources, development of environmental awareness and need to rationalize their spending, and in order to reduce the cost of energy production, caused an increasing need for the development and use of renewable energy sources (RES).Larger use of RES would provide energy security and lower energy imports. Of all forms of RES in R. Serbia, the biomass energy potential comes first. There has been considered legal framework relevant to the use of RES at the European level and within the boundaries of the R. Serbia. The authors point to the need for further harmonization of domestic legislation with global and European trends in the field of RES, as well as obligations from ratified international documents and the European integration process. The article also shows the potential of RES in agriculture as well as the actual state of exploitability in R. Serbia. Increasing the use of RES in R. Serbia can help diversify Serbian's energy supply, create growth and jobs, and lower greenhouse gas emissions.
The dynamic development of the global economy and trade is additionally connected with the exponential development of digital technologies. The progressive development of information technologies, as a segment of the information society, has influenced the changes in the traditional ways of performing economic activities. Global trends in the digital economy, which has equal importance in the domestic and foreign economic markets, require that countries adapt their legislation to the needs of the new way of functioning of the economy and economic relations in general. When it comes to digital economy, it is viewed on a par with the information society. The necessity of the existence and development of the digital economy is cohesively connected with the state of the information society in one economic space. In this domain, the digital economy relies on the degree of development of the information society of a market, since its progressive development is previously determined by the degree of development of the information society itself. Today, this parallel has been scientifically and professionally verified, and the development of the digital economy of a society is interdependent with the development of the information society. Given that this is a socio-economic phenomenon, the level of development of the information society, and consequently the digital economy, is in one segment pre-determined by the legislative framework governing the area. The subject of the research is the analysis of relevant issues in the context of the connection between the digital economy and the information society on the one hand and the legislative framework that regulates particular issues of interest in this area. The aim of the research is to define the application of the approach to the legal regulation of relevant issues in the field of digital economy from the aspect of the internal law of the Republic of Serbia.