Economic instrument used in the filed of environmental protection in the Republic of Serbia

Abstract

In order for the processes of environment protection and improvement in the Republic of Serbia to be more efficient, certain financial investments are necessary. After an introductory overview, the aim of the research was presented, which is to show correlation between costs and tax revenues in the field of environmental protection. The linear regression model and Pearson's correlation coefficient were used for the analyses. The paper presents economic instruments in the field of environmental protection for the period 2009-2018. Data obtained from the National Statistical Office were used. The state of the environment, as well as the goals related to European integration with the opening of Chapter 27, show that the presented data relating to the environment in the Republic of Serbia are very worrying and represent one of the key problems for policy implementation. The obtained results showed that there is a significant degree of correlation (r = 0.887). The current situation indicates that special attention should be paid to this topic, especially in terms of finding mechanisms for providing the necessary financial funds.