{"title":"UNEMPLOYMENT RATE AND GDP GROWTH RATE IN SELECTED EUROPEAN COUNTRIES","authors":"A. Živković","doi":"10.31410/balkans.jetss.2022.5.2.81-92","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.2.81-92","url":null,"abstract":"GDP growth rate and unemployment rate are two crucial macroeconomic variables - their correlation is an important indicator for policymakers and it has been frequently analyzed. This research aims to analyze the GDP growth rate and unemployment rate in EU founders, Visegrad group, and Western Balkan countries and to determine if the negative correlation between these variables exists, to point to differences between developed and developing countries, and to indicate real convergence of developing countries towards developed ones. Data is analyzed on a quarterly level from Q1 2010 to Q4 2021 and the methodology of this paper consists of empirical data analysis, descriptive statistics, and panel analysis for each country group. Obtained results point to a negative correlation in all 3 country groups, but it is statistically significant only in EU founders countries, and the convergence of the Visegrad group and Western Balkan countries towards developed ones can be acknowledged.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115574164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"LEGAL CONTRIBUTION TOWARD A GREENER EUROPEAN UNION","authors":"Ana Intihar Marulc","doi":"10.31410/balkans.jetss.2022.5.1.59-67","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.1.59-67","url":null,"abstract":"European Union has a diverse environment and recently the awareness of the importance of sustainable development has increased significantly. Subsequently, the greener and more sustainably oriented narratives have been used in documents and legislation produced by the European Union. The European institutions have established a legal framework to facilitate sustainable investments. Consequently, member states of the European Union have been implementing more sustainably prone legislation, but have chosen different legal approaches on how they will tackle the challenges associated with the adoption of more sustainably prone legislation. One of the successful ways how member states encourage more sustainable choices are tax abatements. This article compares and evaluates the best approaches by member states with better-developed tax abatements for sustainable choices and their results. The findings of this article are that various approaches have been developed and suggest how other countries can mirror proven ways towards improvement.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116733513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"MONETARY STRATEGIES DURING AND AFTER THE GREAT RECESSION: ECB VS NBS","authors":"Stefan Stojkov","doi":"10.31410/balkans.jetss.2022.5.1.24-35","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.1.24-35","url":null,"abstract":"The last few decades of the world economic structure have been characterized by a trend of global convergence in the context of the exponential interconnectedness of initially divergent financial markets. With deeper trade and financial integration, nationally oriented monetary policy is confronted with serious obstacles and limitations, having in mind higher vulnerability to the external crisis shocks. The focus of this analysis is the heterogeneous monetary responses of the ECB and the NBS to the same external shocks induced by the Great 2008 Recession. The main findings suggest that both monetary systems should rely on discretionary policy taking current macroeconomic health into account. In contrast to the monetary responses to the Global Recession, the analysis shows that the reactions to the COVID-19 crisis remained faithful to unorthodox measures in ECB’s case but unrelated in NBS’s case.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133868111","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"RELATIONSHIP AMONG WORK CONTRACT SATISFACTION, JOB SATISFACTION, AND PRODUCTIVITY: AN ANALYSIS IN HOTEL INDUSTRY IN CROATIA","authors":"Justin Pupavac, D. Pupavac, Antun Marinac","doi":"10.31410/balkans.jetss.2022.5.1.48-58","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.1.48-58","url":null,"abstract":"In the last couple of decades, non-standard forms of work contracts increase. Usually, non-standard work contracts are connected with higher job insecurity and lower level of job satisfaction which can lead to lower productivity. In accordance with that, the main aim of this research is to explore the correlation between job satisfaction, productivity, and satisfaction with a work contract in the hotel industry in Croatia. The research results are based on the primary data collected by the survey carried out in the hotel industry in Croatia during the summer season of 2018. An ANOVA test is used to achieve the objective and the purpose of the study and to test the set hypotheses. The main finding of this paper points to the conclusion that employees who achieve high productivity show greater satisfaction with the work contract and greater job satisfaction in all dimensions. The obtaining results in this scientific debate can be helpful for hotel managers for enhancing labor productivity.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124344911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"PREFERENCES OF BEHAVIOR TYPES OF LEADERS IN THE PUBLIC SECTOR – CASE STUDY MINISTRY OF DEFENSE OF THE REPUBLIC OF SERBIA","authors":"Ivica Matejić, Mihailo Ćurčić, Radan Kostić","doi":"10.31410/balkans.jetss.2022.5.1.36-47","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.1.36-47","url":null,"abstract":"The subject of this paper is to determine the preferred style of leadership behavior in public sector employees. A sample of employees of the Ministry of Defense (hereinafter MoD) was used to conduct the research. The Ministry of Defense, as an extremely organizationally and hierarchically defined entity, is interesting for researching the preferences of leadership style and the leader-follower relationship itself. Numerous leadership studies conducted in this type of organization have not been found in practice, and there is a reported scientific „gap” on this topic. The research aims to determine which the preferred leadership style in the MoD is and whether gender, age, and years of service influence the preferred leadership style and the leader-follower relationship. The empirical research was conducted in 2021 in the Military Social Security Fund of the Ministry of Defense of the Republic of Serbia on the cause of 51 respondents, using the survey method. The results of the research showed that the preferred leadership style among MoD employees is participatory leadership and that years of service and age have an impact on the choice of the preferred leadership style, as well as on the leader-follower relationship.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133778329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
N. Horta, Rui Dias, Catarina Revez, Paula Heliodoro, Paulo Alexandre
{"title":"SPILLOVER AND QUANTITATIVE LINK BETWEEN CRYPTOCURRENCY SHOCKS AND STOCK RETURNS: NEW EVIDENCE FROM G7 COUNTRIES","authors":"N. Horta, Rui Dias, Catarina Revez, Paula Heliodoro, Paulo Alexandre","doi":"10.31410/balkans.jetss.2022.5.1.1-14","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.1.1-14","url":null,"abstract":"The objective of this article is to analyze the co-movements in the G7 stock markets, such as DJ index, S&P500 (representing the USA stock market), FTSE 100 (United Kingdom), S&P/TSX (Canada), DAX 30 (Germany), CAC 40 (France), Nikkei 225 (Japan), Italy Ds market (Italy) and the cryptocurrencies Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and Crypto 10, during the period of February of 2018 to November of 2021. The results show that the cryptocurrencies BTC, ETH, and LTC increase the co-movements between their pairs, while the Crypto 10 index reduces the number of shocks when compared with the sub-period before COVID-19. Regarding the stock markets, DJ index kept the same level of shocks, whereas the Nikkei 225 decreased. For Germany (DAX), EUA (S&P500), Canada (S&P/TSX), United Kingdom (FTSE 100), France (CAC40), and Italy (Italy Ds Market) markets the results show an increase in movements during the global pandemic period. It is then possible to conclude the existence of evidence regarding synchronization and high co-movements, the results put at risk the implementation of efficient portfolio diversification strategies. These conclusions also open space for the market regulators to take steps to ensure better information on the dynamics of the international financial markets.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129858075","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"ALCOHOL CONSUMPTION IN THE CZECH REPUBLIC IN THE CONTEXT OF COVID-19 PANDEMIC: IMPLICATIONS FOR PUBLIC POLICY","authors":"Michael Fanta, M. Barták","doi":"10.31410/balkans.jetss.2022.5.1.15-23","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2022.5.1.15-23","url":null,"abstract":"The Czech Republic has long been among the countries with the highest alcohol consumption in the world. Almost a fifth of the Czech population is categorised as problematic or high-risk alcohol drinkers. Restrictions taken against the spread of coronavirus have affected the lives of millions of people. Due to economic insecurity and severe mental health consequences, potential changes in behavioural and consumption patterns might also occur. The aim of this article is therefore to analyse available research and data related to alcohol consumption in the Czech Republic during the COVID-19 pandemic (the year 2020). Within this research, methods of time series analyses, comparison and synthesis were applied. Macroeconomic data indicated a decline in overall consumption, which however is affected by reduced tourism. On the other hand, microeconomic data showed an increase in average consumption when people with intense patterns of substance use increased their level of use. If the situation is not sufficiently addressed, serious socio-economic risks might occur, including increased costs for the healthcare system.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132843137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"LEVEL OF FINANCIAL LITERACY OF ACADEMIC YOUTH FROM RURAL AND URBAN AREAS","authors":"J. Polák, Zuzana Kozubíková, Aleš Kozubík","doi":"10.31410/balkans.jetss.2021.4.2.110-121","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2021.4.2.110-121","url":null,"abstract":"Financial literacy is becoming one of the key competencies in the 21st century. In its absence, it is virtually impossible to navigate the market for financial products and services and thus ensure financial stability throughout a whole life. This fact is all the more important given the threats arising from the effects of the pandemic crisis. Thanks to exhausted public budgets and the cooling of the economy, it can be expected that, despite strong regulation, there will be more aggressive sell practices on the market, to which financially literate people are more resilient. The aim of the study is to determine the level of financial literacy of academic youth from rural areas and to compare the results obtained with the level of financial literacy of young people from cities. The source of data used for analysis and inference was primary information obtained from own questionnaire research. To assess the level of financial literacy, the authors use an innovative metric, the personal finance index. In addition to overall success, this approach also makes it possible to analyze knowledge from the eight functional areas of financial literacy. By comparing the results in single areas, the authors reveal that risk management is Achyla’s heel of financial literacy. The authors focus on the differences in financial literacy according to the place of residence. The study explores inequalities in the single functional areas of financial literacy between the respondents living in the urban and rural areas.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134172560","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"THE GLOBAL PANDEMIC (COVID-19) HAS CAUSED LONG MEMORIES IN EUROPE’S BANKING SECTOR","authors":"R. Dias, J. M. Pereira, L. Carvalho","doi":"10.31410/balkans.jetss.2021.4.2.77-90","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2021.4.2.77-90","url":null,"abstract":"This study aims to analyze the impact of the 2020 global pandemic on the banking sectors of the countries of France, Germany, Greece, Ireland, Italy, Portugal, and Spain for the period from January 1, 2018, to August 10, 2020, with the sample being split into two subperiods: first subperiod from January 2018 to August 2019 (Pre-Covid); and the second from September 2019 to August 2020 (Covid-19). Different approaches were undertaken to perform this analysis, in order to verify whether: (i) the global pandemic (Covid-19) accentuated the persistence, in the returns, of the European banking sectors? (ii) the presence of long memories increases the synchronizations between markets? The main findings show that the assumption of the market efficiency hypothesis may be challenged, due to the possible predictability of the banking sectors’ actions, and that the analyzed sectors also show marked levels of integration, thus questioning the hypothesis of efficient portfolio diversification. The results seem to be of interest to investors looking for opportunities in these specific sectors and for policymakers to carry out institutional reforms to increase efficiency and promote sustainable growth of financial markets.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124313419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"DETERMINING THE EFFECTS OF THE COVID-19 CRISIS ON HUMAN RESOURCE MANAGEMENT IN ORGANIZATIONS","authors":"Ljupcho Eftimov, Tanja Kamenjarska","doi":"10.31410/balkans.jetss.2021.4.2.65-76","DOIUrl":"https://doi.org/10.31410/balkans.jetss.2021.4.2.65-76","url":null,"abstract":"Human resource management (HRM), as a crucial constituent of crisis management, has paramount importance in managing the employees and ensuring business continuity, especially during the COVID-19 pandemic. In the constellation of such circumstances, this paper aims to identify the impact of COVID-19 on the HRM in organizations and provide recommendations for the development of long-term strategies, effective management practices and activities that are expected to result in increased employee satisfaction and retention as an organizational response to the crisis. Considering the dynamics and ever-changing environment dominantly, this paper attempts to contribute and expand the HRM literature by providing a comprehensive overview of the level of resilience of HR managers in North Macedonia to deal with a crisis such as the COVID-19 pandemic and valuable insight into the adequacy of the measures taken. As for the purpose of determining the impact of the crisis on the HRM practices, a structured questionnaire was developed and distributed to the top and middle management, HR professionals and employees in selected companies in the Republic of North Macedonia. The results revealed that adequate managerial responses to the crisis positively influence the organizational performance of the observed companies.","PeriodicalId":360974,"journal":{"name":"Balkans Journal of Emerging Trends in Social Sciences","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124296387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}