DOMESTIC AND FOREIGN FINANCING SOURCES IMPACT ON THE ECONOMIC DEVELOPMENT OF THE REPUBLIC OF SERBIA

Goran Radisavljević, Goran Milovanović, Saša Bjeletić

DOI Number
https://doi.org/10.22190/FUEO1902145R
First page
145
Last page
159

Abstract


The aim of the paper is to analyze the effects of selected sources of financing on the economic development of the Republic of Serbia in the period from 2012 to 2016 on the basis of systematized statistical data. First, the theoretical framework of domestic and foreign sources of financing and the impacts of these sources on economic development are presented from the perspective of contemporary theory. This is followed by the analysis of the impact of domestic sources of financing (domestic savings, state and private sector) on the economic development of the Republic of Serbia. Finally, the paper examines the relevance of foreign direct investment (FDI) for encouraging restructuring, competitiveness, growth, and development of the economy of the Republic of Serbia.

Keywords

Domestic sources, foreign sources, FDI, GDP, economic development

Full Text:

PDF

References


Arnold, J.M. & Javorcik, B.S. (2009). Gifted kids or pushy parents? Foreign direct investment and plant productivity in Indonesia. Journal of International Economics, 79 (1), 42-53.

Arsić, M. et al. (2017). Kvartalni monitor ekonomskih trendova i politika u Srbiji [Quarterly Monitor of Economic Trends and Policies in Serbia]. Br. 47, oktobar-decembar 2016. Beograd: Fond za razvoj ekonomske nauke.

Brkić, M. (2017). Istina o Srpskoj ekonomiji [The truth about the Serbian economy]. Nedeljnik, br. 296, 30-32.

Corruption Perception Index 2016. Retrieved from: https://www.transparency.org/news/feature/corruption_perceptions_index_2016. Accessed on: 26 December 2018.

Cvetanović, S. (2005). Teorija privrednog razvoja [Theory of Economic Development]. Niš: Ekonomski fakultet.

Cvetanović, S. & Mladenović, I. (2015). Ekonomija kapitala i finansiranje razvoja [Capital Economics and Development Financing]. Niš: Ekonomski fakultet.

Doing Business 2017 - Equal Opportunity for All. Retrieved from: http://www.doingbusiness.org/~/media/WBG/DoingBusiness/Documents/Annual-Reports/English/DB17-Report.pdf. Accessed on: 30 November 2018.

EPS. (2016). Finansijski izveštaj od 2013 do 2016 [Financial Reports 2013-2016]. Beograd: EPS.

Hagemejer, J. & Tyrowicz, J. (2012). Is the effect really so large? Firm-level evidence on the role of FDI in a transition economy. Economics of Transition, 20 (2), 195-233.

Lewis, A. (1966). Development Planning. London: Allen & Unwin.

Milovanović, G., Radisavljević, G. & Đukić, G. (2018). Dependence of Serbian Economic Development on Foreign Direct Investment Flows. Ekonomika, 64 (1), 33-42.

Ministarstvo finansija Republike Srbije (februar 2017). Bilten javnih finansija [Bulletin of Public Finance]. 150, Beograd: Ministarstvo finansija.

Ministarstvo finansija Republike Srbije (april 2017). Bilten javnih finansija [Bulletin of Public Finance]. 152. Beograd: Ministarstvo finansija.

Moura, R. & Forte, R. (2010). The effects of foreign direct investment on the host country economic growth-theory and empirical evidence, No. 390. Porto: Universidade do Porto, Faculdade de Economia do Porto.

Nikolić, G. (2017). Razbijanje ekonomskih mitova [Breaking economic myths]. Beograd: Arhipelag i Institut za evropske studije.

Petrović, P., Brčerević, D. & Minić, S. (2017). Fiskalna konsolidacija i privredni rast u Srbiji 2015-2017 - plan, ostvarenja i pokretači [Fiscal consolidation and economic growth in Serbia 2015-2017 - plan, achievements and drivers]. Beograd: Fiskalni savet Republike Srbije.

Rostow, W.W. (ed.) (1963). The Economics of Take-off into Sustained Growth. London: Palgrave Macmillan.

Samuelson, P. & Nordhaus, W. (1992). Ekonomija. XIV ed. Zagreb: Mate.

Statistika platnog bilansa, strana direktna ulaganja, neto obaveze, po delatnostima, 2010-2016. godina [Balance of payments statistics, foreign direct investments, net liabilities, by activities, 2010-2016]. Retrieved from: www.nbs.rs/internet/cirilica/80/platni_bilans.html. Accessed on: 22 December 2018.

Statistika platnog bilansa Republike Srbije 2007-2016. godina [Balance of Payments Statistics of the Republic of Serbia from 2007 to 2016.]. Retrieved from: www.nbs.rs/internet/cirilica/80/platni_bilans.html. Accessed on: 11 November 2018.

Statistički bilten [Statistical Bulletin]. April 2017. Beograd: NBS.

The Global Competitiveness Report 2017–2018. http://www3.weforum.org/docs/GCR2017-2018/05FullReport/TheGlobalCompetitivenessReport2017%E2%80%932018.pdf. Accessed on: 14 November 2018.

Todorović, M. (1998). Uvoz kapitala i privredni razvoj [Imports of capital and economic development]. Beograd: Zadužbina Andrejević.

www.worldbank.org/indicator/NE.GDI.TOTL.ZS?locations=RS. Accessed on: 25 November 2018.

www.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=BA-BG-HR-HU-MK-ME-RO-EU&view=chart. Accessed on: 28 December 2018.

www.worldbank.org/indicator/NY.GDS.TOTL.ZS. Accessed on: 29 December 2018.




DOI: https://doi.org/10.22190/FUEO1902145R

Refbacks

  • There are currently no refbacks.


ISSN 0354-4699 (Print)

ISSN 2406-050X (Online)