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Ususret potrebama za profesionalnim razvojem arhitekata: Modeli integrisanja BIM-a u obrazovne programe

Ususret potrebama za profesionalnim razvojem arhitekata: Modeli integrisanja BIM-a u obrazovne programe

Meeting Professional Development Needs of Architects: Models for Integrating BIM into Education Programs

Author(s): Hatidža Çapkın / Language(s): English / Issue: 1-2/2022

Keywords: education needs; professional development of architects; university programs; Building Information Modeling (BIM);

There is a need for innovation in the education and further professional development of architects which will enable them acquire and develop the future-oriented knowledge and skills. In the knowledge society, learning takes place in an array of different contexts and lasts as long as an individual is keen on developing new knowledge or skills. However, initial preparation through university programs is essential for the professionalization of the field and development of professional identity in an individual. Yet, university is traditionally resistant and sceptic to changes, especially those coming from the industry or other market-oriented sectors. This makes university experts search for suitable models of introducing innovations. This paper discusses the models questioned in relation to the introduction of the Building Information Modelling (BIM) in architectural education. It is considered a paradigmatic change in engineering education, which requires specific capacities for its successful implementation in the education programs. Three models are discussed; BIM in education frameworks, stand-alone BIM courses, and BIM in the design studio.

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The Igrița Cave and Cheia-Quarry sites: a first assessment of the absolute chronology of discoveries belonging to the Upper Paleolithic

The Igrița Cave and Cheia-Quarry sites: a first assessment of the absolute chronology of discoveries belonging to the Upper Paleolithic

Descoperirile aparținând paleoliticului superior din siturile Peștera Igrița și Cheia-Carieră: o primă evaluare a cronologiei lor absolute

Author(s): Mihai Rotea,Mihai Netea,Tiberiu Bogdan SAVA,Mircea Răchită,Corina Anca Simion,Dana-Alexandra Valea,Oana GAZA / Language(s): English / Issue: 36/2022

Keywords: UpperPaleolithic; Igrița Cave and Cheia-Quarry sites; C14 dating;

This study presents a first evaluation of C14 dating results for four Upper Paleolithic samples for Igrița Cave (Bihor County) and Cheia-Quarry (Cluj County)sites. In additional, the authors propose a first interpretation of two features consisting entirely of animal bones discovered at the Cheia-Quarry site.

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Perspectives on Fractional Reserve Banking and Money Creation/Production through the Lenses of Legal and Religious Moral Precepts and Ethics

Perspectives on Fractional Reserve Banking and Money Creation/Production through the Lenses of Legal and Religious Moral Precepts and Ethics

Perspectives on Fractional Reserve Banking and Money Creation/Production through the Lenses of Legal and Religious Moral Precepts and Ethics

Author(s): Mejd Aures Benlala / Language(s): English / Issue: 1/2023

Keywords: commercial banks; fractional reserve banking; Islamic banking; legal and religious precepts; money creation;

Today’s financial and banking systems are built on fractional reserve banking. This article sheds light on the role of commercial banks with regards to money creation/production under this system of fractional reserve banking. After exploring the nature of the process of money creation/production, the research paper diligently scrutinizes this process through the lenses of legal and religious moral precepts and ethic. The article concludes, with solid supporting arguments, that money creation/production under fractional reserve banking is immoral, ethically wrong and harmful at both individual and societal levels, with numerous legal and religious violations at its core.

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Comparative View on Hidden Vices and Vices of Consent (Error, Fraud) in the Hypothesis of the Sales Contract

Comparative View on Hidden Vices and Vices of Consent (Error, Fraud) in the Hypothesis of the Sales Contract

Comparative View on Hidden Vices and Vices of Consent (Error, Fraud) in the Hypothesis of the Sales Contract

Author(s): Laurențiu Dragu,Denise Martalog / Language(s): English / Issue: 1/2023

Keywords: hidden vice; consensual vice; error; fraud; liability action for hidden vices; action for annulment for vices of consent;

The study that we will undertake is going to capture a comparative analysis of the aspects related to the vices of consent (error and fraud) and hidden vices. In practice, in the case of a sales contract, the same situation can be classified both in the category of hidden vices and in the category of consensual vices (error or fraud). So, the problem that arises in such cases is: can the buyer opt either for the liability action for hidden vices, or for the nullity in action for error or fraud, or is he obliged to promote only one of them? Specifically, the research aims to highlight the possibility that a circumstance can be qualified simultaneously as both a hidden vice and a vice of consent, also providing clarifications for the practical solution of this situation.

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Freedom of Expression - Aspects of Judicial Practice Regarding Expression in a Political Context and in Relation to the Right of Politicians to Dignity and Honor

Freedom of Expression - Aspects of Judicial Practice Regarding Expression in a Political Context and in Relation to the Right of Politicians to Dignity and Honor

Freedom of Expression - Aspects of Judicial Practice Regarding Expression in a Political Context and in Relation to the Right of Politicians to Dignity and Honor

Author(s): Alexandru Cristian Roșu / Language(s): English / Issue: 1/2023

Keywords: freedom of expression; restrictions and limitations; positive obligations; negative obligations;

From the ancient oratories and politicians of ancient Athenian democracy, it has been said that "there can be no greater misfortune for free people than the loss of freedom of speech" (Demosthenes), and in this context, this fundamental right has always been related to nature. human rights, the development of society, including the possibility of human beings to live in a state governed by the rule of law where human rights are protected and guaranteed, or as stated in the jurisprudence of the European Court of Human Rights, freedom of expression is one of the basic conditions for the progress of society and for the development of every human being.

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General Features Specific to Crimes against the Person

General Features Specific to Crimes against the Person

General Features Specific to Crimes against the Person

Author(s): Aurel Octavian Pasat / Language(s): English / Issue: 1/2023

Keywords: crimes against the person; object of crimes; subject of crimes; objective side; subjective side; sanctions;

The economic and political development of society is always associated with the worsening of relations between its members. An extreme manifestation of the antisocial orientation of the actions of individual members of society is criminal activity. Criminality not only undermines the authority of state power, but also represents a threat both to the economic stability of society and to every citizen, that is why crimes against the person open the Special Part of the Criminal Code of Romania. Unlike previous criminal laws, this arrangement of the chapter indicates the priority of protecting the person, the group of crimes against the person being united by a single direct object, human life. The relevance of the subject of this paper lies in the fact that it highlights the specific general features of crimes against the person, in order to qualify these prejudicial acts criminalized in the articles of Title I of the Special Part - Criminal Code of Romania.

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Some Theoretical and Legal Reflections on the Order of Criminal Law, the Criminal Legal Relationship of Compliance and the Criminal Legal Relationship of Conflict

Some Theoretical and Legal Reflections on the Order of Criminal Law, the Criminal Legal Relationship of Compliance and the Criminal Legal Relationship of Conflict

Some Theoretical and Legal Reflections on the Order of Criminal Law, the Criminal Legal Relationship of Compliance and the Criminal Legal Relationship of Conflict

Author(s): Nela Manole / Language(s): English / Issue: 1/2023

Keywords: compliance criminal law report; conflict criminal law report; legal order; criminal law; doctrine; crime; criminal law rules; judicial practice;

Our theoretical approaches combined with judicial practice are motivated by the multitude of divergent opinions that have appeared in the Romanian criminal doctrine regarding these concepts. Thus, most Romanian authors, starting from the premises according to witch all legal norms are transposed by creating legal relations and other wise ignoring the normative character and the regulatory function that criminal law has in disciplining social conduct , reach the thesis according to which there is also a criminal legal relationship of compliance , this being an expression, a form of dynamic manifestation of the social defense relations that emanated from the norm of criminal law since its entry into force. The defense of social values is achieved mainly through criminal legal means (criminal law), through extra-legal means of educational, social, cultural, economic, as well as through extra-criminal legal norms of commercial law, administrative law, labor law, of constitutional law etc. Criminal law is rightly considered the result of a dialectical process and not of an ideal creative process. The two sides of criminal policy, namely special preventive action and repressive reaction, are achieved through criminal law mainly, which by its rules provides both the conduct to be followed by the recipients of criminal law and the necessary reaction against crime to restore order right. As such, the criminal law order is achieved by observing the provisions of the criminal law, the criminal coercion intervening only in the case of committing certain crimes. It can be noted that the legal order has a complex and dynamic character, which is a succession of plans, the preventive preceding the repressive, and the latter aimed at the corrective - in the sense of criminal treatment. It can be noted that the legal order has a complex and dynamic character, which is a succession of plans, the preventive preceding the repressive, and the latter aimed at the corrective - in the sense of criminal treatment.

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Terrorist Offences under Polish Law

Terrorist Offences under Polish Law

Terrorist Offences under Polish Law

Author(s): Remigiusz Rosicki / Language(s): English / Issue: 1/2023

Keywords: counter terrorism security; terrorism; terrorist offence; combating terrorism; penal policy

The material scope of the research problem encompasses issues concerned with the essence and sense of the legal definition of a terrorist offence in the Polish criminal law. The Polish legislator implemented the definition of a terrorist offence under Art. 115 § 20 of the Criminal Code in 2014, which was caused by the necessity to align the Polish law with the EU regulations. Metaphorically, it needs to be recognised that the definition in a way modifies the prohibited act and the scope of criminal liability. The structure of the legal definition of a terrorist offence comprises two elements, which serve as conditions to be fulfilled by the perpetrator. The first condition is formal and concerned with the severity of the sanction apportion to the perpetrator’s main act, while the second condition is motivational and concerned with a special goal actuating the perpetrator. Undoubtedly, the institution of the terrorist offence in the Polish criminal law serves a dissuasive and repressive purpose in relation to perpetrators of such offences. In order to elaborate the objective scope of the analysis, the following research questions are presented in the paper: (1) To what degree is the legal definition of a terrorist offence effective in the criminal policy regarding prevention and combating terrorism? (2) To what degree may the content of the legal definition of a terrorist offence infringe the principle of nullum crimen sine lege certa? The analysis is an overview, and has been performed considering an institutional and legal approach. In this approach, textual, doctrinal, and functional interpretations have been applied to the content of the legal definition of a terrorist offence. Given the discrepancies arising from the ambiguity of the terms used in the definition, relatively great emphasis has been laid on linguistic interpretation.

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THE INNOVATION PARADOX IN THE SERBIAN ECONOMY: THE GRANGER CAUSALITY APPROACH

THE INNOVATION PARADOX IN THE SERBIAN ECONOMY: THE GRANGER CAUSALITY APPROACH

THE INNOVATION PARADOX IN THE SERBIAN ECONOMY: THE GRANGER CAUSALITY APPROACH

Author(s): Lidija Madžar / Language(s): English / Issue: 37/2022

Keywords: Serbia; innovations; patent applications; gross domestic product (GDP); gross expenditures for research and development (GERD); vector autoregressive (VAR) model; Granger causality test;

Innovations, as the applications of new ideas, solutions and technological practices that improve goods, services and business processes, are the most important driver of economic progress. They lead to greater productivity and efficiency, and therefore to better economic results. The purpose of this article is to examine the state, interrelation and the impact of innovative activities on the economic growth of Serbia. The paper first uses standard multiple regression and concludes that in the period from 2004 to 2020, the number of registered patents did not contribute, while the gross expenditures for research and development (GERD) contributed positively and significantly to the growth of the Serbian GDP. Therefore, it can be said that Serbia is facing a kind of innovation paradox, since the growth of allocations coexists with a dramatic decrease in the number of registered patents. Its second part is based on the construction of the corresponding Vector autoregressive VAR(1) model that traces the causal relationship between GERD and the economic growth of Serbia in the period from 1997 to 2020. It follows that while GERD does not cause GDP in the Granger sense, the GDP causes GERD allocations for innovative activities in Serbia. The scientific research work in Serbia is not efficient and effective enough because it draws funds from the GDP, but does not meet expectations and does not produce tangible results, especially in the expected number of registered patents. Therefore, it is necessary to build an appropriate incentive environment that would stimulate more adequately and value new innovative ventures.

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MACROECONOMIC STABILITY AND EUROPEAN UNION INVESTMENTS

MACROECONOMIC STABILITY AND EUROPEAN UNION INVESTMENTS

MACROECONOMIC STABILITY AND EUROPEAN UNION INVESTMENTS

Author(s): Jelena Bjelić,Slaviša Kovačević,Ognjen Erić / Language(s): English / Issue: 37/2022

Keywords: European Union; investments; GDP; public debt; budget deficit; interest rates; inflation; unemployment; tax revenues;

The quantity and quality of investments represent a condition for sustainable and long-term economic growth. Therefore, in economic theory, the rate of economic growth is a function of investment. This research includes an analysis of the impact of selected key macroeconomic indicators (independent variables) on the state and trend of investments in the European Union as a dependent variable. The research covers the period from 2012 to 2021. The following independent variables are chosen: GDP growth rate, interest rate, inflation, unemployment, income from indirect and direct taxes, public debt and budget deficit. The research shows the impact of these variables on the investments of the European Union, the dependent variable. The results of the regression analysis show that interest rates, unemployment, revenues from indirect taxes, as well as the public deficit and public debt have a negative and statistically significant direction in relation to investments. The GDP growth rates as well as direct tax revenues are statistically insignificant, but they have a positive regression coefficient on investments. Inflation rate is also an insignificant variable, but with negative impact on investments. The chosen model in the context of the joint action of all independent variables is statistically significant given that the coefficient of determination is 0.99. The results of the F test indicate statistical significance below 5%, so the model offers enough degrees of freedom (df) to vary the variables and statistically acceptable rating. Finally, the obtained results are significantly consistent with previous research and theoretical assumptions.

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REMITTANCE INFLOWS, POVERTY AND ECONOMIC GROWTH IN TANZANIA: A MULTIVARIATE CAUSALITY MODEL

REMITTANCE INFLOWS, POVERTY AND ECONOMIC GROWTH IN TANZANIA: A MULTIVARIATE CAUSALITY MODEL

REMITTANCE INFLOWS, POVERTY AND ECONOMIC GROWTH IN TANZANIA: A MULTIVARIATE CAUSALITY MODEL

Author(s): Mercy T. Musakwa,Nicholaus M. Odhiambo / Language(s): English / Issue: 37/2022

Keywords: Autoregressive distributed lag (ARDL); economic growth; poverty; remittances; Tanzania;

Purpose: This study examined the causal flow between economic growth, poverty, and remittances for Tanzania, using annual data from 1990 to 2020. Tanzania is working to achieve the policy targets set in its Vision 2025, and the findings of this study will add value to policy effectiveness and timing. The study uses household consumption expenditure per capita (HCE) as a measure of poverty, the rate of change in GDP as a measure of economic growth, and remittance inflows as a percentage of GDP as a measure of remittances. Methodology: The study used autoregressive distributed lag (ARDL) approach to cointegration and ECM-based Granger causality. Results: The study found a bidirectional causality between remittances and poverty in the short run and a unidirectional causal flow from remittances to poverty in the long run. No causality was found between remittances and economic growth, and between economic growth and household consumption expenditure per capita. Conclusions: The findings of this study point to the importance of remittances in poverty reduction and sustainable development in Tanzania. Recommendations: Tanzania is encouraged to continue implementing policies that support remittance inflows to positively influence poverty reduction.

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DISCOUNT RATE AS A MEASURE OF MONETARY POLICY FOR MARKET STABILIZATION - EXAMPLE OF THE NATIONAL BANK OF SERBIA

DISCOUNT RATE AS A MEASURE OF MONETARY POLICY FOR MARKET STABILIZATION - EXAMPLE OF THE NATIONAL BANK OF SERBIA

DISCOUNT RATE AS A MEASURE OF MONETARY POLICY FOR MARKET STABILIZATION - EXAMPLE OF THE NATIONAL BANK OF SERBIA

Author(s): Branka Topić Pavković,Mirjana Štaka / Language(s): English / Issue: 37/2022

Keywords: monetary policy; central bank; interest rate; market stability; commercial banks;

The increase in interest rate is related to the efforts of monetary authorities to neutralize inflationary pressures; while the rate reduction can be interpreted as an invitation to business sector to access more favorable lending conditions. The effectiveness of these changes largely depends on the development level of financial system, the role of the central bank as a creditor and current economic situation. In this research an econometric regression double-logarithmic model was applied, with the main goal of examining the relationship between discount rate and its influence on interest rates and money supply on the example of the National Bank of Serbia. The results show the correlation between the NBS discount rate and interest rates of commercial banks and the amount of money in circulation, indicating their influence on market stability.

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MACROECONOMIC DETERMINANTS OF COMPETITIVENESS: EVIDENCES FROM FACTOR EFFICIENCY AND INNOVATION-DRIVEN COUNTRIES

MACROECONOMIC DETERMINANTS OF COMPETITIVENESS: EVIDENCES FROM FACTOR EFFICIENCY AND INNOVATION-DRIVEN COUNTRIES

MACROECONOMIC DETERMINANTS OF COMPETITIVENESS: EVIDENCES FROM FACTOR EFFICIENCY AND INNOVATION-DRIVEN COUNTRIES

Author(s): Mohsen Mohammadi Khyareh,Nasrin Rostami / Language(s): English / Issue: 37/2022

Keywords: competitiveness; global competitiveness index; economic growth; GMM;

The investigation of factors that increase or hinder competitiveness has been one of the core tenets of theoretical and empirical researchers, but so far there has been no consensus. This study responds to this issue by exploring how different facets of the macroeconomic environment influence competitiveness in the three Global Entrepreneurship Monitor (GEM) types of economy (factor-driven economy, efficiency-driven economy, innovation-driven economy). Using Porter’s classification, we divided countries based on factor, efficiency and innovation. Additionally, the generalized method of moments (GMM) was used to capture endogeneity and unobserved heterogeneity of data in an unbalanced panel data for 81 countries (2002-2018). The results show that the variations of competitiveness across countries are mainly determined by variations in the stage of economic development. Firstly, GDP growth, low start-up costs and higher R&D expenditure play a key role in explaining the variation in competitiveness in three country clusters. Secondly, as regards Stage 1 countries, we find that trade openness, tax rate, GDP growth, start-up costs, real effective exchange rate, R&D expenditures and labor productivity are particularly vital for competitiveness. Concerning Stage 2 countries, we may observe that trade openness, tax rate, GDP growth, inflation, start-up costs, financial development, real effective exchange rate, R&D expenditures and labor productivity had a statistically significant impact on competitiveness. When it comes to Stage 3 countries, factors such as trade openness, FDI, tax rate, GDP growth rate, inflation, tax rate, startup costs, financial development, R&D expenditures, and labor productivity have an impact on competitiveness. This article presents some essential features, such as the macroeconomic index to determine competitiveness. These features can be used as guidelines for decision makers because they identify areas where taking further actions can improve competitiveness. Finally, our obtained results are highly consistent across a series of robustness tests and robustness checks covering alternative samples and alternative variable groups.

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ANALYSIS OF THE INFLUENCE OF SPECIFIC FACTORS ON REAL ESTATE PRICES IN THE REPUBLIC OF SRPSKA

ANALYSIS OF THE INFLUENCE OF SPECIFIC FACTORS ON REAL ESTATE PRICES IN THE REPUBLIC OF SRPSKA

ANALYSIS OF THE INFLUENCE OF SPECIFIC FACTORS ON REAL ESTATE PRICES IN THE REPUBLIC OF SRPSKA

Author(s): Dragan Stanković / Language(s): English / Issue: 37/2022

Keywords: real estate prices; value levels and tables; relational table; CAMA algorithm;

The work deals with the analysis of the real estate market and the specificities of the formation of real estate prices in the Republic of Srpska. The specificity is reflected, among other things, in the definition of the market value of real estate if the prices are known from the sales contracts entered in the Real Estate Price Register (formed on the basis of supply and demand for apartments), the formation of value zones (location factor), the value tables (relational tables and value levels), the additional factors of influence (factor of the position of the apartment in the building) and equations for estimating the value of the real estate. The analysis was done using the CAMA algorithm. The research results show that real estate prices from the Real Estate Price Register and real estate prices calculated according to the CAMA algorithm are 70% accurate, i.e. they are within the permitted deviation interval of +,- 10 %, which means that the CAMA algorithm can also be used for real estates that have not been registered in the Real Estate Price Register yet.

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TOURISM POLICY DEVELOPMENT AND IMPLEMENTATION IN THE EASTERN CAPE PROVINCE, SOUTH AFRICA: DOES LOCAL STAKEHOLDER INVOLVEMENT COUNT?

TOURISM POLICY DEVELOPMENT AND IMPLEMENTATION IN THE EASTERN CAPE PROVINCE, SOUTH AFRICA: DOES LOCAL STAKEHOLDER INVOLVEMENT COUNT?

TOURISM POLICY DEVELOPMENT AND IMPLEMENTATION IN THE EASTERN CAPE PROVINCE, SOUTH AFRICA: DOES LOCAL STAKEHOLDER INVOLVEMENT COUNT?

Author(s): Silwana Monwabisi,Cynthia Nokubonga Dube / Language(s): English / Issue: 37/2022

Keywords: stakeholder; policies; stakeholder theory; tourism planning;

Municipalities are at the lowest level of Government, and it is where the actual implementation of tourism policies takes place. District municipalities and communities globally often face poorly planned development projects resulting from inefficient and ineffective policy and planning implementation. One of the reasons for this is that there is, at times, a lack of participation by key stakeholders. The success of tourism development policies and their implementation rests on the involvement of all relevant stakeholders. This study adopted a qualitative research approach whereby purposive and snowball sampling methods were used to identify the research sample from the research population. The research population included the district municipality staff, regional and local tourism organisations, also known as tourism forums, tourism development agencies, and the rural planning and economic development departments. Consequently, fourteen (14) semi-structured interviews were conducted with key stakeholders from the district municipality, local municipalities, tourism organisations and Eastern Cape Parks Tourism Agency. A thematic analysis technique was used to analyse the data. This study focused on stakeholder involvement in the development and implementation of tourism policies in the O.R Tambo District Municipality (ORTDM). The key findings from the study revealed that there is a lack of stakeholder collaboration in development and the implementation of tourism-related policies in ORTDM.

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FOOD INFLATION AND CHILD HEALTH IN AFRICA: EVIDENCE FROM COUNTRIES WITH HIGH MISERY INDEX

FOOD INFLATION AND CHILD HEALTH IN AFRICA: EVIDENCE FROM COUNTRIES WITH HIGH MISERY INDEX

FOOD INFLATION AND CHILD HEALTH IN AFRICA: EVIDENCE FROM COUNTRIES WITH HIGH MISERY INDEX

Author(s): Joseph Afolabi Ibikunle,David Sunday Oyerinola,Aderonke Deborah Tosin / Language(s): English / Issue: 37/2022

Keywords: food price inflation; life expectancy; infant mortality; under five mortality; neonatal mortality;

This paper investigates the effect of food price inflation on the public health improvement as measured in terms of life expectancy, infant mortality rate, under five mortality rate and neonatal mortality rate in six selected African countries with high misery index for the period from 2000 to 2020. The Augmented Mean Group and Common Correlated Estimation Mean Group were used to determine the effect, as well as Westerlund Cointegration tests. Our findings revealed that rising food prices have a significant detrimental effect on nourishment and consequently lead to higher levels of infant under five and neonatal mortality while reducing the expected life expectancy in the African countries. High food price inflation also has a long run effect on public health. The implication of the result shows that with high rate of food prices coupled with poor child health, the Sustainable Development Goals target of ending preventable deaths of newborns and children under age of 5, and the aim of having a neonatal mortality rate of 12 or fewer deaths per 1,000 live births, and an under-five mortality rate of 25 or fewer deaths per 1,000 live births, by 2030 may not be realistic. Therefore, African Governments should gear up efforts towards reducing food price inflation, improving health expenditure, per capita income and enabling environment for safe sanitation, especially for pregnant women and little children. Also, Governments should create enabling environment for sanitation and access to safe drinking water.

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FOREIGN TRADE AS A DETERMINANT OF ECONOMIC GROWTH OF THE REPUBLIC OF SRPSKA: AN EMPIRICAL ANALYSIS

FOREIGN TRADE AS A DETERMINANT OF ECONOMIC GROWTH OF THE REPUBLIC OF SRPSKA: AN EMPIRICAL ANALYSIS

FOREIGN TRADE AS A DETERMINANT OF ECONOMIC GROWTH OF THE REPUBLIC OF SRPSKA: AN EMPIRICAL ANALYSIS

Author(s): Slaviša Kovačević,Srđan Amidžić,Drago Kurušić / Language(s): English / Issue: 37/2022

Keywords: foreign trade; economic growth; trade openness; gross domestic product;

Most studies that investigate the relationship between foreign trade and economic growth analyze it through the interpretation of various indicators. This paper seeks to investigate the relationship between coverage of imports by exports and the openness to foreign trade on one hand and the gross domestic product of the Republic of Srpska on other hand. The research relates to the period from 2001 to 2020. By applying the ARDL model we confirmed the initial hypothesis that an increase in the coverage of imports by exports increases the domestic product. The paper confirms the long-term relationship between independent and dependent variables, expressed through the existence of the cointegration equation. Results based on the applied ARDL method show negative, but insignificant relationship between openness and gross domestic product in the Republic of Srpska in long run, and statistically significant positive relationship between coverage of imports by exports and gross domestic product in long run. Value of coefficient shows that 1% increase in coverage of imports by exports increases gross domestic product by 0.80% in long run.

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THE INFLUENCE OF THE COVID-19 PANDEMIC ON THE FINANCIAL PERFORMANCE OF LISTED RETAIL FIRMS IN SOUTH AFRICA

THE INFLUENCE OF THE COVID-19 PANDEMIC ON THE FINANCIAL PERFORMANCE OF LISTED RETAIL FIRMS IN SOUTH AFRICA

THE INFLUENCE OF THE COVID-19 PANDEMIC ON THE FINANCIAL PERFORMANCE OF LISTED RETAIL FIRMS IN SOUTH AFRICA

Author(s): Lenny Phulong Mamaro,Ndonwabile Zimasa Mabandla / Language(s): English / Issue: 37/2022

Keywords: COVID-19; financial performance; retail firms; South Africa;

The objective of the study was to analyse the influence of the COVID-19 pandemic on the financial performance of selected listed retail firms in South Africa. The COVID-19 pandemic had a negative effect on economic growth and resulted in a severe decline in the financial performance of companies. In addition, it disrupted many business and economic development opportunities in South Africa. The study was conducted to investigate the influence of the COVID-19 pandemic on the financial performance of selected retail firms listed on the Johannesburg Stock Exchange (JSE). Panel data analysis was adopted as a methodology to achieve the study objectives. The COVID-19 pandemic was found to have exerted a statistically significant negative impact on financial performance. Positive significant relationships emerged between financial leverage, firm size, financial liquidity and financial performance of selected JSE-listed retail firms. Lastly, growth in sales was found to be positive but exerted a weak significance on financial performance. The study contributes to the existing literature on the influence of the COVID-19 pandemic on the financial performance of listed retail entities in South Africa.

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BOOK REVIEW: NIKOLA NJEGOVAN (2022) FRIEDMAN’S CHALLENGE

BOOK REVIEW: NIKOLA NJEGOVAN (2022) FRIEDMAN’S CHALLENGE

BOOK REVIEW: NIKOLA NJEGOVAN (2022) FRIEDMAN’S CHALLENGE

Author(s): Rajko Tomaš / Language(s): English / Issue: 37/2022

Keywords: development of economic theory; positive economics; economics; review;

Review of: Nikola Njegovan. (2022). Friedman’s Challenge. Belgrade: Faculty of Economics University of Belgrade, Centre for Publishing, 207 pages.

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Religious figures
in controversial advertisements.

Religious figures in controversial advertisements.

Religious figures in controversial advertisements.

Author(s): Kinga Kowalewska / Language(s): English / Issue: 13/2022

Keywords: shock advertising; shockvertising; advertising; iconoclastic images; religion

In the contemporary world, traditional forms of advertising seem to be losing impact. In the advertising clutter, ad makers try to make their advertisements stand out by the implementation of new and attractive strategies. Shockvertising is one of them. This unconventional approach to advertising aims at astonishing its audience by presenting shocking and controversial content. It is based on the assumption that arousing strong emotions will enhance the process of memorising. Additionally, the provocative nature of the message is intended to shock, and thus generate publicity, which in turn increases brand awareness, and consequently influences sales. The main aim of this questionnaire-based research was to verify what kind of feelings and emotions are evoked among recipients of iconoclastic images in advertisements for different products and to check if the audience feels encouraged and convinced by such an appeal. Moreover, in the cultural dimension, the study aimed at assessing the sensitivity to controversial topics including religious concepts. The audience was exposed to images of religious characters combined with profane or taboo topics and asked for opinions. Based on the results, it can be concluded that, from a cultural point of view, the Polish audience demonstrates sensitivity to religious issues. Besides, from a marketing perspective, although shockvertising proves effective in distinguishing the brand, on a conscious level, it fails to influence the actual purchase behaviour.

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