Reforms of the IMF in the Context of the Global Financial Crisis

The IMF during its existence has undergone numerous changes. From the institution established for international monetary cooperation and oversight over fixed exchange rate regimes, the IMF has turned into an institution whose main goal is the maintenance of the global economic and financial stability. In order to achieve this goal, the IMF in the modern era focuses its activities primarily on the prevention of emergence of economic crisis and minimising of their negative effects. However, at the end of the XX and the beginning of the XXI century, due to inefficient activities and poor results, especially when it comes to solving the crisis in South East Asia and Argentina, the Fund began to lose its credibility and found itself in a deep crisis. The IMF has tried to take steps that would lead to the improvement of the situation, but it did not manage to achieve tangible progress. The global economic crisis has further highlighted the existing drawbacks and omissions, which the Fund has been faced with. However, the growing demand for financial support from member states, as well as the need for the organization that would succeed in preventing the emerging of crisis and facilitate the fight with its consequences, were providing serious support to the Fund. The IMF's new effort has been focused on reforming its structure and the way of functioning. This paper analyzes the progress achieved by the IMF in the implementation of reforms related to resolving the difficulties caused by the crisis and discusses possible directions for future activities of the Fund including an overview of vulnerabilities and the possibility of their elimination

Značaj ekoloških naknada za politiku zaštite životne sredine u Srbiji i Republici Češkoj

Ekološki porezi i naknade, kao izvori javnih prihoda, postaju sve prisutniji u naučnoj, političkoj i u široj javnosti. Upotrebom ekonomskih instrumenata za zaštitu životne sredine, kroz cene kao mehanizam stimulacija za promene ponašanja, može se uticati na preduzeća da smanje nivo štetnih emisija pri proizvodnim procesima, kao i na domaćinstva da smanje upotrebu proizvoda koji nisu ekološki prihvatljivi. U radu se analiziraju ekološke naknade i porezi koji se primenjuju u Srbiji i ČR. Procenjuje se njihova efikasnost kao i mogućnost budućeg razvoja

The Western Balkans countries relations with the EU: development and perspectives

The development of relations between Western Balkan countries and European Union represents very complicated and long-term process. During past few decades, Western Balkan countries made significant progress in that process, and as their primary goal defined common future with EU. Membership in the EU is a great incentive to the reforms, economic growth, democracy development, institutional frame constitution and stabilization in the whole region. Still there are lots of barriers and problems which obstruct those countries in their way of euro-integrations. To continue successful cooperation WB countries need to make effort in reforms implementation and approaching to European Union standards and values. In return, EU need to give full support and build appropriate capacities for preparation of Western Balkan countries for future membership. It is obvious that the association process will take a few more years. Countries of this region need to continue mutual cooperation and dialogue on all levels in order to avoid complications in relations and enlargement fatigue

EU and Serbia: SME policy in time of crisis and beyond

Small and Medium-sized Enterprises are recognized as the backbone of every economy and the key source of economic growth, dynamism and flexibility in advanced industrialized, as well as in transitional and developing countries. Policymakers are conclusive in attempt to promote the more dynamic development of SME sector by creating policies and consistently implementing the basic principles contained in the European Charter for Small Enterprises. The further course of the Serbian integration into the European Union will be primarily determinate by the development of the SME sector. The SME sector in the Serbian economy accounts for the largest part of total number of active companies, GDP, total export and import and for the majority of employment. Due to the fact that the world financial crisis has worsen the already vulnerable SME sector in Serbia, the government, by setting the adequate policy framework in which SMEs can operate, has provided economic benefits through the selection of business support instruments, the problems they address and the way they are delivered. Even though the importance of the role SMEs play is even more emphasized in times of crisis, these enterprises are facing significant problems when providing necessary financial resources and maintaining liquidity

Clusters as a Factor of Logical Economic Development, the Case of Czecs Republic

The concept of clusters, as the empirical phenomenon of geographical concentration of economic and innovation activities, is recognized as one of the key factors for strengthening small and medium-sized enterprises, which are believed to be the driving force of local economic development. The evidence suggests that local economies that are based on networking and cooperation between companies, financial institutions, public and academic actors, as well as different organisations, generate better outcomes. Clusters are significantly related to prosperity and local economic development by providing an environment that is conductive to innovation creation and knowledge spillovers, vertical integration and specialisation, pressure for competition, supply chain creation, and competitiveness and employment growth. The role of national governments at all levels in creating and implementing cluster policies has been increasing in the last decade. Through various policy actions, programs and cluster initiatives, governments provide much needed support and initial platforms for dynamic growth of clusters. The case of Czech Republic is presented as an example of successful cluster policy development. The analysis of two specific clusters, supported by the government, illustrates their significant impact on economic development of regions

Judicial precedent and practice of the ECHR in criminal law

The source of law, the case-law of the European Court of Human Rights (hereinafter – the ECtHR), is playing an increasingly significant role in the practice of judicial proceedings in Ukraine. The activities of the ECtHR significantly affect the implementation of the principle of the rule of law in Ukraine in criminal proceedings. Therefore, the phenomenon of judicial precedent and the application of ECtHR practice in criminal law requires comprehensive analysis. The work aims to study the case law and practice of the ECHR in criminal law, problems of theory and practice of application of court precedents by national courts, and ways to solve them. The research methodology consists of such methods as historical and legal; comparative law; formal and logical; empirical; cognitive; method of analogy; synthesis method; method of analysis. The value of ECtHR decisions is that such decisions, more quickly than other criminal procedural means, make adjustments to the law enforcement process of public authorities, thus improving the mechanism of criminal procedural regulation to guarantee conventional and constitutional human rights. In addition, the recognition of the case law of the ECtHR as a source of law is necessary for the adaptation of national legislation of Ukraine to the legislation of the European Union. Although legal precedent is not officially recognized as a source of law in Ukraine, the decision of the ECtHR recognizing case law can be considered in Ukraine as a rule of law