PUBLIC DEBT AS A DETERMINANT OF THE CONVERGENCE OF BOSNIA AND HERZEGOVINA IN THE EU ACCESSION PROCESS

The debt crisis, as one of the significant causes of disruptions in economies, is no longer reserved only for underdeveloped and developing countries, but it is a global economic problem that we are currently witnessing. The concept of debt crisis stems from excessive borrowing, which, by its increase, causes negative economic consequences. The realized deficit of transition countries over the past decade has had a significant impact on the increase in public sector debt, and these countries are faced with the great challenge of consolidating public finances and trying to reduce public debt while preserving economic growth. This paper provides an analysis of the state of the public debt of Bosnia and Herzegovina and its implications for the economy, which, with its movement and inadequate structure, causes negative economic consequences, making the process of convergence in the EU more difficult

CORPORATE RISK MANAGEMENT PRACTICES IN BOSNIA AND HERZEGOVINA COMPANIES

Over the last few decades, corporate risk management has become a very important element of management to financial and non-financial companies. In the modern business environment every company is exposed to corporate risk. It can be said that the way to deal with the corporate risk has become a crucial competitive advantage for enterprises in all industry sectors. Reducing the impact of corporate risks such as financial risks, operational risks, strategic and hazardous risks, companies can reduce the volatility of cash flows, thus reducing the expected costs of financial difficulties and agency costs and increase the present value of expected future cash flows. Also, by reducing the volatility of cash flows company increases the likelihood of securing sufficient quantities of its own funds for planned investments, eliminating the need to cut profitable projects or bear the transaction costs of expensive external financing. The paper presents the results of research on the practice of corporate risk management in large non-financial companies in Bosnia and Herzegovina. Data on corporate risk management were collected using a questionnaire. The questionnaire was sent to 120 companies from Bosnia and Herzegovina, where 66 companies provided the required answers to the questions on the basis of which is ultimately formed variable risk that indicates the level of implementation of corporate risk management. Based on the study on the management of corporate risk in Bosnia and Herzegovina it can been concluded that most of the analyzed companies manage corporate risk, at least in certain segments. The largest number of companies actively controls only part of the overall exposure to corporate risk, or are considering the implementation of the complete process of corporate risk management. However, there are still a significant number of companies do not even manage corporate risk, and with them the risk management is primarily a result of occurred events. Although most of the observed companies monitor risks, it is worth pointing out that even 32% of the companies do not elucidate the risk tolerance, and even 45% of companies did not quantify the risks

AN EXAMPLE OF WIND TURBINE STRUCTURE

Cilj ovog rada je izrada projekta konstrukcije temelja i stupa vjetroagregata. Modeliranje konstrukcije izvršeno je u računalnom programu Tower 7. Svi konstruktivni elementi su proračunati prema važećim propisima Eurocode-a i Nacionalnim dodacima. Konstrukcija se sastoji od čeličnog stupa proračunatog u segmentima te armiranobetonskog temelja izvedenog monolitnom izvedbom. Stup vjetroagregata je čelični cjevasti, dok je temelj armirano betonski, kružnog oblika.The purpose of this paper is to develop structural design of a wind turbine foundation and tower. The structural modeling was performed in program Tower 7. All structural elements are calculated according to the applicable regulations of Eurocode and National Annexes. The structure consists of a steel tower calculated in segments and a reinforced concrete foundation made in a monolithic design. The wind turbine tower is a steel tubular tower, while the foundation is made of reinforced concrete in a circular shape

Analiza polikloriranih dibenzo-p-dioksina i polikloriranih dibenzofurana u tlu i sedimentu

This review presents methods for the analysis of polychlorinated dibenzo-p-dioxins (PCDDs) and polychlorinated dibenzofurans (PCDFs), called dioxins, in soil and sediment. These compounds are produced as by-products of different combustion processes, and because of their persistency and toxicity they present a threat for animal and human health. Due to their high organic matter content, soil and sediment can accumulate dioxins and have become important secondary emission sources. Determining dioxins in these samples is complex because dioxins are present in trace levels and have to be separated from interferences whereas other classes of organic contaminants are present in higher concentrations. After sampling, follows extraction of compounds with a suitable solvent, extract clean-up from unwanted compounds, and qualitative and quantitative analysis. At the end of this review, we gave levels of PCDD/PCDFs found in soil and sediment samples.U ovom je radu prikazan pregled postupaka analize polikloriranih dibenzo-p-dioksina (PCDD) i polikloriranih dibenzofurana (PCDF), koji se skraćeno nazivaju dioksini, u tlu i sedimentu. Navedeni spojevi nastaju kao nusprodukti u raznim procesima spaljivanja, a zbog svoje postojanosti i toksičnosti opasni su za zdravlje ljudi i životinja. Tlo i sediment zbog visokog sadržaja organske tvari mogu akumulirati dioksine te na taj način postaju važni sekundarni izvori njihove emisije. Analitički postupak određivanja dioksina u takvim je uzorcima složen jer se analit, prisutan u tragovima, mora odvojiti od interferencija, ali i drugih klasa organskih onečišćivala, prisutnih u puno višim koncentracijama. Nakon skupljanja uzorka slijedi ekstrakcija spojeva odgovarajućim otapalom, pročišćavanje ekstrakta od neželjenih spojeva te kvalitativna i kvantitativna analiza. Na kraju ovoga preglednog rada dane su razine PCDD-a i PCDF-a nađene u uzorcima tla i sedimenta

Measuring non-commercial tourism traffic in Croatia: Challenges of using administrative data

National statistical authorities are under pressure to provide reliable and readily accessible data with minimum costs and respondent burden. To this end, a use of administrative data, defined as those not primarily collected for statistical purposes, is increasingly encouraged to supplement sample and census surveys. In this paper, a possibility to produce new statistics by combining several sources where at least one is the administrative data is tested. This exercise was applied to measure a volume of tourists (residents and non-residents) staying in non-commercial accommodation facilities in Croatia. Four data sources were analysed: (i) administrative data from eVisitor system, a unique online central information system for tourists registration in Croatia that provides insights into tourist traffic and accommodation capacities (commercial and non-commercial), (ii) Croatian Bureau of Statistics Survey on Tourist Activity of the Croatian population, that provides information on number of domestic trips and nights in commercial and non-commercial accommodation establishments, (iii) Croatian National Bank Survey on foreign visitors in Croatia, that estimates number of foreign tourist nights in Croatia in, both, commercial and non-commercial type of accommodation, and (iv) administrative data from Tax Register on paid taxes on second homes – holiday houses and apartments. The results clearly demonstrated that two survey-based data sources and the administrative one regarding the second homes taxes had not provided a quality foundation to improve the current estimations of tourist traffic in non-commercial accommodation provided by the eVisitor system

INFLUENCE OF THE REMAINS OF TOTALITARIAN PRACTICE ON THE REPRESSIVE STATE INSTITUTIONS WITH ECONOMIC CONSEQUENCES

Transition represents a comprehensive process of structural changes and transition "from socialism to capitalism", i.e., the return to the market economy and the civil democracy. The transition process includes changes in all segments of society, especially in the reform of the political system. As a worldwide process it has begun in the \u2790s of the last century and it is still present in Bosnia and Herzegovina. The transition processes include a wide range of social and political changes, which are particularly obvious in the case of Bosnia and Herzegovina. In fact, not caring for the transition, for the need to change legislative framework in the first place, as well as existing institutions, various political options limitand restrain changes in social awareness. That all lead to the strengthening of the influence of particular interest groups, which ultimately prevent the completion of structural reforms, which have economic consequences for the whole country. In this context, the repressive state institutions without a clear vision and goal and without respect for the law and its own acts, perform activities associated with the various political options, while they have no responsibility for damage caused by such acts, both, individually to persons and to the community in general

Phytoaccumulation of heavy metals from the soil using hemp (Cannabis sativa L.)

Konoplja (Cannabis sativa L.) je jednogodišnja, zeljasta biljka iz porodice konoplji (Cannabaceae), roda Cannabis. Vrsta Cannabis sativa ima tri podvrste: Cannabis sativa L. ssp. sativa, Cannabis sativa L. ssp. indica, Cannabis sativa L. ssp. ruderalis. Porijeklom je iz središnje Azije. Industrijska konoplja (Cannabis sativa L.) se stoljećima proizvodi za dobivanje vlakna i sjemena. Ciljevi ovog istraživanja su utvrditi mogućnost akumulacije teških metala iz tla korištenjem četiri sorte konoplje (Fedora 17, Fibrol, Futura 75 i Santhica 27) pri alkalnoj i kiseloj reakciji tla, te provjeriti hipotezu je li konoplja hiperakumulator teških metala. Na usvajanje teških metala (Cd, Cu, Ni, Pb, Zn, Cr, Hg, Co, Mo i As) mjerenih u korijenu konoplje, stabljici i listu, u najvećoj je mjeri utjecala reakcija tla (pH). Temeljem ovog istraživanja utvrđeno je da se sorta Fibrol može koristiti za uklanjanje teških metala iz tla. Nadalje, konoplja je pokazala sposobnost uklanjanja najvećih količina cinka (do 27,1 kg ha-1) dok je kod ostalih elemenata zabilježen niži stupanj uklanjanja (<0.80 kg ha-1). Najveći koeficijent biološke apsorpcije u alkalnom tlu imala je sorta Fibrol za molibden (BAC = 2,65) dok je u kiselom tlu imala Fedora 17 za kadmij (BAC = 16,1). Budući da teški metali u sjemenu ograničavaju upotrebu konoplje u prehrambene svrhe, oni ne utječu na kvalitetu vlakna. Takva se kontaminirana vlakna mogu koristiti u proizvodnji kombiniranih materijala ili proizvodnji energije u kogeneracijskim postrojenjima.Hemp (Cannabis sativa L.) is annual plant from Cannabaceae family. Cannabis genus consists of one species Cannabis sativa, and three subspecies; Cannabis sativa L. ssp. sativa, Cannabis sativa L. ssp. indica, Cannabis sativa L. ssp. Ruderalis. Originally from Central Asia. Industrial hemp (Cannabis sativa L.) has been manufactured for it's fiber and seeds for centuries. The objectives of this research were to determine the possibility of accumulation of heavy metals from the ground using four strains of hemp (Fedora 17, Fibrol, Futura 75 and Santhica 27) at different soil reaction values, and to verify the hypothesis of hemp being hyperaccumulator of heavy metals. The pH values of soil were the main factor affecting he adoption of the tested metals (Cd, Cu, Ni, Pb, Zn, Cr, Hg, Co, Mo and As) measured in the roots of hemp, stems and leaves. Based on this research it is concluded that the Fibrol variety can be used to remove heavy metals. Furthermore, hemp showed the ability to remove the largest amounts of zinc (up to 27.1 kg ha-1) while other elements had a lower degree of removal (<0.80 kg ha-1). Moreover, the highest degree of absorption in the alkaline soil had the Fibrol variety (Mo - BAC = 2.65) while in the acidic soil it had Fedora 17 (Cd - BAC = 16.1). Since heavy metals in the seed limits the use of hemp for nutritional purposes, they do not affect fiber quality. Such contaminated fibers can be used in the production of combined materials or energy production in cogeneration plants

ROMANIAN LABOUR MIGRATION IN EU AND ITS IMPLICATIONS ON ROMANIAN COMPANIES

Romania is currently facing a labour crisis that has not ever known. The phenomenon is not new but has increased gradually so that companies operating in Romania encounter more difficulties in finding staff required for their activity. The reasons for this phenomenon are economic, plus the lack of national policies, that encourage young and skilled workforce to migrate. The article approach the migration of labour from Romania and focus on how this phenomenon affected companies\u27 activities and solutions they initiated to counter the impact of the phenomenon