Energy use, CO2 emissions and economic growth – causality on a sample of SEE countries

The primary aim of this study is to examine the causal relations between energy use, CO2 emissions and economic growth, using the examples of Greece and Bulgaria. The empirical evidence on South Eastern Europe (SEE) considering this research is quite sparse, so there is merit in the analysis of the paper. Vector Error Correction model with annual data from 1980 to 2010 has been used in order to determine potential causality between the variables. The empirical findings indicate that, in the long run there is causality from energy and CO2 emissions to economic growth in both countries. In the short run, there is no causality between energy and economic growth neither on Greece nor on Bulgaria. Based on the results of the analysis certain recommendations can be presented considering energy policy in the long run, through the orientation to saving energy could have negative impact on economic growth

Utjecaj ekonomskog rasta na regionalne disparitete: empirijska evidencija iz OECD zemalja

In the context of growing regional disparities which exist both in developed and developing countries, the primary goal of this paper is to examine the influence of total economic activities on regional disparities. In the research panel sample of the selected OECD countries has been used with the data for the time period from 2000 to 2011. The empirical analysis reveals that there is a long-term relationship between the variables, that economic growth and regional disparities move in the same direction and that the impact of economic growth on regional disparities is statistically significant. Consequently, in order to reduce regional disparities, it is necessary to increase the share of less developed regions in the total output. In this matter, it should be helpful to adequately coordinate policies about regional development from all levels of governance.U kontekstu sve većih regionalnih razlika koje su prisutne, kako u razvijenim, tako i u zemljama u razvoju, osnovni cilj ovoga rada je ispitati utjecaj ukupne gospodarske aktivnosti na regionalne disparitete. U radu je korišten panel uzorak odabranih OECD zemalja, a vremensko određenje je 2000. – 2011. U okviru empirijske analize utvrđeno je da postoji dugoročna povezanost varijabli, kao i da se gospodarski rast i regionalne razlike kreću u istom smjeru, i da je taj utjecaj snažan i statistički značajan. Shodno tome, u cilju smanjenja regionalnih dispariteta neophodno je da slabije razvijene regije sudjeluju s većim postotkom u ukupnom ostvarenom društvenom proizvodu, u čemu će pomoći adekvatna koordinacija politika usmjerena prema regionalnom razvoju na svim razinama vlasti

ANALYSIS OF BUSINESS ENVIRONMENT USING THE MULTI-CRITERIA APPROACH – CASE OF BALKAN’S TRANSITION ECONOMIES

Due to the lack of their own financial resources, attracting the foreign direct investment (FDI) isthe main prerequisite for transitional economies in order to increase production and employment, sothat they can ensure the long term sustainable economic growth. In addition, the foreign directinvestment is an important instrument for the economy restructuring, based on market principles.However, achieving this goal is not simple at all. In order to attract foreign investors, it is necessaryto create a favorable business environment in transition countries, which requires a number ofeconomic, institutional, political and other reforms. The aim of this paper is to point out the mainfactors attracting foreign direct investment and, by using the multi-criteria approach, to rank theBalkan’s transition economies depending on the preferences of investors taking into account certaincomponents of the business environment

Brachistochronic rigid body general motion

Razmatra se minimizacija vremena kretanja krutog tela uz neizmenjenu vrednost mehaničke energije. Za generalisane koordinate uzete su koordinate centra masa i Ojlerovi uglovi, čije su vrednosti zadate na početku i kraju intervala kretanja. Zadatak je rešen primenom Pontrjaginovog principa maksimuma. Numeričko rešenje dvotačkastog graničnog problema dobijeno je metodom konačnih razlika za sisteme običnih diferencijalnih jednačina. .The time interval minimization of rigid body motion with constant mechanical energy has been considered in this paper. Generalized coordinates are Cartesian's coordinates of mass center and the Euler's angles, which are specified at the initial and the final position. The problem has been solved by the application of the Pontryagin's principle. Finite difference method has been applied in order to obtain the solution of the two-point boundary value problem.

Brachistochronic rigid body general motion

Razmatra se minimizacija vremena kretanja krutog tela uz neizmenjenu vrednost mehaničke energije. Za generalisane koordinate uzete su koordinate centra masa i Ojlerovi uglovi, čije su vrednosti zadate na početku i kraju intervala kretanja. Zadatak je rešen primenom Pontrjaginovog principa maksimuma. Numeričko rešenje dvotačkastog graničnog problema dobijeno je metodom konačnih razlika za sisteme običnih diferencijalnih jednačina. .The time interval minimization of rigid body motion with constant mechanical energy has been considered in this paper. Generalized coordinates are Cartesian's coordinates of mass center and the Euler's angles, which are specified at the initial and the final position. The problem has been solved by the application of the Pontryagin's principle. Finite difference method has been applied in order to obtain the solution of the two-point boundary value problem.

The effect of presidential election in the USA on stock return flow – a study of a political event

The subject of this paper is to determine the statistical significance of abnormal return that appeared on the New York Stock Exchange after the presidential election in the USA in November 2012. The analysis is focused on securities of the financial institutions listed on the New York Stock Exchange, whereby 85 companies have been included. For the purposes of the analysis a standard methodology of event study has been used. In general, parametric tests show a statistically significant negative impact of the event on stock return, whereby with the nonparametric tests there is no consistent estimation. This paper provides an interpretation of the results

The effect of presidential election in the USA on stock return flow – a study of a political event

The subject of this paper is to determine the statistical significance of abnormal return that appeared on the New York Stock Exchange after the presidential election in the USA in November 2012. The analysis is focused on securities of the financial institutions listed on the New York Stock Exchange, whereby 85 companies have been included. For the purposes of the analysis a standard methodology of event study has been used. In general, parametric tests show a statistically significant negative impact of the event on stock return, whereby with the nonparametric tests there is no consistent estimation. This paper provides an interpretation of the results

Adding zeolite 'minazel-plus' in feeding Oncorhynchus mykiss (Walbaum) and its influence on morphometrical characteristics

The influence of natural zeolite was analyzed, as a food additive applied in a concentration of 0,8% on morphometrical characteristics and basic production index of Rainbow Trout Oncorhynchus mykiss (Walbaum) breeding. By analyzing the obtained results it is found that the presence of zeolite in the trout food has a positive effect with a statistical significance (p<0,05 ) on all analyzed morphometrical indexes of the fish growth rate, on their final body weight, total body length, body length and height, as well as their growth. Including zeolite in the trout mixture had a stimulative effect on the accomplished results of the basic production index of the condition factor (CF), the coefficient of total growth (CTG) and production index (PI) in comparison with the Co-group of fish that are fed without adding zeolite to food

Quality improvement of fishery water using natural zeolite and dynamics of adsorption of hydrological toxicants

The adsorption capability of the natural mineral zeolite of domestic origin, on chemical parameters in water used for the intensive breeding of the Rainbow Trout was investigated in practical and laboratory conditions. It was established on the grounds of an analysis of the obtained results that there is a statistically significant adsorptive power and selectivity of zeolite towards: ammoniac (p<0.01), nitrates (p<0.01), nitrites (p<0.05), and total hardness of water (p<0.05). The applied zeolite contributed to the improvement of the ambient conditions in the trout pond, and it also had a positive ecological effect on the filtration of hydrological toxicants of the pond water output