ЗБОРНИК РАДОВА ЕКОНОМСКОГ ФАКУЛТЕТА У ИСТОЧНОМ САРАЈЕВУ

THE INFLUENCE OF COLONIALISM ON THE ECONOMIC DEVELOPMENT OF THE NEWLY INDUSTRIALIZED ASIAN COUNTRIES

Dejana Gajinov — 2023-12-20

Since the 1980s, a widespread view has arisen in the literature that the economic success, known as the Economic Miracle, of Taiwan and the Republic of Korea since the 1960s has been due, in part at least, to the legacy of Japanese colonialism, but also that the region of East/Southeast Asia was generally more fortunate than other colonized countries, because especially Japanese, even Dutch and American, and British colonialism were more or less developmental. That is, they laid the foundations for the future growth and development of the newly industrialized Asian countries. This paper attempts to determine the actual extent of the contribution of each, comparing the Japanese economic achievements in both Taiwan and Korea with those of (primarily) the Dutch, then Americans, British, Spanish and Portuguese in their East/Southeast Asian colonies. The paper examines the record of economic growth, development of agriculture and industry, infrastructure and all structural changes across the colonies and dependent territories. It also discusses policies related to government revenue and expenditure, and trade. The paper also looks at some nonmonetary indicators related to living standards, including education. The main conclusion is that the facts do not wholly support the case of Japanese developmental colonialism but that there are drastic differences in the colonial legacy among the colonizing countries of the East/Southeast Asian region. Also, what is indisputable is that every colonizer, including Japan, primarily thought about their interests and not about the development interests of their colony.

TESTING KALDOR’S FACT: EMPIRICAL EVIDENCE FROM EUROPEAN COUNTRIES

Predrag Trpeski — 2023-12-20

This paper discusses the functional distribution of income, as a consequence of decoupling phenomenon between workers’ compensation and labor productivity. This issue has been observed since the mid- 1970s in most developed economies, resulting in a trend of decreasing labor income in national income or GDP. Despite conventional economic theory predicting a proportional increase in workers’ income with increases in labor productivity, empirical results suggest that this relationship is not being realized. The study analyzes the distribution of labor income and capital income in relation to GDP in European countries, in order to gain insight into the conditions and trends of labor income and to evaluate the functional distribution of income at the level of an individual country. The paper provides a detailed analysis of labor share on the example of all countries in Europe and compares countries to determine the direction and degree of trend of the labor share. The results highlight the need for further research on this topic and provide insight into the factors contributing to the decoupling of productivity from workers’ compensation.

EVALUATION OF TOURISM AT RURAL AREAS IN THE EUROPEAN UNION

Danijela Pantović — 2023-12-20

Tourism is the industry most affected by the pandemic. However, one form of tourism most successfully "swam" in the flood that hit the tourism industry. It is rural tourism. In this paper, the aim is to assess the capacity and occupancy of rural tourism in EU countries and selected candidates. In order to assess the set goal, the evaluation of tourism in rural areas is analyzed through indicators such as: (1) number of facilities, bedrooms and beds in tourist accommodation, (2) nights in rural tourist accommodation (absolute number) and (3) nights in rural tourist accommodation (relative number). Special emphasis is placed on the time period before the pandemic and the time period after the pandemic. The results show a slight reaching of the level from 2019.

ANALYSIS OF THE SITUATION IN THE ORGANIC PRODUCTION SEGMENT IN BOSNIA AND HERZEGOVINA AND THE REGION

Zijada Rahimić — 2023-12-20

The aim of this paper is to identify the basic characteristics of organic production in the agricultural sector of Bosnia and Herzegovina in terms of determining the scope, trends and flows in the selected time period. In terms of competitiveness, special emphasis is placed on the position of Bosnia and Herzegovina in the region. That is, a comparative review with the countries of the region according to the available indicators of organic production within the data of the Research Institute for Organic Production (FiBL). The analysis is focused on the changes of relevant indicators for Bosnia and Herzegovina and the countries of the region in the period from 2010 to 2020. The analysis was made using methods of dynamic analysis (index numbers, average annual rate of change, trend) and comparison methods. The results of the research can be a starting point for policy makers in support of the development of the agricultural sector.

OPENNESS TO TRADE AND ECONOMIC DEVELOPMENT OF TRANSITION ECONOMIES

Jelena Trivić — 2023-12-20

The purpose of this paper is to investigate the connection between countries' openness to international trade and economic development, i.e. the standard of living of итс citizens. Given that this is a frequently researched question among economists with still open conclusions, research on this topic always sheds some new light and contributes to new conclusions on that aspect. The methodology used in the paper is a correlation analysis, where we compared different measures of openness with economic development measured by GDP per capita expressed in purchasing power parity. The sample on which we performed the analysis is 16 countries, some of which have completed the transition process like the countries of so-called New Europe, and some are still stuck in transition, such as our countries of our region. Each of these countries continues to be subject of an analysis of transition progress in the EBRD’s Transition Report. The results clearly show a strong and positive correlation between openness to international trade flows and economic development, with this relationship being stronger if we look at export flows than import flows. The conclusion is that openness has no alternative, and that the countries of the region must strengthen their export base and export performance in order to reduce the gap in relation to the countries of New Europe, for which we can easily say that have successfully completed the transition process.