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The paper analyses the developments of the labour market policies in Montenegro from the perspective of social investment. Montenegro is a candidate country for the European Union membership and there is a need of harmonisation of normative framework. Social investment is gaining considerable attention of EU policy makers and is positioned highly on the social policy agenda. Consequently, the paper examines whether Montenegrin labour market performs in the similar fashion as in the EU. The aim of the research is to show whether Montenegrin labour market will be ready for the accession, both normatively and in practice. Active labour market policies are in the focus of the paper, as they are one of the most representative social investment measures in this policy area. There is also an analysis of two specific policies: so called "mothers' allowances" and the "apprentice programme". This analysis shows that Montenegro has a good starting point in terms of the legal framework it has enacted, but in practice, social investment is not present. [ABSTRACT FROM AUTHOR]

This paper examines the effect that endangered species regulation has on natural resource development. Specifically, we use data from competitive auctions to estimate the effect that land-use regulation protecting endangered caribou in the Canadian province of Alberta has on the price producers pay for the right to extract oil. We exploit a regression discontinuity design to evaluate how prices differ along regulation boundaries that constrain resource development. The auction format and the regulation discontinuity allow us to measure the total cost of the regulation. We find that producers pay 24% less on average for oil leases that are regulated and that the total net present value cost of the regulation exceeds $1.15 billion for leases sold between 2003 and 2012, all of which is borne by the government. In spite of these costs, the populations of endangered caribou remain in widespread decline. [ABSTRACT FROM AUTHOR]