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The trend of development of financial innovations, deregulation and self-supervision of banks in developing countries, the example of the Republic of Serbia can be followed up on already developed attitudes that have evidently dominated the last 30 or so years in the world. Namely, the use of new financial products was largely disastrous for the world economic and financial order. Such an observation from the macro-economic aspect had a bad effect, first of all, on a large number of weak, underdeveloped economies, such as the Republic of Serbia. The influence of the leading dominant country in the world since the mid-1980s, the USA, has had a negative impact on the economic systems of transition countries. This primarily refers to the negative impact of uncontrolled money printing, which in turn had a fundamental impact on the initiation of a chain of speculative transactions in the USA and then on the rest of the world. In addition, in the attempt to regulate the monetary policy in the USA, another big mistake was made, which was reflected in the support of the so-called self-control of banks. This is how the reality emerged in the most powerful economy, which has achieved relatively relaxed legal regulations for the control of hedge funds, in the 90s of the 20th century, which resulted in the sudden enrichment of these funds.

This study examines how recent crises have affected the capacity of the Serbian financial sector to service its debt. The research, which covers the years 2014 to 2022 and focuses on the financial and economic difficulties faced by the industry after the crisis, uses the debt ratio as its primary dependent variable and several selected macroeconomic and microeconomic indicators as independent variables. The aim of the study is to show how resilient and adaptable the industry is to challenging economic circumstances by examining the dynamics of indebtedness in the financial sector during periods of crisis. The results of this study will improve the understanding of the capacity of the financial sector to sustain debt during periods of economic crisis and will provide insight to policymakers, industry participants, and financial institutions regarding possible approaches to increase financial stability and longevity in this domain.

The crisis in pension systems is present in all countries worldwide. In European Union countries, it is evident that the design of pension systems varies significantly among member states, and generating distinctions between them leads to their different sustainability. The main factors influencing the crisis in pension system functionality are cited as the pronounced longer trend of life expectancy than expected, global economic crises, high unemployment rates, globalization, competition in the pension insurance sector, forms of pension benefit payments, as well as the structure of pension expenditures. This paper analyzes the demographic challenges of the pension system of the Republic of Serbia, focusing on the structure of pension expenditures as the dominant and most important category of expenditures of the Pension and Disability Insurance Fund. The paper aims to highlight the most important factors of pension system sustainability. The research results have shown statistically significant differences in average pension amounts among different categories of pension beneficiaries, thereby endangering the financial stability of the pension system of the Republic of Serbia. In the final part of the paper, possible directions for reforming the pension system of the Republic of Serbia are indicated.

The main aim of this study is to highlight the main challenges of green transition in Serbia. The key challenges were achieving energy efficiency, and production of clean energy. Although, the majority of study in the field have been explored developed countries, there is growing interest of researchers in an issue of renewable energy in developing economies. Legal framework has been analyzed. The results showed the great potentials of Serbia in renewable energy resources, as well as pointed to significant challenges in wider exploration. Regional collaboration named WB6 can be framework for faster sustainable development of all Western Balkan countries.

Current events in the world, the most dangerous of which are the SMO in Ukraine and the war in the Middle East, are leading the world to a new economic reality and major changes. The conflict in Ukraine is essentially a conflict between Russia and the West, and a new international order is emerging in light of a growing Russian-Chinese axis facing a declining West. The recovery from the COVID-19 pandemic lost momentum in 2022, regardless of employment stabilization. The quality of jobs offered has improved in some dimensions, but real wages are falling significantly in almost all OECD countries despite an increase in nominal wage growth. But that's why in most of those countries, there was an increase in profits, often more than nominal wages. Nominal minimum wages try to keep pace with inflation, with the high risk that any real growth could quickly disappear if inflation remains high. The goal of the research is to present the situation in the global market, with special reference to the trend of wages and inflation in the EU, as well as the presentation of the situation in Serbia, according to the same parameters. The paper will use the deduction method. Materials from scientific journals and primary sources were used in the presented research, using the method of content analysis. An appropriate statistical regression method was applied. The hypothesis put forward in the paper is that the nominal increase in wages is a consequence of the inflation increase. It is expected that the research will confirm the hypothesis.

Exceptional global changes in the last few years have led to the emergence of a new economic reality that shapes all parts of the economy and society. The latest technological and global trends have led to a strong increase in the importance of industrial policy. The Fourth industrial revolution, globalization and human capital are the main drivers of today's economic development. Environmental, digital and social transitions shape new types of jobs, services and business models. The changing geopolitical environment greatly affects the industry. The confluence of the COVID-19 pandemic and the Russian-Ukrainian conflict ultimately marked a turning point for the global economy as these key events laid bare economic vulnerability and at the same time made global political tensions worse. Global market competition, protectionism, market disruptions and trade tensions are increasing challenges. Their combined influence gives a new direction to the development of industrial policy and encourages the formation of a system of public instruments to support priority industrial areas. Policymakers in developing economies are increasingly adopting green industrial policies based on the production of green technologies and services. The main goal of the research in this paper is to identify the key features of the new reality that determine the necessity of industrial policy's approach to new trends. Understanding the major changes in the economic environment will help countries and businesses navigate global economic uncertainty with active industrial policies.

The aim of the paper is to show the elements of a strategic approach to the sustainable development of villages in the Republic of Serbia. The subject of the study is the consideration of demographic, social and natural factors that are important for the survival and development of rural areas in Serbia, focusing on the main challenges and possible directions of agro-economically sustainable development. Extreme heat waves are occurring more frequent due to natural fluctuations in global temperature and careless human behavior. These undesirable climate changes have a direct negative impact on the environment. We build on previous key findings and focus on strategic considerations for sustainable rural and agricultural development in times of severe climate change. Our two main arguments are that agricultural insurance in Serbia should follow the standards and trends of economically developed countries in the market economy in order to mitigate the risks of climate change. A growing number of insurance companies, a more active role of the government and educating farmers about the many advantages that insurance offers, but also different forms of insurance products can have a strong positive impact on the agricultural sector. The second argument refers to non-market and heterodox approaches that draw on critical agricultural studies and critical development studies by looking for other post-growth economic frameworks for the future.

The current architecture of the international economic system is undergoing significant changes in favor of countries whose economies have not been dominant at the global level. This particularly applies to the BRICS (Brazil, Russia, India, China) which possesses significant political and economic potential. Considering the increasing interest of a growing number of countries in joining this bloc, it can be concluded that BRICS represents a new economic reality that cannot be ignored. The aim of this study is to highlight the importance and role of BRICS countries in the international financial system. The subject of the paper includes the analysis of monetary and fiscal indicators of BRICS countries for the period 2006-2023. The obtained results show long-term favorable trends in monetary and fiscal indicators, indicating that BRICS countries can be identified as economies with significant potential for growth and development.

The need for research arose due to the rapid development of information technologies, robotization, digitization of business, economic, health (Covid-19), energy and other crises, as well as changes in the demographic structure of the workforce. These changes have led to the increasing application of various forms of flexible work arrangements, and special emphasis is placed on employees in the IT sector who, due to the nature of their work, have a greater possibility of application. The work aims to examine the level of application of different types of flexible work arrangements according to Cranet research methodology and perceptions according to Startit research on a sample of 146 highly educated millennials who belong to the private IT sector in the Republic of Serbia. The results indicate that flexi-time records the highest level of application, that teleworking during the Covid-19 pandemic records the highest level of application by comparing before, during and after the pandemic, as well as that employees are comfortable with this way of working, but there are also certain problems when applying such that loneliness occurs while working from home, more precisely that they miss their colleagues, that employees have to take care of children and work more than before. To solve the mentioned problems, IT companies must adapt various forms of flexible work arrangements to establish a balance between work and private life and positively influence on attitudes and behaviors of young employees.

Globalization is a process that is closely related to the development of new technologies that open the possibility for new types of business. There is a dynamic development of business, new ones types of trade, which raises the question of its impact on environment. With the development of new business business formats of trade - electronic trade the attention of marketing-management more and more also occupy additional questions, such as: how develop the concept of sustainable development on the basis balanced goals (economic, environmental and ethical). Social responsibility comes to the fore business, marketing-management strategy trading company created on the platform environmental awareness, taking into account the impact business on sustainable development, on the one hand, and impact novelties that technology brings with it (scientific technical progress), on man, on the other hand. For a more objective view of the impact of digital innovations on the development of society as a whole is necessary look at the effects that ensure how personal existence as well as social reproduction consumer, a key stakeholder in the marketing trade strategy and society as a whole. It requires it increasingly intensive involvement of consumers in creation marketing-management of trade strategies in under the conditions of the "new-digital-Web/Internet" economy. In this way, they are enabled to choose and create e-purchase and delivery options products, which leads to the development of competitive recognition and sustainability of electronic commerce. Bearing in mind the facts-trends presented above to the development of trade on the information platform communication technologies (ICT), research the niche of the (co)author of this paper will be directed in the direction analysis of interdependence (of the new "triangle"), between trade, ICT and sustainable business. All more turbulent modern environment leads to the issue of survival and further development of humanity, a t

The COVID-19 pandemic caused major changes in the way employees in almost all areas of work performed their working tasks. This pandemic also had health and safety implications for them, causing a natural fear for their health and even their lives. The employees in the education system were not exempt. The fear of COVID-19, however, is associated with many negative impacts. One of the work-related attitudes on which the impact of fear of COVID-19 is important to examine is organisational commitment, as it has an influence on many other employees’ attitudes and behaviours at the workplace and, in the end, on job performance. Since there is evidence that people differently face the fear in general, the aim of this paper is to find out whether there are differences in organisational commitment in the state of the fear of the COVID-19 pandemic among the teaching staff depending on socio-demographic variables such as gender and marital status. To realise the above objective, empirical research on a sample of 164 respondents was conducted. Descriptive statistics and a two-factor MANOVA were used to test the hypothesis. The research results showed that there is a significant effect of gender and marital status on the relationship between fear and organisational commitment among the teaching staff. These results could serve as a base for tailoring support for employees in the education system when faced with challenging and threatening working conditions that may occur in the future.

A significant shift occurs in the economic trajectory of nations as they transition from a state characterized by limited prosperity, high child mortality rates, and high fertility to a phase marked by increased prosperity, reduced child mortality, and lower fertility levels. Following a review of the economic literature on the connection between demographics and economics, this paper aims to explain the correlation between Serbia's demographic patterns and economic development since 2000. It demonstrates that this transition is best understood through a developmental cycle involving child mortality rates, fertility rates, and nominal GDP. Fertility rates tend to rise alongside GDP growth, while the child mortality rate is closely linked to GDP levels. However, the correlations between fertility rates and child mortality are comparatively weaker. The paper showcases how this research can be utilized to assess policy measures and establish more precise, country-specific development targets.

The Central Balkans are a key biogeographical region in Southern Europe, influenced by a central European-Mediterranean climate, which acted as a refugium for flora and fauna, and favored the dispersion of Neanderthals and migration of modern human populations during Late Glacial Period. This study presents pollen analyses of sediment and hyaena coprolites from Pešturina Cave in Serbia to reconstruct the vegetation landscapes faced by Balkan Neanderthals and early Anatomically Modern Humans between MIS 5e-3. Between MIS 5e-5c (archaeological layers 4c and 4b) and MIS 5b-5a (layer 4a), semi-forested environments prevailed, characterized by Pinus, deciduous Quercus, Tilia and other angiosperm woody taxa, accompanied by heliophytes such as Artemisia and Poaceae. During MIS 4-3 (layers 3-2), the vegetation was dominated by Artemisia-Poaceae steppes with Quercus patches, conifers and legumes. Overall across the sequence, pollen assemblages are highly diverse and include a number of deciduous trees and sclerophylls. In addition, the occurrence of several herbaceous taxa reinforces the view that the Balkans were outstanding for endemicity. Neanderthals and early Upper Palaeolithic hominins lived in a highly diverse refugium, offering multiple opportunities for survival during the warm interstadials and, more critically, the cold stadials of the Pleistocene.

Financial development, as an inseparable part of economic development, entails the establishment and expansion of financial institutions, instruments, and markets. Developed financial infrastructure facilitates capital mobilization, helps in its efficient allocation, contributes to risk reduction, and facilitates the turnover of goods and services. Consequently, the development of the financial system acts as a catalyst for economic growth, raising living standards, reducing poverty, and enhancing societal economic well-being. Financial development is a dynamic process through which the financial system of a country evolves and transforms over time. In the countries of the Western Balkans, the first step towards financial development was the reform of the banking sector. The transformation of the banking sector was one of the most important aspects of the transition process from centrally planned to market economy. In this regard, the aim of this paper is to identify similarities and differences in financial development among Western Balkan countries through a comparative analysis and to highlight which segment of the financial system represents an obstacle to faster development in these countries. Generally accepted indicators of financial development, ensuring comparability across countries, include measures of size, activity, efficiency, and stability of the financial system.

Over the last 10,000 y, humans have manipulated fallow deer populations with varying outcomes. Persian fallow deer (Dama mesopotamica) are now endangered. European fallow deer (Dama dama) are globally widespread and are simultaneously considered wild, domestic, endangered, invasive and are even the national animal of Barbuda and Antigua. Despite their close association with people, there is no consensus regarding their natural ranges or the timing and circumstances of their human-mediated translocations and extirpations. Our mitochondrial analyses of modern and archaeological specimens revealed two distinct clades of European fallow deer present in Anatolia and the Balkans. Zooarchaeological evidence suggests these regions were their sole glacial refugia. By combining biomolecular analyses with archaeological and textual evidence, we chart the declining distribution of Persian fallow deer and demonstrate that humans repeatedly translocated European fallow deer, sourced from the most geographically distant populations. Deer taken to Neolithic Chios and Rhodes derived not from nearby Anatolia, but from the Balkans. Though fallow deer were translocated throughout the Mediterranean as part of their association with the Greco-Roman goddesses Artemis and Diana, deer taken to Roman Mallorca were not locally available Dama dama, but Dama mesopotamica. Romans also initially introduced fallow deer to Northern Europe but the species became extinct and was reintroduced in the medieval period, this time from Anatolia. European colonial powers then transported deer populations across the globe. The biocultural histories of fallow deer challenge preconceptions about the divisions between wild and domestic species and provide information that should underpin modern management strategies.

The superb image quality, stability, and sensitivity of JWST permit deconvolution techniques to be pursued with a fidelity unavailable to ground-based observations. We present an assessment of several deconvolution approaches to improve image quality and mitigate the effects of the complex JWST point-spread function (PSF). The optimal deconvolution method is determined by using WebbPSF to simulate JWST’s complex PSF and MIRISim to simulate multiband JWST/Mid-Infrared Imager Module (MIRIM) observations of a toy model of an active galactic nucleus (AGN). Five different deconvolution algorithms are tested: (1) Kraken deconvolution, (2) Richardson–Lucy, (3) the adaptive imaging deconvolution algorithm, (4) sparse regularization with the Condat–Vũ algorithm, and (5) iterative Wiener filtering and thresholding. We find that Kraken affords the greatest FWHM reduction of the nuclear source of our MIRISim observations for the toy AGN model while retaining good photometric integrity across all simulated wave bands. Applying Kraken to Galactic Activity, Torus, and Outflow Survey (GATOS) multiband JWST/MIRIM observations of the Seyfert 2 galaxy NGC 5728, we find that the algorithm reduces the FWHM of the nuclear source by a factor of 1.6–2.2 across all five filters. Kraken images facilitate detection of extended nuclear emission ∼2 5 (∼470 pc, position angle; 115°) in the SE–NW direction, especially at the longest wavelengths. We demonstrate that Kraken is a powerful tool to enhance faint features otherwise hidden in the complex JWST PSF.

Being aware of the need to develop more efficient therapies against cancer, herein we disclose an innovative approach for the design of selective antiproliferative agents. We have accomplished the conjugation of a coumarin fragment with lipophilic cations (triphenylphosphonium salts, guanidinium) for providing mitochondriotropic agents that simultaneously target also carbonic anhydrases IX and XII, involved in the development and progression of cancer. The new compounds prepared herein turned out to be strong inhibitors of carbonic anhydrases IX and XII of human origin (low-to-mid nM range), also endowed with high selectivity, exhibiting negligible activity towards cytosolic CA isoforms. Key interactions with the enzyme were analysed using docking and molecular dynamics simulations. Regarding their in vitro antiproliferative activities, an increase of the tether length connecting both pharmacophores led to a clear improvement in potency, reaching the submicromolar range for the lead compounds, and an outstanding selectivity towards tumour cell lines (S.I. up to >357). Cytotoxic effects were also analysed on MDR cell lines under hypoxic and normoxic conditions. Chemoresistance exhibited by phosphonium salts, and not by guanidines, against MDR cells was based on the fact that the former were found to be substrates of P-glycoprotein (P-gp), the pump responsible for extruding foreign chemicals; this situation was reversed by administrating tariquidar, a third generation P-gp inhibitor. Moreover, phosphonium salts provoked a profound depolarization of mitochondria membranes from tumour cells, thus probably compromising their oxidative metabolism. To gain insight into the mode of action of title compounds, continuous live cell microscopy was employed; interestingly, this technique revealed two different antiproliferative mechanisms for both families of mitocans. Whereas phosphonium salts had a cytostatic effect, blocking cell division, guanidines led to cell death via apo

Europe is sometimes called the "old continent" because of its long and rich history. This nickname is also justified by the harsh truth that the process of depopulation in European countries is increasingly pronounced, just like the process of population aging. According to forecasts, in the next 50 years, the population of Europe will make up only 4% of the world's population. Serbia, like the countries in the region, is not spared from this growing trend of depopulation. Moreover, the population of Serbia belongs to the fastest-declining population in the world. With an average age of 43.8 years, it is one of the oldest in Europe. The 21st century is the century of aging, but also the century of migrations, which are somewhere in the low birth rate, brain drain, and accelerated aging of the population. The depopulation process in Serbia is dislocated differently and is more visible in rural and mountain areas, compared to urban areas. The average age of people in rural areas exceeds 65 years. The able-bodied population is mostly concentrated on the Belgrade-Novi Sad axis (developed north) due to better living and working conditions. Serbia did not deal with demographic policy in time and is now paying the price for it in economic, developmental and social terms. Since without human capital, any development, even economic, is not possible, the author tried to point out the concrete economic consequences that depopulation and demographic transition in Serbia gave birth to.

Overcoming crisis periods in business on the tourist market in Serbia is effectively overcome by using modern information and communication technologies. The development and use of these technologies enabled the broader application of electronic distribution channels that enable more comprehensive access to the market. This is particularly significant in the tourism industry due to sudden demographic changes and migration processes of tourists and employees in this propulsive business area. Travel agencies, as well as other entities in the tourist market, operate more and more intensively (even predominantly) using information and communication technologies. The effects of using personal computers, the Internet, global distribution, and reservation systems are multiple. They are manifested in the expansion of the market, the improvement of the placement of tourist products, increased business efficiency, cost reduction, strengthening competiveness, and the potential disintermediation of traditional travel agencies. This paper contains the summary results of research conducted in 2023 among travel agencies in Serbia on the impact of the most modern information and communication technologies on the tourism market in Serbia and its transformation from the perspective of business efficiency and competitiveness.

Ekonomski imperijalizam pogodovao je rastu problema zemalja sa nedovoljno razvijenim ekonomijama i produbljivanju tehnološkog jaza. U neregularnim uslovima, za strategijama tragaju i država i ekonomska struktura, generalno i selektivno, u zavisnosti od intenziteta poremećaja i oblastima dešavanja. Na malim geostrategijskim prostorima regionalna saradnja je ključ medjusobne stabilnosti i sopstvenog samostalnog razvoja. Kohezija regiona, odbrambeni je mehanizam protiv „darodavaca“ – multinacionalnih kompanija. Što je stepen ekonomskih autputa složeniji, to je potreba za razvojem različitih oblika proizvodne i poslovne saradnje poželjnija. Selekcija strategijskih izazova rezultat je ciljnih opredeljenja. Verovatnoća uspeha u nestabilnim uslovima korespondira sa usaglašenim interesima. Umrežavanje kao vid saradnje je i uvod u digitalizaciju. Postupnost je neizbežna, jer svaki nekontrolisani “skok” produbljuje neravnotežu. Pod naletom digitalizacije postepeno će nestajati tržište, kao što je tržište potisnulo feudalizam. Sposobnostima da se po osnovu složenog proizvoda distribuiraju poslovne aktivnosti, stvaraju se pretpostavke za regionalnom saradnjom. Resursi i prostor čine simbiozu., Economic imperialism favored the growth of the problems of countries with insufficiently developed economies and the deepening of the technological gap. In irregular conditions, both the state and the economic structure look for strategies, generally and selectively, depending on the intensity of the disturbance and the areas of occurrence. In small geostrategic areas, regional cooperation is the key to mutual stability and independent development. The cohesion of the region is a defense mechanism against "donors" - multinational companies. The more complex the level of economic outputs, the more desirable the need for the development of various forms of production and business cooperation. The selection of strategic challenges is the result of target determinations. The probability of success in unstable conditions corresponds to aligned interests. Networking as a form of cooperation is also an introduction to digitization. Gradualism is inevitablebecause every uncontrolled "jump" deepens the imbalance. Under the onslaught of digitization, the market will gradually disappear, just as the market suppressed feudalism. The ability to distribute business activities based on a complex product creates prerequisites for regional cooperation. Resources and space form a symbiosis.

We present a comprehensive analysis of elastic electron scattering from isoflurane in the intermediate energy range of 50-300 eV. This research is motivated by the significant impact of this molecule on global warming effects. We conducted this investigation through experimental measurements using a crossed-beam apparatus and covering a wide angular range from 25 to 125 degrees. Relative differential cross sections (DCSs) were obtained and subsequently normalized on an absolute scale by using the relative flow technique, with argon as the reference gas. These DCS values were then extrapolated and integrated to determine the experimental integral cross sections (ICSs). Additionally, we employed the independent atom model and the screening corrected additivity rule with incorporated Interference effects (IAM-SCAR+I) to calculate the theoretical differential and integral cross-sections. Remarkably, the calculated cross sections align closely with the experimental measurements across the entire energy and angular range. Furthermore, this study involved a comparison of the DCSs for isoflurane with previously published DCS values for two other volatile anesthetics, sevoflurane and halothane.