<abstract xmlns="http://www.w3.org/1999/xhtml">This paper presents an empirical investigation of a large number of potentially significant determinants of current account deficits in five EU candidate and potential candidate countries (Albania, Croatia, Macedonia, Serbia and Turkey) in the period 2005 Q1-2015 Q4. Using panel regression techniques we find that current account imbalances in the EU candidate and potential candidate countries are mainly determined by real GDP growth rate and the degree of trade integration. Other factors that have a significant impact on current account balances include relative per capita income, crude oil trade balance and level of financial development. Interestingly, the status of the observed country (an EU candidate or a potential candidate country) does not have any effect on the current account balance. It is expected that further economic and financial development of the EU candidate and pre-accession would encourage domestic saving and contribute to improvement of their current account positions.</abstract>

Current Account Deficits in the EU Candidate and Potential Candidate Countries: A Panel Analysis

<abstract xmlns="http://www.w3.org/1999/xhtml">Competitiveness of a region shows its ability to generate adequate amount of exports, on the one hand, and to ensure full employment and rising income levels of workers, on the other hand. In this context, it follows that productivity growth of locally-oriented economic activities is decisive for improving regional competitiveness. The paper starts with the premise that to understand the nature of the phenomenon of regional competitiveness, it is of great importance to know the basic theoretical postulates of endogenous growth theory. The paper examines the most significant messages of the theories of endogenous growth for the policy of regional competitiveness development (the growth of investment in education, training, research and development, i.e. investments in factors that decisively contribute to the commercialisation of knowledge in innovations). The aim of the paper is to present how each of these mechanisms influences the growing efficiency of accumulation of factors of regional economic growth, thanks to manifestation of various external effects. The importance of research is reflected in the quotation of conclusions of the supporters of endogenous explanation of growth that no economic convergence is necessary at all. In a word, economically more superior regions can smoothly improve competitiveness and raise the living standards of their inhabitants, while economically less developed regions can always be poor and insufficiently competitive. This is also a very strong message of the creators of regional policies.</abstract>

Improving Regional Competitiveness in the Light of Endogenous Growth Theory Recommendations

<abstract xmlns="http://www.w3.org/1999/xhtml">The main goal of the research presented in this paper is to point to the benefits of a balanced regional development, as well as the mechanism of its implementation, based on the analysis of the current situation relating to the regional development of the Republic of Serbia, which is characterised by the greatest regional disparities in Europe, that even show the tendency of further deepening. The importance of a consistent and comprehensive development strategy of the country that would include reindustrialisation and full employment policy as a means of initiating dynamic economic growth and achieving sustainable development of the national economy and its regions is emphasised. This position is justified, primarily, due to the fact that, despite its crucial importance, regional development has never been understood as an integral part of the overall socio-economic development, therefore, this issue, owning to a lack of institutional and systemic approach is constantly being marginalised. In the analysis of the key aspects of a balanced regional development in Serbia, based on the study of different theoretical views and practical experiences regarding this important social and economic development issue, the method of the analytical description was primarily used.</abstract>

Key Aspects of a Balanced Regional Development of the Republic of Serbia

<abstract xmlns="http://www.w3.org/1999/xhtml">In recent decades, the main characteristics of developed countries have been numerous changes in the banking industry, which led to the emergence of new trends. We are faced with the continuing trend of creating new banking products, as a result of the demands and desires of consumers, as well as stronger competition between banks and non-banking financial institutions. Due to increased competition, banks are losing a significant share of the financial market. Due to the new situation, banks are increasingly, in the context of their banking products, including newer services, in order to counter the competition of non-banking financial institution, i.e. banks are beginning to offer non-banking operations. In this way, banks engage in high-risk zone, which, if not directed in the right way can jeopardize banks’ operations. The aim of this writing is to highlight the importance of convergence of banking and non-banking financial institutions, which is still underdeveloped in the Serbian market. The purpose is to raise awareness with banks and other non-banking financial institutions that joint cooperation in reference to connectivity can bring benefits financially and in terms of increasing mutual trust of clients and suppliers of services. It could be beneficial to both banks and non-banking financial institutions as well as to final users - customers.</abstract>

Convergence in the Functioning of Banking and Nonbanking Financial Institutions in Serbia

<abstract xmlns="http://www.w3.org/1999/xhtml">The need for classifying workers in the labour market exists in the case of information asymmetry between workers and employers. It is expected that certain mechanisms will be developed in order to overcome this information asymmetry. One of those mechanisms is signalling, whose basic idea is that highly productive workers take certain actions in order to separate themselves from the low productive workers. This paper reviews an economic role of education as a signal in the labour market. The goal of the paper is to show theoretically how education can play the role of signal in order to solve the problems caused by the asymmetric information. The importance of such analysis is reflected in the fact that the recommendations for educational policy makers in terms of investment in education are different depending on whether education serves as a mechanism for improving productivity or as a mechanism for signalling different productive capacity. It is shown that these differences arise from distinct ways of measuring social rates of return on investment in education.</abstract>

Investment in Education as a Way of Overcoming the Problem of Information Asymmetry in the Labor Market

<abstract xmlns="http://www.w3.org/1999/xhtml">Agriculture of the Republic of Serbia is a significant economic branch, due to the specifics of production, tradition and because of the enormous potential that it holds for improving competitive performance and development of the national economy. For this reason, in all strategic documents agriculture is recognised as a vital branch for the development of the national economy, which can be achieved by an increase in productivity and greater foreign exchange, especially with the neighbouring countries. Bearing in mind that agricultural food products represent a very important part of foreign trade of the Republic of Serbia with the countries of the Western Balkans, the goal of the research is to point out the comparative advantages of the Republic of Serbia in the exchange of agricultural and food products with the countries in the region, by applying the Balassa index. The realisation of the principal objective of the research was carried out using the methods of comparative advantage, historical method, trends method, methods of analysis and synthesis. The results of research show that the Republic of Serbia has distinct comparative advantages in relation to the countries in the Western Balkans, with the exception of the Republic of Croatia. The key contribution of this paper lies in providing a clearer insight into the comparative advantages of the Republic of Serbia in foreign trade with the countries in the region, as well as pointing out the priority directions of activities of competent authorities in order to intensify. the agricultural export, especially high quality and products at a higher level of processing.</abstract>

The Analysis of Agricultural Products Export Competitiveness of the Republic of Serbia Based on the RCA Index

<abstract xmlns="http://www.w3.org/1999/xhtml">Throughout the history, technology was the key factor in the organisation of working processes and designing organisations. Today, many new forms of information and communication technologies lead to many benefits in designing organisations and impact on all parameters of organisational structure. The aim of this paper is to examine how new development forms of modern ICT technologies – Big Data impact on coordination mechanisms, one of the most important parameter of organisational structure. For the purpose of the paper, empirical research was conducted with specially designed questionnaire which was filled by 214 companies worldwide that use Big Data technologies. Results conducted from empirical research showed that companies that use those technologies have implemented many changes in coordination mechanisms in companies. The most important research results are that all available data were integrated in companies, while working processes, activities and decisions were automated. Due to the application of Big Data technologies coordination mechanisms in companies obtained completely new characteristics. Consequently, with improved coordination mechanisms companies were able to improve their strategic and operational activities.</abstract>

Transformation of Coordination Mechanisms in Companies Due to New Technologies: Evidence from Empirical Research

<abstract xmlns="http://www.w3.org/1999/xhtml">Reverse movement of patients in search of cheaper medical treatment from developed countries to undeveloped countries caused the birth of new phenomenon called medical tourism. Moreover, increasing value of medical tourism market each year draws attention of countries that are aiming to increase their economic growth. In this regard, the potential of Alanya as a medical tourism destination has been tried to determine in this paper. Therefore, it can be said that, the main objective of this research is to determine medical tourism potential of Alanya by taking into account the strengths and weaknesses of the destination as well. For this purpose, face-to-face interviews were conducted with an expert from each hospital and the county health department in Alanya, then these were transcripted into word documents and analyzed with NVivo 8.0. Consequently, it has been found that medical tourism potential of Alanya consist of thirteen sub-factors, which are respectively “Workforce”, “Climate”, “Central Asian Countries”, “Geographic Location”, “Incentive Policies”, “Price”, “Facilitators”, “Service Quality”, “Accessibility”, “Hospital Investments”, “Technological Equipment”, “Conjectural Situation” and “Vacation”. It can be said that, Alanya can benefit from job creation potential, decreasing foreign currency deficit because of service export and spillover effect to other sectors like in other destinations by using its potential to take part in medical tourism.</abstract>

Institute of Social Sciences, Department of International Trade

A Qualitative Research on Medical Tourism Potential of Alanya/Turkey in the Concept of International Service Trade

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Economic Themes

 The Faculty of Economics in Niš publishes the journal Economic Themes within the Center for Publishing. According to the categorization of the Ministry of Education and Science of the Republic of Serbia the journal is classified as the leading journal of national importance (M51) and is issued quarterly (in Serbian and English). In the upcoming period we wish to implement two important aims: first, to continually enhance the quality of the journal in compliance with generally accepted standards and second, to improve the ranking of the journal in the following years. All articles sent for publishing are anonymously reviewed.  Rejection Rate   App. 28%  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 