Local food production benefits sustainable regional development and should be considered as one the pillars of sustainable regional development strategies. Local food producers share a common heritage because of the cultural and historical ties in their regions, while consumers tend to value food products produced locally. The purpose of this article was to explore market participants’ attitudes toward the impact of local food product attributes on sustainable regional development. The authors’ findings on the main advantages and barriers to consumption of local food products have pointed out the complexity of the relationships between market participants (i.e., producers and consumers) and indicated that a deeper understanding is necessary for overall economic development. The problems of local food products in Serbia, in the context of sustainable regional development, have not been investigated so far, and for this reason, it is important to analyze the differences between consumer and producer attitudes to reduce this perceived gap in the literature. In this way, these insights can offer opportunities for strategic actions in regard to the local food product supply and consumption, with the aim of including different regional stakeholders.

h i g h l i g h t s • To point out the theoretical advantages of GMM in relation to other (often used) panel data estimators. • To demonstrate its advantages in the case of the emerging markets in the countries of Latin America. • To identify a relevant econometric model. • To demonstrate the impact of crucial macro and microeconomic variables on the NPLs.

This paper explores the correlation between state of cluster development in a country and its national competitiveness. Our research hypothesis is that high positive correlation exists between cluster development and national competiveness, meaning that the countries in which clusters are deep and well-developed are at the same time countries that have a high national competitiveness in certain segments of industry and vice versa.

Životna sredina izložena je negativnom uticaju poslovanja koji se ogleda u velikoj eksploataciji prirodnih resursa i zagađenju prirode. Pitanje zaštite životne sredine je veoma značajno za turističke destinacije koje su izložene negativnim efektima poslovanja brojnih preduzeća u njihovom okruženju. S tim u vezi, zeleni hoteli dobijaju sve više na značaju jer svoje poslovanje baziraju na smanjenju potrošnje prirodnih resursa i smanjenju zagađenja. Cilj ovog rada je da istraži percepciju potrošača u vezi sa zelenim hotelima, njihovu nameru ih ponovo posete, kao i da ih preporuče prijateljima, poznanicima ili posredstvom društvenih mreža. Osim toga, doprinos ovog istraživanja je u definisanju mogućnosti za razvoj preduzetništva u oblasti zelenog hotelijerstva. Rezultati istraživanja omogućavaju preduzetnicima da uvide prednosti primene ekoloških principa u poslovanju i kako ih potrošači vrednuju. Za potrebe ovog rada sprovedeno je empirijsko istraživanja na bazi upitnika koji je sadržao 5 varijabli i 21 konstataciju. Rezultati pokazuju da implementacija zelene prakse u hotelijerstvu ima pozitivan uticaj na satisfakciju potrošača, nameru da posete ove hotele, kao i da ih preporuče prijateljima, poznanicima i posredstvom društvenih mreža.

One of the hotel companies' key strategies in terms of increasing domestic and international competition is that the hotel service offer reflects a high quality level. Aim of this paper is to measure the guests' satisfaction level by the intangible components of offer in the Kolubara District hotels, i.e. to show the significance of this dimension in the total process of providing hotel services. Satisfied guests show a higher loyalty level, which represents a precondition for visiting the same hotel by the same guests and recommend it to their friends. The research was conducted in four hotels, where 100 respondents, the guests of the hotel, were surveyed. The research results showed that the intangible dimension of hotel offer can predetermine and increase the value of services to a large degree, and guests' satisfaction as the users of services as well.