The main objective of the presented paper was to evaluate the integrated design strategies applied in refurbishment of the prefabricated residential housing, erected in'70 in the New Belgrade, Serbia, in order to achieve energy savings accompanied with reduction of CO2 emissions and improvement of households' health and comfort. Conducted study led to the preliminary design of energy refurbishment of the existing building, and its conversion to energy efficient building with minimized loads. Building's dynamic behavior and energy efficiency have been optimized implementing BPS-Building Performance Simulation. Very significant reduction of thermal and cooling loads with the reference to the building's existing status is obtained. Refurbishment encompassed comprehensive optimization of building's envelope structure, natural and mixed ventilation. The implementation of a series of EEI (energy efficiency improvement) measures resulted in significant reduction of buildings energy loads. The investment in energy efficiency retrofitting can improve macroeconomic stability and contribute to the sustainable economic growth. Furthermore, economic analyses were performed for each model, considering present economic situation in Serbia and availability of funds for refurbishment. Presented methodology and results of the performed analyses offer an opportunity to extend their application to other neighborhoods, exploring refurbishment potential results if applied on a greater urban scale. Economically feasible Energy Refurbishment of Prefabricated Building inBelgrade, Serbia The main objective of the presented paper was to evaluate the integrated design strategies applied in refurbishment of the prefabricated residential housing and their economic feasibility, considering current economic situation in Serbia. The aim of the study is architectural re-design using "passive" and "active" measures to improve and optimize the energy efficiency of residential buildings.Design strategies were applied in order to achieve energy savings accompanied with reduction of CO 2 emissions and improvement of households' health and comfort. By BPS -Building Performance Simulation were analyzed effects of the implementation of a series of EEI (energy efficiency improvement) measures and they resulted in significant reduction of buildings energy loads. Considering present economic situation in Serbia and availability of funds for refurbishment, by analyzing these six different energy efficiency retrofitting models, valuable inputs were obtained for further development of economic models. The results clearly prove that every retrofit scenario is economically feasible.

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Goals and potential effects of fiscal decentralisation have been analysed in numerous scientific papers and studies. Empirical data shows different or even contradictory results of fiscal decentralisation expansion even though fiscal decentralisation is based on a solid theoretical framework. Fiscal decentralisation might have a positive impact on investment, GDP growth, quality enhancement of healthcare, education and social protection. The purpose of this paper is to provide empirical evidence whether fiscal decentralisation was primarily led by the economic or political rationale in the selected EU member states – 11 CEE and SEE countries. The EU integration process created a pressure on new member states which joined the EU between 2004 and 2013 to implement fiscal decentralisation policies. The goal of this paper is to quantitatively and qualitatively investigate whether all analysed countries followed the fiscal decentralisation path and what were the predominant reasons for fiscal recentralisation.

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Legal uncertainty represents one of the major impediments to sustainable economic growth of transition countries. Inadequate legal framework is often the source of legal uncertainty and strong impediment to effective rule of law and efficient judiciary. The purpose of this paper is to investigate the effect of penal policy on the prevention of tax indiscipline. The improvement of legal framework and tax discipline creates a synergistic effect for attraction of FDI, enhanced allocation of resources and higher economic growth. The analysis of the shortcomings of the existing legal solution is accompanied by the assessment of the prevailing case law and tax evasion criminalization in the selected European countries. Holistic approach to research allowed for the development of a specific proposal for the enhancement of legal framework and, consequently, the increase of legal certainty with positive effects on the economic growth of Serbia in the medium and long term.