The tourism sector as a determinant of reducing the balance of payments deficit in the Republic of Serbia

Janković, Nenad; Čakajac, Božidar; Luković, Stevan; Mitrašević, Mirela

doi:10.5937/menhottur2202137j

Cited by 4 publications

(2 citation statements)

References 22 publications

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“…At the same time, the balance in the trade of services has recorded a continuous increase in surplus since 2011, which affected the balance of payments deficit reduction. The largest share in the reported increase in the balance of services surplus is attributed to telecommunication and computer services, tourism services, and other business services (Janković et al, 2022).…”

Section: Figurementioning

confidence: 99%

The Role of Remittances in Financing the Current Account Deficit: The Case of Serbia

Čakajac,

Janković,

Luković

2023

Naše Gospodarstvo/Our Economy

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Migrations of the resident population in Serbia, with the Western European countries as the main destination, have influenced remittances becoming an important source of income from abroad. Relevant economic literature, as well as the influential views expressed in the international financial institutions’ reports, indicate that remittances are a more stable type of inflow of funds from abroad to developing countries compared to other types of capital movements. In addition to the positive economic effects of remittances, they also play a significant role in the balance of payments deficit reduction. The subject of this research refers to the examination of the role of remittances in financing the current account deficit in Serbia. The research goal is to explore whether the importance of remittances as a factor in the balance of payments deficit reduction in Serbia increased in the period 2007-2021. The results of the research show that remittances have become an important factor in current account deficit reduction in Serbia during the observed period.

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Section: Figurementioning

confidence: 99%

The Role of Remittances in Financing the Current Account Deficit: The Case of Serbia

Čakajac,

Janković,

Luković

2023

Naše Gospodarstvo/Our Economy

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“…We can surely state that exact and comprehensive analysis is inconceivable without such information provided by a model that solves a number of decision types: optimal production structure, gains, technologies, use of resources, shadow prices, sensitivity analysis, assumptions, simulating, and analyzing "what if…" situations, etc. The relationship between optimization and economical regulation in the decision-making mechanism also deserves our attention (Janković et al, 2022;Prdić & Kostić, 2022). Sedlak et al, 2016).…”

Section: Introductionmentioning

confidence: 99%

Modern Decision-Making Mechanism in the Process of Development of Small Farms

Korhec,

Sedlak,

Marcikić Horvat

et al. 2023

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The use of multi-criteria decision-making methods can contribute to finding the most rational solution more easily and efficiently. The purpose of the research is to investigate the applicability of the PROMETHEE and TOPSIS methods at the level of family farms and their comparative analysis in the case of the purchase of agricultural mechanization. Both methods start from a set of criteria established based on the subjective expectations of 48 farmers (decision makers) who were asked to choose the decision criteria. Then, mathematical models are used to determine the most suitable choice for the farm. Based on the research findings, it can be concluded that applying both methods in parallel leads to similar outcomes. Although decision support systems can be instrumental in making the right decisions, their usage is still not widely adopted in family farms due to the challenges of introducing new solutions in a production setting.

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ICT services as a factor in financing the current account deficit of the Republic of Serbia

Čakajac,

Janković,

Luković

2023

Bizinfo

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The continuous current account deficit represents one of the most significant limitations of the economic development of the Republic of Serbia. The presence of a long-term current account deficit imposes the obligation to find the sources of its financing. During the last decade, the secondary income account played an important role in financing the current account deficit, primarily due to a stable inflow of remittances from abroad. Since 2011, the services trade surplus has been also contributing to offsetting the balance of payments deficit to an increasing extent mainly owing to the rising export of ICT services. Therefore, the goal of the paper is to identify the importance of ICT services in achieving the service trade surplus and, thereby, also in financing the current account deficit.

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The tourism sector as a determinant of reducing the balance of payments deficit in the Republic of Serbia

Cited by 4 publications

References 22 publications

The Role of Remittances in Financing the Current Account Deficit: The Case of Serbia

The Role of Remittances in Financing the Current Account Deficit: The Case of Serbia

Modern Decision-Making Mechanism in the Process of Development of Small Farms

ICT services as a factor in financing the current account deficit of the Republic of Serbia

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