Contents 174-175
SCIENTIFIC PAPERS
1. Author: Biljana Bogićević Milikić
Pages: 9-27
Role of the Reward System in Managing Changes of Organisational Culture
DOI: 10.2298/EKA0775009B
2. Author: Nebojša Janićijević, Ana Aleksić
Pages: 28-44
Complexity of Matrix Organisation and Problems Caused by Its Inadequate Implementation
DOI: 10.2298/EKA0775028J
3. Author: György Simon, Jr
Pages: 45-72
The Impact of the British Model on Economic Growth
DOI: 10.2298/EKA0775045S
4. Author: Ognjen Radonjić
Pages: 73-99
Rational Speculative Bubbles: A Critical View
DOI: 10.2298/EKA0775073R
COMMUNICATIONS
5. Author: Ivan Angelov
Pages: 101-130
Bulgarian Strengths and Weaknesses on the Verge of the EU Accession
DOI: 10.2298/EKA0775101A
6. Author: Božo Stojanović
Pages: 131-151
Economics and Sociology: Between Cooperation and Intolerance
DOI: 10.2298/EKA0775131S
7. Author: Nataša Golubović, Srdan Golubović
Pages: 152-167
Alternative Approaches in the Conceptualisation of Social Capital
DOI: 10.2298/EKA0775152G
8. Author: Miroslav Antevski
Pages: 168-185
The Effects of Regional Economic Integration in Europe of the Pattern North-North and North-South
DOI: 10.2298/EKA0775168A
9. Author: Vesna Paraušic, Drago Cvijanovic
Pages: 186-207
Serbian Agriculture – Programmes of Credit Support by the State and Commercial Banks between 2004-2007
DOI: 10.2298/EKA0775186P
NOBEL PRIZE WINNERS IN ECONOMICS
10. Author: Božo Stojanović, Branko Urošević
Pages: 209-219
Nobel Prize for Economics in 2007.
11. Author: Zorica Mladenović
Pages: 220-232
Haavelmo’s Contribution to Development of Economics
BOOK REVIEWS
12. Author: Boško Mijatović
Pages: 233-240
Book Review:
Boris Begovic: EkonomicAnalysis of Corruption, CLDS, 2007
13. Author: Dragan D. Lakićević
Pages: 241-246
Retrospective View of the Thought and Work of Cedomilj Mijatovic
14. Author: Božidar Cerović
Pages: 247-254
„My Character and Apprehension of the World…“
FACULTY OF ECONOMICS: CURRENT ACTIVITIES
15. Author:
Pages: 255 -291
Seventy Years of the Faculty of Economics of the University of Belgrade
16. Author:
Pages: 292 -299
Defended Ph.D. diseratations at the Faculty of Economics
17. Author:
Pages: 300-304
Defended M.A. theses in the Faculty of Economics
18. Author:
Pages: 305
ERRATA
ABSTRACTS
SCIENTIFIC PAPERS
1. Biljana Bogicevic Milikic
Role of the Reward System in Managing Changes of Organisational Culture
DOI: 10.2298/EKA0775009B
ABSTRACT: The paper intends to investigate how companies can efficiently manage their organisational cultures through changes in the reward system. The paper is based on a research which has taken place in one Serbian company which decided to change its organisational culture, as a prerequisite for further organisational changes. As the main instrument for changing organisational culture, the top management used changes in the reward system. The findings suggest that in the short run only narrow changes of organisational culture are likely to occur. The influence of the reward system on cultural changes is quite limited, and therefore should be strengthened by using various HRM policies.
KEY WORDS : organisational culture, organisational changes, reward system
2. Nebojša Janicijevic, Ana Aleksic
Complexity of Matrix Organisation and Problems Caused by Its Inadequate Implementation
DOI: 10.2298/EKA0775028J
ABSTRACT: Matrix organisation model is a sophisticated structure intended to combine both the efficiency and effectiveness of the functional and the product/service/customer/area dimensions. From the moment it was introduced in practice, this organisational architecture was accepted with enthusiasm, because it represented a complex organisational response adequate to the conditions which most of the companies in the world have been facing since 1970s. Although matrix organisation is not a novelty, it is still a controversial model of organisation design. The aim of this paper is to provide a deeper insight into the causes and effects of organisational misfits which appear in the implementation phase of three-dimensional matrix organisation, as well as to offer some practical recommendations for managers on how to improve their capacities for successful management of complex matrix organisation architecture in their organisations.
KEY WORDS : matrix organisation, organisational complexity, organisational design
3. György Simon, Jr .
The Impact of the British Model on Economic Growth
DOI: 10.2298/EKA0775045S
ABSTRACT: The paper is searching for an answer to the question how the British model affected economic development in its mother country, the United Kingdom . The statistical analysis, models of mathematical economics and econometric investigation make it probable to conclude that there was a substantial difference in success between the Thatcherite and Blairite economic policies; the latter proved more effective. It is particularly remarkable that the Blairite model, connecting privatisation with a successful employment policy, reduced unemployment and social sensitivity, has not only speeded up economic growth but also improved economic equilibrium, curtailing, among others, the budget deficit.
KEY WORDS : economic policy; economic theory; growth models; international analyses and comparisons; globalisation.
4. Ognjen Radonjic
Rational Speculative Bubbles: A Critical View
DOI: 10.2298/EKA0775073R
Abstract: The theory of rational bubbles is, no doubt, a part of the important literature developed within the frame of neoclassical postulates of perfectly rational and informed market participants, and it aims to explain the divergences of asset prices from their fundamental value. According to this theory, a bubble is present whenever asset prices progressively diverge from their fundamental value, which happens because agents expect that asset prices will continue to grow exponentially far in the future (self-fulfilling prophecies), thus promising ever larger capital gains. In our opinion, the basic shortcoming of this theory refers to the assumption that all market agents are perfectly informed and rational, and that accordingly, they form homogeneous expectations. The model does not explain the processes of decision-making and expectation formation, and it does not detect potential psychological and institutional factors that might significantly influence decision making and market participants’ reactions to news. Since, in our view, the validity of a model is assessed upon its assumptions, we conclude that comprehensiveness of the rational bubble model is, to put it mildly, limited.
Key words : rational speculative bubbles, fundamental value, efficient financial markets, rational expectations, capital gain.
COMMUNICATIONS
5. Ivan Angelov
Bulgarian Strengths and Weaknesses on the Verge of the EU Accession
DOI: 10.2298/EKA0775101A
Abstract: The article argues for the necessity of catch-up economic development in Bulgaria over the next years and decades. Characteristics of normal and accelerated catch-up development and their driving forces are given. 15 strengths on the verge of the EU accession, along with more than 40 weaknesses are identified and briefly characterised in economic terms. Some suggestions for future policies regarding most of the weaknesses are made. The article demonstrates that the weaknesses of the Bulgarian economy have been accumulated for many decades and that it is not dully prepared for proper EU accession. However, the articlet supports the accession and proves that there is no alternative to the EU accession and the catch-up develepoment. Unrolling the two processes in parallel corresponds in the best way to Bulgarian vital national interests.
Key words: Bulgarian economy, EU accession, catch-up development
6. Božo Stojanovic
Economics and Sociology: Between Cooperation and Intolerance
DOI: 10.2298/EKA0775131S
ABSTRACT: In social sciences two opposing tendencies act simultaneously: the growth of specialisation and the need for synthesis. Similar tendencies are noticable when economics and sociology are in question. The need for these two sciences to cooperate was noticed a long time ago. However, an incresingly intensive exchange has been achieved only recently, particularly in the explanation of individual and group behavior. The works of Mancur Olson are a good example how the results of economics can be inspiring for the research in other sciences, particularly sociology and political science. Applying the results he got by analysing the logic of collective action, Olson managed to attain significant insight concernning the functioning of economics and society as a whole.
KEY WORDS: economics, sociology, collective action, pressure groups, public good
7. Nataša Golubovic, Srdan Golubovic
Alternative Approaches in the Conceptualisation of Social Capital
DOI: 10.2298/EKA0775152G
ABSTRACT: Despite the great interest for the concept and a considerable number of papers that deal with the subject of social capital, yet there is no unique and consistent definition of social capital. Forming a consistent theory of social capital is hindered by the presence of several different approaches in the analysis of this phenomenon. Depending on the author’s theoretical position of in the definition of social capital or the analysis of its sources, components and outcomes, the emphasis rests on different social processes and relationships. The aim of this paper is to analyse alternative approaches in the conceptualisation of social capital, their advantages and shortfalls, and their implications for the development of the social capital theory.
KEY WORDS : social capital, social resources, trust, efficiency, institutions
8. Miroslav Antevski
The Effects of Regional Economic Integration in Europe of the Pattern North-North and North-South
DOI: 10.2298/EKA0775168A
9. Vesna Paraušic i Drago Cvijanovic
Serbian Agriculture – Programmes of Credit Support by the State and Commercial Banks between 2004-2007
DOI: 10.2298/EKA0775186P