The last part of the former decade in Serbia coincided with a successful ending of the fiscal consolidation program. The recession risk is mainly contained, and we do not see any indication that the economy has fallen off a cliff edge yet again. Unemployment drop and growth in positive territory both signaled an opportunity to start over, a chance to be optimistic and make decisions which are good, but hard to swallow. The beginning of 2020 is related to great new challenges. In the surrounding world, powerful Industry 4.0 technologies have been massively infused, in particular as a means of neutralizing the carbon footprint. Following this line of reasoning, this edition of Ekonomika preduzeća is dedicated to Industry 4.0 and the related issues as a blueprint for a new growth pattern.
In the Introductory paper, a duo of authors, D. Đuričin and D. Lončar, acknowledged three shifts in the contemporary line of reasoning regarding the growth pattern: from shareholder capitalism to stakeholder capitalism, from linear to circular model of production, and from orthodox to heterodox approach in economic policy platform. Based on econometric analysis results, President of the Fiscal Council P. Petrović and his team discussed factors influencing emigration as a major source of concern. The model forecasts that emigration of well-educated youngsters is expected to additionally increase by 20-30% in the following five years. M. Labus analyzes inflation-targeting measures, particularly open market operations being used for targeting the informal exchange rate. Governor of the National Bank of Serbia J. Tabaković, along with her colleague, N. Dragašević, emphasized some of the commonalities in the money markets in the US and Serbia regarding the role of the central bank in liquidity maintenance.
Second part of this edition is mainly focused on intentional (structural or industrial) policies and new policy instruments derived from core policies which could support smooth transition toward Industry 4.0. Former minister of finance D. Vujović explained, while offering some details, the emerging contours of the new growth model and economic policy platform. N. Savić et al. discussed crucial aspects of vertical industrial policies, education policy and related issues. In addition, A. Trbovich et al. pointed out to the second crucial aspect of vertical industrial policies, research and innovation. G. Pitić and his team continued with this line of reasoning, promoting the gaming industry as a good candidate for industrial policy. In his contribution to the topic, S. Ranđelović emphasized that core policies, in particular the fiscal policy, should be treated in a structural way in the new growth pattern.
Last but not least, I. Vujačić made a concluding contribution to this edition. The topic of the paper is the trade war between the US and China as perhaps the most important contingency of the global economy. The conclusion is that this trade war is self-defeating in terms of tenets that were supposed to be attained.
Savez ekonomista Srbije je (SES) nevladino i neprofitabilno udruženje ekonomista Srbije osnovano 1947. godine radi ostvarivanja ciljeva u oblasti unapređenja ekonomske nauke i prakse u Srbiji. SES okuplja ugledne ekonomiste iz akademskih i poslovnih krugova, kao i najznačajnije kompanije iz realnog i finansijskog sektora.
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