I International Scientific Conference 2009
Perspectives of the Economy and Society in conditions of Global Economic Crisis
Novi Pazar - Serbia, 9. - 10. May 2009.
History of banking crises is quite long. The Great Depression in the 30's was exacerbated by the banking crisis in the United States and elsewhere. In recent decades, many countries have been affected by the financial problems of different severity (acuity), and some of them were repeated trouble. In almost all the countries in transition - that have transformed its economy from a command system to a system that is market-based - leading banks suffered large losses as a result of high and fluctuating inflation and the loss of traditional enterprise customers.
Over the past two decades, serious problems of the financial sector have been affected by many countries. According to the analysis Lindgren, Garcia, Saal (1996), in the period 1980-96. at least two-thirds of IMF members had experienced significant banking sector problems. In many regions, almost every country has experienced at least one serious banking issue. During the 80's and 90's, banking crises were more frequent and larger than in the 70's, especially in comparison to the 60-and 50-year and.
Financial problems were particularly pronounced in developing (young) markets - emerging economies. The problems of the banking system that began in the mid 90's in some Asian countries (Indonesia, Korea, Thailand) produced a clear possibility for regional expansion.
During the 80's and the first half of the '90s banking crisis emerged in Latin America (Chile, Colombia, Mexico and Venezuela respectively). From developed countries - the U.S., Japan and the Nordic countries.
Currently, the world is facing a tough financial and economic crisis, that has not been seen since the Great Depression of the thirties of the twentieth century - the largest and best-known economic catastrophe in modern history.
The dream of every American, among other things means that every family has a house in his possession. Purchase of property, as well as everywhere else in the world was done through financial intermediaries, such as mortgage loans taken from banks and other deposit-credit institutions. These transactions were carried out on the primary mortgage market. The system of buying property functioned well until the introduction of the new subprimarnog mortgage market, which, as will be later proved, to be the main cause of the crisis in the U.S. housing market. Seemingly both markets are operated by the same token, however, there is an important difference that had a decisive role in the crisis. The difference between these markets is the degree of regulation and the conditions under which they are granted mortgage loans to individuals.
This shows that the most brutally Marx's theory was confirmed that the banking system is solely a function of increased spending, and that capitalism only works if the population is increasingly obliged. And when you get stuck, capitalism becomes destructive. So today najsocijalnije moves draw the countries with the longest history of capitalism.
In the global financial system, national borders have caused a major role and
crisis has not remained isolated within the United States but has spread to other parts of the world. In the financial markets and the U.S. in addition to domestic investors participating companies, banks and funds from other countries and major financial centers such as the European Union. However, as the economies of all European countries mutually complementary crisis has spread to the European countries that are not members of the European Union. Serbia's first hit of the crisis experienced in its most sensitive part of the financial markets - the stock market. Given the characteristics of the under-developed capital market in Serbia, it is considered that the impact of the global economic crisis on the sector will be limited. The unstable political situation in early 2008. was further increased uncertainty investors, and a higher withdrawal of foreign capital, which resulted in a decrease in market liquidity
capital and a negative effect on future developments on the BSE. The liquidity crisis in the banking system would have a negative impact on the stability of the sector and to increase the level of country risk. Thanks to the high rate of reserve requirements on foreign borrowing to domestic and foreign currency deposits, the banking sector in Serbia is in advanced stages of the financial crisis showed coverage of deposits in foreign exchange reserves amounting to 86%, well above the indicators of other countries in the region, where the this ratio was 35%. Liquidity of banks contributed to the so-called. repo transactions, the NBS instrument sales visokolikvidih (repurchase) securities which, after the agreed period for refinancing with the NBS.
Serbia and its citizens are in remarkably difficult and complex situation. The seriousness of the situation in
which we found increases uncompetitive economy still does not have a high degree of attractiveness and whose development is largely determined by foreign investment.
The essence of the conference is to assess the prospects of the economy and society in the conditions in which it is located. The main objective is the promotion and popularization of the social sciences.
Announcement: IV International Scientific Conference
"Economics of Integration in the Function of Social Development"
October 2013, Novi Pazar, Serbia
Dr. Kostadin Pusara
Prof. Emeritus
Conference Proceedings
II International Scientific Conference 2010
Perspectives of the Economy and Society in the Post - Crisis period
Novi Pazar - Serbia, 12. - 13. June 2010.
The primary objective of the Scientific Society "Akroasis" is promotion, advancement and popularization of Science as the most valuable human resources. Akroasis founded by young people involved in social sciences because they realize that they need as easy availability scientific achievements in the areas treated, but also the possibility to present what up what are, in dealing with science, themselves came, presentations of their ideas and vision solution to the problem which is quite substantial. Its founder was among other things the encounter and confrontation of opinions and young adults, particularly the occupied economics, open space and equal discussion time for those who come to those who are slowly but surely leaving.
Two conferences were held, and people say that they have three traditions. Just step up to that. Topics which are dealt with participants second International Youth Leadership Conference was entitled: Perspectives on the economy and society in the post-crisis period. The theme is just as optimistic and optimistic youth. The conference was attended by over 140 authors from different institutions. Over 70 papers have looked at the problems that the global financial crisis has left behind. Discussed the prospects of emerging from the crisis in terms of both economic theory and finance as well as in terms of organization, education, social trends, and information technology. Great interest necessitates the theme that the International Youth Leadership Conference expanded to deal with segments that go beyond the social sciences.
Our mission is to deal with the world as it is the doctrine of God's commandments. We wish to Conference a treasure trove of knowledge and new ideas that will contribute to sustainable economic development and therefore the general social welfare.
Dr. Luciano Delbianco
President of the International Advisory Board
Socioecnomica - The Scientific Journal
Dr. Gordana Ajdukovic
President of Scientific Society Akroasis
Conference Proceedings
III International Scientific Conference 2010
Contemporary knowledge and new energy sources
in the function of social-economic development
Novi Pazar - Serbia, 15. - 16. October 2011.
Social-economic development falls into the category of exponential processes, making unrestricted development essentially impossible. Actual physical boundaries of development are determined by the small volume of the country’s natural ecosystem and its exceptionally low capabilities of self-regeneration. When talking about the sustainability of development, it can be concluded that development is sustainable if it meets the needs of the present generation, without endangering the possibilities of future generations to meet their own needs.
Economic development has led to enormous environmental pollution, to exhaustion of natural resources and diminishing arable surfaces, which are all effects which directly influence the occurrence of macroeconomic imbalance, and in the long term, to a decreasing economic growth rate. The problem is actually in the fact that negative ecological outcomes of natural development have not only regional but also global consequences, thus becoming subject to international regulation.
