Gordana Djurovic

By Gordana Djurovic, Milica Muhadinovic, Vasilije Djurovic and Martin M. Bojaj

The Government of Montenegro nationalized 2030 Agenda on Sustainable Development by adopting the National Strategy for Sustainable Development (NSSD) in 2016, together with a corresponding Action Plan for its implementation. The NSSD is umbrella, horizontal and long-term development strategy of Montenegro that relates not only to environment and economics, but also to human resources, valuable social capital that should ensure prosperous development, recommendations for establishing the framework of financing and governance for sustainable development. The NSSD represents strategic framework for the transposition of the UN sustainable development goals (SDGs) and its indicators into national context. The NSSD Action plan, divided into 6 thematic areas with 30 strategic goals of sustainable development of Montenegro and their 102 measures and 601 sub-measures, represents very complex mechanism for monitoring and reporting about achieving the UN sustainable development goals (SDGs) in Montenegro. Hence, measuring progress in the NSSD implementation is the focus of this research. Effective measuring of the progress in the NSSD implementation could be achieved under the following preconditions: developed coordination mechanism for reporting, methodology of designing indicators, IT support for data collection and reporting, and strengthening of inter-linkages between the EU agenda and UN 2030 Agenda.

Part of the book: Statistics

By Gordana Djurovic and Martin M. Bojaj

The quality of economic governance is one of the prerequisites for sustainable and faster economic development of the Western Balkan countries, having in mind their historical background, dissolution of the ex-Yugoslavia, specific economic circumstances during the transition recession of the 1990s, slow economic recovery at the beginning of the twenty-first century, strong impact of the global financial and economic crisis, and long and complexed path towards the European Union (EU). The main research problem in this paper is examining the dynamic relationships among government effectiveness, inflation, and GDP across Albania, Bosnia and Hercegovina, Kosovo, Montenegro, North Macedonia, and Serbia. We employ the Worldwide Governance Indicators of the World Bank, namely, the Governance Effectiveness Indicator, as one of the six broad dimensions of governance. Using a structural VAR approach, we examine the time-varying effects of economic governance shocks on inflation and economic growth dynamics for each of the Western Balkan (WB) countries in the period of January 2006 to December 2018. Our findings allow the WB policymakers to understand the impact of institutional strength involved in identifying the onset of sustainable development dynamics and the EU integration process in WB better and develop more effective government regulations that can be employed nationally.

Part of the book: Linear and Non-Linear Financial Econometrics