We investigate the relationship between environmental protection public expenditure (EPE) and green total factor productivity (GTFP) across 27 EU countries from 2013 to 2022. Using the global Malmquist Luenberger index and Two-Step System GMM estimation, we test contemporaneous and lagged effects of EPE scale and structure on GTFP. The findings reveal that absolute EPE (EPEA) has a positive and significant effect on GTFP through pollution-emission reduction and clean-technology investment channels. However, expenditure intensity (EPEI) shows no significant effect. This points to a threshold issue: current spending (averaging 0.76% of GDP) likely falls below levels needed for measurable productivity gains. Neither one-period nor two-period lagged variables demonstrate significant relationships with GTFP, indicating that environmental spending impacts may require longer evaluation horizons than the observation period allows. Disaggregated analysis of individual EPE components reveals no significant effects for any single category, suggesting that integrated environmental strategies may be more effective than targeted categorical spending. Several limitations affect our findings. We cannot establish definitive causality. The observation period is relatively short. Our focus on public expenditure excludes private environmental investment. Our empirical findings suggest four policy priorities: prioritising absolute investment over intensity targets, integrating spending across categories, extending evaluation beyond 2-year horizons, and strengthening public-private coordination.  

Background: As a complex socio-economic concept, financial inclusion is related to the improvement of access and use of formal financial products and services (such as bank deposits, loans, insurance, etc.) by all participants in the financial system. More inclusive financial systems contribute to poverty reduction, decrease in inequalities among different income groups leading to economic growth, and economies more resilient towards macroeconomic shocks. Purpose: This paper aims to assess the relationship between financial inclusion and inflation in Southeast European countries, focusing on Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Montenegro, North Macedonia, Romania, Slovenia, Serbia, and Turkey in the period from 2011 to 2021. Study design/methodology/approach: The financial inclusion index was constructed using Principal Component Analysis (PCA). The connection between the financial inclusion index and inflation was investigated using panel regression modeling (OLS, fixed-effect, and random-effect models). Findings/Conclusions: The research showed that countries with higher levels of financial inclusion are more resilient to inflation. This finding is consistent with other research implying that policymakers and other stakeholders within a financial system should contribute to promoting financial inclusion and building more inclusive financial systems. Limitations/future research: The main limitation of the research is related to data availability for multidimensional index construction. Future research should be directed to providing a better understanding of whether the relationship between financial inclusion and inflation is under the influence of other monetary policy instruments, such as interest rates.

Abstract Paper discusses financial inclusion of youth focussing on effects of remittances on financial inclusion of youth (usage of debit card, credit card, savings and borrowing instruments) in South East Europe. It is argued that remittances, as stable sources of income (capital), contribute to savings and lead to an improvement in financial inclusion of individuals who receive remittances. We test our hypothesis that remittances contribute to increase in savings and in the level of financial inclusion of youth in South East European countries. We estimate probit regression models with a set of dummy dependent variables for financial inclusion: having a debit card, having a credit card, borrowing and savings, and regress them on receipt of remittances controlling for age, gender, education and income level. Results show negative impact of remittances on youth financial inclusion in selected countries with respect to having debit card, credit card and borrowing. On the other hand, results show positive effect of remittances on savings among youth that receive remittances.

Ovaj rad istražuje problem malih i srednjih preduzeća (MSP) vezane za pristup izvorima finansiranja uFederaciji Bosne i Hercegovine (FBiH). Fokus istraživanja je na analiziranju potreba MSP za eksternimfinansiranjem, karakteristikama nedavno dobijenih eksternih izvora finansiranja te preprekama zadobijanje finansijskih izvora, kao i da se pomogne u razumijevanju budućih potreba MSP i finansijskeklime. Kako bi se procijenila adekvatnost pristupa finansiranju MSP u FBiH, istraživanje je provedenokorištenjem SAFE metodologije Evropske centralne banke, i to na uzorku MSP u FBiH. Podaci suprikupljeni u 2016. godini, a uzorak je činilo 80 MSP. Adaptirani upitnik za ovo istraživanje kreiran jena način da analizira percepcije MSP u FBiH u pogledu dostupnosti i adekvatnosti finansijskihproizvoda/usluga, koje nude banke i druge finansijske institucije. Očekuje se da će istraživanje pružitiinformacije o identifikaciji problema iz perspektive MSP prilikom traženja eksternih finansijskih izvorai može se koristiti kao smjernica za poboljšanje postojećeg institucionalnog okvira u FBiH radi boljegpristupa finansijama za MSP.

Abstract Education plays a central role in today’s understanding of growth and development dynamics. However, its relationship with other factors is complex. This paper aims to investigate the effect of different forms of education on youth employability in Bosnia and Herzegovina. This is done by using the USAID MEASURE – BiH National Youth Survey. Research has shown that formal education and non-formal education through internship programmes, volunteering, paid jobs other than internships are significant predictors of youth employment status. The study also has several implications for academics and practitioners since it provides new insights into both employment patterns and practices in one transition economy but also calls for further analysis of the link between education, formal and non-formal, and youth employment.