Ognjen Radonjić
Biographic Data
| ID | 5815331 |
|---|---|
| NAME | Ognjen Radonjić |
| GIVEN NAMES | Ognjen |
| FAMILY NAME | Radonjić |
| SIGNATURE | RADONJIĆ O |
| AFFILIATIONS | University of Belgrade |
| ORCID | 0009-0005-5465-3319 |
| VERIFIED | Yes |
| TOTAL WORKS | 15 |
| TOTAL CITATIONS | 1 |
| AUTHOR COUNT | 15 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2002 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 1 |
Sustainable Development
From the perspective of the dominant economic theory, as long as economic growth brings more benefits than costs expressed in monetary units, such growth should be supported. On the other hand, this theoretical approach ignored not only the natural environment's limited capacities but also anomalies in economic growth that lead to increased inequality in the distribution of income and wealth, as well as poverty. The topic of this study is the def…
The Role of Pre-Pandemic Investments in the Health Sector, Additional Fiscal Measures and Anti-Epidemic Policies in the Suppression of Covid-19
The paper seeks to identify the causes of the significant differences in the efficiency of the response to the COVID-19 pandemic between 15 developed countries. Geographic location, pre-pandemic investment in healthcare system capacity for preventing and managing the epidemic suppression process, and additional fiscal spending (which, in addition to public health investment, includes support measures for the economy) did not significantly affect …
Brain Drain Losses – A Case Study of Serbia
The focus of this paper is on an attempt to quantify economic losses due to ongoing and vast brain drain emigration from Serbia. We claim that socio‐economic losses in terms of implicit and explicit costs related to upbringing and education of emigrants as well as lost production are paramount. Therefore, the main argument is in line with pessimistic stances on migration and its effect on Serbian development. Massive emigration, especially of edu…
Redde Rationem
The aim of this paper is to indicate, through study of the Long-Term Capital Management near-bankruptcy case, fallacies of modern financial theory. Model assumptions that determine the validity of theory must be realistic. The responsibility of academic community in the process of creating economic policy is significant since only valid theory could result in economic policies that would successfully deal with the instability of global world econ…
Labor market performance in Serbia, Montenegro and Bosnia and Herzegovina from a gender perspective
In this paper we analyze some aspects of the efficiency of labor markets in Serbia, Montenegro and Bosnia and Herzegovina and compare resulting outcomes with the outcomes of labor markets efficiency in selected economies of the European Union. A particular focus of our analysis is on gender equality, due to the fact that not only gender inequality negatively affects the quality of life of individuals and society in general, but also can produce s…
Labor market performance in Serbia, Montenegro and Bosnia and Herzegovina from a gender perspective
In this paper we analyze some aspects of the efficiency of labor markets in Serbia, Montenegro and Bosnia and Herzegovina and compare resulting outcomes with the outcomes of labor markets efficiency in selected economies of the European Union. A particular focus of our analysis is on gender equality, due to the fact that not only gender inequality negatively affects the quality of life of individuals and society in general, but also can produce s…
How to Deal With Economic Depression
The purpose of this paper is to explain not only why the Euro Area debt crisis does not subside, but also, why it deepens. We believe that the experience of the Great Depression can help economic theorists and officials to look at the problem from a different perspective since it is apparent that the economic orthodoxy and economic policies supported by its conventional wisdom do not provide desired results. Roosevelt's fiscal activism and Keynes…
Last tango in the Euro Area
The crisis of sovereign debt and banking system in the Euro Area seriously endanger not only economic stability of the Old continent, but also of the world economy as a whole. In this study, we identify causes of the crisis and point towards plausible solutions aiming at a provisional overcoming of the recession. If, on the other hand, central European countries continue to insist on further implementation of deflationary oriented economic measur…
The Iron Law of Financial Markets
This paper discusses the factors which, in the absence of strong financial regulation, sustain the Iron Law of the Financial Markets asserting that speculative booms and busts occur more or less regularly from 17 century to the present. The first factor is that financial markets are self-fulfilling system. The second is that human nature does not change and is based on egoism, materialism, loss aversion, exaggerated hopes and fears, emulation, pr…
The economic model of socialist Yugoslavia
This paper analyzes causes of the collapse of the economy of socialist Yugoslavia. At the heart of the problem was the inability of the Yugoslav economy to generate accumulation capable of financing sustainable economic growth and development. In the absence of clear ownership relations, in the entire post-war period, Yugoslav economy generated systemic deficits that would fall on the shoulders of future generations. After half a century of redis…
Keynes' theory of conventional decision-making in financial markets
The question addressed in this paper is whether financial markets actually function in the manner described by the today still dominant modern theory of efficient financial markets. We argue that the theory's conclusions are based on unreal assumptions that the future is predictable and ergodic. Since assumptions of a model determine its conclusions, unreal assumptions imply incorrect and inapplicable theoretical models. In contrast to neoclassic…
Limitations of modern microeconomic theory of consumer choice
Neoclassical theory of consumer choice needs to be reformed. Assumption that consumer choice is not influenced by the choice of others is in collision with reality. New and better theory of consumer choice is unimaginable without incorporation of intersubjective factors into the model of derivation of individual and aggregate (market) demand functions. Goal of this study is to underline widely neglected sociological factors that have significant …
Globalization in the Balkans
In order to take advantage of potentially positive effects that free trade flows have on economic growth, eight countries from South-East Europe united to create a regional free trade agreement. Significant market enlargement, cancellation of customs, tariffs and other export barriers create favorable opportunities for the development and growth of domestic companies. What is more, new sources of growth and development for local enterprises, as w…
Global financial interests
In our opinion severeness and deepness of Asian crisis could have been largely avoided with relatively moderate adjustments and appropriate policy changes. Explanations of IMF that crisis was provoked by deep macroeconomic distortions and high level of corruption, is, in our opinion, overstated to a great extent. It's evident that there were macroeconomic imbalances, weak financial institutions and prudential regulation, widespread corruption and…
Technological development as important condition of international competitiveness
Successful industrialization and economic growth in general, require that developing countries use scarce resources in most productive way. It is evident that developing countries lag behind in processes of technological development and at the same time face problems of how best to bridge the technology gap. The best solution is to rely on inflows of foreign technology, as well as reinforcement of domestic research and development base. Despite u…
Brain Drain Losses – A Case Study of Serbia
The focus of this paper is on an attempt to quantify economic losses due to ongoing and vast brain drain emigration from Serbia. We claim that socio‐economic losses in terms of implicit and explicit costs related to upbringing and education of emigrants as well as lost production are paramount. Therefore, the main argument is in line with pessimistic stances on migration and its effect on Serbian development. Massive emigration, especially of edu…
Technological development as important condition of international competitiveness
Successful industrialization and economic growth in general, require that developing countries use scarce resources in most productive way. It is evident that developing countries lag behind in processes of technological development and at the same time face problems of how best to bridge the technology gap. The best solution is to rely on inflows of foreign technology, as well as reinforcement of domestic research and development base. Despite u…
Global financial interests
In our opinion severeness and deepness of Asian crisis could have been largely avoided with relatively moderate adjustments and appropriate policy changes. Explanations of IMF that crisis was provoked by deep macroeconomic distortions and high level of corruption, is, in our opinion, overstated to a great extent. It's evident that there were macroeconomic imbalances, weak financial institutions and prudential regulation, widespread corruption and…
Globalization in the Balkans
In order to take advantage of potentially positive effects that free trade flows have on economic growth, eight countries from South-East Europe united to create a regional free trade agreement. Significant market enlargement, cancellation of customs, tariffs and other export barriers create favorable opportunities for the development and growth of domestic companies. What is more, new sources of growth and development for local enterprises, as w…
Limitations of modern microeconomic theory of consumer choice
Neoclassical theory of consumer choice needs to be reformed. Assumption that consumer choice is not influenced by the choice of others is in collision with reality. New and better theory of consumer choice is unimaginable without incorporation of intersubjective factors into the model of derivation of individual and aggregate (market) demand functions. Goal of this study is to underline widely neglected sociological factors that have significant …
Keynes' theory of conventional decision-making in financial markets
The question addressed in this paper is whether financial markets actually function in the manner described by the today still dominant modern theory of efficient financial markets. We argue that the theory's conclusions are based on unreal assumptions that the future is predictable and ergodic. Since assumptions of a model determine its conclusions, unreal assumptions imply incorrect and inapplicable theoretical models. In contrast to neoclassic…
The economic model of socialist Yugoslavia
This paper analyzes causes of the collapse of the economy of socialist Yugoslavia. At the heart of the problem was the inability of the Yugoslav economy to generate accumulation capable of financing sustainable economic growth and development. In the absence of clear ownership relations, in the entire post-war period, Yugoslav economy generated systemic deficits that would fall on the shoulders of future generations. After half a century of redis…
Last tango in the Euro Area
The crisis of sovereign debt and banking system in the Euro Area seriously endanger not only economic stability of the Old continent, but also of the world economy as a whole. In this study, we identify causes of the crisis and point towards plausible solutions aiming at a provisional overcoming of the recession. If, on the other hand, central European countries continue to insist on further implementation of deflationary oriented economic measur…
The Iron Law of Financial Markets
This paper discusses the factors which, in the absence of strong financial regulation, sustain the Iron Law of the Financial Markets asserting that speculative booms and busts occur more or less regularly from 17 century to the present. The first factor is that financial markets are self-fulfilling system. The second is that human nature does not change and is based on egoism, materialism, loss aversion, exaggerated hopes and fears, emulation, pr…
Labor market performance in Serbia, Montenegro and Bosnia and Herzegovina from a gender perspective
In this paper we analyze some aspects of the efficiency of labor markets in Serbia, Montenegro and Bosnia and Herzegovina and compare resulting outcomes with the outcomes of labor markets efficiency in selected economies of the European Union. A particular focus of our analysis is on gender equality, due to the fact that not only gender inequality negatively affects the quality of life of individuals and society in general, but also can produce s…
How to Deal With Economic Depression
The purpose of this paper is to explain not only why the Euro Area debt crisis does not subside, but also, why it deepens. We believe that the experience of the Great Depression can help economic theorists and officials to look at the problem from a different perspective since it is apparent that the economic orthodoxy and economic policies supported by its conventional wisdom do not provide desired results. Roosevelt's fiscal activism and Keynes…
Labor market performance in Serbia, Montenegro and Bosnia and Herzegovina from a gender perspective
In this paper we analyze some aspects of the efficiency of labor markets in Serbia, Montenegro and Bosnia and Herzegovina and compare resulting outcomes with the outcomes of labor markets efficiency in selected economies of the European Union. A particular focus of our analysis is on gender equality, due to the fact that not only gender inequality negatively affects the quality of life of individuals and society in general, but also can produce s…
Redde Rationem
The aim of this paper is to indicate, through study of the Long-Term Capital Management near-bankruptcy case, fallacies of modern financial theory. Model assumptions that determine the validity of theory must be realistic. The responsibility of academic community in the process of creating economic policy is significant since only valid theory could result in economic policies that would successfully deal with the instability of global world econ…
Brain Drain Losses – A Case Study of Serbia
The focus of this paper is on an attempt to quantify economic losses due to ongoing and vast brain drain emigration from Serbia. We claim that socio‐economic losses in terms of implicit and explicit costs related to upbringing and education of emigrants as well as lost production are paramount. Therefore, the main argument is in line with pessimistic stances on migration and its effect on Serbian development. Massive emigration, especially of edu…
The Role of Pre-Pandemic Investments in the Health Sector, Additional Fiscal Measures and Anti-Epidemic Policies in the Suppression of Covid-19
The paper seeks to identify the causes of the significant differences in the efficiency of the response to the COVID-19 pandemic between 15 developed countries. Geographic location, pre-pandemic investment in healthcare system capacity for preventing and managing the epidemic suppression process, and additional fiscal spending (which, in addition to public health investment, includes support measures for the economy) did not significantly affect …
Sustainable Development
From the perspective of the dominant economic theory, as long as economic growth brings more benefits than costs expressed in monetary units, such growth should be supported. On the other hand, this theoretical approach ignored not only the natural environment's limited capacities but also anomalies in economic growth that lead to increased inequality in the distribution of income and wealth, as well as poverty. The topic of this study is the def…
Economics (14 works) · Political science (9 works) · Business (7 works) · Finance (7 works) · Finance (6 works) · Global Financial Crisis and Policies (6 works) · Economic growth (5 works) · Sociology (5 works) · Development economics (4 works) · Engineering (4 works)