ECONOMICS, BROJ 12

PUBLISHED BY:

“OIKOS INSTITUTE” d.o.o. Bijeljina

FOR THE PUBLISHER:

PhD Zoran Mastilo, Director

EDITOR IN CHIEF:

PhD Petar Đukić

ASISTANT EDITORS IN CHIEF:

PhD Andrzej Niemiec – Poland

PhD Taro Abe – Japan

CO-EDITORS:

Dejan Mastilo, Faculty of Business Economics, Bijeljina

Vesna Miletić, Oikos Institute Bijeljina

EDITORIAL BOARD:

Bosnia and Herzegovina: Šefkija PhD Berberović, emeritus; Kadrija PhD Hodžic; Mladen PhD Rebić; Branko PhD Krsmanović; Aleksandar PhD Stojanović; Marko PhD Šarčević; Goran PhD Popović; Hamid dr Alibašić; Nikola PhD Gluhović; Cviko PhD Jekić; Zoran PhD Mastilo; Radmila PhD Čičković; Armina PhD Hubana; Srdjan PhD Lalić; Nenad PhD Lalić; Drago PhD Vuković; Rajko PhD Radović; Milenko PhD Krajišnik; Jamila PhD Jaganjac; Slobodan PhD Subotić; Muharem PhD Karamujić; Djordje PhD Lazic; Ognjen PhD Eric;

INTERNATIONAL BOARD:

Russia: Oleg PhD Roy; Ludmila N. PhD Ivanova; Liliya PhD Kiyanova; Perpelkin PhD Viacheslav; USA: Tom PhD Gillpatrick; Leland PhD Buddress; Roofa PhD Galeshi; Jason PhD Caudill; Spain: Elena PhD De la Poza; Maisam PhD Ranjbari; Italy: Ubaldo PhD Comite Sweden: Christer PhD Thörnqvist India: Manjit PhD Das; Ray PhD Titus; Rudrarup PhD Gupta; Romania: Alexandru PhD Nedelea; Rocsana PhD B.Manea Tonis; Tailand: Napat PhD Harnpornchai; Fiji: Ranasinghe PhD Amaradasa; Albania: Elez PhD Osmanović; Brilanda PhD Bushati; Fatbardha PhD Molla Bequiri; Elidiana PhD Bashi; Slovakia: Ivan PhD Brezina; Martina PhD Blašková; Macedonia: Predrag PhD Trpeski; Moldavia: Corina PhD Gribincea; Marica PhD Dumitrasco; Croatia: Dragoljub PhD Stojanov Lorena PhD Škuflić; Zoran PhD Wittine; Montenegro: Boban PhD Melović; Milivoje PhD Radović; Rade PhD Ratković; Ivo PhD Županović; Darko PhD Lacmanović; Ana PhD Stranjančević; Iva PhD Bulatović; Anđelko PhD Lojpur; Serbia: Marko PhD Sekulović; Gojko PhD Rikalović; Nenad PhD Vunjak; Petar PhD Vrgović; Gordana PhD Kokeza; Božidar PhD Stavric; Kristijan PhD Ristić; Snežana PhD Milićević; Drago PhD Cvijanovic; Snezana, PhD Radukic; Saudi Arabia: Bashar Y. PhD Almansour; Yassin PhD Eltahir; Scotland: Kieran PhD James; Slovenia: Andrej PhD Raspor; Marjana PhD Merkač; Iran: Gholamreza PhD Jandaghi; Brasil: Arcione PhD Ferreire Viagi; Fábio PhD Albergaria de Queiroz; Poland: Piotr PhD Wisniewski; Algeria: Kherchi PhD Ishak; Ukraine: Olha PhD Komelina; Tetiana PhD Paientko; Belorussia: Oksana PhD Koshulko; Sri Lanka: Ahamed PhD Labbe Mohamed Aslam; Turkey: Hüseyin PhD Işıksal; Metin PhD Toprak; Zeki Atil PhD Bulut; New Zeland: Tauisi PhD Taupo; Indonesia: Teguh PhD Sugiarto; Oman: Mythili PhD Kolluru; Greece: Konstantinosdr PhD Malagas; Constantinos PhD Challoumis; Egypt: Azza PhD Mohamed Kamal; Uganda: Michael PhD Okoche; Czech Republic: Lucie PhD Andreisová; Bulgaria: Julia PhD Stoyancheva Stefanova; Morocco: Fouzi PhD Belmir

TECHNICAL EDITOR AND GRAPHIC DESIGN:

Borjan Divljanović, Graphic studio PIXEL – 76 300 Bijeljina, BiH

TRANSLATION TO ENGLISH:

Nemanja Jovanović

PAPERS PUBLISHED IN “ECONOMICS“ JOURNAL ARE ABSTRACTED AND INDEXED BY:

EBSCO: EBSCO Discovery Service; De Gruyter open; DOAJ; DOI Srpska; Baidu Scholar; Celdes; CNKI Scholar; SIS – Scientific Indexing Services; CNPIEC; ERIH PLUS; Google Scholar; J-Gate; Journal TOCs; Naviga; Primo Central (ExLibris); ReadCube; Research Papers in Economics; (RePEc); MIAR;

ADRESS OF THE EDITORIAL BOARD:

Neznanih junaka 9-11

76300 Bijeljina

Republic of Srpska

Bosnia and Herzegovina

e-mail: novi.economics.institut@gmail.com

Web site: www.oikosinstitut.org/economics.html

www.economicsrs.com

https://content.sciendo.com/view/journals/eoik/eoik-overview.xml

Bank account: 5550000004916269, Nova banka, Filijala Bijeljina

ID: 44035724600004

PRINTED BY:

Mojic, d.o.o Bijeljina

Number of copies: 300 primjeraka

KATALOGIZATION:

Printed issue: ISSN 2303-5005

Online issue: E-ISSN 2303-5013

Decision of the Ministry of Education and Culture of the Republic of Srpska No.: 07.061-053-52-12/13, od 10.12.2013, The Journal “Economics“ entered in the Register of Public Media as item No. 645

ČASOPIS ECONOMICS, BROJ 12 – CIJELO IZDANJE