ECONOMICS – INNOVATIVE AND ECONOMICS RESEARCH JOURNAL 13 (3), SEPTEMBER 2025

https://economicsrs.com/index.php/eier/issue/view/42

PUBLISHED BY: Oikos Institute – Research Center Bijeljina” Bijeljina FOR THE PUBLISHER: PhD Zoran Mastilo, Director
EDITOR IN CHIEF: PhD Stelio Bekiros – Malta
ASISTANT EDITORS IN CHIEF:

PhD Dragana Radičić – United Kingdom PhD Petar Đukić – Serbia

CO-EDITORS:
Bosnia and Herzegovina Dejan Mastilo, Faculty of Business Economics, Bijeljina Bosnia and Herzegovina Sara Drakul, Faculty of Technical Sciences, Novi Sad Bosnia and Herzegovina Andrea Mastilo, University of Westminster, London

EDITORIAL BOARD:
Bosnia and Herzegovina: PhD Bojan Baškot, PhD Mladen Rebić, PhD Goran Popović, PhD Armina Hubana,PhD Muharem Karamujić PhD Jamila Jaganjac, PhD Slobodan Subotić, PhD Ognjen Erić, PhD Andrijana Mrkaić – Ateljević, PhD Zdravko Todorović, PhD Branislav Mašić, PhD Željko Račić, PhD Branka Topić – Pavković

INTERNATIONAL BOARD:
Israel: PhD Gil S. Epstein, PhD Andrey Kudryavtsev; Greece: PhD Phoebe Koundouri, PhD Konstantinos N. Malagas, PhD Constantinos Challoumis, PhD Andreas Papatheodoru, PhD Eirini Daskalaki ; Poland: PhD Andrzej Niemiec, PhD Piotr Wisniewski; Japan: PhD Taro Abe; New Zealand: PhD Mohammad Saud Khan, PhD Tauisi Taupo; Republic of China: PhD Hamid Khurshid, PhD Tafazal Kumail, PhD Zhou Bin; United States: PhD Jason Patalinghug, PhD Tom Gillpatrick, PhD Leland Buddress, PhD Roofia Galeshi, PhD Jason Caudill, PhD Hugh J. Ault, PhD Richard J. Fast, PhD Cevat Tosun; Serbia: PhD Nikola Fabris, PhD Petar Vrgović, PhD Kristijan Ristić, PhD Snežana Milićević, PhD Drago Cvijanović, PhD Snežana Radukić, PhD Zorana Kostić; Brasil: PhD Arcione Ferreire Viagi, PhD Fabio Albergaria de Queiroz; Germany: PhD Willy Legrand, PhD Tristan Nguyen; Australia: PhD Alberto Posso; South Korea: PhD Bipithalal Balakrishnan Nair; Taiwan: PhD Shu Lung Kuo, Massoud Moslehpour; Canada: PhD Iqtidar Shah; United Kingdom: PhD Christopher Hartwell, PhD Denis Hyams-Ssekasi, PhD Lorenzo Trapani, PhD Tarek Abdel Fattah; Switzeralnd: PhD Isabelle Collet; Austria: PhD Ahu Genis – Gruber, Singapore: PhD Zsuzsa Reka Huszar; Spain: PhD Elena De la Poza, PhD Maria – Dolores Guillamon, PhD Francisco Jose Garcia Gonzalez; Portugal: PhD Joao Paulo Vieito; Italy: PhD Ubaldo Comite, PhD Marco Valeri, PhD Leslie Fadlon, PhD Alberto Celani, PhD Gianluca Mattarocci, PhD Marcello Signorelli; Ukraine: PhD Semenenko Tetiana, PhD Olha Komelina, PhD Liudmyla Yurchyshena, PhD Tetiana Paientko, PhD Iryna Lytvynchuk, PhD Viktor Koziuk, PhD Yurii Ivashuk, Ellana Molchanova, PhD Kateryna Kovtoniuk, PhD Oleksandr V. Dluhopolskyi; Hungary: PhD Andrea Szalavetz; Scotland: PhD Kieran James; Sweden: PhD Christer Thornqvist; Finland: PhD Spyros Hirdaris Ceng FRINA; Czech Republic: PhD Lucie Andreisova, PhD Martina Blaškova; Luxembourg: PhD Virginie Terraza; Puerto Rico: Cynthia dr Sénquiz – Diaz; Turkey: PhD Huseyin ISIKSAL, PhD Metin Toprak, PhD Zeki Atil Bulut, PhD Feden KoC, PhD Zafer Oter, PhD Emrah Gulay; Slovakia: PhD Ivan Brezina; Bulgaria: PhD Venelin Terziev, PhD Julia Stoyancheva Stefanova, PhD Marin Petrov Georgiev; India: PhD Ray Titus, PhD Rudrarup Gupta; PhD Sandeep Kumar, PhD Brijendra Singh Yadav, PhD Raul Villamarin Rodriguez, PhD Bhola Khan; Oman: PhD Mythili Kolluru, PhD Vidya Suresh; Romania: PhD Alexadru Nedelea, PhD Rocsana B. Manea Tonis, PhD Manuela Rozalia Gabor; Croatia: PhD Zoran Wittine, PhD Anita Čeh Časni, PhD Kosjenka Dumančić, PhD Lorena Škuflić; Montenegro: PhD Boban Melović, PhD Milivoje Radović, PhD Rade Ratković, PhD Ivo Županović, PhD Darko Lacmanović, PhD Anđelko Lojpur; Macedonia: PhD Predrag Trpeski; Moldova: PhD Corina Gribincea, PhD Marica Dumitrasco; South Africa: PhD Sanja Bauk; Saudi Arabia: PhD Yassin Eltahir, PhD Abu Umar Faruq Ahmad, PhD Melfi Alrasheedi, Mohmaod Alrawad, Abdalwali Lutfi; Slovenia: PhD Andrej Raspor, PhD Marjana Merkac Skok, PhD Marija Bogataj; Iran: PhD Gholamreza Jandaghi; Algeria: Isak Kherchi; Belarus: PhD Oksana Koshulko; Sri Lanka: PhD Ahamed Lebbe Mohamed Aslam, PhD Nisanttha Kurukulasooriya A.; Indonesia: PhD Teguh Sugiarto, Yandra Rivaldo; Egypt: PhD Ahmed Mohamed Elbaz; PhD Azza Mohamed Kamal; Uganda: PhD Micahel Okoche; Morocco: PhD Fouzi Belmir; Ethiopia: PhD Dereje Teklemariam; Bahrain: PhD Adel M. Sarea, Naji Mansour Nomran; Nigeria: PhD Idowu Eferakeya, PhD Andrew E.O Erhijakpo, PhD Felix PhD Enaibre Ighosewe, PhD Lucky Izobo Enakirerhi; The United Arab Emirates: PhD Ana Stranjančević, PhD Ulas Rao, PhD Jelena Janjušević, PhD Hasnan Baber; Pakistan: PhD Ali Ahmad Bodla; Republic of Uzbekistan: PhD Dang Rui; Republic of Cameroon: PhD Alain Aime Ndedi; Jordan: PhD Bashar Almansour, PhD Mohammed Amin Almaiah; Fiji: PhD Ranasinghe Amaradasa; Albania: PhD Brilanda Bushati, PhD Elidiana Bashi; Tailand: PhD Napat Harnpornchai

TECHNICAL EDITOR AND GRAPHIC DESIGN:

Kokan Janković

TRANSLATION TO ENGLISH:

Željka Nedić

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

EBSCO Discovery Service; De Gruyter open; DOAJ; doi Srpska; Baidu Scholar; Celdes; CNKI Scholar; SIS – Scientific Indexing Services; CNPIEC; CEEOL (Central and Eastern European Online Library);EconLit; Elsevier-Scopus; ERIH PLUS; Google Scholar; J-Gate; Journal TOCs; Naviga; Primo Central (ExLibris); ReadCube; Research Papers in Economics; (RePEc); MIAR; Baidu Scholar; Cabell’s Whitelist; CEJSH (The Central European Journal of Social Sciences and Humanities); CNKI Scholar (China National Knowledge Infrastructure); CNPIEC – cnpLINKer; Dimensions; DOAJ (Directory of Open Access Journals); EBSCO (relevant databases); EconBiz; ERIH PLUS (European Reference Index for the Humanities and Social Sciences); Google Scholar; J-Gate; JournalTOCs; KESLI-NDSL (Korean National Discovery for Science Leaders); MIAR; MyScienceWork; Naver Academic; Naviga (Softweco); Primo Central (ExLibris); ProQuest (relevant databases); Publons; QOAM (Quality Open Access Market); ReadCube; Research Papers in Economics (RePEc); Semantic Scholar; Summon (ProQuest); TDNet; Ulrich’s Periodicals Directory/ulrichsweb; WanFang Data; WorldCat (OCLC)

ADDRESS OF THE EDITORIAL BOARD:

Neznanih junaka 9-11
76300 Bijeljina Republic of Srpska
Bosnia and Herzegovina
e-mail: editorial.papers.economics@gmail.com Web site: www.oikosinstitut.org/economics.html

www.economicsrs.com

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KATALOGIZATION:

Printed issue: ISSN 2303-5005
Online issue: EISSN 2303-5013
Desicion 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