Foreign trade indicators change in response to the global financial crisis and ultimately have a major impact on fiscal sustainability. Likewise, the increase in the budget deficit and public debt affects the growth of long-term and short-term interest rates, and the overall fiscal stability. The main objective of this paper is to review the impact of the global financial crisis on the tendency of the public debt in Bosnia and Herzegovina and various Western Balkans countries. Specifically, as the Maastricht criteria established a 60% of GDP debt limit, the paper will analyse the given limit, and the interdependence of imports in Bosnia and Herzegovina and the public debt of the general government sector by a simple regression analysis for the period 2008–2012. Thus, the regression model will be used to assess the dependence of the public debt of the Government of Bosnia and Herzegovina due to the increase of imports and exports of goods, as well as well as conditionality of export of goods and income. Keywords: Indicators of foreign trade, imports, exports, public debt

The latest Basel Accord, which relies on the New Capital Accord (i.e. Basel II) and whose basic goals have been, from a normative standpoint, enhancing the banking sector’s ability to absorb the losses arising from economic distresses like the global financial crisis (2007-2009), improving risk management and governance, and strengthening the bank's transparency and disclosures, operationally emphasises the need to improve the quality and quantity of capital components, liquidity standards, and leverage ratio. The implementation of the Accord in developed economies started at the beginning of 2013 and the overall transition period from the Basel II framework should end by the year 2019. But as far as emerging economies are concerned, there are several issues on the road of implementation, such as necessary (technical) skills and expertise of bank staff as well as their supervisory institutions, sophisticated internal rating mechanisms and capacity, significant amount of new information and recordkeeping, etc. This paper discusses real and potential effects of Basel III in both developed and emerging economies. A special emphasis is given to the banking sector of Bosnia and Herzegovina. Keywords: International banking standards, Basel accords, Basel III, effects, developed economies, emerging economies, Bosnia and Herzegovina

Many modern countries have significant problems with disparities in development between core and periphery. Municipality of Kupres in Bosnia and Herzegovina is one typical example of peripheral area, which is located within the sparsely populated region of Dinaric Karst Highland. It is taken for the case study in this paper, because it shows certain signs of economic activation in the field of tourism. However, its mainstream tourism offer is of seasonal character, and it is not sufficient for sustainable economic growth and significant progress in socio-economic sense. That is why tourism offer need to become more diversified. Methodology in this paper is focused on analysis of all potentials and motives that wider area of Kupres possesses, which can be valorized through systematic approach of institutions and local community. It is intended to emphasize a significance of geographical expertise in these kinds of problematic. Field research and GIS analysis are used for exploration of study area.

Na uzorku od 100 studentica Visoke zdravstvene škole Univerziteta u Bihaću je urađen eksperiment u trajanju od 6 mjeseci s ciljem utvrđivanja razlika između dvije grupe ispitanika i to jedne koja je radila step aerobik dva puta nedjeljno i druge kontrolne koja nije imala organizovano tjelesno vježbanje. Na osnovu t-testa i diskriminacijske analize utvrđeno je da je došlo do statistički značajnih razlika između ove dvije grupe ispitanika. Rezultati pokazuju da je došlo do promjena kod ispitanika eksperimentalne grupe između inicijalnog i finalnog mjerenja a također se to odrazilo i na razlike između eksperimentalne i kontrolne grupe. Izolovana je jedna diskriminaciona funkcija koja ima vrlo visoku statističku značajnost. Na osnovu dobijenih rezultata može se potvrditi da je došlo do poboljšanja rezultata morfoloških karakteristika kod studentkinja, iako su vježbale samo dva puta nedjeljno. Pokazalo se da je došlo i do redistribucije sastava tijela na račun poboljšanja volumena a na štetu masnog tkiva.

<p style="text-align: justify;">From the point of quality production management, the flexible group production of furniture has its specifications that are the subject of this paper work. The organization of production and the quality control has to start from the clear defining of customers&rsquo; requests. Within the condition&nbsp; of this production concept, the customers&rsquo; demands have to be clear and, transferred into measurable characteristics. The mode of defining the key<br />parameters presents important point and theories of inventive problem solving (TRIZ) can be different. This paper work covers the model of quality management meant to define customers&rsquo;demands, transferred into clear and measurable parameters including definition of methods and theories of inventive problem solving.</p>

Gaucher disease is a hereditary genetic abnormality which defects the pathway of sphingolipid catabolism. The mutation of GBA gene which encodes lysosomal β-glucosidase enzyme is the main characteristics of the disease also is observed in different cancer types. To find the relation between the disease and colon adenocarcinoma, the responsible gene expression of Gaucher disease was analyzed. The gene expression of colon adenocarcinoma was was compared between death and alive patients and analyzed statistically to profile the differences between Gaucher disease genes expression changes. GBA, GBA2, GBA3, SCARB2 and PSAP have the maximum genetic alteration which is observed in colon adenocarcinoma.

The war during the period 1992-1995 has caused massive forced migrations of the population in Bosnia and Herzegovina and in this period about 1.2 million people fled beyond the borders of Bosnia and Herzegovina while about 1 million were displaced inside the country. After the Dayton Peace Agreement, there started the process of return of refugees and displaced persons in Bosnia and Herzegovina. However, even after more than 20 years since the signing of the Agreement a significant number of refugees and displaced persons has not returned to their pre-war places of residence. This paper explores the number and the change in the status of the internally displaced Bosniaks of Srebrenica Municipality in the period 2005-2015, those who were residing in Tuzla Canton of the Federation of Bosnia and Herzegovina. According to the Federal Ministry of Refugees and Displaced Persons in Tuzla Canton, in 2005, the status of internally displaced persons had 2016 households with a total of 5549 members, and by 2015 this status has kept 1099 households with a total of 2867 members. The aim of this paper is to point out to some more significant factors that led to a reduction in the number of Bosniaks from the area of Srebrenica municipality who had the status of internally displaced persons in Tuzla Canton.

1. THEORETICAL BACKGROUND OF THE RESEARCHThe problem of financing entrepreneurial activity is probably as old as this activity itself. Many businesses fail due to problems in financing. Mostly, early stage businesses are in need of start-up capital.Literature on financing entrepreneurial activity recognises two main sources of financing entrepreneurial activity: personal resources and financing from external resources. There are numerous factors which influence the use of these sources of financing (e.g. stage of development, age, entrepreneur's gender, development of financial markets etc). Sherman (2005) found that in the initial phase of business development entrepreneurs mostly use personal funds, or rely on government funds.Early stage funding of entrepreneurial activity in the Western Balkan countries is influenced by a number of market failures which are considered to be major obstacles for further entrepreneurship development in this region. Even though the Balkan region has an emerging start-up scene the governments are not sufficiently supporting their development. Government support for entrepreneurs in early stages of entrepreneurial activity is of great importance because most of these businesses are not eligible to apply for commercial bank loans due to formal, and strict procedures, as well as a high risk which is related to the early stages of business operations. In most cases banks are unwilling to consider giving loans to start-ups, which are mostly in need of new capital in order to finance their further growth or even in need of initial capital in order to start a business. According to Aktekin & Sohl (2011), searching for capital for entrepreneurs is a time consuming process that can have serious effects on survival of the business and its growth. Cassar (2004) claims that early stage external funding is important and critical in the early stage of the venture's existence.Lerner (2009) stated that governments have a positive role in "kick-starting entrepreneurship" and their funding is important, especially in times of crisis, because entrepreneurship is a business with increased returns. Even though the general entrepreneurial climate is important, it is equally important that governments "intervene directly in the entrepreneurial process" through fund allocation. Vanacker and Deloof (2013) believe it was the financial crisis which began around 2008 that turned the focus of researchers towards financing and success of business start-ups. Availability of financing for SMEs has also been determined as important for their growth and development (Ou, Haynes, 2006; Cook, 2001). Specific financing strategies are required especially during the start-up phase due to the lack of trading history or higher risks (Berger & Udell, 1998; Cessar, 2004; Huyghebert & Van de Gucht, 2007). However, some authors agree that financing of start-ups cannot be standardized and that the lifecycle/financing approach is not applicable to all SMEs in all industries and of all sizes (Abdulsaleh & Worthington, 2013; Gregory et al., 2005; Berger & Udell, 1998). These findings, however, are opposite to the presumptions of Myer's (1984) pecking-order theory suggesting that internal sources of financing are prioritised during early stages of firm's existence wherein external sources are being considered afterwards. On the other hand, other empirical studies like Abdulsaleh & Worthington (2013), Gregory et al. (2005) led to conclusions that older businesses rely more on internal financing due to the fact that they can accumulate earnings and that internal funds are mostly available for their business operations. A recent OECD study (2015) claims that broadening financing options which are available and accessible to SMEs is a key challenge for policy makers in the quest for fostering their development.Different and often contradictory results of various empirical studies indicate that more scientific attention should be directed towards researching this area. …