Emergence of the International Political Economy as a platform for a complex interface between economy and politics coincides with a strong momentum of the last phase of globalization. The interdependence is explained through the prism of three classical theories, liberalism-as a pro-globalist theory, mercantilism, and Marxism, both skeptical of globalization. Shrouded in numerous controversies globalization has indeed achieved limited results. Paradoxically, actors in the borderless, neoliberal world are exclusively driven by capital. Governments often allow transnational companies to dictate market developments with direct influence on employment, gross domestic product, and power distribution. The aim of this paper is to show whether the neoliberal order is on the wane, an order in which non-liberal measures such as trade protectionism and border closure are increasingly being resorted to pushing back the processes of world economy liberalization. The basic liberal, democratic pillars of equality and justice have collapsed before the interest-driven economy.

—In order to analyze the feasibility of implementing elements of new communication systems under an SDR approach, this work presents the prototyping of an OFDM communication link using the GNU Radio open source tool and low cost hardware interface with HackRF One and RTL-SDR. Preliminary results have shown promise, allowing the design and testing of digital communication systems in a practical way and taking into account the real condition of the channel and deficiencies of the front-end

This paper presents an empirical verification of the effectiveness and usefulness of investment diversification using the main stock exchange indices and Bitcoin. The objective is to determine the effects applying the Markowitz portfolio optimization theory, i.e., the advantages of applying the modern portfolio theory for institutional investors. The research offers an answer to the following question: what are the advantages and disadvantages of using Bitcoin in portfolio optimization? The paper contributes to the representation of the reach and limitations of the modern portfolio theory for institutional investors. The conclusion is that rational behaviour of institutional investors requires consideration of portfolio optimization using the Markowitz model, because it is possible to create portfolios which, on the basis of historical returns, provide desired returns alongside certain risks. The methodology includes the analysis of high frequency data, i.e., daily trading data were used. The results indicate that the use of the Markowitz portfolio selection method, with all its limitations, is desirable, possible and applicable, but that it entails serious flaws in the sense of neglecting transaction costs, foreign exchange differences and the real value in the stock market. The results of the research show that Bitcoin is a good source of diversification in a portfolio that contains traditional financial instruments both for the risk-averse investor as well as for those investors who have a greater appetite for risk. The conclusion is that rational behavior of institutional investors requires consideration of investing in Bitcoin using the Markowitz model. However, given the high degree of volatility, investors should be very careful when making decisions about including Bitcoin in the portfolio.

ISSN 2620-0406 Citation: Šikman, M. M, & Grujić, M. (2021). Relationship of AntiMoney Laundering Index with GDP, financial market development, and Human Development Index. NBP. Nauka, bezbednost, policija, 26(1), 21–33. doi:10.5937/nabepo26-29725 Abstract: Money laundering has a direct impact, among other things, on the economic development of a country. The aim of this research is to determine the correlation between money laundering and economic development expressed through GDP, as well as between financial market development (FDI) and the Human Development Index (HDI). The results of the research show that there was a significant relationship between the observed variables, i.e. that there is a relation of the Anti-Money Laundering Index (AMLI) on GDP, financial market development and the HDI. Namely, given that medium-strong links between the observed variables have been established, it can be claimed that there is reason to believe that “copying the behaviour” of a certain country in the fight against money laundering can further develop the financial market, influence human development or an increase in GDP per capita. In particular, a decrease in the AMLI was expected to increase the FDI (R2 = 0.2601). A decrease in the AMLI was expected to increase the HDI (R2 = 0.5747). In that way, financial institutions are directly affected, which negatively relates to economic and political stability.

Bosnia and Herzegovina, having an extremely complex state system and at the same time being a developing country and economy in transition with a commitment to membership in the European Union, faces numerous challenges in adapting national legislation to the acquis communautaire. One of the key segments of the introduction of European standards is the establishment of an effective mechanism for the protection of competition in legislative and institutional terms. With the adoption of the Competition Law in 2005, which brings new solutions and is largely in line with the acquis, Bosnia and Herzegovina has made a significant step forward from the previous state of legal irregularity in this important segment. However, sixteen years of the enforcement of the BiH Competition Law have shown certain shortcomings regarding the particular solutions contained in it. These shortcomings concern the part of the provision of the law that regulates procedural issues, but also the functioning of the authority responsible for the protection of competition in Bosnia and Herzegovina and it can be assumed that these are obstructive elements in response to the challenges of COVID-19 pandemic. In order to follow the international trends, companies in BiH have entered into a process of business digitalization, which, however, being accelerated due to COVID-19 pandemic, has created many challenges before the Council of Competition of BiH as the authority responsible for public enforcement of the competition law. The aim of this paper is to question the extent to which COVID-19 pandemic has affected the work of the Council of Competition BiH, as well as to address some of the particular issues it has faced before the pandemic, including growing market concentration, growing power of digital platforms, protectionism, consumer vulnerability and consequent loss of public confidence. In order to meet the set research goals, the first part of the paper will present an analysis of the legal solutions in the context of the legal and institutional aspect of competition protection and will provide an overview of the situation regarding the digitalization of business operations in Bosnia and Herzegovina. The second part of the paper will provide an analysis of the work of the Council of Competition of BiH with special reference to the period of declaring the pandemic COVID-19.

Globally, when accessing and driving in public transport vehicles, women have a problem with fear, experiences of sexual harassment and violence. Women's daily trips are very different from those made by men. These factors make a woman more vulnerable, as standard public transport companies do not consider these characteristics enough. The safe public transport option also helps increase the number of women in economic activities. The way of traveling determines the type of work or shift that the woman will accept. Mobility provides women with financial strength and independence, and currently access to safe public transport, both in Sarajevo Canton and throughout Bosnia and Herzegovina, and it can be said that it is not at a satisfactory level in the region, so urgent actions need to be taken. The concept for the implementation of gender equality within the Erasmus + TRAFSAF project, modeled on EU projects, is that all project partners, both those coming from the segment of higher education and NGOs, keep gender statistics and that measures to promote enrollment must be provided. female populations at all levels of study. It is also a requirement for project participants to increase the participation of women as trainers, as well as to enhance the presence of women in trainings related to traffic safety during the project. These activities should continue after the completion of the project, bearing in mind that it is necessary to integrate gender equality in the segment of traffic safety.

The influence of light and temperature stress conditions and oxygen availability on the chemical composition of Satureja montana and Lavandula angustifolia essential oils is reported. Photostability and thermal stability were evaluated by gas chromatography-mass spectrometry (GC‑MS) analysis, comparing composition before and after the applied regimes. In Satureja montana essential oil, the amount of thymol (13.0-11.9%) and carvacrol (10.3-9.4%) decreased at elevated temperature and in the presence of air, with a simultaneous increase of p-cymene (24.2‑26.2%) while in an inert atmosphere the composition remained the same as in fresh oil. Light caused a dehydrogenation of α-terpinene (2.1-0.9%) and γ-terpinene (5.6‑4.7%) to p-cymene (24.2-25.9%) and decrease of trans-caryophyllene (5.1-4.3%). In Lavandula angustifolia essential oil, compounds sensitive to elevated temperature and the presence of oxygen were cis‑ocimene (2.8-2.2%) and trans‑ocimene (2.6-2.0%), alloocimene (3.0-2.3%), trans‑caryophyllene (4.3-3.6%) and β-farnesene (1.7-1.2%). Irradiated samples showed a decrease in the content of cis-ocimene (2.8-1.9%), alloocimene (3.0‑2.0%), crypton (0.6-0.1%), cuminal (0.3-0.0%), trans‑caryophyllene (4.3-3.5%), β-farnesene (1.7-1.1%) and germacrene-D (0.5-0.1%) and an increase of trans-ocimene (2.6-3.5%), β-bourbonene (0.0-0.2%) and several unidentified peaks. Both oils showed an individual response to light and temperature stress. The absence of oxygen and light is the only storage regime under which the initial composition can be preserved.

Introduction/purpose: Molodtsov introduced the concept of soft sets as a new mathematical tool for dealing with problems containing uncertainties. In the literature, different kinds of operations of soft sets are defined and used in theory and applications. Methods: This study is based on the paper "A New Operation on Soft Sets: Extended Difference of Soft Sets" by Sezgin, Ahmad and Mehmood [Journal of New Theory 27 (2019) 33-42]. Results: In this paper, we define a new operation on soft sets, called extended symmetric difference and investigate its relationship between extended symmetric difference and restricted symmetric difference and some other operations of soft sets. Conclusion: The author believes that the obtained results represent a significant improvement of many known results in the existing literature.