Ivana Domazet

This study examines the relationship between perceived and objectively demonstrated digital entrepreneurial competence (DEC) among female higher education students in Serbia. The aim is to assess the extent of calibration between self-assessed and knowledge-based measures of DEC and to explore whether demonstrated competence and calibration differ by employment status and study level. The study applies a cross-sectional quantitative design using two complementary instruments: a self-assessment questionnaire and a knowledge-based test. The data originate from an online survey conducted between March and May 2025 among students in Serbian higher education institutions. The analysis focuses on the subsample of female students who completed both instruments (N = 62). The findings indicate a systematic tendency toward overestimation of DEC. Employed female students demonstrate higher objectively assessed competence, while Master’s students show both higher demonstrated competence and smaller calibration gaps; however, these differences should be interpreted cautiously due to the overlap between employment status and study level in the subsample. The results underline the importance of combining subjective and objective measures in the assessment of DEC and suggest that dual-assessment approaches can help educators and policymakers identify both competence gaps and self-assessment bias.

This paper aims to identify the key drivers of digital payment (DP) usage in Serbia by examining the impact of socio-demographic characteristics. The data were obtained from the latest Global Findex database (2025) and included 974 respondents. Binary logistic regression was employed to determine the influence of gender, age, education, labor force status, income, and urbanicity on the likelihood of conducting DP. The results indicate that gender, age, education, labor force status and income are statistically significant predictors, whereas urbanicity has no statistically significant influence at 10% significance level. The key findings suggest that individuals aged 55+ have approximately 55% lower odds of using digital payments than those aged 18-34, while individuals out of the workforce have 76% lower odds compared to economically active individuals. Additionally, individuals with tertiary education or higher have nearly ten times greater odds of using digital payments than those with primary education or less, while those with secondary education have approximately 3.7 times higher odds. Moreover, individuals in higher income groups (from the third to the fifth quintile) are significantly more likely to use digital payments than those in the lowest income quintile, whereas no significant differences are observed for the second income quintile. The results also indicate no significant differences between urban and rural residents, while gender differences are only weakly significant. Analysis of the marginal effects confirms that digital payment usage is most strongly associated with higher educational attainment, active labor force participation, and higher income, while it is significantly lower among older respondents (55+). Gender differences are weakly significant, whereas no significant differences are observed between urban and rural residents. These insights contribute to a better understanding of individuals' profiles and behavior, thereby providing a basis for formulating strategies to increase the use of digital payment channel.

This paper investigates the trajectory of e-government development in the Baltic states (Estonia, Latvia, and Lithuania) over the period 2010-2024, addressing two research questions: (RQ1) How have the three Baltic states differed in their e-government development trajectories, as measured by the EGDI and its sub-indices? (RQ2) What factors explain the observed divergences between Estonia, Latvia, and Lithuania? The study relies on secondary data from the UN E-Government Knowledgebase and applies a longitudinal comparative analysis of the E-Government Development Index (EGDI) and its three components-the Online Service Index (OSI), the Telecommunication Infrastructure Index (TII), and the Human Capital Index (HCI). The findings reveal that all three countries have progressed to the "very high" EGDI tier by 2024, yet their trajectories differ markedly: Estonia advanced from rank 20 in 2010 to rank 2 in 2024 (EGDI: 0.6965-0.9727), driven by its early institutional investment in digital identity and data-exchange infrastructure; Lithuania rose from rank 28 to rank 21 (EGDI: 0.6295-0.9110) through sustained online service expansion and broadband penetration; and Latvia, after stagnating in the "high" tier until 2018, accelerated to rank 29 in 2024 (EGDI: 0.5826-0.8852) following significant infrastructure investment. The results suggest that institutional commitment and policy continuity, rather than initial resource endowments, are the primary drivers of e-government advancement in this region.

Foreign direct investments are a significant factor in economic growth, technological progress, and increasing the competitiveness of the Serbian economy. The motives driving investors to invest capital in Serbia vary depending on the investor's profile, strategic orientation, and the size and structure of the investment. Investment dynamics and investor motivation can be influenced by global economic trends, economic crises, changes in labor costs, and regional instability. The aim of this paper is to evaluate the motives of foreign investors for investing in Serbia, based on the amount of the investment. The research is based on primary data collected through a questionnaire conducted among foreign investors who invested capital in Serbia from 2001 to 2019. The core group in the research consisted of 88 foreign investors who, using a Likert scale, evaluated 24 investment motives important for deciding to invest in Serbia. Investors were grouped according to the amount of their investments, and descriptive statistical methods, t-tests, and analysis of variance (ANOVA) were used to analyze differences in the importance of individual motives. The results showed that foreign investors' decisions to invest in Serbia depend mainly on two motives: price of labor in Serbia and the desire to conquer a new market. Research results provide valuable information for economic policymakers, enabling them to improve the legal and business environment to make Serbia a more competitive and attractive investment destination.

Women's financial inclusion represents a key element in enhancing women's entrepreneurship. The aim of this study is to investigate the impact of age, education, employment, income quintile, and region on the level of financial inclusion (FI). The data for the four Gulf countries (Gulf Cooperation Council) and five Western Balkan countries were gathered from the Global Findex Database 2017. The total sample includes 3,973 women. Multiple linear regression is used to investigate the impact of socio-demographic factors on FI. Additionally, the paper provides an overview of the latest available data on several indicators related to FI at the macro level. The results show that education, employment, and income quintile have a statistically significant positive impact on FI. The relationship between age and FI is statistically significant, exhibiting an inverted U-shape. This means that FI increases up to 55 years, and after that transition point, it starts to decline. Moreover, the region plays a significant role, considering that the level of FI of the respondents from Western Balkan countries is lower than that of those from the Gulf region.

The main economic factors that influence national competitiveness are GDP growth, inflation, foreign direct investment and the trade balance. The main objective of this chapter is to identify the impact of national competitiveness on economic growth in the Western Balkans. In this context, this chapter will focus on: (1) the theoretical analysis of clusters as a factor in the competitiveness of an economy and (2) the analysis of the state of economic reforms and policies that are crucial for the competitiveness of the Western Balkan (WB) countries, with a direct focus on investment policies and promotion. The study is based on a descriptive analysis of secondary data from the OECD. The period covered by the investment policy analysis is 2018 to 2024, and the results show that national competitiveness in the WB countries needs to be further strengthened by improving the business environment, creating better conditions for investment and promoting innovation, all with the aim of economic growth in these countries.

Foreign direct investment (FDI) is an effective strategy for exploiting a country’s competitive advantages. This paper aims to assess the importance of certain factors of the tax system for the activity of foreign investors in Serbia. In particular, it aims to determine how the national tax structure affects Serbia’s ability to improve its competitiveness in attracting FDI. The research was conducted in the second quarter of 2023 and included an online survey of 88 foreign companies that had invested in Serbia between 2001 and 2019. The study used the one-way analysis of variance (ANOVA) and the independent samples t-test. Four factors were analysed, namely the tax rate and the corporate tax base, as well as the tax rate and the personal income tax base. The results show that the corporate tax rate is the most important factor influencing the decision of foreign investors to invest in Serbia.