Effects of global and regional integration on the labor market in Bosnia and Herzegovina

• Main Authors: Mastilo Zoran, Simić Suzana
• Format: Article
• Language: English
• Published: University of Novi Sad - Faculty of Economics, Subotica 2014-01-01
• Series: Anali Ekonomskog fakulteta u Subotici
• Subjects: globalisation; regionalisation; neo-liberalism; labour market; unemployment; macroeconomic objectives; way out of the crisis; solution system
• Online Access: https://scindeks-clanci.ceon.rs/data/pdf/0350-2120/2014/0350-21201432163M.pdf

Looking at globalization, the rapid growth of the world economy and the increasing interdependence of national economies, it can be said that it is primarily the result of economic liberalization, which, as the core of globalization, opening up new questions and poses new tasks for economic policy, especially when it comes to its relation to labor force and employment. Bosnia and Herzegovina approaches to this phenomenon as a necessary condition of its economic and industrial development. One of the most important impacts of globalisation was the impact on regionalism and regionalisation. Regional policy is extremely important for the Republic of Srpska, due to its specific location as an entity within Bosnia and Herzegovina. A significant issue refers to the situation of the labour market, faced with the consequences of the economic crisis. In this context, the main causes of insecurity and instability in countries that support its basis and looking at economic development. One of the most important policies, in order to find a way out of the crisis in the Republic of Srpska, Bosnia and Herzegovina and on a global scale, is the policy of Regional Development. The development of this policy will be of the utmost importance for a regulated and developed labour market in Bosnia and Herzegovina.