In order to estimate elasticity of demand for tobacco products authors of this paper used aggregate level data. Research among low and middle income countries over the world empirically showed that demand for tobacco products is usually inelastic. Analysis conducted in the Republic of Serbia showed that price elasticity ranged between -0.76 and -0.62 while income elasticity ranged between 0.34 and 0.39. The main aim of this paper is to estimate long run and short run demand elasticity based on aggregate level data for period 2002-2016 using Error Correction model. This research is unique in the SEE countries, while research conducted in other low and middle income countries in Western Balkan region showed similar results.
The subject of this paper is the analysis of cooperation between science and business in the Republic of Serbia. The main goal of the paper is to identify the level of cooperation, the achieved results and the scientific areas in which the cooperation is being carried out, through the analysis of the current state of cooperation between science and business. The paper should serve as the starting point for future research, where the effects of profitability of investments in science at macro and micro level will be evaluated. The analysis used the official data on the achieved results in scientific research activities from the Statistical Office of the Republic of Serbia, and data from the Ministry of Education, Science and Technological Development. The obtained results showed that Serbia has a potential in the science sector, but that it is not sufficiently used by the economy since researchers focus exclusively on the production of scientific work.
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