|Opis:||This master’s thesis deals with the characteristics of international trade and its impact on the economy. Without international economic cooperation between countries, it would be impossible to ensure successful development and fully meet the demand for goods. Today, more than ever, no national economy can afford to be isolated from the rest of the world. Terms such as global economy and global village show that everyone on the planet depends on one another.
The first part of the master's thesis outlines the emergence and development of international trade. Technological advancements and the elimination of economic, logistical, legal and mental barriers contributed to the emergence of the process known today as globalisation. Globalization refers to the historical process of the accelerated integration of the global economy, which in the strict sense encompasses trade and financial flows, but more broadly speaking also includes the movement of people and knowledge. The growing scale of international trade has given rise to a need to harmonise trade laws, rules, customs and practices. In 1995, the World Trade Organization was established to facilitate free and unhindered trade between countries. Today, the United States of America, the European Union and China are three of the largest international traders, contributing more than 10% of total global trade.
The second part of the master's thesis focuses on the economies of Slovenia and Bosnia and Herzegovina (BiH), analysing and defining the characteristics of their macroeconomic, business and investment environment and providing a good insight into the characteristics of their economies. We were particularly interested in the two countries’ international trade activity and their main trade partners. We have found that Slovenia’s main trade partners (Germany, Italy, Austria, Croatia and France) are also the main trade partners of BiH.
The third part provides an overview of the economic cooperation between Slovenia and Bosnia and Herzegovina, outlining the political and economic relations between the countries and the bilateral agreements signed to facilitate their cooperation and reduce trade barriers. A detailed presentation is provided of the trade in goods between the countries between 2004 and 2014, with an analysis of their import and export in individual industries. We have found that export from Slovenia to BiH had grown at a slower rate than export from BiH to Slovenia.
The empirical part of the master’s thesis is based on an analytical approach. We used the descriptive method to analyse individual economic indicators (GDP, import, export, inflation, unemployment rate, foreign direct investment, interest rates) for the period of 2004–2014. A regression analysis showed a positive correlation between certain economic indicators of Slovenia and BiH.|