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In the Next Issues
In the next issues of the MEST Journal, among others, we will publish:
Ljubomir Miljković and Milan Janković
MACROECONOMIC DYNAMICS AND GDP TRENDS IN THE WESTERN BALKANS, 2019–2024 To read the article before publishing click here
Abstract:
This paper examines macroeconomic dynamics and gross domestic product (GDP) trends in the Western Balkans over the period 2019–2024, with particular emphasis on the effects of the COVID-19 crisis and the subsequent phase of recovery. Using a comparative macroeconomic approach based on officially published data from international financial institutions, the study analyzes GDP growth rates, cross-country differences, and variation in the pace of recovery across the region. The results show a sharp contraction in 2020, especially in tourism-dependent economies, followed by ...    
This paper examines macroeconomic dynamics and gross domestic product (GDP) trends in the Western Balkans over the period 2019–2024, with particular emphasis on the effects of the COVID-19 crisis and the subsequent phase of recovery. Using a comparative macroeconomic approach based on officially published data from international financial institutions, the study analyzes GDP growth rates, cross-country differences, and variation in the pace of recovery across the region. The results show a sharp contraction in 2020, especially in tourism-dependent economies, followed by a strong rebound in 2021 largely driven by base effects and fiscal support measures. However, during 2022–2024 growth moderated, reflecting inflationary pressures, energy price shocks, weaker external demand, and persistent structural restrictions. Despite certain signs of stabilization, significant heterogeneity remains, linked to differences in economic structure, institutional capacity, and exposure to global shocks. The findings deepen understanding of macroeconomic performance in the Western Balkans during periods of crisis and normalization, while offering policy-relevant insights for strengthening economic resilience, accelerating structural transformation, and supporting more sustainable long-term growth.
Keywords: Western Balkans, GDP growth, Macroeconomic dynamics, Economic recovery, Regional economic analysis, COVID-19 impact
RESPONSE TO WOJDA ON EVICTIONISM, PRO-LIFE AND PRO-CHOICE To read the article before publishing click here
Abstract: Professor Wojda is not exactly a fan of my evictionist theory. He accurately explicates it but does nothing to obliterate it. Instead, he maintains that my own understanding of the pro-life and pro-choice theories that I mean evictionism to supplant is faulty. He also opines that my use of metaphors is problematic. I am exceedingly grateful to him for helping me publicize this perspective ...    
Professor Wojda is not exactly a fan of my evictionist theory. He accurately explicates it but does nothing to obliterate it. Instead, he maintains that my own understanding of the pro-life and pro-choice theories that I mean evictionism to supplant is faulty. He also opines that my use of metaphors is problematic. I am exceedingly grateful to him for helping me publicize this perspective of mine. As he notes, I have been at it since 1977. I regret that I have not made virtually any headway at all in having this policy implemented, let alone widely discussed. With his important efforts, hopefully this state of affairs will soon end. I learned a great deal from Professor Wojda’s paper and am grateful to him for it. My thought, hope, is that this correspondence on this complex matter will enable both of us, together, to shed more light on it than would otherwise be the case.
EMPLOYING AI TO IMPROVE SUSTAINABLE GROWTH INDICATORS IN FINTECH PLATFORMS: ZEST AI
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Abstract:
With the rapid spread of advanced digital technologies in financial services, this study examines how artificial intelligence can improve the effectiveness of sustainable‑growth indicators on fintech platforms, treating these indicators as strategic levers for operational efficiency and service quality. The American AI platform Zest‑AI is used as a case study because of its success in developing AI‑based credit‑assessment solutions that expand customer reach and accelerate lending decisions at banks and financial institutions. The study finds ...    
With the rapid spread of advanced digital technologies in financial services, this study examines how artificial intelligence can improve the effectiveness of sustainable‑growth indicators on fintech platforms, treating these indicators as strategic levers for operational efficiency and service quality. The American AI platform Zest‑AI is used as a case study because of its success in developing AI‑based credit‑assessment solutions that expand customer reach and accelerate lending decisions at banks and financial institutions. The study finds that integrating generative AI, machine learning, and deep learning into digital financial platforms enables the creation of intelligent lending models that strengthen the financing capacity of banking and financial institutions. Results from the Sustainable Growth Index show that the Zest‑AI platform attains a very high level of sustainable growth, indicating economic efficiency, promotion of social equity, and an orientation toward environmentally conscious digitalization. This performance is classified as a high degree of sustainability maturity.
CONDITIONALITY OF MILITARY AID TO ISRAEL: A CRITICAL ANALYSIS OF THE NEW YORK TIMES EDITORIAL BOARD POSITION To read the article before publishing click here
Abstract:
This article examines the April 2024 editorial by the New York Times Editorial Board advocating conditional constraints on U.S. military aid to Israel. Through the lens of international law, just war theory, and foreign aid jurisprudence, we analyze whether the proposed conditionality framework represents a legitimate application of donor state prerogatives or constitutes an inappropriate restriction on Israel's sovereign right to self-defense under Article 51 of the UN Charter. The article demonstrates that while all foreign military assistance inherently involves conditions, the specific constraints advocated by the Times Editorial Board ...    
This article examines the April 2024 editorial by the New York Times Editorial Board advocating conditional constraints on U.S. military aid to Israel. Through the lens of international law, just war theory, and foreign aid jurisprudence, we analyze whether the proposed conditionality framework represents a legitimate application of donor state prerogatives or constitutes an inappropriate restriction on Israel's sovereign right to self-defense under Article 51 of the UN Charter. The article demonstrates that while all foreign military assistance inherently involves conditions, the specific constraints advocated by the Times Editorial Board would effectively impair Israel's capacity to prosecute a defensive war against state and non-state actors engaged in systematic violations of international humanitarian law. Drawing on comparative analysis of U.S. wartime conduct in World War II and legal scholarship on the jus ad bellum and jus in bello distinction, we argue that Hamas bears sole responsibility for civilian casualties resulting from its war crime of using human shields. The article concludes by examining implications for the Arms Export Control Act, the Leahy Law, and broader questions of ally sovereignty in asymmetric conflicts against non-state actors.
Keywords: military aid, United States, Israel, Iran proxies, New York Times, international humanitarian law, Just war theory, human shields.
PROSPECTS OF THE DIGITAL ECONOMY: AI, CONNECTIVITY, AND LONG-TERM EFFICIENCY
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Abstract: This study aims to explore the prospects of the digital economy amid global technological transformations by examining three main pillars: specialized artificial intelligence, the expansion of global connectivity, and the promotion of a sustainable digital economy. Drawing on international reports, academic studies, and practical experiences, the study finds that specialized artificial intelligence constitutes a strategic driver for developing solutions tailored to local needs, thereby enhancing service efficiency and strengthening the competitiveness of emerging economies. Furthermore, the expansion of high-speed connectivity is ...    
This study aims to explore the prospects of the digital economy amid global technological transformations by examining three main pillars: specialized artificial intelligence, the expansion of global connectivity, and the promotion of a sustainable digital economy. Drawing on international reports, academic studies, and practical experiences, the study finds that specialized artificial intelligence constitutes a strategic driver for developing solutions tailored to local needs, thereby enhancing service efficiency and strengthening the competitiveness of emerging economies. Furthermore, the expansion of high-speed connectivity is identified as a prerequisite for integrating economies into global value chains and fostering collaborative innovation. In parallel, supporting a sustainable digital economy represents a strategic framework that aligns digital transformation with the Sustainable Development Goals through the integration of renewable energy, green computing, and responsible digital governance mechanisms. Overall, the findings indicate that building a balanced digital economy requires the integration of technological innovation with sound policies, strengthened international partnerships, sustained investment in digital infrastructure and skills development, and the adoption of data transparency and disclosure policies to ensure long-term sustainability.
Keywords: digital economy, specialized AI, global digital integration, sustainable digital economy, sustainable development, digital infrastructure
PANEL EVIDENCE ON FINANCIAL DRIVERS OF ALGERIAN FIRM’S RETURNS (2019-2024) To read the article before publishing click here
Abstract: This study investigates the influence of key financial variables on the profitability of Algerian firms using panel data from 37 companies spanning 2019–2024. Return on Assets (ROA) and Return on Equity (ROE) serve as dependent variables, while long-term debt ratio, financial leverage, liquidity, and firm size constitute the primary explanatory factors. Panel regression analysis reveals a significant negative association between long-term debt and ROA, indicating reduced asset efficiency under high indebtedness, whereas firm size exerts a positive effect on both profitability measures. Liquidity shows no significant impact, and financial leverage displays mixed effects ...    
This study investigates the influence of key financial variables on the profitability of Algerian firms using panel data from 37 companies spanning 2019–2024. Return on Assets (ROA) and Return on Equity (ROE) serve as dependent variables, while long-term debt ratio, financial leverage, liquidity, and firm size constitute the primary explanatory factors. Panel regression analysis reveals a significant negative association between long-term debt and ROA, indicating reduced asset efficiency under high indebtedness, whereas firm size exerts a positive effect on both profitability measures. Liquidity shows no significant impact, and financial leverage displays mixed effects across models. Robustness is confirmed through comprehensive diagnostic tests including heteroskedasticity, autocorrelation, and multicollinearity assessments. These findings offer critical implications for financial decision-making and policy formulation within Algeria's dynamic business environment. The analysis employs fixed effects models to control for firm-specific heterogeneity, providing reliable evidence on debt-profitability dynamics in an emerging market context. Such insights aid managers in optimizing capital structures amid economic volatility.
Keywords: Panel econometrics, return on assets, return on equity, financial determinants, firm profitability.
THE EXTENT OF APPLICATION OF OCCUPATIONAL SAFETY AND HEALTH MANAGEMENT IN ECONOMIC INSTITUTIONS To read the article before publishing click here
Abstract: Human resources represent a fundamental element in ensuring the continuity of industrial and service organizations alike, which necessitates the provision of a safe working environment that protects employees from various occupational hazards. This study aims to assess the extent to which occupational health and safety management is applied in the National Paint Company – Souk Ahras Unit. The study adopted a descriptive-analytical approach and ...    
Human resources represent a fundamental element in ensuring the continuity of industrial and service organizations alike, which necessitates the provision of a safe working environment that protects employees from various occupational hazards. This study aims to assess the extent to which occupational health and safety management is applied in the National Paint Company – Souk Ahras Unit. The study adopted a descriptive-analytical approach and relied on a questionnaire distributed to a sample of the company’s employees. After collecting and statistically analyzing the data, the results revealed a moderate level of implementation of occupational health and safety management requirements within the studied institution. However, several shortcomings were identified, particularly in the consistency of applying safety procedures and in the availability of protective equipment, which require systematic attention and corrective measures. In light of these findings, a set of recommendations was proposed to strengthen occupational health and safety practices, enhance compliance, and improve the overall working environment in a manner that ensures employee well-being and contributes to sustainable institutional performance.
DIGITAL ALGERIA 2030: AN ANALYSIS OF THE DIGITAL TRANSFORMATION STRATEGY To read the article before publishing click here
Abstract: The present study analyzes the Algeria Digital 2030 strategy by situating it within the dual context of organizational digital transformation and the evolution of Algerian public policies. It first defines digital transformation as a process of reconfiguring organizational models, information systems, and competencies. Then, it traces the gradual development of the digital economy in Algeria, from the liberalization of telecommunications to the launch of the National Digital Transformation Strategy 2025–2030. The study then outlines the strategy’s objectives and pillars, emphasizing ...    
The present study analyzes the Algeria Digital 2030 strategy by situating it within the dual context of organizational digital transformation and the evolution of Algerian public policies. It first defines digital transformation as a process of reconfiguring organizational models, information systems, and competencies. Then, it traces the gradual development of the digital economy in Algeria, from the liberalization of telecommunications to the launch of the National Digital Transformation Strategy 2025–2030. The study then outlines the strategy’s objectives and pillars, emphasizing infrastructure modernization, improved public services, a competitive digital economy, and a strengthened legal and cybersecurity framework. It presents the Algeria Digital 2030 vision through five structural axes (ICT infrastructure, human capital, digital governance, digital economy, and digital society) and two cross-cutting foundations (regulatory framework and information system security), accompanied by ambitious quantitative targets. Finally, the study discusses the challenges, issues, and prospects of this transformation, emphasizing both its strategic role in national sovereignty, state modernization, and economic diversification, as well as the persistent constraints related to territorial disparities in access, skills deficits, digital governance, and citizens’ adoption of online services.
Keywords: digital transformation, Algeria Digital 2030, strategy, strategic axes.
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