Slobodan Subotić – University of East Sarajevo, Faculty of Transportation Doboj, Doboj, Republic of Srpska, B&H

Goran Mitrović – Drina Insurance a.d. Milici, Republic of Srpska, B&H

Vladimir Marković – Drina Insurance a.d. Milici, Republic of Srpska, B&H




4th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2020, Online/virtual, October 8, 2020, SELECTED PAPERS published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-37-0, ISSN 2683-5991, DOI:




The leasing institution is typical for countries with developed market economies, although it keeps gaining more and more importance in transition countries. Therefore, the research in this paper is focused on the financial leasing market in Bosnia and Herzegovina, as one of the countries undergoing transition process. Its basic features have been assessed, together with determining turnover over the observed ten-year period, both in Bosnia and Herzegovina as a whole and in its respective entities. The research aims to establish to what extent has financial leasing contributed to the development of the small and medium enterprise (SME) sector and the economic development of Bosnia and Herzegovina. Modern statistical methods have been applied to analyze the connection and interdependence of leasing and certain macroeconomic indicators in Bosnia and Herzegovina. For the purpose and in the context of this research, the following indicators, such as the values of leasing, gross domestic product, export, import, and foreign direct investments related to the period from 2009 to 2018 are presented in the respective tables and charts. The analysis is based on the application of descriptive and econometric statistical methods of correlation and regression, as well as on the following statistical packages: IBM SPSS ver. 21, Microsoft XLSTAT. A particular, dedicated segment of the analysis refers to determining the impact of financial leasing on the level of SME investment to classic bank loans. That is, to what extent is financial leasing in the function of investment decision-making of small and medium enterprises in Bosnia and Herzegovina.



Financial leasing, GDP, Export, Import, FDI, SME.


Banking Agency of Federation of BH (2009-2018). Annual reports, Sarajevo.
Banking Agency of the Republic of Srpska (2009-2018). Annual reports, Banja Luka
Central bank of BH (2018). Annual reports, Sarajevo.
Council of Ministers of Bosnia and Herzegovina, Directorate for Economic Planning (2009 – 2018) Economic Trends-Annual reports, Sarajevo.
Subotić S, Erceg Ž, Mitrović G (2018). Finansijski lizing u funkciji strategijskog odlučivanja o finansiranju poslovne aktivnosti (eng. Financial leasing in the Function of Strategic Decision-Making – on Financing Business Activities), Poslovni konsultant/Business Consultant No.76., Finconsult Tuzla, Tuzla.

Vukmirović N (2007). Kreiranje povoljnijeg ekonomsko-preduzetničkog ambijenta (eng. Creating a more favorable economic and entrepreneurial environment), Proceedings of the round table “Ambience for Entrepreneurship”, State Agency for Development of Small and Medium Enterprises, Banja Luka.
Vunjak N (2005). Finansijski menadžment – Poslovne finansije (eng. Financial Management – Business Finance), Proleter Bečej, Faculty of Economics in Subotica, Subotica.

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