Abstract. Post transition economies carry the legacy of previous system, supposed to have collapsed in partly due to inability to sustain innovation and technical progress. In terms of innovation activity, they still lag behind advanced market economies. This brings the issue of total factor productivity (TFP) for these countries/industries/firms in focus of research interest. Relying on the TFP firmlevel estimates from the World Bank' Enterprise Survey dataset, we analyse the main contributing factors in following post-transition economies: Georgia, Turkey, Ukraine, Russia, Romania, Bosnia and Herzegovina, FYR Macedonia, Mongolia, Slovenia and Croatia. The potential determinants include variables frequently named in the literature: R&D efforts, human capital, ICT investment, competition (product market regulation) and international trade. The data for the TFP determinants is drawn from Business Environment and Enterprise Performance Survey (BEEPS V), which includes both objective variables and perceptions of firms' management. Since many objective variables are simultaneously determined with our dependent variable, we argue that by relying on perceptions we omit the endogeneity issue. In addition to aggregate firm-level TFP determinants, we also distinguish between the manufacturing and service sector. The aim of the research is to emphasize the structural differences between these two segments of post-transition economies.
This article analyses correlation of demand and supply shocks between the EMU and the CEECs in order to see whether there is some degree of business cycle coordination between them. The main interest is to investigate the impact on Croatia and compare it with other CEECs. Information on the correlation of demand and supply shocks between the EMU and CEECs is important if a country wants to join the monetary union, since synchronisation of business cycles and policy coordination will have a significant impact on willingness to enter the monetary union (unless the decision is a political one). We employ structural vector autoregression in order to identify demand and supply shocks and analyse their correlation, size and speed of adjustment. The results indicate that at the moment Croatia is far from ready for the common monetary policy of the EMU, while among other CEE countries Slovenia and Latvia have the closest connection between their business cycles and those of the EMU.
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This paper focuses on the relationship between exporting and the labour markets of the Western Balkan economies within a macroeconomic and microeconomic framework. Within the macroeconomic framework we investigate the Western Balkan countries’ evolution of the bilateral intra-industry trade share with European Monetary Union members and compare this with the differences in bilateral unit labour cost dynamics. The microeconomic analysis rests on enterprise-level cross section data collected during the crisis period and investigates whether exporters help to create additional jobs in the region in comparison to entrepreneurs oriented towards national market. The results show that trade patterns between Western Balkan economies and EMU trading partners did not exhibit any significant changes in trend. On the other hand, it seems that during the recession period most Western Balkan economies adjusted their unit labour costs, probably in order to boost competitiveness. Microeconomic analysis revealed that, although there are some positive differences between exporters and non-exporters, exporters do not create additional employment.
SAŽETAK Cilj je ovog rada analizirati zadružno gospodarstvo u Hrvatskoj kako bi se utvrdilo u kojoj je mjeri ono prisutno, kako posluje te ukazati na probleme koji bi aktivnijim bavljenjem tim područjem mogli biti ublaženi. Analiza je pokazala da je taj segment gospodarstva u Hrvatskoj razvijen daleko manje nego što bi to objektivno bilo moguće. Zadruge obuhvaćaju vrlo malen dio hrvatskog gospodarstva te uz to u prosjeku imaju slabije poslovne pokazatelje od ostatka gospodarstva. Međutim, budući da zadruge mogu povećati učinkovitost poslovanja članova zadruge, postoji velik neiskorišteni gospodarski potencijal, koji se sastoji od mogućnosti udruživanja pojedinih poduzetnika u zadruge. Ključne riječi: zadruge, zadružno gospodarstvo, regionalna rasprostranjenost, financijski pokazatelji. 1 Do različitih ciljeva dolazi zbog maksimiziranja vlastitog profita svakog pojedinog člana zadruge (Fulton and Giannakas, 2001.).
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