Investigating Industry Dynamics in a Recessionary Transition Economy

Abstract

The paper investigates the statistical regularities of industry dynamics in a transition economy and its manufacturing industry over a six-year period of recession. The static analysis of distributions supports several established stylized facts on firm size and growth-rate distributions. The growth rate distribution featured a sequential, year-by-year procyclical change of the left side of distribution, suggesting that the more years an economy spends in a recession, the greater the decline in the revenue of its firms. On the “growing” side, the recession opened increasing growth opportunities for a small subset of small firms, while it diminished growth opportunities for medium and large firms. The segregation of sectors by technological intensity gives evidence that the high-tech sectors show upward trend of the growth rate distributions’ right side of as the recession unfolded. Sectorial concentration ratios mostly increased, while changes in the unimodality of the firm-size distribution occurred at the end of the economic downturn

Do small public grants boost tourism firms’ performance?

“…Tourism is one of the most important sectors of the Croatian economy. After the Great Recession, firms in manufacturing sectors declined (Vitezic ´et al, 2018) while tourism flourished. In 2016, according to the Croatian Bureau of Statistics Tourism Satellite Account, tourism's economic output was 11.4% of the Croatian GDP, while the total contribution of tourism to the Croatian economy for the same year reached 16.9%.…”

Management Of Territorial Economy Based On Strategic Indicators And Regional Development Model

“…The use of indicators that show implementation of the regional development strategy makes it possible to consider all the main factors of economic and social development of the region and to avoid mistakes in management decisions. Among classifications of indicators of socio-economic development considered in the study (Anisimov & Sirotkina, 2008;Akhunov, 2015;Bondarenko, 2011;Klimova & Kirillova, 2009;Komkova & Pleshanov, 2012;Lebedinskaya, Timofeev, Abyzova & Berger, 2018;Matskevich, 2004 ;Martin & Rogers, 1997;Novikova & Krasnikov, 2010;Pogodin, 2005;Tantau, Maassen & Fratila, 2018;Vitezić, Srhoj & Perić, 2018), macroeconomic indicators used in the management of socio-economic development at the regional level are most common. Based on the principles and criteria, strategic indicators of the regional development should include: the growth rate of GRP, the unemployment rate, the inflation rate and the volume of net exports (including net exports in the volume of GRP).…”

The impact of managerial and firm characteristics on barriers in export businesses

“…Furthermore, the existing studies related to demographics characteristics focused more on firm characteristics rather than managerial characteristics. In addition, the studies are oriented towards export performance (Gashi et al, 2014;Cieslik et al, 2015;Aralica et al, 2018;Recica et al, 2019;Vitezic et al, 2018). Therefore, the relationship between demographic factors and export barriers is limited and signifies there is a gap for more research to be done in this area.…”