Macroeconomic model of institutional reforms’ influence on economic growth of the new EU members and the Republic of Croatia

Buterin, Vesna; Škare, Marinko; Buterin, Denis

doi:10.1080/1331677x.2017.1355260

Cited by 36 publications

(30 citation statements)

References 25 publications

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“…Institutonal reform in new EU member states had a large impact on the manufacturing sector and also on the national output. Buterin et al (2017) show that the institutional reform had a strong impact on the transitional economies output during 1996-2012. Thus, institutional framework is important for the the manufacturing sector in the transitional economies by chanelling FDI and domestic investments in manufacturing sector increasing firms' and national output.…”

Section: Theoretical Backgroundmentioning

confidence: 96%

The Impact of the Manufacturing Industry on the Economic Cycle of European Union Countries

Behún¹,

Geotechnologies²,

Gavurová³

et al. 2018

JOC

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The manufacturing industry is a key sector in many national economies and is involved in creating sustainable economic growth. At the same time, it is a sector sensitive to internal and external impacts that result in fluctuations in the economic cycle, copying its development or even outstripping the development of economic cycles. The main objective of this contribution was to identify the relationship between manufacturing and GDP, which represents the economic cycle in European Union countries. The time series of selected indicators of the manufacturing industry and GDP from the Eurostat database for Q1 2000-Q4 2016 were used for analysis purposes. An analysis of 296 time series with a quarterly periodicity from 22 EU countries (including the United Kingdom) was performed. The results of analyses indicate that the processing industry is a sector with significant cyclical behavior. In most countries, production and sales in the manufacturing industry behaved as concurrent indicators, changes in production and sales almost immediately reflected in the growth or decline in GDP. Labor market indicators have been shown to be delayed cyclical indicators. Changes in the economic development of the countries have a strong impact on employment, the remuneration of employees and the number of hours worked in the sector. Strong cyclical industries must be constantly monitored, as negative changes in these sectors will automatically exacerbate the economic cycle recession. The results of our analyses represent a valuable platform for economic policy makers and regional strategic plans.

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Section: Theoretical Backgroundmentioning

confidence: 96%

The Impact of the Manufacturing Industry on the Economic Cycle of European Union Countries

Behún¹,

Geotechnologies²,

Gavurová³

et al. 2018

JOC

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show abstract

“…Here, we will concentrate on the economies in the region, introducing Serbia and Croatia. The results show that there is a significant positive impact of institutional reforms on the economic growth of transition countries and Croatia, which creates preconditions that are essential for the future growth rate of the Croatian economy (Buterin et al, 2017). In Table 2, it can be seen that Slovenia was rather closed to international capital flows in comparison to other countries.…”

Section: Economic Developments and Transitional Characteristics Of Eumentioning

confidence: 95%

Foreign direct investments’ openness in local communities – the case of Slovenia and Serbia

Maček

Ovin

Divjak

et al. 2020

Economic Research-Ekonomska Istraživanja

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Inward foreign direct investments are usually cited as an essential tool for economic growth and are often listed as one of the priorities by national governments, especially in transition countries strive. When local communities are concerned, the economic effects of international capital flows in principle should not differ from the national economy. Despite the threats they can also pose, they should mostly represent the opportunity for technological improvements and raising the competitiveness of the economy. When inward foreign direct investments are more or less limited to a local community, its leadership is in a position to follow them carefully. In this case, they are usually also well informed on sentiments of the population regarding these investments. These processes may add to the governments' responsibility when planning the investments but often also add to the transparency of other stakeholders, which could help the governments to manage foreign direct investments in the local community. To offer a novelty with research in the field, the authors added this perspective to existing studies, predominantly analysing foreign direct investment effects in the national economy. The paper brings a comparative analysis of sentiments in local communities in Slovenia and Serbia. Statistical analysis based on opinion polls, although not free of statistical risks, enabled expected conclusions but also opened new insights.

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“…The standard deviation indicates considerable heterogeneity. However, in the context of the analysis of temporal dimensions, the existence of such a variation is a good prerequisite for econometric analysis, as evaluating the impact of the independent variables (Buterin et al, 2017).…”

Section: Datamentioning

confidence: 99%

Inequality, social capital, and varieties of capitalism in Latin America

Bolaños

Acosta

Canal

2020

Economic Research-Ekonomska Istraživanja

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This paper aims to research whether the varieties of capitalism impact the relationship between social capital and inequality in developed economies (coordinated and liberal economies) and Latin America (hierarchical economies) in the period from 2000 to 2016. To do that, the study uses a panel analysis of developed economies and Latin America, that is, a fixed effect panel static analysis. The model includes one dependent variable (Gini index) and ten independent variables (generalised trust, informal economy, years of schooling, union density, market capitalization, annual gross domestic product, gross domestic product per capita, health expenditure, feminine labour force, and gross capital). The findings show that the relationship between inequality and social capital is negative and significant and that hierarchical economies (Latin America) amplified such a relationship.

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Macroeconomic model of institutional reforms’ influence on economic growth of the new EU members and the Republic of Croatia

Cited by 36 publications

References 25 publications

The Impact of the Manufacturing Industry on the Economic Cycle of European Union Countries

The Impact of the Manufacturing Industry on the Economic Cycle of European Union Countries

Foreign direct investments’ openness in local communities – the case of Slovenia and Serbia

Inequality, social capital, and varieties of capitalism in Latin America

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