The relevance of tourism revenue to their respected GDP is comparable in Croatia and the Czech Republic. Aside from having comparable levels of tourism dependency in respect to the percentage of ...tourism revenue in GDP, there are very few significant structural similarities between the economies of Croatia and that of the Czech Republic. The simple geographic difference of a land-locked versus a maritime economy does not seem to be the most dominant feature in differentiating these two economies. Rather, through Impulse Response Functions (IRFs) and variance decompositions, this paper examines the relationship between the economic growth, public debt-to-GDP ratio, tourism revenue and the unemployment rate by implementing a Vector Autoregressive (VAR) framework. Through this framework, this paper detects structural differences between the economies of Croatia and the Czech Republic. Most notably, this paper concludes that tourism revenue is unable to combat the difficulties presented by macroeconomic imbalances in Croatia. It further concludes that Croatia should strive towards a more diversified economy and attempt to contain the difficulties it faces regarding its public debt and budget deficit.
The relevance of tourism revenue to their respected GDP is comparable in Croatia and the Czech Republic. Aside from having comparable levels of tourism dependency in respect to the percentage of ...tourism revenue in GDP, there are very few significant structural similarities between the economies of Croatia and that of the Czech Republic. The simple geographic difference of a land-locked versus a maritime economy does not seem to be the most dominant feature in differentiating these two economies. Rather, through Impulse Response Functions (IRFs) and variance decompositions, this paper examines the relationship between the economic growth, public debt-to-GDP ratio, tourism revenue and the unemployment rate by implementing a Vector Autoregressive (VAR) framework. Through this framework, this paper detects structural differences between the economies of Croatia and the Czech Republic. Most notably, this paper concludes that tourism revenue is unable to combat the difficulties presented by macroeconomic imbalances in Croatia. It further concludes that Croatia should strive towards a more diversified economy and attempt to contain the difficulties it faces regarding its public debt and budget deficit.
Migration of higher-educated individuals from Croatia is damaging the long-term perspective of the Croatian economy as lower levels of the participation rate in the Croatian economy may endanger the ...feasibility of the social, healthcare and pension systems. With Croatia’s accession to the EU, a wave of migration was facilitated as a result of easier access to foreign labour markets. The paper focuses on the causes of migration from Croatia given the relatively limited research devoted to this topic. While there is robust evidence of corruption being one of the main causes of migration globally, this paper questions this assertion specifically in the case of Croatia. The paper analyses information from a survey with a random sampling approach of 223 respondents from the Varaždin County. The data is analysed by implementing different logit regression models. The paper conceptualizes economic and political factors that may cause migration as different variables in order to conduct a robustness check. The main finding of the paper is that monetary causes and a belief that individuals could earn more income abroad are the primary motivator of migration from Croatia. This is contrary to much of the existing literature that identifies corruption as the driving force of migration. Knowing individuals who have migrated abroad also makes it more likely for an individual to migrate from Croatia. While the paper found a significant degree of lacking faith in public institutions, this was common to participants regardless of whether or not they considered migrating from Croatia. As such, the paper considers monetary conditions rather than corruption to be the key driving force behind migration from Croatia.
The study of human capital relevance to economic growth is becoming increasingly important taking into account its relevance in many of the Sustainable Development Goals proposed by the UN. This ...paper conducted a panel regression analysis of selected SE European countries and Scandinavian countries using the Granger causality test and pooled panel regression. In order to test the relevance of human capital on economic growth, several human capital proxy variables were identified. Aside from the human capital proxy variables, other explanatory variables were selected using stepwise regression while the dependant variable was GDP. This paper concludes that there are significant structural differences in the economies of the two observed panels. Of the human capital proxy variables observed, for the panel of SE European countries only life expectancy was statistically significant and it had a negative impact on economic growth, while in the panel of Scandinavian countries total public expenditure on education had a statistically significant positive effect on economic growth. Based upon these results and existing studies, this paper concludes that human capital has a far more significant impact on economic growth in more developed economies.
The paper studies the impact of political turbulence in the United Kingdom in 2016 and 2017 on selected relevant stock indexes. The empirical analysis consists of unit breakpoint tests. The potential ...points of structural break are determined based on an overview of occurrences of political instability from the Brexit referendum to the snap Parliamentary election of 2017. The paper concludes that the outcome of the referendum on Brexit caused a structural break that was visible in every stock index studied. On the other hand, the paper fails to find any evidence of a structural break caused by subsequent events, namely the decision to call the snap election or the outcome of the election itself. This implies that investors have accepted the UK decision to leave the EU and there was no further destabilization of the stock markets. It can be further concluded that the United Kingdom and the European Union need to address a deep political divide and find a way to coexist and mutually benefit in the period of negotiations and after the Brexit takes place
Rezultati predsedniških volitev v ZDA leta 2016 so pokazali netočnost volilnih anket in nepričakovano zmago Donalda Trumpa v Michiganu, na Floridi in v Pensilvaniji, kar je republikanskemu kandidatu ...omogočilo zmago na volitvah. S pomočjo regresijskega modela metode najmanjših kvadratov (OLS) smo oblikovali napovedne modele za štiri nepredvidljive, a ključne države (»battleground states«) in ocenili točnost napovedi teh modelov. Na temelju modela, ki sta ga predlagala Lewis-Beck in Tien, smo uporabili sekundarne modele, ki upoštevajo makroekonomske spremenljivke. Čeprav nam večina teh modelov ne omogoča pridobitve točnih rezultatov, so modeli, ki upoštevajo makroekonomske spremenljivke, pravilno napovedali rezultate za Pensilvanijo in Ohio.
The paper studies the impact of political turbulence in the United Kingdom in 2016 and 2017 on selected relevant stock indexes. The empirical analysis consists of unit breakpoint tests. The potential ...points of structural break are determined based on an overview of occurrences of political instability from the Brexit referendum to the snap Parliamentary election of 2017. The paper concludes that the outcome of the referendum on Brexit caused a structural break that was visible in every stock index studied. On the other hand, the paper fails to find any evidence of a structural break caused by subsequent events, namely the decision to call the snap election or the outcome of the election itself. This implies that investors have accepted the UK decision to leave the EU and there was no further destabilization of the stock markets. It can be further concluded that the United Kingdom and the European Union need to address a deep political divide and find a way to coexist and mutually benefit in the period of negotiations and after the Brexit takes place.
This paper analyses the short-term economic, as well as the long-term political consequences of Brexit. In order to analyse the short-term economic impact, we implement Chow's test for a structural ...break on the main stock exchange indexes. Another significant part of this paper is an analysis of the factors that have an impact on the exports of the United Kingdom and whether the potential decrease of the exchange rate will be more relevant than the anticipated decrease of FDI and GDP. This paper concludes that there is significant evidence that there was a negative short-term economic impact caused by Brexit, as well that it might have a detrimental impact on the long-term exports of the United Kingdom. This paper further concludes that Brexit was a unnecessary and avoidable event that might not have happened had there been an accountable political class that fairly and objectively presented the potential consequences of Brexit.
In Zagreb, from 8th to 11th October 2013 held a three-day international conference 'South East Europe and the future of the EU - cooperation between institutions of higher education' organized by ...students 'Diplomat' High school of international relations and diplomacy, 'Dag Hammarskjald' from Zagreb (VSMOD DH) and the World Academy of Arts and sciences. Adapted from the source document.
Economic sanctions in international law Ilieva, Jana; Dashtevski, Aleksandar; Kokotovic, Filip
UTMS journal of economics,
12/2018, Volume:
9, Issue:
2
Journal Article
Peer reviewed
Open access
Economic sanctions are a very important topic in the present international relations but also very common headlines in the daily news. At the present time, they become an increasingly prevalent ...measure for disciplining states' unacceptable behaviour by a ban on trade and disruption of financial relations for political purposes. Economic sanctions can be imposed by an international organization, being there multilateral (UN) or regional (such as EU) but also can appear in form of unilateral (autonomous) act of a state. The latter is broadly criticized as being contrary to international law hence these unilateral sanctions face lack of support by the international lawyers. On the other hand, there exists no universally accepted mechanism (authoritative international body) in international law to determine if one economic sanction is lawful or not thus this issue remains one of the least developed area therein. Economic sanctions 'effectiveness is another opened question that requires prompt reaction. Therefore, the existing relationship between economic sanction and international law is controversial and opens perspectives for different approaches and tensions in the international arena.
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