Numerous papers have examined the relationship between remittances from migrants and the contribution this has towards development. Considering the importance and actuality of the topic, we decided ...to make an overview of selected achievements in the research of remittance impact on economic growth. Due to the fact that a high ratio of remittances remains officially unrecorded, the officially-reported figures accounting for roughly 35-75 percent of the total volume of remittance flows, it is possible only to predict the importance of remittances on economic growth, nevertheless, these predictions are based on relevant scientific research and methods. Overall, the existing literature provides inconsistent accounts as to how remittance inflows specifically influence economic growth. A significant number of articles suggest that through unintended consequences such as the Dutch Disease, remittance inflows may actually hamper economic growth. On the other hand, a number of authors suggests that remittance inflows do contribute to economic activity by alleviating poverty and enabling investment activities to take place.
There is a significant volume of research studying the impact of foreign capital flows on unemployment. The investigated variables in this paper include remittance inflows, FDI, as well as tourism ...spending, while additional variables that may have an impact on the unemployment rate have also been included to minimiže the risk of omitted variable bias. The paper investigates the impact of foreign capital inflows on three different types of unemployment: youth unemployment, unemployment of those without college degrees, and unemployment of those with degrees. The paper implements an OLS regression to analyse the impact of these variables in Croatia and the Czech Republic between 1997 and 2020. The paper concludes that remittance inflows have the most prominent role in decreasing the unemployment rate in Croatia. It further concludes that domestic factors and the growth of the aggregate economy, rather than foreign capital factors, are key determinants of the unemployment rate in the Czech Republic. The paper highlights the lacking contribution of educational spending on minimizing the unemployment rate and proposes that educational spending needs to reconsider the real-world demands of the labour market.
Seventy years ago, the European Union was created with the aim of economic and political unification of European countries, and by the decision of the European Council at the end of the 1980s, the ...idea of a European monetary union was conceived, which would later result in the creation of the Euro currency and the Euro area, which was aimed at strengthening monetary policy. This paper will study the creation and analysis of the European monetary union, the development of the Euro area and the third phase of the creation of the European monetary union-the introduction and sustainability of the Euro as a European currency unit. The paper studies the concepts of the European Monetary Union and analyze the organization of monetary policy, and the concepts of the Eurozone, the creation of the Eurozone, the importance of the European Central Bank and its influence on the sustainable stability of the Eurozone and the currency. The paper also analyses economic policy and the emergence of an optimum currency area, where the analysis will focus on Mundell's theory and the long-term sustainability of the value of the Euro.
After a period of several years of slower market price growth than the long-term average, price inflation accelerated again in 2021 and, accordingly, the mentioned topic became the main focus of the ...public and the media. The war in Ukraine raised the prices of energy products on the world market, and since the countries of the EU mainly rely on oil and gas, the growth of these has spilled over into the European market. The main goal of the research is to analyže the impact of inflation during 2021 and 2022 on the standard of living of the citizens of Croatia. The research aims to explain the willingness of the citižens of Croatia to pay higher energy prices in order to sanction Russia. The research was conducted through a questionnaire in which a total of 247 respondents participated. The hypotheses of the work were confirmed and/or refuted after processing the data through the calculation of the Cronbach Alpha coefficient, the implementation of the T-test and the analysis of descriptive statistics. The last part of the paper refers to making a general conclusion based on the research results.
In 2001, the world began talking about the BRIC countries - Brazil, Russia, India and China - as potential powerhouses of the world economy. These countries have formalized their cooperation, and ...later, with the joining of South Africa, became the BRICS. They are often perceived as proponents of multipolar world, choosing multipolarity over unipolarity, and supporting political institutions and organizations, at the same time creating alternative financial institutions to the hegemonic ones (the IMF and the World Bank), still dominated by the developed economies of the Western countries. So, what about a different group of countries, called the MINT countries or simply the MINTs that are emerging, growing economies, are heterogeneous as BRICS, but not nearly as large and powerful, and are located on four different continents, with no formal cooperation between themselves such as the BRICS? This article analyses the basic economic trends in the MINT countries by analyzing the linear relationship between GDP as the dependent variable and household consumption, foreign direct investment and government consumption as the independent variables. The general model is as follows: Δ log GDP^sub t^ = α^sub 0^ + α^sub 1^ Δ log FDI^sub t^ + α^sub 2^ Δ log PC^sub t^ + α^sub 3^ Δ log GC^sub t^ + ε^sub t^. The analysis was conducted using ordinary least squared (OLS) regression. By conducting this analysis, it is possible to conclude that the MINT countries have significant differences in regards to the statistical relevance of the chosen independent variables. One of the rare common traits of these four economies is that FDI does not seem to have a statistically significant impact on their development. This article concludes that the MINT countries may have a significant role in international relations as regional powers, but they do not have the economic or political traits necessary to challenge the BRICS countries significantly.
This paper analyses the case of the youth unemployment rate in the Republic of Croatia. The paper does so by using an empirical framework that is largely based on conducting a survey of 200 ...individuals aged up to 30 years of age who are preparing to enter or have entered the Croatian labour force. Through the following survey and by conducting a literature review of the existing research, this paper aims to consider relevant factors that have impacted the lack of satisfaction that has led to several negative phenomena on the labour market. These phenomena include brain-drain, a small participation rate that threatens the long-term sustainability of the Croatian pension system, and no incentives for employees for meeting specific goals. Based on the results of the conducted survey and performed literature review, this paper recommends that employers ensure more specific measurable goals for employees, solicit feedback from employees, provide incentives for specific work-related education and implement other measures that may help employees be incorporated in conducting relevant business processes.
The aim of this paper is to assess, through empirical analysis, the historical significance of the public debt to the economic growth of the USA. In order to understand the relationship we examine ...the historical data from 1850 - 2010, as well as the quarterly data from the period 1966 - 2016. We used Johansen and Engle-Granger Co-integration tests, as well as Granger causality tests and Autoregressive Distributed Lag (ARDL) analysis. The empirical evidence of a statistically significant negative long-term relationship between public debt and GDP was not found. It is concluded that there is a uni-variate relationship GDP towards the public debt, which is caused by the constant rise in public debt.
Small states make up the vast majority of the international system. However, their absolute power and relative "weight" in that same international system are reversely proportional to their number. A ...sheer number of small states therefore tells us little about their specific characteristics and the means to pursue their own survival and progress. Nevertheless, the scientists have for decades not been able to agree on the number of small states in the world, so most of them have simply decided to omit this problem from their research, focusing mainly on strategies and specificities of small states, that either derive from their smallness or not. Most classifications usually agree that the number of small states in the world is between a half and two-thirds of all states. The purpose of this paper lies in an attempt to re-initiate a debate among the scholars in order to try to answer the "eternal" question of how many small states actually exist in the world, and what criteria should be primarily used to define i.e. classify them.
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