1,721,136 research outputs found
Welfare policy and social transfers in Croatia
No full textThis Occasional Paper occurred as the byproduct of preparations for writing the report by Predrag Bejaković and Alastair McAuley “Welfare Policy and Social Transfers in the Republic of Croatia”, The World Bank, Europe and Central Asia Region, Poverty Reduction and Economic Management Unit, June 1998. The authors, Predrag Bejaković (Institute of Public Finance, Zagreb, Croatia) and Alastair McAuley (University of Essex, Colchester, England) first published the text in Croatian in the Institute's journal "Financijska praksa", Volume 23, Number 1, (March 1999). This Occasional Paper is the English language translation of the article published in "Financijska praksa"
Toward a long-term strategy of economic development of Croatia: Where to begin, what to do and how to do it?
No full textThis paper attempts to elaborate the main principles of an economic development strategy suitable for Croatia over the next 10–15 years. Based on brief analyses of advances made in development theory and policy and experiences of the emerging market economies in Asia, Latin America, and Central Europe, the paper identifies critical factors necessary for launching an accelerated process of economic development. These factors are: leadership commitment to economic development; the level and quality of social and human capital; application of modern (especially information) technology; stable and consistent macroeconomic policies; and efficient market-based institutions. The paper then analyses Croatia’s strengths and weaknesses in terms of these factors in comparison with a select group of economies: Slovenia, Hungary, the Czech Republic, Portugal, Ireland, Chile, Uruguay, Hong Kong and Singapore. In addition, the paper analyses implications of “new economy” developments in the United States and other advanced industrial countries for a small open economy like Croatia. Against this background, the paper proposes seven basic principles for elaborating a long-term strategy of Croatia’s economic development: (i) Setting a clear development goal—the paper proposes a doubling of real per capita GDP to US$10,000 in the next 10–15 years, which would require an average annual growth rate of about 5½%, and that this growth rate is achievable; (ii) Ensuring transparency and equal access to development opportunities, as opposed to following specific industrial policy; (iii) Adjusting to globalisation of economic activity and absorbing “new economy” developments; (iv) Implementing fundamental reform of labour markets, with a view to reducing the high non-wage labour costs through pension and health care reforms; (v) Actively promoting financial market development by accelerating corporate and bank restructuring, and legal and judicial system reforms; (vi) Deciding on the economic role of the state in such areas as education, legal and judicial systems, market regulation, infrastructure, and science and technology; and (vii) Maintaining stable and consistent macroeconomic policies to facilitate structural reforms. The paper briefly discusses the main benefits and costs of a possible “euroisation” of Croatia’s economy, and arrangements for a possible transition from the current monetary and exchange rate regime, characterised by a high degree of factor and commodity price indexation to the Deutsche mark, toward a more flexible interim regime that would facilitate the eventual adoption of the euro and be consistent with the overall development strategy outlined
Toward a Long-Term Strategy of Economic Development of Croatia: Where to Begin, What to Do, and How to Do It?
Get PDFThis paper attempts to elaborate the main principles of an economic development strategy suitable for Croatia over the next 10–15 years. Based on brief analyses of advances made in development theory and policy and experiences of the emerging market economies in Asia, Latin America, and Central Europe, the paper identifies critical factors necessary for launching an accelerated process of economic development. These factors are: leadership commitment to economic development; the level and quality of social and human capital; application of modern (especially information) technology; stable and consistent macroeconomic policies; and efficient market-based institutions. The paper then analyses Croatia’s strengths and weaknesses in terms of these factors in comparison with a select group of economies: Slovenia, Hungary, the Czech Republic, Portugal, Ireland, Chile, Uruguay, Hong Kong and Singapore. In addition, the paper analyses implications of “new economy” developments in the United States and other advanced industrial countries for a small open economy like Croatia. Against this background, the paper proposes seven basic principles for elaborating a long-term strategy of Croatia’s economic development: (i) Setting a clear development goal—the paper proposes a doubling of real per capita GDP to US$10,000 in the next 10–15 years, which would require an average annual growth rate of about 5.5%, and that this growth rate is achievable; (ii) Ensuring transparency and equal access to development opportunities, as opposed to following specific industrial policy; (iii) Adjusting to globalisation of economic activity and absorbing “new economy” developments; (iv) Implementing fundamental reform of labour markets, with a view to reducing the high non-wage labour costs through pension and health care reforms; (v) Actively promoting financial market development by accelerating corporate and bank restructuring, and legal and judicial system reforms; (vi) Deciding on the economic role of the state in such areas as education, legal and judicial systems, market regulation, infrastructure, and science and technology; and (vii) Maintaining stable and consistent macroeconomic policies to facilitate structural reforms. The paper briefly discusses the main benefits and costs of a possible “euroisation” of Croatia’s economy, and arrangements for a possible transition from the current monetary and exchange rate regime, characterised by a high degree of factor and commodity price indexation to the Deutsche mark, toward a more flexible interim regime that would facilitate the eventual adoption of the euro and be consistent with the overall development strategy outlined.economic development, economic growth, new economic paradigm, globalisation, information technology, emerging market economies, transition economies, macroeconomic policies, industrial policy, corporate and bank restructuring, labour market reform, financial market development, exchange rate policy, eurisation.
Black (Hidden) Economy in Rural Areas and Agriculture
Get PDFIn economic literature black (hidden, informal) economy encompasses production that is
formally legal, but a particular, one or more members of the production chain try to conceal
it from public authorities in order to avoid taxes and similar charges; then, a production
of illegal goods and services, and various kinds of concealed income. The first component,
unreported legal economy usually has the largest share in hidden economy and is
more often examined in scientific researches. Informal economy is present in all societies
irrespective of their dominant social and political system. Nevertheless, there are considerable
differences in the scope and form that informal economy may assume in each society.
This paper estimates the size and the role of the black economy in planned societies, in
former Yugoslavia and Croatia, in developed industrial countries and in developing countries
with special accent on informal economy in rural areas and agriculture. The author s
analysis of the results of accomplished and published researches evidenced and gave interpretation
of apparently surprising finding: among the wage earners in agriculture there is
proportionally the largest participation pf those working on “cash-in-hand” basis. Given the
fact that these are a part time season jobs, the number of unregistered workers amounts to
one third. Particularly attentively the author displayed the results of more important
researches in black economy in Croatia thus enabling the readers to evaluate theoretical
foundation and applied methodology in critical manner. In this part of the work a method
of evaluation the newly created/made values in the informal part of Croatian agriculture
belonging to peasant’s households is emphasized.
The author also writes about the possible future of black economy, and considering the
future tendencies in post-socialist countries, i.e. countries in transition, he points at decisive
obstacles to such endavours. The paper ends with analysis of economic, social and
political role of informal (black) economy and of the economic policy efficiency and range in its regulation
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