engleski

Does Globalization affect Growth - A Case of Croatia

The paper tries to identify a globalisation scale in transitional countries and its impact on current and future economic growth. Using time series data for Croatian economy, the overall globalisation effects on economic growth are analysed empirically. Disaggregating the overall globalisation index in several single-effect indexes, the individual impact of economic integration, social integration and political integration on the economy growth in Croatia is described. The results will show how globalisation is influencing economic growth in Croatia &#8211 ; promoting it or constraining it. Empirical analysis will also measure the globalisation extent present in Croatia before and after 1990. The authors hope to determine the link between globalisation and economic growth in the case of Croatia ending with &#8211 ; is globalisation good for economic growth of the Croatian economy or not. Current economic policy in Croatia is counting on trade openness, absence of trade and capital restrictions, domestic corporation fusion and export expansion, and candidature for the next round of EU accession. Those are all individual dimensions of Globalisation and thus are important to know if the current economic policy embracing globalisation will lead to higher growth rates or will discourage it.

business cycles; economic growth; globalisation; transition; economic integration

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