Naslov
Analysis of personal consumption in Croatia
(Analysis of Personal Consumption in Croatia)

Autori
Lolić Čipčić, Marina

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 4th International Conference Contemporary Issues in Economy & Technology, CIET 2020 / Kovačević, Tonko ; Akrap, Ivan - Split : Sveučilište u Splitu ; Sveučilišni odjel za stručne studije Sveučilišta u Splitu, 2020, 118-129

ISBN
978-953-7220-52-5

Skup
4th Contemporary Issues In Economy & Technology (CIET 2020)

Mjesto i datum
Split, Hrvatska, 29.05.2020

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
personal consumption, household personal consumption by purpose, Croatia, CEE

Sažetak
Personal consumption is the most important component of aggregate demand, accounting for over half of its value. Through its influence on investment, savings and (un)employment, personal consumption has important multiplicative effects on GDP. The paper analyses historical movement as well as the structure of personal consumption in Croatia in comparison to other CEE countries as well as EU28 during the last two decades, including most recent 2008 crisis. Results indicate a tight relationship between GDP and personal consumption movement, explaining a decline in personal consumption during economic crisis. Households and NPISHs final consumption expenditure, as % of GDP, declined during crisis and, as a result, in 2018 per capita personal consumption still did not reach the 2008 pre-crisis value. Per capita personal consumption values in Croatia are comparable to its CEE counterparts, namely Poland, Hungary and Slovakia who also have comparable per capita GDP values. However, it should be noted that personal consumption in Croatia, as in other CEE countries, is mainly driven by bank loans and, simultaneously, aimed at imported goods. This type of personal consumption is not sustainable in the long run. Policy implications would indicate stimulating permanent income, as oppose to current, by stabilising GDP growth and employment possibilities.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA