Naslov
Financial Integration and Growth in Croatia

Autori
Šohinger, Jasminka ; Galinec, Davor

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, neobjavljeni rad, znanstveni

Skup
Economic Integration, Competition and Cooperation

Mjesto i datum
Opatija, Hrvatska, 01.04.2009. - 04.04.2009

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
financial integration; growth; international investment position; financial stability; emerging markets

Sažetak
In this paper we analyze the effects of international capital flows and institutional change on growth in Croatia. The impact of financial integration is assessed by looking at the determinants of real convergence of income per capita to that of the euro area and the institutional change is viewed as a result of the process of accession to the European Union. Our conclusions are that total factor productivity and capital accumulation played the main roles in generating economic growth in Croatia. That was an immediate consequence of the liberalization of the capital account, which was a prerequisite for starting negotiations with the European Union. Global financial crisis is affecting and will continue to affect all countries but particularly hard hit will be the economies whose growth has become dependent on foreign capital This paper also assesses the macroeconomic and financial stability challenges that Croatia and other emerging European economies are likely to face in the global financial turmoil.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
Rad je izložen na skupu i ima međunarodnu recenziju ali će biti objavljen kada se uredi zbornik sa radovima sa te konferencije.

POVEZANOST RADA