Naslov
Impact of EU Business and Consumer Survey indicators on the Croatia's Economy

Autori
Čižmešija, Mirjana ; Erjavec, Nataša ; Bahovec, Vlasta

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
The 8th Intrnational Conference of the Japan Economic Policy Association JEPA 2009. Preceedings of Abstracts and Program, Main Theme: „The Financial Crisis and Economic Depression: Tasks of Economic Policies in Simultaneous Slowdown of the World Economy“ / - Tokyo, 2009, 33-33

Skup
The 8th Intrnational Conference of the Japan Economic Policy Association JEPA 2009.

Mjesto i datum
Tokyo, Japan, 28.12.2009. - 29.12.2009

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Nije recenziran

Ključne riječi
Business and Consumer Survey; Composite Indicators; Time series analysis

Sažetak
Business and consumer survey (BCS) is a method of gathering information about the businessmen’s and consumers´ perception of their environment. The European Commission (Directorate General for Economic and Financial Affairs, DGECFIN) conducted Business Surveys in accordance with the Joint Harmonised EU Programme of BCS for different sectors of national economies (27 countries) in 1962 for the first time. The included sectors in business survey are: manufacturing industry, building, retail trade, services and financial sector. Businessmen’s perceptions of their economic environment are translated into quantitative expressed indicators, namely Industrial Confidence Indicator (ICI), Construction Confidence Indicator (BCI), Retail Trade Confidence Indicator (RTCI), Consumer Confidence Indicator (CCI) and Services Confidence Indicator (SCI). The Economic Sentiment Indicator (ESI) is a composite indicator, deriving from Business and Consumer Surveys and it includes all variable components of composite indicators which are mentioned above. Survey results are intended for short-term economic analysis, and allow comparison among different countries’ business cycles. Results are appropriate for monitoring the evolution of the EU and the euro area economies, as well as monitoring developments in the applicant countries like Croatia. They are important because business survey results of economic variables are available before the same or the similar data from the official statistics is published. The aim of this paper is to investigate the relationship between EU business and consumer survey composite indicators and Croatia’s economy approximated by Croatian industrial production. Using the monthly series from January 1997 to May 2009 and defining verious econometic models, we try to find out if European confidence indicators have an impact on Croatia’s economy. Furthermore, we analyse to which extend the recession in Europe (through its impact on EU indicators) affects the economy in Croatia.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA