Naslov
THE IMPACT OF MACROECONOMIC FACTORS ON EXPORT DYNAMICS IN WOOD PROCESSING

Autori
Basarac, Martina

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

Izvornik
Wood is good - with knowledge and technology to a competitive forestry and wood technology sector / Grbac, Ivica - Zagreb : Fakultet strojarstva i brodogradnje Sveučilišta u Zagrebu, 2012, 1-9

ISBN
978-953-292-026-0

Skup
Wood is good - with knowledge and technology to a competitive forestry and wood technology sector

Mjesto i datum
Zagreb, Hrvatska, 12.10.2012

Vrsta sudjelovanja
Demonstracija

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
export dynamics ; wood processing ; vector error correction model ; competitiveness

Sažetak
The main objective of this thesis was to contribute to the analysis of the potential factors of the Croatian wood sector’s export dynamics. The analysis of the macroeconomic indicators that influence the export dynamics is of special interest and was examined in numerous public debates. Therefore, a sophisticated econometric approach was required, so export determinants were modified by applying the VAR methodology. Moreover, in this paper we examined the long–term and short- term impact of foreign direct investment, gross investment and the real effective exchange rate on the wood processing sector’s export and the future development of this important manufacturing sector. The results of the empirical analysis of the conditional vector error correction model confirm the existence of a cointegrated equation that forms a longterm connection between the said variables. This long- term connection is statistically significant ; it indicates that the error correction term is statistically significant and of adequate algebraic sign, pointing to a 69 percent quarterly imbalance correction. The other variables of the conditional model, in the short-term, are not statistically significant. This empirical investigation leads to the conclusion that there exists an export competitiveness problem in Croatia's wood sector, that isn't solvable in the short-term and requires significant investment, but whose return is doubtless.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA