Naslov
Determinants of merchandise trade balance in a small open economy: example of Croatia

Autori
Bilas, Vlatka ; Franc, Sanja ; Bošnjak, Mile

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

Izvornik
Proceedings, An Enterprise Odyssey: Leadership, Innovation and Development for Responsible Economy / Galetić, Lovorka ; Spremić, Mario ; Šimurina, Jurica - Zagreb : Sveučilišna tiskara, 2014, 42-55

ISBN
978-953-6025-92-3

Skup
An Enterprise Odyssey: Leadership, Innovation and Development for Responsible Economy

Mjesto i datum
Zadar, Hrvatska, 04.06.2014. - 07.06.2014

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
robna razmjena; odrednice; pametna specijalizacija; Hrvatska
(merchandise trade; determinants; smart specialization; Croatia)

Sažetak
Determinants of merchandise trade balance should be viewed in the context of contemporary trends in global and regional trade patterns that include liberalization of trade, vertical specialization, smart specialization and income convergence. In this paper different effects on the balance of merchandise trade in Croatia are analyzed by using modern theoretical concepts and trends in international exchange. The results have shown no cross elasticity between merchandise exports and merchandise imports meaning no empirical evidence for vertical specialization and participation of Republic of Croatia in a global production chain. This is important conclusion in the light of smart specialization strategies which represent the base for the European regional policy within the Europe 2020 strategy. The results further reveal that change in Croatian merchandise exports depends exclusively upon the change in the EU income level. On the other hand, the change in merchandise imports in Croatia is determined by the income change in Croatia as well as the level of foreign direct investment in the past year.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA