Naslov
IMPACT OF THE PUBLIC DEBT OF THE REPUBLIC OF CROATIA ON THE CROATIAN EXPORT SECTOR

Autori
Miloloža, Helena ; Šunjerga, Marina

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

Izvornik
Interdisciplinary Management Research XI / Bacher, Urban ; Barković, Dražen ; Dernoscheg, Karl – Heinz ; Lamza - Maronić, Maja ; Matić, Branko ; Pap, Norbert ; Runzheimer, Bodo - Osijek : Ekonomski fakultet Sveučilišta Josipa Jurja Strossmayera u Osijeku, 2015, 478-490

Skup
Interdisciplinary Management Research XI

Mjesto i datum
Opatija, Hrvatska, 15.05.2015. - 17.05.2015

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
public debt ; export ; competitiveness

Sažetak
Competitiveness of Croatian Export must be observed in the context of public and external debt of Republic of Croatia. Increased government spending generates public debt on domestic and foreign markets. State debt on the domestic market limits the access of the capital to the private sector, and with high amounts of debt on foreign markets state affects on the increase in the risk premium for Croatia at the national level which increases the price of money, and reduces the return on investment which significantly affects the export sector and limit the financial capacity for technological innovation. Exposure of the state to the debt in foreign currencies causes a restrictive exchange rate policy based on a fixed exchange rate. This prevents you from using exchange rate policy as a leverage that for the economy of the European Union outside the euro zone, such as Croatian, can play a key role in the battle for price competition on the EU market. Public debt is growing fast since 1999, and rapidly since the crisis began in 2009. Borrowing is financing public spending not covered by revenue budget, which serves to maintain the current economic model based on state and parastate sector from the expansion phase of the economy by 2008 which relied on large infrastructure projects financed with public money. The decline in budget revenues during the crisis was tried to be replaced with higher tax burden, which resulted in a drop of competitiveness of the private sector, and disturbances on the money markets and the high cost of government borrowing have resulted in high interest costs that, in the medium term, will amount to about 3 percent of GDP, and which will adversely affect the competitiveness of the economy.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA