Naslov
Spillover effects between monetization, financial development and public debt in relation with unemployment in Croatia

Autori
Samodol, Ante ; Brlečić Valčić, Sonja

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

Izvornik
Economic and Social Development (Book of Proceedings), 28th International Scientific Conference on Economic and Social Development / Omazic, Mislav Ante ; Roska, Vlasta ; Grobelna, Aleksandra - Online : Varazdin Development and Entrepreneurship Agency, Varazdin, Croatia ; Faculty of Management University of Warsaw, Warsaw, Poland ; University North, Koprivnica, Croatia, 2018, 163-172

Skup
28th International Scientific Conference on Economic and Social Development

Mjesto i datum
Pariz, Francuska, 19.04.2018. - 20.04.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Financial Development, GDP, Monetization, Public Debt, Unemployment

Sažetak
The impact of monetization of economy as well as of financial development and the stability of the financial sector on economic growth have been subject of numerous studies. Most of the contemporary research carried out on this topic has shown the existence of strong nonlinear relationships between the mentioned factors. Using empirical data this study aims to analyse the impact of monetary and fiscal policy, as the two key leverages of economic policy, on unemployment. As in previous studies, based on statistical methods, but also by the use of self-organizing neural networks, the correlation and non-linearity of these relations has been proven. Research findings suggest that the annual growth rate of money supply is in positive correlation with the unemployment rate, while the indicators of the development of the financial sector and the annual growth rate of credit to the private sector are negatively correlated with the unemployment rate in the Republic of Croatia. The share of general government debt in GDP is positively correlated with unemployment, but the annual growth rate of general government debt is negatively correlated with unemployment. It is also possible to notice the spillover effects between M1 variables on Gross debt and M1 / GDP on Loans / GDP and Loans / GDP on Gross debt / GDP. The paper presents conclusions on the correlation and spillover effects between observed independent variables and proposes a methodology for modelling the nonlinearity of such relations.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA