The aim of the paper is to study finance-economic growth nexus in Poland using a time series approach. We find evidence existence link Poland. Most empirical studies do not consider lending structure financial sector (share households’ vs firms total credits). obtained results show that when share households and companies credits, long run relationship VECM statistically significant larger. Empirical private credit GDP or value/volume credits tend undervalue impact development on economic...

Academic analyses and impact evaluation studies produced by the international development community almost all conclude that microfinance model has made an important net contribution to economic social recovery of post-war Bosnia Herzegovina (hereafter Bosnia). However, as we now are finding is also case in many other countries, these far-reaching claims entirely based upon often deliberately flawed methodologies inappropriate success criteria. This article provides alternative assessment...

New growth theories emerged during 1990s underlined the importance of exploring a link between disaggregated level investment and economic growth. We investigate different forms investments (equipment, structure human capital) real GDP in Republic Croatia for (pre)transition period 1960–1989 transition 1990–2011. Our results suggest that equipment have special role increasing rates is consistent with work De Long Summers Temple. Equipment investments-growth stronger than investment-growth....

Global supply shock suffered massive disruption because of COVID-19 in the last few years. Such a is accompanied by an energy price surge caused war Ukraine. We study effects shocks (common, idiosyncratic) on inflation due to issues. set up panel structural VAR (PSVAR) model whether exhibit long memory properties (persistence) having permanent (long-run) global inflation. The modelled under Cholesky and Blanchard-Quah restrictions. calculate medians, averages, interquartile impulse response...

Studies on the finance-growth link use different proxy variables for financial development. Among most used is total credit share in GDP. Previous empirical studies show to be sensitive choice of finance indicator. Total GDP appears biased modeling. Credit structure (loans firms and households) prove more robust when reveals a impact economic growth showing lending policy varies depending structure. Researchers studying must account this investigating supply leading demand-following...

This comprehensive study delves into the Harmonised Consumer Price Index (HCPI) behavior across European economies from early 2000s to post-pandemic period. By analyzing patterns of convergence and divergence in HCPI persistence, aims uncover common external country-specific factors driving these dynamics. Utilizing local Whittle estimation method, research examines long-memory properties headline inflation through monthly data January 1996 2023. The expands upon existing knowledge...

New growth theories during the 1990s stress importance of exploring a link between investments and growth. Using standard equations, we look into correlation investment in technical structure Croatia for two periods – socialist (1960–1989) transition (1990–2009). Results suggest that equipment can boost rates through total factor productivity (TFP). This is consistent with work De Long Summers (1991, 1992, 1993, 1994) Temple (1998). In appears to be stronger than both periods. We also find...

Financial and economic crises repeat themselves at indefinite intervals. As in the Great Recession (also known as Subprime Crisis) of 2007/2008 there was a bundle events processes that preceded it contributed to its emergence, whether be economic, political, or ideological. Based on observations presented this paper, explanations are suggested significantly related development various indicators. Relevant indicators include impact (e.g., GDP, key interest rates, debt ratios), capital markets...

Over the past decade, countries of European Union have faced an increase in immigration flows from less developed and politically stable countries. The movement migrants created new socio-economic challenges that affected their well-being. Thus, it is fair to ask: what influences income level migrants? aim article study influence selected determinants on probability poverty among Union. Using EU-SILC data for 2014 2018, we also explore possible changes strength poverty, depending pre-crisis...

This paper examines the persistence of energy prices in international markets and its implications for market participants policymakers. Using ARFIMA model log-periodogram regression technique, we estimate long memory parameter price indices. Our findings confirm prices, indicating that past movements have a lasting impact on future prices. For participants, understanding is crucial developing effective trading strategies risk management measures. The long-lasting effects suggest need...

In this paper authors argument that the increase in VAT for restaurant/catering services will have negative influence on tourism sector and consequently slow Croatian economy which is heavily dependent tourism. This negatively price competitiveness overall of sector. According to latest Travel Tourism Competitiveness Report 2015, Croatia has been ranked 33 rd out 141 countries (scoring 4.3 7). Looking at pillar measures how costly it travel invest country, placed 101 st place. Claiming...