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Vino je oduvijek okupljalo ljude, uz vino se ljudi druže, o vinu se uvijek može razgovarati, vino u ljudima pobuđuje razne emocije. Tako je i ova knjiga nastala kao rezultat dugogodišnje suradnje kolega znanstvenika, a započela je jednim doktoratom. Tijekom tog su doktorskog istraživanja doktorandica, njezine mentorice, članovi povjerenstva i drugi kolege počeli o vinu i vinskom sektoru neobavezno razgovarati u raznim formalnim i neformalnim prigodama. Vinske su rasprave najprije dovele do nekoliko zajedno napisanih i objavljenih znanstvenih radova, dvaju sveučilišnih znanstvenih projekata, a potom i do uviđanja potrebe i želje za zajedničkim radom na knjizi. Urednici su tada pozvali autore da se zajedno upuste u pisanje znanstvene knjige posvećene vinu i vinarstvu. U radu na ovoj knjizi u konačnici je sudjelovalo 15 autora koji su se kroz tri glavna dijela knjige dotakli nekih od prepoznatih izazova vinskog sektora. Iako su vinogradarstvo i vinarstvo poljoprivredna i gospodarska aktivnost prisutna tisućljećima, tek im je u posljednjih nekoliko desetljeća posvećena značajnija istraživačka pozornost iz ekonomske perspektive. Rezultat rada vinogradara i vinara proizvodno je specifičan te podložan emocionalnim i kvalitativnim procjenama, ali je s ciljem dugotrajnog i uspješnog poslovanja potrebno dobro razumjeti i njegovu ekonomsku dimenziju. Promjene u svim sektorima gospodarstva, a posebno u poljoprivredi, koje su rezultat globalizacije, klimatskih i okolišnih promjena, tehničkog napretka, promjena u logističkim i opskrbnim lancima i posljedično kretanjima dobara u globalnoj trgovini, razvoja informacijsko komunikacijske tehnologije, promjena u strukturi i dostupnosti radne snage, značajno i ubrzano utječu na sektor čije je osnovno obilježje dugotrajan proizvodni proces. Tako je i u Republici Hrvatskoj gdje se vinogradarstvo i vinarstvo uspješno razvijaju te su važan dio lokalne tradicije, ali su posljednjih godina pod sve snažnijim pritiskom konkurenata, klimatskih promjena, promjena potrošačkih navika i drugih ekonomskih izazova. U knjizi su kroz ukupno 12 poglavlja sistematizirani i prikazani rezultati istraživanja autora iz različitih područja teorijske i poslovne ekonomije i ekonomske agronomije. Zahvaljujući značajnom trudu autora i ostvarenim istraživačkim doprinosima, ova knjiga je, prema zaključcima recenzenata, zaslužila kategorizaciju znanstvenog uredničkog djela. Autori su, kroz svoja druženja, rasprave, zajednički trud i rad identificirali i analizirali neke od ključnih izazova s kojima se vinski sektor susreće te su, pišući poglavlja u knjizi, predložili potencijalna rješenja.

Udžbenik se sastoji od šest poglavlja u kojima se prezentira razvoj teorija međunarodne trgovine od Adama Smitha i klasične teorije, pa do Marca Melitza i "nove-nove" trgovinske teorije. Paralelno s predstavljanjem teorijska, autori prezentiraju empirijske rezultate testiranja teorija međunarodne trgovine. Rad se većim dijelom oslanja na grafičku analizu trgovinskih modela proizašlih iz teorija međunarodne trgovine.

This paper examines the variables determining operating revenues (OR) of more than 25, 000 European Travel Agency and Tour Operators Firms across European Union. Using the panel data obtained from BvD Amadeus and spanning the period 2010-2016, our research examines the impact of firm-level (total assets, number of employees, loans) and country-level variables (number of arrivals) on OR. Our results showed differences in OR determinants across different country groups (North vs South, where South countries are Portugal, Spain, Italy, Greece and Croatia while North countries are other EU member states). Using fixed effects estimator we found different sizes and statistical significances of the estimated coefficients of the OR determinants across firms operating in these two groups of countries. In the case of the firms operating in South countries, the estimated coefficient of the variable number of employees is significantly lower than for firms operating in North countries, indicating lower contribution to OR/productivity of employee in the case of firms operating in South. Completely opposite is true in the case of total assets variable, while size of loans is not significant determinant of OR. Finally, we find that number of tourists’ arrival has significant contribution to OR only for firms operating in the South countries.

In this paper we investigate firm level activity in Croatian tourism industry. Our analysis is based on the sample of more than 10,000 firms obtained from Bureau van Dijk database for the period 2006-2015. Theoretical basis of our paper is the Gibrat’s law, which states that firm size and growth rate are independent of each other. Within tourism industry, we diJerentiate between supporting divisions and the main industry division (accommodation industry), and test the Law on firms in supporting divisions using modified hybrid estimator. In that way, we add to the existing field of knowledge in two ways: through analysis and quantification of intra-industry links within the Law’s framework and by employing hybrid estimator originally developed by Mundlak, which is a novelty in this field of research. Although, our findings do not confirm the Law, we are able to discern supporting tourism industry divisions whose growth is highly determined by the growth of accommodation industry., U ovom radu analizira se aktivnost poduzeća u turističkom sektoru Hrvatske. Analiza je temeljena na uzorku od više od 10 000 poduzeća preuzetom iz baze podataka Bureau van Dijk za razdoblje od 2006. do 2015. godine. Teorijski temelj našeg rada je Gibratov zakon, koji navodi kako su veličina i stope rasta poduzeća međusobno neovisne. Unutar turističkog sektora razlikujemo sporednu i glavnu sektorsku klasifikaciju (smještaj) te testiramo Gibratov zakon na poduzećima iz potpornih odjeljaka koristeći se modificiranim hibridnim procjeniteljem. Na taj način doprinosimo postojećoj literaturi na dva načina: analizom i kvantifikacijom unutar-industrijskih odnosa unutar okvira Gibratova zakona i primjenom hibridnog procjenitelja koji je izvorno razvio Mundlak, što je novost u ovom području istraživanja. Iako rezultati našeg istraživanja ne potvrduju Gibratov zakon, možemo detektirati koja je od sastavnica sektorske klasifikacije turizma u velikoj mjeri određena rastom smještajne industrije.

This manuscript provides an insight into employers’ assessment of the importance and performance of the competencies acquired among business and economics bachelor graduates in Croatia. While this issue is a not a new one, it came back into the spotlight after the Global Financial Crisis and the disturbances in the labour market. These disturbances were manifested through increased unemployment rate, with a significant share of highly educated people unable to find paid work. Informance-performance analysis is performed and results can be interpreted and used for quality assurance and improvement of the business and economics study programs in Croatia. Long-term depression and other economic problems such as inadequate conditions that employers offer – for instance, small wages in relationship to other EU members – are the main reasons for negative demographic movements in the country. Moreover, findings imply that aside from these reasons, movements of highly educated people could be caused by the level and quality of competences of Croatian bachelor degrees'.

Stručna monografija je napisana kako bi pomogla institucijama visokog obrazovanja prilikom uvođenja online nastave u nastavni kurikulum.

Globalization, offshoring and the notable growth of containerization have changed the maritime transport and logistics chains. Ports became integral part of complex supply chains and serve as a logistics centres, add value, link flows and influence the supply chain patterns and processes. The port competitiveness is determined by its in- house strengths such as efficient freight handling and hinterland connections and by its position and links in the global supply chains. The aim of this paper is to investigate the importance of port integration in the supply chains and its impact on port competitiveness. This paper provides both theoretical and empirical analysis and outline the significance of this investigation for port operators, shipping lines, forwarders and other stakeholders.

Trade facilitation plays a crucial role in country’s engagement in the international trade. As tariffs come down, estimating how other factors affect trade has increasing policy importance. A country’s trade can enhance not only through its own trade facilitation reforms, but also the reforms of its trading partners. The aim of this research is to empirically investigate the impact of trade facilitation on international trade distinguishing between developed and developing countries. We employ augmented gravity model in order to estimate this relationship across 150 countries. The World Bank Logistic Performance Index (LPI) is used as a proxy variable of trade facilitation. The results suggest that trade will increase with improvements in trade facilitation. The results also lead us to the conclusion that developing countries must take steps forward in trade facilitation in order to increase its engagement in international trade. If policies are properly implemented, trade facilitation may increase country’s trade involvement.

The EU Cohesion policy is based on a complex system of fiscal transfers, their main goal being to accelerate economic and social cohesion. In this paper, the contributions of the Structural funds and Cohesion fund (SFCF) to economic growth on national level while controlling for the institutional quality are tested. Aim of the paper is show whether institutional quality is a bottleneck for effective usage of SFCF. The analysis is based on the country-level data during 2000-2013 period. In the presented econometric models, we emphasize the importance of the institutional quality on the economic growth. The results show that when Institutional Quality Indicator as a regressor is included together with the size of inflows from SFCF, SFCF inflows have no influence on economic growth. Moreover, we found that neither the institutional quality separately or in interaction with SFCF inflows, is a statistically significant factor for economic growth in the EU-27. The results are signifincantly different when we apply the same methodology on two subsamples, where we distinguish between countries with high and low level of institutional quality index.

The EU Cohesion policy is based on a complex system of fiscal transfers, their main goal being to accelerate economic and social cohesion. In this paper, the contributions of the Structural funds and Cohesion fund (SFCF) to economic growth on national level while controlling for the institutional quality are tested. Aim of the paper is show whether institutional quality is a bottleneck for effective usage of SFCF. The analysis is based on the country-level data during 2000-2013 period. In the presented econometric models, we emphasize the importance of the institutional quality on the economic growth. The results show that when Institutional Quality Indicator as a regressor is included together with the size of inflows from SFCF, SFCF inflows have no influence on economic growth. Moreover, we found that neither the institutional quality separately or in interaction with SFCF inflows, is a statistically significant factor for economic growth in the EU-27. The results are signifincantly different when we apply the same methodology on two subsamples, where we distinguish between countries with high and low level of institutional quality index., Kohezijska politika Europske unije predstavlja složen sustav fiskalnih transfera kojima se želi ubrzati ekonomska i socijalna kohezija. U ovom radu provedeno je empirijsko istraživanje na temelju ocjenjivanja više regresijskih jednadžbi ekonomskog rasta s ciljem utvrđivanja doprinosa Kohezijskog i strukturnih fondova ekonomskom rastu zemalja članica EU u razdoblju od 2000. do 2013. godine. Za nezavisnu varijablu, između ostalih, odabran je indeks kvalitete institucija. Rezultati analize na cjelokupnom uzorku zemalja ukazuju na to da, iako se potvrđuje postojanje konvergencije, strukturni i Kohezijski fond nemaju utjecaj na ekonomski rast. Jednako tako, utvrđeno je da kvaliteta institucija zasebno, niti u interakciji sa sredstvima strukturnih i Kohezijskog fonda nije statistički značajan čimbenik ekonomskog rasta u skupini EU27, ali se rezultati značajno mijenjaju ako se osnovni uzorak razdvoji na zemlje s visokom i niskom razinom kvalitete institucija.

This article provides a comprehensive review of trends in transport industry and its role in Croatian and EU economy. It is well known that transport represents one of the crucial industry of the economy. Transport industry and related transport infrastructure networks are seen as key drivers in the promotion of economic growth and development. With around € 1.5 billion in Gross Value Added (GVA), the transport and storage services industry accounted more than 4.5 % of total GVA in Croatia in 2014, while it was 5% at the EU level. This paper surveys the theoretical and empirical literature on the linkages between transport industry and economic growth. The aim of the research is to analyze the role of transport industry in Croatian economy, distinguishing among different modes of transport. It is analyzed the economic performance of transport industry and trends of each mode of transport by using statistical methods. In the paper is estimated the impact of different variables on transport industry, moreover on gross value added of transport industry. It is used panel data analysis on data spanning 15 years, from 2001 to 2015 for 28 EU Member states, in order to estimate the effects of the most important variables that affect grow value added of transport industry. Fixed effects estimator shows that gross value added of manufacturing industry and compensation of employees have a significant impact on the gross value added of transport industry. Considering the trends in the transport industry in the past 14 years, among all modes of transport, the land transport e.g. road transport still counts for the most important factor in growth of transport industry on the both EU level and in each member state by itself.

According to Gibrat’s law, growth rate of the firm is independent of firm’s size. This paper empirically tests Gibrat’s law on the panel data of Croatian firms during the period from 2006 to 2015. Moreover, we test for any structural differences between full sample and subsample of firms, the subsample comprising the firms that are registered in at least one of the five Slavonian counties. The aim of this paper is to show the importance of taking into consideration regions within countries when testing the Law. Our data comes from Bureau Van Dijk’s Amadeus database and originally included more than 80, 000 firms. We use panel data analysis to disentangle effects of various firm-level variables on the growth rate of the firms. We use sales of the firm and the number of employees as proxies for the size of the firm. Moreover, we include variables such as the age of the firm, growth opportunities (proxied by ratio of intangible fixed asset to total fixed asset) and solvency ratio, in order to control for variables other than the size that affect the growth rate of the firm. Simple statistics showed that average growth rate of the small firms is almost 2 p.p. higher than the one for medium and large firms, econometric model (fixed effects (FE) model) showed that there exists statistically significant negative connection between size of the firms and their respective growth rates. That is, we reject Gibrat’s law for the case of Croatian firms in general. Econometric analysis on subsample of firms from Eastern Croatia showed similar results (size of coefficients and significance) for all variables except the age of the firm. We find that there exist significant structural difference in “age of the firm-growth rate” link between firms in Eastern Croatia as opposed to of the rest of the firms in Croatia. While age of the firm is not significant at all when we estimate the FE model on the whole sample, it is highly significant and positive for the firms in Eastern Croatia. We offer several explanations for that puzzling finding.

The United Kingdom decision to leave the European Union, the so-called Brexit, caused a major economic shock for the U.K. This paper analyses the impact on the Pound, by looking at GBP/USD and GBP/EUR exchange rates. Both these exchange rates were in fact volatile post- Brexit, especially immediately after the referendum held on 23rd of June 2016. Since then however, the pound has become more stable. In the paper we use generalized autoregressive conditional heteroskedastic (GARCH) model for modelling monthly and daily returns and forecast volatility of the aforementioned currency pairs. We also descriptively analyse possible influences of exchange rate volatility on the trade of Great Britain with two most important trading partners – European Union and United States. As the process of Brexit develops in the next two years (until March 2019), the pound can be expected to fluctuate again, due to many other factors which are putting pressure on the pound sterling right now, both economic, like domestic and foreign demand, and political ones.

Logistics service providers are an important factor in the business success of companies engaged in trade activities at national and international level. They play an important role in achieving competitive advantages of business entities directly involved in the buying and selling in international trade. The main objective of engaging logistics intermediaries, such as logistics service providers, is to facilitate the operation of companies that deal with the buying and selling at international level in regards to the organization of shipment and / or delivery of goods. As the business processes and business entities in international trade are becoming more complex, it is becoming increasingly difficult to manage all of the activities on one’s own. Logistics intermediaries are, on the other hand, qualified to manage certain areas of business operations. Logistics intermediaries come in different forms and under different names, but they all have the same goal: to provide help to companies in the transportation, storage, shipment and the distribution of goods from the seller to the buyer or the final consumer, of course, for a certain fee. This research revolves around logistics intermediaries in international trade such as international freight forwarders, 3PL, 4PL or LLP. The objective of this paper is to, based on the analysis of the different types of logistics intermediaries, their classification, functions, the ways they facilitate business operations for international companies, indicate the benefits of their engagement and the differences and similarities among them.

U ovoj znanstvenoj knjizi definirane su smjernice budućeg gospodarskog razvoja Grada Crikvenice kao komponente održivog razvoja. Knjiga predstavlja temeljni dokument planiranja i podlogu za perspektivne investicijske aktivnosti i donošenje relevantnih odluka nositelja gradske vlasti u području gospodarstva.

Integrativni procesi na europskom kontinentu povezani s težnjom pripadajućih država za gospodarskim povezivanjem svoj su inicijalni impuls imali u vanjskotrgovinskoj sferi. Republika Hrvatska je osamostaljenjem dobila autonomiju u kreiranju vlastite gospodarske, a samim time i vanjskotrgovinske politike, no želja za priključivanjem Europskoj uniji rezultirala je potrebom za prihvaćanjem globalnih vanjskotrgovinskih pravila WTO-a. Prilagođavanje navedene politike pravilima WTO-a uzrokovalo je velike promjene u svim segmentima gospodarstva, a posebno u vanjskotrgovinskom sektoru. S obzirom da svaka država želi ostvariti što veće koristi od integriranja i posljedične liberalizacije, ključno je pitanje što će ovi procesi značiti za nju, njezino gospodarstvo, stanovništvo, te kakve koristi i troškove može očekivati. Odgovori su mnogo kompleksniji od samih pitanja, potrebne su brojne analize pomoću kojih kvantitativno možemo procijeniti sve moguće posljedice, a za tu su potrebu razvijeni različiti pristupi, metode i modeli mjerenja učinaka vanjskotrgovinske politike. Namjena magistarskog rada je prezentirati teorijske značajke carinskih i bescarinskih barijera, kao i predstaviti mjere vanjskotrgovinske politike u upotrebi u Republici Hrvatskoj, uz ocjenu njihove učinkovitosti etabliranim indikatorima kvalitativne konkurentnosti (intragranska trgovina, tehnološka konkurentnost, kao i strukturnog aspekta vanjskotrgovinskih tokova). Posebnost ovoga rada je u izučavanju snažnih integracijskih procesa u kojima Hrvatska sudjeluje posljednjih godina, a koji su umnogome odredili i određuju vanjskotrgovinske odnose. U prvom dijelu pod naslovom "Teorijska zasnovanost vanjskotrgovinske politike" definirani su temeljni pojmovi vanjskotrgovinske politike i prikazano njihovo djelovanje. Pored toga, opisan je okvir današnje hrvatske vanjskotrgovinske politike određen priljučivanjem WTO-u, CEFTI, te skorom otpočinjanju pregovora o pridruživanju EU. Ujedno je prezentiran koncept nominalne i efektivne carinske zaštite temeljen na input-output tablicama. Oblikovanje vanjskotrgovinske politike Republike Hrvatske naslov je drugog poglavlja u kojem se na sustavan način, uvažavajući vremensku dimenziju, opisuju vanjskotrgovinske mjere u upotrebi, ali i daje predviđanje glede njihovog kretanja u budućnosti. Uz nezaobilazne mjere carinske zaštite, detaljno se analiziraju necarinske mjere zaštite, kao medij za izbjegavanje globalnih pravila trgovanja. Suptilnost količinskih ograničenja, mjera administrativnog protekcionizma, politike izvoznih poticaja, antidampinških i kompenzatornih opterećenja, carinskog postupka, politike javnih nabavki, pravila normizacije i mjeriteljstva, zaštite potrošača ogleda se u činjenici njihove efikasnosti, ali i netransparentnosti. Dugoročni strateški cilj Hrvatske je članstvo u EU, stoga je jasna intencija adoptiranja Sporazuma o stabilizaciji i pridruživanju, kao fundamentalne odrednice cjelokupne hrvatske politike. Za potrebe ovoga rada bit će predstavljene posebnosti u odnosu na dosadašnju generaciju Europskih sporazuma, te cjelovita analiza njegovog vanjskotrgovinskog aspekta. Posljednji, četvrti dio rada temelji se na izabranim indikatorima kvalitativnog aspekta konkurentnosti. Predstavlja se njihov povijesni razvoj, a zatim slijedi primjena odgovarajućeg pokazatelja na primjeru Hrvatske, čime će se ocjeniti adekvatnost hrvatske vanjskotrgovinske politike u proteklom razdoblju. Skupine indikatora koje će služiti za ocjenu kvalitete vanjskotrgovinske politike Hrvatske su: indikatori intragranske razmjene, indikatori tehnološke konkurentnosti te indikatori strukturnoga aspekta vanjskotrgovinskih tokova. Općeprihvaćenu metodu mjerenja intragranske trgovine inaugurirali su Grubel i Lloyd (1975), temeljenu na doprinosima Verdoorna (1960), Kojime (1964) i Grubela (1967), dok je mjerenje marginalne intragranske razmjene evoluiralo od pristupa Hamilton-Kniesta (1991), Grenaway-Hine-Milner-Elliota (1994), do Brülharta (1994). Tehnološka se konkurentnost mjeri pokazateljima usporednih prednosti po tehnološkim razredima (RCA) fundiranih doprinosima Balasse (1965) uz primjenu metode tehnološke klasifikacije Wolfmayr-Schnitzer (1998), koja koristi kombinaciju ranijih metoda Leglera (1982), Schulmeistera (1990), i Schulmeistera i Boescha (1987). Utvrđivanje relativnih komparativnih prednosti (RCA) prema CEPII indeksu te vanjskotrgovinska specijalizacija po tehnološkim razredima ima cilj identificirati jake i slabe točke gospodarstva, te ocjeniti adekvatnost prilagodbe respektirajući vremensku dimenziju. Strukturalni aspekt vanjskotrgovinskih tokova promatran je relativnim udjelom "osjetljivih" proizvoda u agregatnom izvozu, kao i regionalnom koncentracijom hrvatskoga izvoza.

Lobbying is a vital and permanent process of every open society and is recognized in every modern country with open market economy. Therefore it is only natural that lobbying has great significance in Bruxelles. According to some estimations the number of professional lobbysts has long passed 10, 000. They represent the interest of big business and industries. Some industries are more prone to lobbying than other. Sugar industry has particular strong lobbyist, not only in EU but also in USA. Sugar industry in EU is regulated under Common Agricultural Policy (CAP) since its beginnings under Single Common market organisation. Croatia as a future member country needs to adapt itself to the EU rules and has done so since beginning of negotiations with EU, where lobbying had great importance, not only in sugar sector but in general. Specifically lobbying for before mentiond sector began in Bruxelles began in 2005. Croatian sugar firms, because of the reform of EU sugar industry, under Stabilisation and Association Agrement faced quota for exporting to EU and the case study in this paper will present results of lobbying activity of firms in Croatia sugar industry.

Joining the European Union opens considerable funding opportunities which include substantially higher EU budget allocation. Since Croatia is joining the EU six months before the end of current financial perspective (2007-2013 period) it will benefit from an allocation in amount of EUR 800.2 million. Out of this amount EUR 449.4 million is envisaged from the structural funds and Cohesion fund while in the new financial perspective (2014- 2020) EUR 1.6 billion will be available for Croatia. Compare to level of pre- accession assistance it presents substantial increase. An adequate absorption capacity and financial management system of EU funds is needed in order to obtain full utilisation of the allocated post-accession assistance. Economic theory suggested that absorption capacity is seen as a set of limits to an effective use of aid flows and that, among other elements, depends on disbursement constraint. It is particular evident when it is case of EU funds. Experience with implementation of EU funds in other countries, especially Central and Eastern European (CEE) has shown that the absorption capacity to generate real impact through the EU financial resources depends on the efficiency of the state administration, municipalities as well as other stakeholders (private sector, NGOs etc.). This is conditioned by the availability to implement a complex policy- making process of programming, management, implementation, monitoring and evaluation of EU funds.

Classical theory finds impulse for international exchange in different relative prices of production, i.e relative abundance of different factors of production. Intra-industry trade concept means trade between similar products of different countries (economic integration). Applying classical concept in practice would mean that the trade between states at similar stage of development will decline through time. However, the fact is that developed countries (this especially applies to the EU) exchange more despite the fact that their relative costs of production, i.e. relative wealth of the factors of production are more similar. Statistically it is just possible to substantiate the fact that the most developed countries in the world exchange between more than half of total world trade (OECD, 2010). This fact has led to the development of alternative theories, opposite to classical theories of international trade. Thereby, it took into account entirely new assumptions. These assumptions reflect the actual conditions in which international trade takes place, such as economy of scale, product differentiation, monopolistic (oligopolistic) competition, multinational companies etc. Croatia is a small open economy that will join the EU on July 1st, 2013. Nominal Copenhagen criteria are fulfilled, but the real question is where Croatia stands when real convergence is concerned (if we take into account that intra-industry trade could be a significant indicator of real convergence of national economy), i.e. the extent which Croatia trade/exchange is inter-industry and intra- industry. The increase in the share of bilateral intra-industry trade would mean that Croatia managed to differentiate production, and that is able to compete in the EU market by selling similar products. In other words, it leads to a smooth adjustment hypothesis, according to which the adjustment costs of particular country or sector, when entering the economic integration will be low if there is a relatively high level of intra-industry trade. Aim of this paper is to analyze intra-industry trade of Croatia between year 2002 and 2012 and section of 10 European countries with biggest share of bilateral trade flows: eight from the EU (Italy, Germany, Slovenia, France, Great Britain, Austria, Hungary and Netherlands) and two countries from CEFTA 2006 (Bosnia & Herzegovina and Serbia).

At the beginning of operations in the 19th century, the role of credit rating agencies was to distribute valuable information for potential investors, concerning present and future financial stability of private firms and later, sovereign states. Their purpose was to ; on one hand help potential debtors find fresh capital for their business and on the other, protect future creditors. The same principle applied to sovereign states. In theory, sovereigns with sound fiscal and monetary policies, after being graded positively by rating agencies, should indirectly get lower (or the same) interest rates on future loans and there will be an increase in demand for government debt obligations which would help them in managing and financing debt (and vice versa). Experience, especially those from the last global financial crisis, proved that not only the credit rating agencies were wrong in their primary assignment e.i. in indentifying good from bad debtors but that they had the power to keep sovereign states as ''hostages'' of their discrete choices without any political or economic effects on their business. When liquidity on global financial market is low and the debt structure of many developed and developing countries is unsustainable because of poor economic growth, the role of credit rating agencies, under current system in state debt management, is crucial for understanding future of state finances.

The main topic of the paper are finding factors with greatest impact affecting divergence of utilisation of IPA funds in Croatia NUTS2 regions, picutre is also given about divergence inside NUTS2 (NUTS 3 regions, e.g. counties)

Credit rating agencies are an important part of the globalized financial system and thus influence the global economy. Their role is to assess the level of credit worthiness of debt issuers for potential investors in private and public sector. Yet, after every financial crisis and/or defaults of particular companies and sovereigns, the credit rating agencies become the focal point of criticism by economists, politicians, media, etc. The reason for this lies in the inability of the credit rating agencies to do the job they are supposed to do i.e. risk signaling. This paper builds on that assessment, while focusing on three biggest credit rating agencies – Standard & Poor’s, Moody’s Investors Service and Fitch Ratings and their influences on spreading the financial crisis on the Eurozone., Agencije za kreditni rejting su važni dio globaliziranog financijskog sustava, te stoga i utječu na globalnu ekonomiju. Njihova uloga je procijeniti razinu boniteta emitenta duga za potencijalne investitore u privatnom i javnom sektoru. Ipak, nakon svake financijske krize i/ili neispunjenja ugovornih obveza određenih tvrtki i suverenih država, agencije za kreditni rejting postaju žarište kritike ekonomista, političara, medija, i td. Razlog tomu leži u nesposobnosti agencija za kreditni rejting da obavljaju svoj posao, a to je upozoravanje na rizike. Ovaj rad se temelji na toj ocjeni, s naglaskom na tri najveće agencije za kreditni rejting – Standard & Poor’s, Moody’s Investors Service and Fitch Ratings, i njihovim utjecajem na širenje financijske krize u Eurozoni.

Credit rating agencies are an important part of the globalized financial system and thus influence the global economy. Their role is to assess the level of credit worthiness of debt issuers for potential investors in private and public sector. Yet, after every financial crisis and/or defaults of particular companies and sovereigns, the credit rating agencies become the focal point of criticism by economists, politicians, media, etc. The reason for this lies in the inability of the credit rating agencies to do the job they are supposed to do i.e. risk signaling. This paper builds on that assessment, while focusing on three biggest credit rating agencies – Standard & Poor’s, Moody’s Investors Service and Fitch Ratings and their influences on spreading the financial crisis on the Eurozone.

Le chômage est devenu un problème de génération dans le monde entier. La crise financière et la crise économique globale ont eu un plus grand impact sur le marché du travail. Dans le monde entier il y a un système disparate de protection sociale. Dans le présent document, on a choisi de mettre l'accent sur le modèle américain et sur le modèle social européen afin de prouver que le modèle social européen, avec son plus haut niveau de systèmes de protection sociale, affecte les salaires et l'emploi, alors que le modèle d'économie de marché des États-Unis augmente le niveau de l'emploi et empêche la diminution des niveaux de salaires. Le but est de prouver l'hypothèse que la diversité des systèmes de protection sociale est étroitement corrélée avec le marché du travail, en utilisant des méthodes et moyens scientifiques appropriés.

La construction d'une Europe sociale est un thème récurrent dans l'histoire de l'Union souvent présentée comme trop libérale. En vertu du principe de subsidiarité les questions sociales relèvent pour l'éssentiel de la compétence de chaque État membre plutôt que de l'Union. Qu'il s'agisse de salaires des politiques d'emploi on de contre l'exclusion sociale, la compétence reste nationale. La préoccupation sociale ont vu le jour à partir de la dynamique du marché interieur via la question de la libre circulation des travailleurs. Aujourd'hui, la traité comporte clairement des objectifs sociaux et l'Union doit ouver en faveur d'une économie social de marché hautement competitive. Il existe un acquis en matière sociale qui n'est pas negligeable, qu'il s'agisse des mesures pour lutter contre les discrimination, des prescriptions en matière de droit du travail, de la promotion de la santé publique ou des soutiens financiers qu'apporte l'Union.

L’accélération du processus de la mondialisation accroît l’interdépendance entre les économies nationales économiques. La transmission de chose conjoncturelle est devenue une composante majeure des relations économiques internationales comme l’atteste l’attention portée au risque d’une crise financière se propageant à l’échelle mondiale. La politique économique qu’un pays réalise, a pour effet débordement des effets négatifs sur ses effets économiques. Les conséquences négatives de l’incoordination de la politique économique internationale permettent d’observer le monde comme un bien public. Si l’instance de la coopération internationale a été un région fixant des objectifs communs, ça pourra conduire des politiques économiques coordonnés mutuellement. Le problème de la répartition des coûts et des avantages de la liaison d’une telle coordination est un problème de son introduction et les préférences des accords régionaux.

The achievement of social and economic development involves three processes: the increase in gross domestic product per capita, the reduction of unemployment and increase of employment, the reduction of poverty and income inequalities. Directly related to that are the objectives of new EU member states, as well as other European countries that wish to join the Union and thus contribute to their own development – economic and social. Integrating the new Member States and candidate countries represents a great challenge for the EU, and especially for the social systems of individual countries. The reason for this is primarily a variety of social systems and socio-demographic characteristics of these countries. Because of the strong convergence those can adversely affect their economies, but also the entire Internal Market. With the support of financial instruments and measures that encourage convergence at the national and European level, national social policies contribute to overall economic and social development and economic and social cohesion. Economic convergence leads to social convergence, but not necessarily to the harmonization of social systems. The goals of the paper include the proper assessment of different effects and the dynamics of social (and economic) reforms, which enable a greater level of social convergence, the evaluation of the effectiveness of national social policies and the assessment of the ability of individual countries to adapt to the contrasting demands of social security and employment, and economic growth and development.

European Union has been continually expanding its borders, aiming at connecting the Member States by common economic and political interests. The upcoming Croatian accession to the EU fits into this context. Croatia has been preparing for EU accession by taking the necessary institutional and policy measures, related to the regulations about the Community acquis. However, the measures for adjustment to the Community acquis cannot be an end in itself but their implementation should be the goal. The common agricultural policy of the European Union offers a range of possible options for the development of rural areas, the implementation of which should obtain a transparent structure as early as pre-accession phase. By its policy of development of agriculture and rural areas, the Union has been initiating a new approach especially for the underdeveloped rural areas, creating attractive conditions for the existence of the rural population also referring to environmental protection measures. The aim of this thesis is to provide an analysis of the present situation in the Croatian agricultural policy, to elaborate and structurally depict political fields which comprise the strategic topics for upgrading and constant improvement, to show the ways of mobilizing the neglected potential of Croatian rural areas and to display the types of financial help offered by the EU.

The European Social Area, as a result of the ongoing integration process in Europe, is set to expand to the South-Eastern European area. Besides Croatia, which recently finished negotiations for EU membership, adjustments of social systems are going on in all Western Balkan countries as well as in Turkey. Bosnia and Herzegovina (B&H) has a lot to catch up, especially because of its difficult political and economic situation. The 1990-ties war, its consequences like deindustrialisation, poverty, social exclusion and huge unemployment (27, 2% in 2010), as well as thousands of refugees overburdened the social system of B&H. More than 1, 7 million beneficiaries are included in social security schemes, which is more than a half of its total population. However, social security is not yet accessible to all who need assistance, especially in rural areas. Besides that, social policies are conducted on entity and/or regional levels. GDP per capita in B&H (PPS ; 2010) amounted for 3.258 EUR, which equals just 30% of the EU average. Lagging behind the EU is also emphasized with the problem of a high poverty rate. Accordingly, major problems related to social issues in B&H are: •High unemployment – but also high inactivity rate, “bad jobs” and high frequency of unreported labour •High rate of population with lower levels of education •Exclusion and discrimination on ethnic or gender grounds, as well as discrimination of former refugees •Inadequate social security system with a low range and coverage.

L'aide financière est principalement approuvée bilatéralement par les États donnateurs, même si une partie importante est transférée aussi multilatéralement. Ce type d'aide est important pour certains pays, alors que son importance est faible pour d'autres pays. Dans la plupart des cas la motivation principale de l'État donnateur est l'objectif politique. Il y a trois hypothèses qui expriment le rapport entre l'aide financière, la croissance et le développement. D'après la première hypothèse l'aide financière favorise la croissance et le développement. Selon la deuxième hypothèse, l'aide financière n'a aucun impacte sur la croissance et le développement, alors que la troisième hypothèse soutient que l'impacte de l'aide financière sur le développement dépend des conditions des États donnateurs et des États récepteurs.

La Croatie est signataire des Accords de stabilisation et d’ association avec l’ UE, membre de l’ Accord de libre-échange centre-européen (ALECE) 2006. La Croatie a signé l’ Accord de libre-échange avec l'Association européenne de libre-échange (AELE) et Croatie a signé l’ Accord de libre-échange avec la Turquie. Bien qu’ elle soit signataire des accords de libre-échange avec les pays mentionnés, la Croatie ne peut pas pleinement jouir des avantages du libre échange des marchandises, entre autres choses, pour de cette raison. La Croatie a un énorme déficit dans le domaine des échanges de marchandises avec l’ étranger. En appliquant la cumulation d’ origine Pan-euro-Med, la Croatie pourra pleinement jouir de sa position de leadership dans l’ ALECE 2006, ensuite mettre en équilibre son bilan des échanges de marchandises avec l’ étranger, ainsi que réaliser les conditions nécessaires pour pouvoir atteindre la croissance économique &agrave ; long terme.

L'économie croate a toutes les caractéristiques d'une petite économie ouverte. Pour ce type d'économie la participation aux échanges internationaux de marchandises, services et capitaux est indispensable, et c'est aussi une opportunité pour accélérer son développement économique en appliquant les procè ; ; s de globalisation et régionalisation. Dans le cadre de ces procè ; ; s, une place particuliè ; ; re pour la Croatie occupe l'Union européenne, avec laquelle se déroule la plupart des échanges internationaux. Comme pour tous les pays de l'Europe Centrale et orientale ainsi que de l'Europe du Sud-Est, la période de transition et d'adaptation s'est déroulée à ; ; travers les soi-disant accords européens. Dans le cas de la Croatie on a appliqué le Pacte de stabilité et d'adhésion à ; ; l'UE. Il a apporté une libéralisation asymétrique du commerce et l'abolition complè ; ; te des barriè ; ; res douaniè ; ; res pour les produits industriels à ; ; partir du 1er janvier 2007. Le procè ; ; s d'intégration, à ; ; savoir l'application du Pacte de stabilité et d'adhésion à ; ; l'UE, a intensifié ses échanges internationaux avec l'UE, et par conséquent il influe sur le commerce intrabranche. L'objectif principal de cet article est d'analyser le commerce intrabranche en Croatie, en appliquant la nouvelle théorie du commerce international et la méthode basée sur l'indice de Grubel-Lloyd par lequel on mesure les collisions des courants commerciaux. Le niveau du commerce intrabranche sur la période observée 1995-2005, sur 3 et 5 numéros SITC montre l'influence de la libéralisation sur les courants commerciaux. En outre, le niveau du commerce intrabranche montre le degré de convergence réelle de l'économie croate avec l'UE.

Gospodarsko integriranje u Europi odgovor je na globalizacijske procese na svjetskoj razini, ali i završetak procesa tranzicije. Intragranska je trgovina primijećena kao posljedica trgovinskog integriranja država EU. Za mala gospodarstva poput hrvatskog, sudjelovanje u gospodarskim integracijama je neizbježno, a ujedno znači i sudjelovanje u međunarodnoj podjeli rada. Teorijsku osnovu ovoga rada čini tzv. nova trgovinska teorija koja intragransku trgovinu objašnjava na dva načina: horizontalnu intragransku trgovinu smatra posljedicom monopolističke konkurencije na tržištu i rastućih povrata obujma između sličnih država, dok je vertikalna intragranska trgovina utemeljena na komparativnim faktorskim prednostima – za razliku od tradicionalne HO teorije, specijalizacija se ne događa između, već unutar pojedine industrijske grane. Analitički dio temelji se na podacima o hrvatskoj razmjeni na 3 i 5 brojki SITC, i to na razini cjelokupnog gospodarstva, kao i bilateralno na razini 3 brojke SITC prema Njemačkoj, Italiji, Sloveniji, Republici Češkoj, Mađarskoj te Bosni i Hercegovini. Sukladno teorijskim postavkama o sličnosti proizvoda, korištena je minimalna razina raščlambe na 3 brojke SITC, odnosno ona koja zadovoljava kriterije sličnosti proizvoda u kontekstu intragranske trgovine. Razdoblje promatranja se odnosi na 1995. do 2005. godinu. Primjenom Grubel-Lloydovog indeksa kao statičnog pokazatelja, odnosno Brülhartovog indeksa marginalne intragranske trgovine kao dinamičkog pokazatelja intragranske trgovine, ustanovljene su vrijednosti indeksa intragranske trgovine Hrvatske i uspoređeni s državama sličnih gospodarskih obilježja. Osim toga, intragranska trgovina mjerena Grubel-Lloydovim indeksom je dekomponirana na horizontalnu i vertikalnu komponentu uz uobičajeni kriterij &plusmn ; ; 15%, ali i prošireni kriterij &plusmn ; ; 25%. Ekonometrijskom analizom ispitana je povezanost između veličine intragranske trgovine i odabranih makroekonomskih veličina ili njihovih derivata. Na taj je način izdvojena grupa statistički signifikantnih: GDP, udaljenost između glavnih gradova, trgovinska otvorenost te dvije dummy varijable – postojanje granične crte, odnosno nedavno sudjelovanje u zajedničkom tržištu. Priključivanje Hrvatske Europskoj uniji treba rezultirati akceleriranjem gospodarskog razvoja i općeg blagostanja. Stalno povećanje intragranske trgovine rezultirat će punom integracijom Hrvatske u EU i otvoriti mogućnost za maksimiziranje pozitivnih integracijskih učinaka te ubrzanom dostizanju gospodarskih parametara EU.

The history of the Conference dates from 1997, held under the title “ Economic Sys¬ ; ; tem of European Union and Adjustment of the Republic of Croatia” . Its main idea and purpose, has been to promote knowledge and exchange of experience between scientists and experts from the EU, Croatia and its neighboring countries on the field of economic integration. The goal of the 6th Conference was the interactive exchange of experiences about the negotiation process and the adoption of the EU requests into national law system, as well as the connection of changeable institutional environ¬ ; ; ment for doing business. The know-how transfer to students was realized by their incorporation in the Conference Organizing Committee.

Le transfert de technologie permet l’ acc&egrave ; ; s direct aux instruments modernes nécessaires pour la production et les connaissances. Au sense commercial, le transfert de technologie représente la remise de la documentation, des connaissances, des expériences ou bien de l’ équipement aux acheteurs de la technologie, sous des conditions déterminées. Le transfert de technologie est un proc&egrave ; ; s dynamique et complexe, comprenant plusieurs phases. Il se déroule dans le cadre d’ une économie ou bien entre des sujets des états différents. Au moment du choix de la technologie, le sujet qui s’ occupe des affaires a la possibilité de choisir des sources de tecnologie nationales ou étrang&egrave ; ; res. Les sources nationales comprennent les resources de recherche du bénéficiaire de la technologie ou bien les résultats de la recherce d’ autres chercheurs nationaux. L’ utilisation des propres sources de technologie représente un des buts du développement technologique de chaque pays. Cependant, les recherces qui apportent les nouvelles soultions technologiques sont liées d’ une mani&egrave ; ; re étroite aux moyens financiers en disposition. Dans le cas des propres resources de recherche limitées, la technologie qui arrive de l’ étranger a une importance exceptionnelle. Il faut tenir compte du fait que le succ&egrave ; ; s de l’ application de la technologie dans l’ économie ne dépend pas seulement de la technologie, mais aussi du choix de la forme de transfert de technologie et de son application. Il n’ est pas facile d’ acheter tout simplement la technologie sur le marché. Seulement les nouvelles solutions technologiques peuvent créer les avantages technologiques et la compétitivité. Pour cette raison il est tr&egrave ; ; s important de choisir la forme de transfert de technologie qui permettra &agrave ; ; l’ entrepreneur d’ utiliser la technologie moderne. Le transfert de technologie qui se déroule dans le cadre des propres institutions de recherches et des investissements communs ainsi que par la coopération dans le secteur de la production représentent pour le récepteur la plus acceptable forme de transfert de tecnologie parce que cela lui garantie l’ emploie certain de la technologie moderne dans le proc&egrave ; ; s de production

In analysing the foreign trade, it is useful to distinguish between three types of international trade – Heckscher-Ohlin-Samuelson trade, intra-industry trade and local (cross-border) trade. The first is driven by differences between economies in their relative endowments of factors of production. Local cross-border trade may be driven by fine distinctions of comparative advantage, by convenience as a result of the way frontiers and communications and transportation networks relate to each other. The concept of intra-industry trade extends the principle of comparative advantage to include fine differences in endowments of specific subfactors of production, usually based on specific elements of human capital or technological capability. In trade between developed industrial economies dominated is intra-industry type of trade. Aim of this paper is dinamic analises of Croatian intra-industry trade with Brülhart’ s index of marginal intra-industry trade, or indirect measurement of Croatian integration in European and global trade flows in sector 5 according to SITC (chemical products).

More intensive international financial flows and increase in investments, being the most typical aspects of globalization, contribute to strong rise in international trade and open new market possibilities. Strong international competitiveness and concentration of financial and trade flows, followed by the WTO-policy, contribute to further improvement of the industrial countries’ position at the world market. Economic integration is for them a good way of participating in the international division of labor. Under conditions of gradual (sometimes even asymmetric) trade liberalization based on preferential trade agreements, transition countries can realize the inevitable economic restructuring without high adjustment costs. The position of the reform countries of CEE towards the EU should be viewed in the same way. The aim of the paper is to analyze the Croatian intra-industry trade (IIT) based on the new trade theory and the Grubel-Lloyd-based methods of trade overlap measurement. The main purpose is to present the case of Croatia and, by taking into consideration the experience of other transition countries, to show how trade liberalization can influence the structure and type of trade flows. The further purpose is to show that economic integrations are a good way of achieving a successful trade expansion for a transition country-based enterprise under conditions of globalization. Furthermore, the paper includes the index of marginal IIT (MIIT) which gives insight into the structure of change in the newly created trade flows. Therefore, MIIT proves to be a valuable instrument for identifying the adjustment costs of a business sector restructuring as a result of trade liberalization. The paper makes use of the Brülhart indices of MIIT.

Transition countries of the southeast Europe have to invest heavily to transform their economic system and make it compatible with the market economy providing stabile growth rates. One of the major prerequisites for a quicker economic growth as well as the EU accession is building national economies capable to face competitive pressures of the EU countries. Competitiveness is in its nature very complex so it is possible to generate its quantitative analysis only through simultaneous analysis of numerous indicators resulting in the synthetic assessment of the developing performances of national economies. The AHP method has been used in this paper in order to rank the selected countries of the southeast Europe, including Croatia and some of the new EU members according to the synthetic competitive indicator. The results should present weather the economic factor measured through competitiveness is crucial for the EU accession, or the adjustment of the political and legal system also play important role.