Faculty of Economics
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Item type:Publication, Decentralisation and fiscal performance in Central and Eastern Europe(Taylor & Francis Ltd, 2021); This paper provides empirical evidence on the association between decentralisation and budget deficits of the general government for a panel of 11 former transition countries during 1991–2018, controlling for the effects of various demographic, institutional, and macroeconomic variables. We provide evidence that decentralising government activities in Central and Eastern Europe (CEE) has favourable effects on the fiscal position of general government. Also, we show that the greater reliance on intergovernmental grants as a source of finance of local governments does not have detrimental effects on the overall fiscal discipline. Therefore, we cannot support the so-called ‘common pool’ hypothesis, which predicts that intergovernmental transfers lead to higher public expenditure, thus exacerbating the fiscal imbalances of the general government. On the other hand, we show that the effects of revenue decentralisation depend critically on the specific measure of local government revenue. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, ANALYSIS OF THE IMPACT OF ECONOMIC FACTORS UPON THE FDI INFLOW IN SEE AND CEE COUNTRIES(Publishing house of the University of Bialystok, Poland, 2019-12-25); ; ; Purpose – The goal of this paper is to explore the possible influence of certain economic factors over the FDI inflow in South-East European (SEE) countries and Central and Eastern European (CEE) countries. We compare the situation in 7 countries from the region of South-East Europe: Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia, Montenegro and Serbia and 7 countries from the region of Central and Eastern Europe: Bulgaria, the Czech Republic, Hungary, Poland, Romania, Slovenia, and Slovakia. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Debt or Wage-led Growth: the European Integration(Center for Economic Integration, Sejong University, 2016-06); Toshevska trpchevska, KaterinaThis study aims to outline the importance of increasing real wages in European Union member countries. Since the 1970s, the European Union’s original member countries (European Union-15) have pursued a neoliberal strategy, favoring exportled growth. This strategy was supposed to increase the European Union’s international competitiveness by reducing labor costs and encouraging investment as profits garnered a greater share of national income. Since the 1990s, the European Union’s newer members, primarily Central Eastern European countries, have pursued debt-led growth as European Union membership opened financial markets to foreign capital. Both strategies adopted wage moderation and both have been associated with weaker and more volatile growth alongside rising unemployment. We argue that the European Union should adopt a Keynesian demand-led growth model and raise real wages to generate higher effective demand, which is crucial for achieving growth in economies operating below full employment. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Influence of Trade and Institutions on Economic Growth in Transitional Economies: Evidences from Countries from Central and Eastern Europe and Western Balkans(Institute of economic sciences, Belgrade, Serbia, 2017)