{"title":"Global Financial Development Report 2013: Rethinking the Role of the State in Finance","authors":"Marijana Bađun","doi":"10.3326/FINTP.38.1.5","DOIUrl":"https://doi.org/10.3326/FINTP.38.1.5","url":null,"abstract":"","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"7 1","pages":"97-101"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87569715","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"List of reviewers in the period 1999-2013","authors":"Martina Fabris","doi":"10.3326/FINTP.37.4.6","DOIUrl":"https://doi.org/10.3326/FINTP.37.4.6","url":null,"abstract":"","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"1 1","pages":"427-435"},"PeriodicalIF":0.0,"publicationDate":"2013-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88281396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides an analysis of absolute economic convergence among the group of ten new member states (NMS-10) that entered European Union in the year 2004. Convergence dynamics is estimated for the period from 1997 to 2012 as well as for two sub-periods: 1997-2007 and 2007-2012. The analysis covers aspects of sigma- (If-) and beta- (I2-) convergence. Convergence is first estimated by testing for panel unit root in GDP per capita series and then by using standard cross-section equations for absolute convergence. Different time intervals were used so that the analysis could capture the impact of the global economic crisis on long-term convergence performance among the NMS-10 countries. Our results show that this group of countries formed one homogenous convergence club during the entire observed period and achieved high convergence rates in the period before the crisis, while the level of homogeneity in the NMS-10 convergence club was significantly diminished in the period after beginning of the crisis.
{"title":"Long term economic convergence among ten new EU member states in the light of the economic crisis","authors":"Luka Šikić","doi":"10.3326/FINTP.37.4.2","DOIUrl":"https://doi.org/10.3326/FINTP.37.4.2","url":null,"abstract":"This paper provides an analysis of absolute economic convergence among the group of ten new member states (NMS-10) that entered European Union in the year 2004. Convergence dynamics is estimated for the period from 1997 to 2012 as well as for two sub-periods: 1997-2007 and 2007-2012. The analysis covers aspects of sigma- (If-) and beta- (I2-) convergence. Convergence is first estimated by testing for panel unit root in GDP per capita series and then by using standard cross-section equations for absolute convergence. Different time intervals were used so that the analysis could capture the impact of the global economic crisis on long-term convergence performance among the NMS-10 countries. Our results show that this group of countries formed one homogenous convergence club during the entire observed period and achieved high convergence rates in the period before the crisis, while the level of homogeneity in the NMS-10 convergence club was significantly diminished in the period after beginning of the crisis.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"11 1","pages":"361-381"},"PeriodicalIF":0.0,"publicationDate":"2013-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72745933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"List of articles published in “Financial Theory and Practice”, Vol. 37, 2013","authors":"Martina Fabris","doi":"10.3326/FINTP.37.4.7","DOIUrl":"https://doi.org/10.3326/FINTP.37.4.7","url":null,"abstract":"","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"38 1","pages":"437-439"},"PeriodicalIF":0.0,"publicationDate":"2013-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80347636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fiscal policy can have positive effects on economic growth through changes in the structure of total expenditure, i.e. reductions in unproductive or current expenditure, lower taxes, and higher government investment - provided that it is offset by a decrease in unproductive expenditure. Such changes reduce the size of government, which positively affects output growth. Lower volatility of government investment expenditure is also growth-enhancing. However, the strongest growth effects are found for improvements in the fiscal balance, in particular if achieved by a reduction in the size of government expenditure. This suggests that a cautious fiscal policy stance may be the best way to improve growth.
{"title":"Fiscal policy and growth in new member states of the EU: a panel data analysis","authors":"Martina Dalić","doi":"10.3326/FINTP.37.4.1","DOIUrl":"https://doi.org/10.3326/FINTP.37.4.1","url":null,"abstract":"Fiscal policy can have positive effects on economic growth through changes in the structure of total expenditure, i.e. reductions in unproductive or current expenditure, lower taxes, and higher government investment - provided that it is offset by a decrease in unproductive expenditure. Such changes reduce the size of government, which positively affects output growth. Lower volatility of government investment expenditure is also growth-enhancing. However, the strongest growth effects are found for improvements in the fiscal balance, in particular if achieved by a reduction in the size of government expenditure. This suggests that a cautious fiscal policy stance may be the best way to improve growth.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"131 1","pages":"335-360"},"PeriodicalIF":0.0,"publicationDate":"2013-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74929699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In times of increasing public distrust in government and its institutions, engaging the public in decision making may strengthen democracy as well as result in a more effective allocation of scarce public resources. Participatory budgeting has started in Brazil and spread around the world but is a new concept in some countries. The objective of this paper is to reveal the current situation of attempts to involve the public in making decisions on budget allocations in Lithuanian municipalities, disclose barriers to a more active participation, and propose possible strategies for greater public empowerment. For that purpose a survey was designed that was filled out by members of municipal councils. The results indicate that members of municipal councils are aware of the advantages of participatory budgeting. However, there are numerous barriers for meaningful citizen participation, including lack of financial resources, occasional incompetence of municipal administration, citizensâ indifference, and bureaucratic inertia.
{"title":"Involving citizens in public decision making: the case of participatory budgeting in Lithuania","authors":"Liucija Birškytė","doi":"10.3326/FINTP.37.4.3","DOIUrl":"https://doi.org/10.3326/FINTP.37.4.3","url":null,"abstract":"In times of increasing public distrust in government and its institutions, engaging the public in decision making may strengthen democracy as well as result in a more effective allocation of scarce public resources. Participatory budgeting has started in Brazil and spread around the world but is a new concept in some countries. The objective of this paper is to reveal the current situation of attempts to involve the public in making decisions on budget allocations in Lithuanian municipalities, disclose barriers to a more active participation, and propose possible strategies for greater public empowerment. For that purpose a survey was designed that was filled out by members of municipal councils. The results indicate that members of municipal councils are aware of the advantages of participatory budgeting. However, there are numerous barriers for meaningful citizen participation, including lack of financial resources, occasional incompetence of municipal administration, citizensâ indifference, and bureaucratic inertia.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"42 1","pages":"383-402"},"PeriodicalIF":0.0,"publicationDate":"2013-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78484372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper analysis business strategies of banks by solving a goal programming model using a multi-criteria decision making approach. Multi-criteria business performance is represented as the weighted sum of selected indicators, and the weights or importance of the indicators are a solution of the corresponding problem of goal programming. The ten biggest commercial banks (according to size of balance sheet assets) in the Republic of Croatia were chosen. For an analysis of the operations of the ten banks, three groups of indicators were chosen - profitability, security/risk and liquidity - which were calculated from the banks’ financial reports for the year 2010.
{"title":"A multi-criteria analysis of the banking system in the Republic of Croatia","authors":"V. Rosenzweig, Hrvoje Volarević, Mario Varović","doi":"10.3326/FINTP.37.4.4","DOIUrl":"https://doi.org/10.3326/FINTP.37.4.4","url":null,"abstract":"This paper analysis business strategies of banks by solving a goal programming model using a multi-criteria decision making approach. Multi-criteria business performance is represented as the weighted sum of selected indicators, and the weights or importance of the indicators are a solution of the corresponding problem of goal programming. The ten biggest commercial banks (according to size of balance sheet assets) in the Republic of Croatia were chosen. For an analysis of the operations of the ten banks, three groups of indicators were chosen - profitability, security/risk and liquidity - which were calculated from the banks’ financial reports for the year 2010.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"54 30 1","pages":"403-422"},"PeriodicalIF":0.0,"publicationDate":"2013-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82611299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Austria, Croatia, Hungary, Italy and Slovenia differ not only in level of average gross wage but also in the overall taxation of wages. While Croatia, Hungary and Slovenia tax the average gross wage less than Italy and Austria, a comparison of gross wages that are in absolute values close to the average gross wages of Italy and Austria or higher shows the reverse, i.e. it reveals a considerably higher taxation in the former three countries.
{"title":"Taxation of wages in the Alps-Adriatic region","authors":"Mitja Cok, Mateja Ana Grulja, T. Turk","doi":"10.3326/FINTP.37.3.2","DOIUrl":"https://doi.org/10.3326/FINTP.37.3.2","url":null,"abstract":"Austria, Croatia, Hungary, Italy and Slovenia differ not only in level of average gross wage but also in the overall taxation of wages. While Croatia, Hungary and Slovenia tax the average gross wage less than Italy and Austria, a comparison of gross wages that are in absolute values close to the average gross wages of Italy and Austria or higher shows the reverse, i.e. it reveals a considerably higher taxation in the former three countries.","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"78 1","pages":"259-277"},"PeriodicalIF":0.0,"publicationDate":"2013-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88138311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book review: A Dictionary of Taxation, Second Edition","authors":"Irena Klemenčić","doi":"10.3326/fintp.37.3.5","DOIUrl":"https://doi.org/10.3326/fintp.37.3.5","url":null,"abstract":"","PeriodicalId":30016,"journal":{"name":"Financial Theory and Practice","volume":"9 1","pages":"331-333"},"PeriodicalIF":0.0,"publicationDate":"2013-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78701893","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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