UTJECAJ MONETARNE I FISKALNE POLITIKE NA INDUSTRIJSKU PROIZVODNJU U REPUBLICI HRVATSKOJ
THE IMPACT OF MONETARY AND FISCAL POLICY ON INDUSTRIAL PRODUCTION IN CROATIA
Author(s): Petra PalićSubject(s): National Economy, Economic policy, Financial Markets, Public Finances, Fiscal Politics / Budgeting
Published by: Sveučilište u Zagrebu Ekonomski fakultet
Keywords: industrial production; fiscal policy; monetary policy; panel analysis;
Summary/Abstract: This paper investigates the impact of monetary and fiscal policy on industrial production in Croatia. Numerous foreign and domestic studies have estimated this relationship with the aim of making recommendations to economic policy makers. Using the panel model, it examines how relative producer prices, government consumption, personal consumption, interest rates, real effective exchange rate and foreign demand affect 23 components of industrial production according to the level of the technological intensity. The analysis is conducted on quarterly data for the period from the first quarter of 2000 to the last quarter of 2015. Also, an analysis of the impact of monetary and fiscal policy on industrial production for the period before and after the economic crisis in the Republic of Croatia is conducted. The results of the empirical part of the research are in accordance with the domestic and foreign literature, and a statistically significant relationship between the impact of monetary and fiscal policy on industrial production is noticed.
Journal: Poslovna izvrsnost - Business Excellence
- Issue Year: 15/2021
- Issue No: 1
- Page Range: 63-78
- Page Count: 16
- Language: Croatian
