Amina Ahec Šonje

• PhD in Economics
• Managing Director at Arhivanalitika, Zagreb, Croatia

This paper explores how the "signals" approach can be used to examine determinants of currency disturbances in transition economies during 1990s. We construct the measure of a currency disturbance - an index of foreign exchange market pressure as a referent series. The "signals" approach is used in constructing an effective system of early warning...

This paper discusses the possible determinants of national price levels. Subsequently, the statistical variables that represent certain determinants were identified, and then the cross-country regression analysis is undertaken. Through the different regression specifications one can get an insight into certain factors that have possibly led to a re...

The balance of payments crises that have shaken the world in the last two decades have awakened interest in academic and political circles in creating systems for discovering the causes of the disturbances that end in currency crisis. If disturbances on foreign exchange markets could be identified early enough, there might be enough time for policy...

This paper examines the two currency disturbances that took place in Croatia, one at the beginning of 1999 and the other in the summer of 2001. The "signals" approach is used in constructing an effective system of early warning indicators heralding currency disturbances. This system monitors the behavior of various macroeconomic and financial varia...

Literature on economic growth and FDI implies that FDI can facilitate growth of recipient economy via capital formation channel directly and via positive spillovers and inclusion into international productive and innovative networks indirectly. In this paper, the role of FDI in explaining growth is examined in two quantitative steps. In the first s...

Input in the analysis of the efficiency of expenditures on tertiary education is expenditure on tertiary education per pupil in percentage of GDP per capita. Output is the share of unemployed with tertiary education in the total number of unemployed. Inputs and outputs are based on 2005-2013 averages. Czech Republic, Latvia and Lithuania represent...

We measured „spending efficiency“ on secondary education in eleven New Member States of EU in three subsequent periods using PISA test scores in 2009, 2012 and 2015 as outputs, and expenditure on secondary education (as % of public expenditure on education) as inputs. Input variables are constructed in a way that they represent the average of expen...

https://EconPapers.repec.org/RePEc:pra:mprapa:85152 Contribution of classical growth factors, labor and capital, to the growth performance of modern economies became limited. Modern economies are becoming more knowledge-intensive and service-oriented, which increased the relevance of human capital for mid-term and long-term growth. Thus, education...

In this article and the series that follows, we will analyze efficiency at all levels of the Croatian education system compared to European countries (at primary level) and New Member States of EU (at secondary and tertiary level of education). Comparable data at a country level allows us to investigate the efficiency of public expenditures on prim...

Modern economies are becoming more knowledge-intensive and service-oriented, which makes human capital more important than ever for mid-term and long-term growth. Therefore, education, the main channel of governments' influence on human capital formation, became important research subject in the field of economic growth. This paper examines efficie...

Note: The estimates are performed using the PMG estimator of Pesaran et al. (1999); the reported short-run coefficients and the speed of adjustment are simple averages of country-specific coefficients; all equations include a constant term; standard errors are in brackets, p values are in parenthesis; *** denote significance at 1 percent confidence...

Contribution of classical growth factors, labor and capital, to the growth performance of modern economies became limited. Modern economies are becoming more knowledge-intensive and service-oriented, which increased the relevance of human capital for mid-term and long-term growth. Thus, education, as the main channel of government's influence on hu...

The aim of this article is to analyze the exposure of the Croatian foreign exchange market to various risks and to detect triggers of currency crises. In the last twenty years Croatian foreign exchange market have been hit by four strong speculative attacks. Disruptions caused by regulatory measures in 2001 and 2015 was easily repaired without seve...

Can price discrimination reduce the company's market power and the economic inefficiency of monopolization? It may sound strange, but the company unintentionally corrects the inefficiency of a monopolized market. Therefore, price discrimination, in the absence of competition, may be the second best solution to the problem of market power.

This study examines the long- and short-run relationship between private consumption, housing wealth, stock market wealth and income. In order to asses this relationship empirically, we use pooled mean group estimators of dynamic heterogeneous panel data on a sample of 30 developed and emerging economies. The sample countries are segmented into thr...

This article analyses the relationship between housing wealth and consumption for four European post-transition economies: Bulgaria, Croatia, Estonia and the Czech Republic. We use a vector error correction model and a threshold error correction model in order to asses the long-run and the short-run responsiveness of consumption to permanent change...

An important aspect of macroeconomic policy is to monitor the time path of the current account, which can be considered as a measure of national net indebtedness. If current account deficit is stationary, the external debt is sustainable. In this paper we test the long-run relationship between imports and exports in sixteen transition European coun...

An important aspect of macroeconomic policy is to monitor the time path of the current account, which can be considered as a measure of national net indebtedness. If current account defi cit is stationary, the external debt is sustainable. In this paper we test the long-run relationship between imports and exports in sixteen transition European cou...

International trade liberalization focuses on similarities in consumer's behaviour, while the local paradigm points out the variety of different and specific consumer's needs. International marketing is being challenged by the struggle between two opposite concepts of international trade –liberalization and protectionism. Both concepts impose a nec...

Ljudi su po naravi društvena bića, kako nas lijepo izvješćuje Aristotel, a to znači da po-stoje tako što, ostvarujući međusobne odnose, oblikuju zajednicu ili društvo. Pri tom postojanju u takvoj zajednici zamisli članova društva o tom društvu u kojem žive utječu na to samo društvo pri samom nastanku društva, pri održavanju društva i pri promjenama...

This paper provides an overview of application of a modified NBER “ leading indicators approach” in Croatia since the mid 1990s. Shortness of time series, which has proven to be the biggest obstacle in applying the original NBER method, was overcome by a modification of a methodological step in the scoring procedure. The paper consists of three maj...

The book presents a practical manual for the use of the signaling method in economic and financial forecasting. In addition to the theoretical review, the book also contains instructions for using the "ArAn1" software for forecasting financial indicators.

Economic literature on economic growth and FDI (foreign direct investment) implies that FDI can facilitate growth of recipient economy via capital inflow instantly and via positive spillovers and inclusion into international productive and innovative networks ex post. In this paper the role of FDI is examined by using bi-variate Granger causality t...

U literaturi o gospodarskom rastu i izravnim stranim ulaganjima, izravna strana ulaganja mogu potaknuti gospodarski rast zemlje primatelja neposredno, kroz kanal kapitalne formacije i posredno, uz pomoć pozitivnih učinaka «prelijevanja» i uključivanjem u međunarodne proizvodne i inovativne mreže. U ovome se radu ispituje značenje izravnih stranih u...

Literature on economic growth and FDI implies that FDI can facilitate growth of recipient economy via capital formation channel directly and via positive spillovers and inclusion into international productive and innovative networks indirectly. In this paper, the role of FDI in explaining growth is examined in two quantitative steps. In the first s...

This paper explores how the "signals" approach can be used to examine determinants of currency disturbances in transition economies during 1990s.We construct the measure of a currency disturbance - an index of foreign exchange market pressure as a referent series. The "signals" approach is used in constructing an effective system of early warning i...

Hrvatsko gospodarstvo nastavlja rasti po relativno visokim stopama. U prvom je tromjeseèju 2003. bruto domaæi proizvod poveæan 4,9 posto u odnosu na prvo tromjeseèje prethodne godine, dok je stopa rasta u odnosu na posljednje tromjeseèje 2002. prema desezoniranim podacima iznosila 1,0 posto, odnosno 4,2 posto na godišnjoj razini. Time je nastavljen...

The accession process to the EU for all of the observed countries obliges them to pursue structural reforms and further liberalize their capital accounts. These types of analyses may allow enough maneuvering space for policy makers to prevent or at least minimize negative consequences of any future currency crises in the light of the integration pr...

Hrvatsko je gospodarstvo u 2002. godini ostvarilo stopu rasta BDP-a od 5,2 posto, što je najviša stopa rasta od 1997. godine. Osobna potrošnja i investicije u kapitalna dobra bili su glavni pokretači ubrzane ekspanzije, dok je potrošnja države zabilježila umjereni pad. Značajan negativan doprinos rastu BDP-a došao je od strane neto izvoza i to zbog...

The First Conference of the Ekonomija Moderna (association for the promotion of modern economic thought) "THE RELATIONSHIP BETWEEN THE STATE AND MARKET ON THE PASS OF THE INTEGRATION OF CROATIA IN THE WORLD ECONOMY" was held in Zagreb, October 25, 2002. Goal: The biggest contribution of the First Conference of the EKONOMIJA MODERNA is the opening...

Rast hrvatskog gospodarstva se postupno usporava. Na takav zaključak ukazuje većina dostupnih ekonomskih pokazatelja. Nakon porasta od 5,0 posto u drugom tromjesećju 2003. godine, u trećem je tromjesećju rast BDP-a bio zamjetno niži i iznosio je 3,9 posto na meðugodišnjoj razini. Meðutim, desezonirani podaci i podaci o trend-ciklusu zasad ipak ne u...

This paper examines the two currency disturbances that took place in Croatia, one at the beginning of 1999 and the other in the summer of 2001. The “signals” approach is used in constructing an effective system of early warning indicators heralding currency disturbances. This system monitors the behaviour of various macroeconomic and financial vari...

The First Conference of the Ekonomija Moderna (association for the promotion of modern economic thought) "THE RELATIONSHIP BETWEEN THE STATE AND MARKET ON THE PASS OF THE INTEGRATION OF CROATIA IN THE WORLD ECONOMY" was held in Zagreb, October 25, 2002. Goal: The biggest contribution of the First Conference of the EKONOMIJA MODERNA is the opening...

This chapter will try to explain what economists believe is the nature of the process of economic growth in transition countries in light of past transition process results. The first section briefly reviews major economic thought with regard to new economic circumstances in transition countries. Even though many economists analyze the effects of t...

The First Conference of the Ekonomija Moderna (association for the promotion of modern economic thought) "THE RELATIONSHIP BETWEEN THE STATE AND MARKET ON THE PASS OF THE INTEGRATION OF CROATIA IN THE WORLD ECONOMY" was held in Zagreb, October 25, 2002. Goal: The biggest contribution of the First Conference of the EKONOMIJA MODERNA is the opening...

Konačno izvješće pod nazivom "Pokazatelji međunarodne likvidnosti i sustav ranog upozoravanja financijskih kriza" daje rezultate istraživanja osjetljivosti hrvatskog ekonomskog i financijskog sustava na razne poremećaje. Izvješće donosi pregled postojećih teorija financijskih kriza i pregled glavnih metodoloških i empirijskih radova koji su tragali...

This paper examines the two currency disturbances that took place in Croatia, one at the beginning of 1999 and the other in the summer of 2001. The "signals" approach is used in constructing an effective system of early warning indicators heralding currency disturbances. This system monitors the behavior of various macroeconomic and financial varia...

This paper is an attempt of detailed analysis of macroeconomic and financial back-ground of the last banking crisis in Croatia which started in spring 1998. Taking the existing theoretical explanations of the banking crises’ causes as a starting point, it has been tested the possibility of usage of the new analytical and prognostic method - signal...

Tranzicija nije samo prilagodba novim odnosima cijena, novim tržištima, tehnologijama i preferencijama rasta. U još većoj mjeri, tranzicija je i prilagodba novim institucionalnim i sociokulturnim pravilima. Ta se pravila često i neizbježno prenose iz razvijenoga svijeta, dok sudionici koji bi se trebali ponašati prema tim pravilima dolaze iz postko...

There are a number of challenges, both on the revenue side and the expenditure side, with which the government will be confronted at the end of 2000, and certainly in 2001. First, unions in the public sector will probably insist on November's wage growth in line with the collective bargaining agreement, given that the government failed to cut publi...

Krajem rujna objavljeni podaci o kretanju bruto domaceg proizvoda u drugom tromjesecju 2000. godine ukazuju na nastavak trenda oporavka hrvatskog gospodarstva. U drugom je tromjesecju rast BDP-a iznosio 3,7 posto u odnosu na isto tromjesecje prethodne godine, dok je kumulativni rast u prvoj polovici godine iznosio 3,8 posto na medugodisnjoj razini....

Pravi instinkt za cikluse i tržišne poremećaje može razviti samo zdravo poduzetništvo bez obzira na njegovo podrijetlo (strano ili domaće), uz pomoć kvalitetnog institucionalnog, pravnog i financijskog okruženja koje štiti i osigurava zdravu poslovnu klimu, a svima jednake tržišne izglede i uvjete poslovanja. Da bez takvih snažnih impulsa nema niti...

In developed economies it is inconceivably to conduct economic, business and development policy without relying upon professional analytical methods, what finally brought to development of the whole spectrum of analytical approaches, from the simplest ones (inquiries, economic tests), across more compound (input-output tables, leading indicators ap...

This paper discusses the possible determinants of national price levels. Subsequently, the statistical variables that represent certain determinants were identified, and then the cross-country regression analysis is undertaken. Through the different regression specifications one can get an insight into certain factors that have possibly led to a re...

The balance of payments crises that have shaken the world in the last two decades have awakened interest in academic and political circles in creating systems for discovering the causes of the disturbances that end in currency crisis. If disturbances on foreign exchange markets could be identified early enough, there might be enough time for policy...

Autorica daje osvrt na dio teorijskih i empirijskih radova u kojma se preispituju moguće determinante brzog i dugoročnog održivog rasta tržišnih ekonomija u nastajanju. Uz analizu ekonomkih uvjeta s počekta procesa tranzicije, ocjenjuje uspješnost svih dosad provedenih zahvata ekonomske transformacije i razmtara mjere koje bi tranzicijske zemlje u...

This paper examines the two currency disturbances that took place in Croatia, one at the beginning of 1999 and the other in the summer of 2001. The "signals" approach is used in constructing an effective system of early warning indicators heralding currency disturbances. This system monitors the behavior of various macroeconomic and financial varia...