Croatian National Bank is not targeting inflation but the exchange rate as the nominal anchor or intermediary goal of monetary policy and inflation in Croatia is a dominantly foreign driven phenomenon. Using monthly data on CPI in Croatia from January 1997 up to November 2015, ARIMA (0,1,1) x (0,1,1)12 model is fitted as the one describing CPI behavior pattern and therefore reliable for CPI forecasting. Furthermore, to establish its volatility pattern several ARCH family models are tested and ARCH (1) model is found to be the best-fitted one in explaining CPI volatility development in Croatia.

In a modern society, the issues of sustainable development have evolved on different levels, from the new global frameworks over governmental policies to the new business models. In the 1980s, the term sustainable development emerged from the relationship between preserving the planet and meeting human needs (IUCN, 1980). The general idea behind the concept of sustainable development is to meet the needs of the present generation without compromising the ability of future generations to meet their own needs (United Nations General Assembly, 1987). As one of the main challenges in economics and business, the concept of sustainable development has also emerged in the wide area of business economics. The aim of this paper is to provide an extensive literature overview dealing with the concept of sustainable development within a field of business economics. For the purpose of the analysis a bibliometric approach with multiple correspondence analyses has been used on the Web of Science Core Collection database for the observed period of ten years. The results illustrate the importance of sustainable development as a topic, as well as wide range of approaches and variety of sub-topics linked to the concept of sustainable development in business and economics literature.

The main aim of this research is to examine Slovenian trade flows in goods and services with the rest of the world since joining the European Union (EU) in May 2004. We applied Granger causality test and Vector Error Correction Model (VECM) on quarterly data from the first quarter of 2005 up to the first quarter of 2017. Applied Hansen and Seo (2002) test confirmed the assumption of linearity in the relationship between the variables under consideration and therefore the appropriateness of the empirical approach for the purpose of this paper. The research results indicate importing to exporting as a dominant trade pattern in the Slovenian economy and successful trade balance with the rest of the world since Slovenia joined the EU.

In the public discourse of transition economies, as well as in scientific literature focused on their functioning, there is still an active debate on whether privatization should be encouraged in view of its effects on the economy. In the context of the effects of privatization on employment, this paper focuses on labor market developments in Croatia. The primary emphasis is on the analysis of employment by activity and ownership type. The main aim of the paper is to determine the impact of privatization, i.e. the growing share of private ownership, on employment in Croatia. The estimate is conducted using the OLS method in the EViews statistical package. The results of the econometric analysis indicate that the increase in the share of private property leads to an increase in employment. In view of the results obtained it is recommended to further reduce the high share of state ownership in the Republic of Croatia.

The topic of the paper is of a high importance and interest for Croatia since it covers the sector which provides many jobs in professions with a shortage of workers. Besides historical and comparative methods, theoretical methods such as analysis, synthesis, induction and deduction were also used in this research. The main objective was to describe and explain the way the Export Credit Insurance division of Croatian Bank for Reconstruction and Development (HBOR) has contributed to the Croatian shipbuilding industry recovery through managerial aspect. Analysis of the shipbuilding managerial economics in the scope of national economy reveals different models of government influence on recovery of the industry: financial support, restructuring, privatization, and export credit insurance. Considering a high degree of risk present in export, export credit insurance has a major impact on the domestic shipbuilding recovery. The main goal of export credit insurance is to increase the competitiveness of Croatian shipyards abroad

Tax evasion is affected by many diverse subjective and objective factors. They are intertwined and determined as well as mutually connected and complementary. This paper is aimed at and orientated towards identifying the factors, both subjective and objective, that affect tax evasion in Bosnia and Herzegovina. The main research result indicates that tax evasion has multiplicative effects. It destroys the reputation of institutions primarily and, in particular, the reputation of the tax administration, it poses a threat to the tax system and rule of law, causing taxpayers distrust of the tax system itself. Thus, by reducing tax evasion the situation in public finances improves substantially. The paper shows the theoretical analysis of the phenomenon of tax evasion (which is not a goal in itself), including the empirical analysis of the subjective and objective factors that have the greatest influence on tax evasion in Bosnia and Herzegovina and the assessment of the amount of taxes evaded.

The economic system encompasses a large number of systemic categories and activities, which have to meet user requirements and needs by means of an efficient combination of knowledge, ideas, capital and technology. Economic subjects of the system include companies, as the goal-oriented system focused on the real and profitable market affirmation, which implies adequate acknowledgement and efficient satisfaction of user needs. The economic system has a high degree of interactivity with numerous systems, such as the system of science and technology, global economic system, socio-political system. Economic systems have various levels of development, various development dynamics, various operation efficiency. The overall objective of the economic system can be presented as the formation of a dynamic network of efficient business systems, part of the economic system, the operations which achieve the maximum possible degree of efficiency, expressed as the ratio of achieved results and the level of engagement of limited resources for its realisation. Ensuring and improving the operation quality of a certain system requires synchronization of a wide spectrum of activities within the system itself, enables the expression of business potency, and is reflected on the development of the economic system as a whole. Business systems have various business concepts, business sensibility and business competence, and thus different improvement sources. Scheduling and coordination of activities in technologically demanding industries, as well as the optimisation of inputs in order to achieve the desired output, is based on the potential of optimisation model the adequate use of which enables the increase of system development level.

Investment policy and investing represent essential tasks, and also major issues of almost all socio-economic systems. Investment represents a development platform and is necessary for survival of market and economic systems; it comprises undertaking appropriate measures and activities to have the invested capital continuously increasing through exercising selected operations. Economic indicators, especially in the period of economic crisis, reflect unfavourable and widespread tendencies of unwanted business result that arise from inadequate business policy, where investing and investment policy may be marked as leaders in the area of business failure. Impossibility to accurately assume business results related to the investment, time disproportion between the investment and its initial, and particularly, optimal effects, and also irreversibility of the investment, further complicate the formulation of adequate investment policy strategy platform. Modelling of business strategies in the exposure to turbulent socio-economic, technological and market factors is an inspiration and a challenge to the researcher to representatively mirror the reality by selecting an adequate theoretical model. Faithful mirroring of the reality involves a subtle approach to classification of these factors by importance, level of influence, and also adequate quantifying, identifying and shaping the form, as well as the extent of their interdependence. Mathematical simulation model is a theoretical model that allows prediction of business results in the risk exposure expressed correspondently with the random component that is influencing it. The major concern of the mentioned approach is an adequate selection of the probability distribution of a random variable, customized to the investment conditions. It is necessary here to take into account empiric component of a territorial-geographic area of the investment implementation, whereby it is necessary to have insight into other aspects of distribution selection, such as experiences in the selected investment area (sectoral specificity) and adjustment to particular theoretical model. Simulation of investment effects provides an objective approach to strategic choice and adequate calculation of monetary results before operationalization of the project.

For years, the Republic of Croatia has been faced with the challenge of sustainability of its health care system due to the inefficiency of public health care institutions. It is generally believed that such development is the cause of health care system structure itself, which provides health care to all citizens. This paper seeks to explore whether public health care institutions can be more effective despite the system structure itself. The basic premise of the paper is that public health care institutions are ineffective because of the agent theory impact. In order to examine that premise, it is necessary to compare public and private health care institutions. The aim of this paper is to find out whether there is a greater impact of the agent theory in public health institutions in regard to different influence of private and public ownership on the management methods. The research methodology refers to the financial analysis of selected private and public health institutions. The examination of the professional qualification of managing directors of these institutions showed that there are no major differences in the share of experts in the field of economics in private and public institutions. Efficiency analysis based on the specific institutions shows that public health institutions are more ineffective than the private ones when it comes to cost management. Based on this, the conclusion is that the agent theory impact is more prevalent in public health care institutions.

Ever since its independence, Venezuela has based its economy on the manufacturing and export of a single product. In the 19th century, those products were cocoa and coffee beans, which were replaced by oil in the 20th century. This led to the Dutch disease which harmed other sectors of the economy, so the often corrupt governments bought social peace with socialist policies and government spending. During the 1980s, the first significant plunge in oil prices in the 20th century forced the Venezuelan government to conduct liberal reforms in order to receive assistance from the International Monetary Fund. These led to a significant decline in the standard of living and GDP, as well as, mass protests. Due to the popular discontent, the 1998 presidential elections were won by Hugo Chavez, a former military officer and the leader of the failed coup, who used the rebound in oil prices to start socialist reforms and economic recovery. Expropriations of privately owned assets and price controls weakened the domestic economy and led to inflation, while the rise in government spending strained the public finances. The big drop in oil price in 2014 caused the collapse of Venezuelan economy as well as social and political crisis. The data used in making this paper is from the Venezuelan government and its departments and institutes, as well as from the United Nations, the World Bank, other organisations and Venezuelan and foreign newspapers and web portals.