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Martina Basarac Sertić

Bio: Martina Basarac Sertić is an academic researcher from Croatian Academy of Sciences and Arts. The author has contributed to research in topics: European union & Panel analysis. The author has an hindex of 6, co-authored 15 publications receiving 81 citations.

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28 May 2015
TL;DR: In this paper, the authors provide analysis on the determinants of export performance on the extensive data-set of the 27 European Union member states’ total manufacturing and high-tech manufacturing industry.
Abstract: This paper aims to provide analysis on the determinants of export performance on the extensive data-set of the 27 European Union member states’ total manufacturing and high tech manufacturing industry. Hence, this paper adds to the existing empirical work by specifying an export performance equation not only as a function of income and price, as is traditionally done, but also industrial production and labour cost. For that purpose, dynamic panel data models are estimated by utilising the system GMM estimator for the period from 2000 to 2011. The obtained results indicate that both industrial production and domestic demand have a positive and statistically significant impact on total and high tech manufacturing exports. On the other hand, it is proven that foreign demand also has an impact on total manufacturing exports. Thus, the paper’s contribution is reflected in the acknowledgement that a stable macroeconomic environment (contained in the significance of a dummy variable for the economic crisis in bo...

26 citations

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TL;DR: In this article, the authors investigated the impact of green technologies on the eco-innovation index in 28 European Union member states and found that green technologies are central to the Europe's future and at the core of the European Union policies to boost competitiveness, create jobs, and generate sustainable growth.
Abstract: Eco-innovation, as a new concept, and green technologies are central to the Europe’s future and at the core of the European Union policies to boost competitiveness, create jobs, and generate sustainable growth for years to come. In this context, eco-innovation is a significant tool that combines decreased environmental impact with a positive socioeconomic impact. This paper highlights the prominent role of eco-innovation and investigates still scarcely explored impact assessment of GDP growth, quality of institutions, and recycling rates on the eco-innovation index in the 28 European Union member states. Specifically, the set of regression analyses that use panel estimation models was undertaken and the system GMM estimator with robust standard errors was used. Econometric analysis indicates that GDP growth rate, quality of institutions, and recycling rate of municipal waste had a statistically significant and positive effect on eco-innovation in the period 2010-2016. JEL Classification: C33, O11, O30

13 citations

Journal ArticleDOI
TL;DR: In this article, the authors present an overview of theoretical and empirical research on the interaction between political institutions and economic variables using the dynamic panel model, and investigate the indirect effects of electoral systems on the size of general government spending.
Abstract: This paper presents an overview of theoretical and empirical research on the interaction between political institutions and economic variables. Using the dynamic panel model, the paper also investigates the indirect effects of electoral systems on the size of general government spending. The analysis is performed on a panel dataset of 26 countries (25 member states of the European Union and Croatia) for the period between 1995 and 2010. The results show that government fragmentation and political stability affect the dynamics of budgetary expenditures in line with theoretical assumptions. Regarding the implications of this research for Croatia, it has been shown that a higher degree of government fragmentation leads to an increase in government spending which is a significant result since Croatia has generally had some form of coalition government.

9 citations

Journal ArticleDOI
TL;DR: In this paper, a special emphasis is placed on the influence of macroeconomic factors on small and medium enterprises (SMEs) employment in the wood industry, and a two-step Arellano-Bover/Blundell-Bond estimator with robust standard errors was used.
Abstract: Wood-based industries are an important part of the European Union (EU) manufacturing sector because their growth can help in achieving EU’s industrial policy goal of raising manufacturing’s gross domestic product (GDP) to 20% by 2020. In this paper, special emphasis is placed on the influence of macro-economic factors on small and medium enterprises (SMEs) employment in the wood industry. The research objective was to test whether traditional macroeconomic indicators of economic growth are significant determinates of SMEs employment dynamics. For estimation of employment dynamics, a two-step Arellano-Bover/Blundell-Bond (a system generalized method of moments) estimator with robust standard errors was used. The model contained the following independent variables: real GDP growth rate; industrial production of wood processing industry; the number of wood processing enterprises; and exporting of manufactured goods of wood processing. The findings confirmed that the increase in GDP growth rate, the industrial production of wood processing, and exporting of manufactured goods of wood processing had statistically significant and positive impacts on SMEs employment. It was also found that the existence of a high number of enterprises had a positive impact on employment.

8 citations

Journal ArticleDOI
11 Sep 2015
TL;DR: In this article, the authors investigated the European Commission necessary conditions for competitive industry in the context of furniture manufacturing and found that a better access to markets, higher investment, and stable macroeconomic environment are significant conditions for achieving production growth.
Abstract: This paper investigates European Commission necessary conditions for competitive industry in the context of furniture manufacturing. Namely, in the Industrial Strategy of the Republic of Croatia 2014–2020, the manufacture of furniture was assigned a strategic role. However, Croatia continues to underperform in comparison with the European Union member states in terms of return to pre-crisis levels. Accordingly, using the system of generalised method of moments estimators in two steps with robust standard errors, the panel model was estimated. Econometric analysis indicates that a better access to markets, higher investment, and stable macroeconomic environment are significant conditions for achieving production growth. Moreover, the results suggest that a furniture manufacturing sector would profit from lower energy prices.

8 citations


Cited by
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TL;DR: The Economic Effects of Constitutions: Torsten Persson and Guido Tabellini as mentioned in this paper presented the most ambitious study yet that attempts to identify and estimate the effects of constitutional design on economic outcomes.
Abstract: The Economic Effects of Constitutions. By Torsten Persson and Guido Tabellini. Cambridge, MA: The MIT Press, 2003. 320p. $35.00.Torsten Persson and Guido Tabellini have produced the most ambitious study yet that attempts to identify and estimate the effects of constitutional design on economic outcomes. They draw on data from more than 80 countries and control for demographic, historical, regional, and economic characteristics. The purpose is to determine whether the shape of political institutions has measurable impact on economic policies (e.g., fiscal balance, social welfare spending), on government performance (e.g., corruption indices, protection of property rights), and on direct measures of economic performance (e.g., productivity of capital and labor). The political institutions that draw the most attention are constitutional regime type and the method of electing legislators.

553 citations