University of Ljubljana, Faculty of Economics

About: University of Ljubljana, Faculty of Economics is a based out in . It is known for research contribution in the topics: Productivity & Tourism. The organization has 251 authors who have published 533 publications receiving 16109 citations.

Long-Term Effects of Yugoslav War

Abstract: In this paper, we examine the long-term effects of civil war in former Yugoslavia on economic growth and development. To this end, we employ the synthetic control methodology, and construct the missing counterfactual scenario for the long-run growth and development of former Yugoslav countries in the absence of the civil war by matching their growth and development characteristics with non-Yugoslav countries at the parallel stages of development. The results suggest that the civil war led to unprecedented long-run growth and development losses. In the absence of the war, per capita income levels of former Yugoslav republics would improve markedly with notable differences in the magnitude of the growth and development gains. The estimated effects of the civil war are robust to a large number of placebo checks, and falsification-based random permutation tests. The results show that not a single former Yugoslav country down to the present day has achieved the level of per capita income predicted by their synthetic control groups in the years preceding the civil war. Our results show that the Yugoslav civil war appears to be a permanent institutional shock with long-lasting implications for economic growth and development.

Comparison of Parametric, Semi-Parametric and Non-Parametric Methods in Bankruptcy Prediction

Abstract: This paper compares parametric, semi-parametric and non-parametric methods in prediction of bankruptcy. Special care is devoted to the effect of choice-based sampling. The choice of the sampling and estimation method lead to a similar trade off. Using choice-based sampling and logit model leads to minimization of risk exposure. Samples unbalanced across groups and Klein and Spady (1993) semi-parametric method allow for better overall prediction accuracy and thus profit maximization. Both the choice of sampling method and the choice of estimation method should be thus made conditional on an explicit objective function of the financial institution in assesing credit risk.

Transition, Privatization and Monetary Arrangements in the Countries Founded on the Territory of Former Yugoslavia

Abstract: The aim of our research was to compare the methods of privatization of social ownership and monetary system in the countries of former Yugoslavia with the privatization mode and monetary arrangement that could be considered as optimal. By applying the method of comparative analysis, it has been found out that the way of socially-owned enterprises being privatized and monetary regulations implemented had the crucial impact on the transition in the countries of former Yugoslavia. In fact, the chosen methods of privatization and monetary arrangements applied in these countries have established economies of uncompetitive enterprises. Privatization was either macro-economically harmful for the domestic savings and capital formation and / or unjust for people. In addition, our analyses have proved that the monetary regulation and foreign exchange policy were either not implemented at all or too little to neutralize the negative consequences of selling companies to foreign investors on the foreign exchange rate. The same goes for the combination of monetary policy and foreign exchange rate policy that should have been implemented so as to prevent speculative import and export of short-term capital. For the countries that have not joined the EU yet, it might be helpful to comply with the conclusions of our research and examine their path toward a market economy.

An exploration of diabetic foot screening procedures data by a multiple correspondence analysis

Abstract: AIMS Gangrene and amputation are among most feared complications of diabetes mellitus. Early detection of patients at high risk for foot ulceration can prevent foot complications. Regular foot screening (medical history, foot examination and classification into risk groups) was introduced at the out-patient diabetes clinic in Ljubljana in November 1996. We aimed to explore the relationships between the observed variables, check the appropriateness of the risk status classification and of the post-screening decisions. METHODS The data of 11.594 patients, obtained in 18 years, were analysed by multiple correspondence analysis (MCA). Most of the observed variables were categorical. RESULTS The majority of the screened population was free of foot complications. We demonstrated an increasing frequency and severity of foot problems with an increasing age, as well as the association between the loss of protective sensation and the history of foot ulceration, foot deformity and callus formation, the history of foot ulcer or amputation and acute foot ulceration. A new finding was that the location of foot deformity points was closer to female than male gender, indicating the possible role of fashionable high-heel footwear. The appropriateness of therapeutic decisions was confirmed: the points representing absent foot pulses and referral to vascular specialist were close together, as well as points representing foot deformity and special footwear prescription or callus formation and referral to pedicurist. CONCLUSIONS MCA was applied to the data on foot pathology in the population attending the out-patient diabetes clinic. The method proved to be a useful statistical tool for analysing the data of screening procedures.

Measuring Globalization of Economy as a Tool for Designing Economic Policys’ Strategies

Abstract: Measuring globalization of economy has become a challenge for academic profession, international governmental organizations and advisory institutions in the last fifteen years. Various indicators and methodologies are subject of polemics that often reflect viewpoints of institutions and individuals respectively. Most of these approaches have two common characteristics, namely, they measure globalization results and are mainly based only on a very general definition of globalization. This paper introduces the systemic approach towards measuring globalization of economy, which is based upon the theoretical comprehension of national competitiveness and economic growth. The main purpose of such approach is to emphasize the importance of holistic view on a globalized economy. Thus, the significance of measuring globalization of economy is to get the information not only on the position but also on the potentials of economy for international integration. In the empirical part of the paper, the composite indicator of globalized economy is developed by the principal components analysis. Then the ordinary least squares and panel regression analyses confirm the hypothesis that globalized economies achieve higher long-term cumulative economic growth.