Growth Anatomy of Croatian Economy

Mirjana Cizmovic, Jelena Jankovic and Milenko Popovic ()
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Mirjana Cizmovic: Institute for Socio-Economic Analysis, Podgorica, Montenegro&Mediterranean University, Podgorica, Montenegro
Jelena Jankovic: Institute for Socio-Economic Analysis, Podgorica, Montenegro&Central Bank of Montenegro, Podgorica, Montenegro

Ekonomija Economics, 2015, vol. 22, issue 1, 159-216

Abstract: In this paper presented is research on anatomy of growth of Croatian economy in the period 1990-2013. Results of this analysis basically should be understood as a kind of growth diagnostic of Croatian economy. Conventional sources of growth analysis, which measure contribution of different factors of production, is given for growth of GDP and per capita GDP in relevant sub-periods. To get deeper understanding of results provided in this way, authors continue with analysis of sectorial side sources of growth. Further insights are provided by demand side sources of growth. Particular attention is, in that respect, devoted to analysis of net-export, capital formation and final consumption. Brief notions on institutional and other fundamental causes of growth are given as well. Policy recommendations for overcoming existing deadlock and acceleration of economic growth are only briefly discussed in concluding section of the paper.

Keywords: sources-of-growth; capital; labor; total-factor-productivity; net-export; terms of trade; real exchange rate (search for similar items in EconPapers)
JEL-codes: E32 F13 (search for similar items in EconPapers)
Date: 2015
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Working Paper: Growth Anatomy of Croatian Economy (2015)
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