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The empirical literature on credit risk is mainly based on modelling the probability of default, omitting the modelling of the loss given default. This paper is aimed to predict recovery rates on the rarely applied nonpa...

The paper analyses the contribution of different types of innovative entrepreneurship: new products entrepreneurship (NP), new technology development entrepreneurship (NT), high growth expectation entrepreneurship (...

This paper examines the causal relationship between interest rate differential (IRD) and international short-term capital flow (SCF) to determine whether such a relationship in China supports the Mundell-Fleming model. W...

The global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand ...

Online local budget transparency (OLBT) has been recognized as an important feature of good governance. Accordingly, in this paper, OLBT is measured in all 128 cities and a sample of 100 municipalities in Croatia using s...

The massive financial liberalization followed by accelerating financial globalization leaded to significant structural changes in the financial sector. Since financial institutions play a dominant role in functioning of ...

The purpose of this study is to analyse Zagreb Stock Exchange CROBEX Index reactions to selected macroeconomic announcements within ultra-short time intervals. We utilize 5-minute rates of returns from September 2...

The purpose of this paper is to analyse the structural and productivity changes of Central and Eastern European (CEE) countries. The research period covers the years following accession into the European Union,...

The traditional life cycle hypothesis believes that the aging of population will not only drag down the level of social savings, but also adversely affect economic growth. However, the human capital factor may change the...

The paper aims to examine Croatian import demand elasticities to changes in income and relative prices while allowing time variation in parameters of import demand. Data sample consist of quarterly time series...