O zdravstvu iz ekonomske perspektive

Knjiga O zdravstvu iz ekonomske perspektive nastala je nakon dvogodišnjeg rada šireg tima ekonomista okupljenih oko projekta analize zdravstvenog sustava popularnog naziva „Krvna slika zdravstva Hrvatske“. Inicijativu za ovaj projekt pokrenuo je mjesečnik Banka kojem je Ekonomski institut, Zagreb bio partner u organiziranju šest tematskih javnih okruglih stolova tijekom 2012. godine. Istraživački rezultati ekonomista koji su sudjelovali u javnim raspravama nalaze se u ovoj knjizi i služe zdravstvenoj i ostaloj stručnoj te cjelokupnoj zainteresiranoj javnosti za bolje razumijevanje ekonomske argumentacije o financiranju zdravstva, zdravstvenom osiguranju, zdravstvenoj potrošnji, pitanjima efikasnosti u zdravstvu, utjecaju percepcija korisnika zdravstvenih usluga na njihovu kvalitetu, kao i važnosti ekonomskih evaluacija u donošenju zdravstvenih odluka. Ona predstavlja tek malen, ali nadamo se, vrijedan pokušaj za bolje razumijevanje zdravstva iz ekonomske perspektive

Self-employment of the young and the old: exploring effects of the crisis in Croatia

Ekonomska i financijska kriza koja je poharala Europu 2008. godine različito se odrazila na pojedine skupine stanovništva. Rast nezaposlenosti posebno je zabilježen kod mladih, a kod starijih radnika mnogi koji su zbog krize ostali bez posla nisu bili u mogućnosti ponovno pronaći zaposlenje. Stoga se kao opcija za aktivno sudjelovanje u svijetu rada za obje skupine javlja samozapošljavanje. Ovaj rad je posvećen upravo istraživanju samozapošljavanja ovih dviju skupina u zemlji koja je zabilježila jednu od najvećih i najdugotrajnijih posljedica krize – Hrvatskoj. Osnovni cilj je istražiti razlike u tranziciji ka samozaposlenosti mladih i starih, u razdoblju prije i tijekom krize, razmatrajući dva odvojena procesa: (i) samozapošljavanje iz nužde (kojem prethodi stanje nezaposlenosti) i (ii) samozapošljavanje zbog prilike (kojem prethodi stanje zaposlenosti). Istraživanje je provedeno temeljem EU podataka Ankete o radnoj snazi. Osnovni rezultati pokazuju da samozapošljavanje iz nužde dominira za obje dobne skupine, pri čemu je posebno izraženo za starije, dok je samozapošljavanje zbog prilike donekle izraženije kod mlađe populacije. Međutim, kriza negativno utječe na oba tipa samozapošljavanja. Dekompozicija jaza – primjenom Fairlie i Blinder-Oaxaca metodologije – pokazuje da se jaz u slučaju samozapošljavanja zbog nužde između ove dvije podskupine tijekom krize povećava, dok se u slučaju samozapošljavanja zbog prilike taj jaz smanjuje. Dodatno ispitivanje prediktora važnih za utvrđivanje hoće li mlada nezaposlena osoba postati samozaposlena ili zaposlenik tijekom razdoblja krize pokazuje da se zajedničke karakteristike odnose na udio zaposlenih odraslih osoba i udio djece u kućanstvu.The economic and financial crisis that erupted in Europe in 2008 hit some groups of the population harder than others. Young population was among those that experienced the largest increase in unemployment, whereas many of those belonging to the older working-age group, after experiencing a loss of their jobs, were unable to return to employment. Hence, one of the options for both of these groups was to seek self-employment solutions. This paper focuses precisely on transitions into self-employment of these two end-groups among the working-age population in a country that experienced one of the longest and largest setbacks during the recent recession – Croatia. The main goal of the paper is to establish differences in transition to self-employment of the young and the old before and during the crisis by distinguishing between two types of transitions: (i) out of unemployment or “necessity self-employment” and (ii) out of employment or “opportunity self-employment”. The data source used for the analysis is EU LFS. Main results suggest that necessity self-employment is dominant for both groups, and especially so for the old, whereas opportunity self-employment is slightly more pronounced in the case of the young population. However, both necessity and opportunity self-employment have decreased in the crisis period. Decomposition analyses – Fairlie and Blinder-Oaxaca – indicate that the gap between the old and the young has increased in the case of necessity self-employment while it decreased for opportunity self-employment between the two observed periods. Further examination of the characteristics of unemployed youth that became self-employed or employed during the crisis reveals that the only common characteristics that increase both the probability of self-employment as well as the probability of employment are the share of working adults and the share of children within a household

What drives youth unemployment in Europe?

This article explores the main determinants of youth unemployment rates in Europe in the period 2002‐2014, by estimating panel data models on a unique dataset for 28 EU member countries. Taking into account heterogeneity among EU countries, models are also estimated on two different subsamples: high and low youth unemployment rate. The results suggest that for better understanding of the determinants of youth unemployment in Europe it is not only relevant to focus on traditional macroeconomic variables, but it is also important to consider different structural and institutional factors. Hence, main empirical results suggest that youth unemployment in the EU is more pronounced in countries with poor GDP growth, low share of construction and high public debt. Low share of temporary employment and high perceived corruption also matter. Less mobility due to homeownership, high remittances from abroad, low work intensity of other household members or less possibilities for young people to live outside parental homes are also meaningful, at least for EU countries with comparatively high youth unemployment rates. These results could be of high importance, especially when determining and evaluating different measures taken in order to mitigate (high) youth unemployment rates in Europe

THE DEVELOPMENT OF DATABASE MARKETING: DOES CONSUMER INFORMATION PRIVACY MATTER?

Consumer concerns for information privacy (CFIP) have become an important strategic issue for companies. In order to be successful companies develop consumer databases and use consumer information to develop customized products and services, and target potential consumers more effectively. However, the intensity and the volume of direct marketing communications, and the potential misuse of consumer personal data contribute to an increase in CFIP. As a result, consumers might protect their privacy, which may inhibit the growth of database marketing, direct marketing and e-commerce as well. The purpose of this paper is to examine and present the antecedents and consequences of CFIP in the context of database marketing. This paper introduces a theoretical model that examines the impacts of consumer attitudes towards database marketing on CFIP, and the effects of CFIP on willingness to provide information, purchase intentions and consumer purchases. The model posits that perceived ability to control information might alleviate the effects of unfavourable consumer attitudes towards database marketing on CFIP, while perceived usefulness of IT might reduce negative effects of CFIP on willingness to provide information, purchase intentions and actual purchases. Managerial implications are discussed in the paper

Tougher Than the Rest? Relationship between Unemployment and Crime in Croatia

U ovom radu analizira se veza između nezaposlenosti i kriminala. Korišteni su podaci za 20 hrvatskih županija od 1998. do 2013. godine kako bi se procijenio učinak nezaposlenosti na stope različitih imovinskih i nasilnih kaznenih djela. Prema teoriji ekonomike kriminala, veća nezaposlenost vodi do viših stopa kriminala. Procijenjen je model s fiksnim učincima uključujući kontrole za vremenske i županijske specifičnosti te niz kovarijata. Rezultati pokazuju da nema utjecaja nezaposlenosti na agregatnu razinu imovinskih kaznenih djela. Za nasilna kaznena djela, izuzev kaznenog djela silovanja, rezultati su obrnuti od teorije i intuicije. Neočekivani rezultati diskutirani su u specifičnom hrvatskom makrokontekstu.In this paper, the relationship between unemployment and crime is analysed. A panel of 20 Croatian counties over the years 1998-2013 is used to estimate the effect of unemployment on the rates of various groups of property and violent crimes. According to the theory of economics of crime, increase in unemployment leads to higher crime rates. A fixed-effects model, including time- and county-specific effects and several covariates, is estimated. The results show there is no impact of unemployment on aggregate property crimes. For all violent crimes bar rapes, the results oppose the theory and intuition. The unexpected results are discussed in the context of the Croatian-specific macro-environment

Public vs. private sector wage skill premia in recession: Croatian experience

Privatni sektor u Republici Hrvatskoj u većoj je mjeri bio zahvaćen učincima posljednje gospodarske krize u odnosu na javni sektor. Pitanje je u kojoj mjeri su razlike u plaćama posljedica strukture poslova u javnom sektoru, u kojem se traže specifične vještine i posljedično više plaćaju u odnosu na privatni sektor. Iz tog razloga se u radu analiziraju odvojeno plaće u javnom i privatnom sektoru tijekom razdoblja 2008.–2014. Za svaki sektor se analizira jaz plaća koji nastaje kao posljedica specifičnih vještina, pri čemu se identificiraju tri skupine vještina: prve se odnose na poslovne zadatke koji u povezani s rješavanjem apstraktnih problema i upravljanjem; druge se odnose na pretežno rutinske poslovne zadatke; i treće se odnose na pretežno manualno‐intenzivne radne zadatke. Poseban naglasak u radu stavljen je i na mlade zaposlene (do 30 godina starosti), iz dvaju razloga. Prvi se odnosi na posebno izražene negativne učinke krize na ishode na tržištu rada mladih u cijeloj Europskoj uniji. Hrvatska sa stopom nezaposlenosti mladih od 45,5 posto (za dobnu skupinu 15–24) u 2014. godini nije izuzetak. Drugi razlog je postojanje specifične mjere aktivne politike zapošljavanja kojoj je namjera bila uključivanje mladih ljudi u svijet rada putem programa stručnog osposobljavanja u subvencioniranom iznosu otprilike jednakom minimalnoj plaći. Pitanje koje se postavlja: utječe li popularnost te mjere na uobičajeno funkcioniranje tržišta rada i kanaliziranje mladih u određena zanimanja.Recent crisis in Croatia has more adversely affected private than public sector workers. However, the question is whether the pay schemes are more related to the nature of jobs in the public sector, where certain skills are in demand and consequently paid more than in the private sector. To shed some light on this issue, wages during the period 2008–2014 have been analysed in two sectors separately. For each sector wage skill premium was assessed by classifying workers into three skills groups: the first is related to abstract problem solving and organizational tasks, the second is relatively more routine‐task intensive, while the third is primarily manual-task intensive. Additional emphasis is placed on the young workers (up to age 30). There are two reasons for this. The first is related to the adverse effects recent recession had on youth labour market outcomes throughout the European Union. Croatia, with the youth unemployment rate of 45.5 percent (age group 15–24) in 2014 is no exception to this problem. The second reason is related to the question of a specific active labour market policy (ALMP) measure design for inclusion of young people in the labour market by offering them internship/traineeship subsidized in the amount of an approximately minimum wage. The question remains whether such measure channels young workers into certain jobs and disrupts normal labour market competition due to its wide popularity

CORRUPTION IN PUBLIC PROCUREMENT: DO WE NEED A NEW RESEARCH MODEL FOR CROATIA?

U radu se ispituju korupcijski rizici u javnoj nabavi u Hrvatskoj. Istraživanje je motivirano dilemom koliko je EU članstvo doprinijelo suzbijanju korupcije u javnoj nabavi budući da suzbijanje korupcije u Hrvatskoj otkako je članica EU pada u drugi plan, a interes za javne nabave raste u kontekstu ekonomskih neravnoteža i nove europske regulative. Cilj analize je postaviti okvir za istraživanja korupcije u javnoj nabavi u Hrvatskoj. Pregledom relevantne literature i postojećih istraživanja utvrđeno je da njihov fokus ne odgovara specifičnostima javnih nabava u Hrvatskoj. U radu se iznose argumenti da načela javne nabave i EU regulativa nisu dovoljno jamstvo za suzbijanje specifičnih korupcijskih rizika u Hrvatskoj. Formalni propisi u prilog ekonomski najpovoljnije ponude, centralizirane nabave ili e-nabave neće dokinuti zloporabe u sustavu javnih nabava. Zaključno se potvrđuje potreba za novim modelom istraživanja korupcije u javnoj nabavi koji će uvažiti specifičnosti primjene u hrvatskom kontekstu. Rad uz preporuke politike donosi smjernice za buduća istraživanja.The paper examines corruption risks in public procurement in Croatia. The study was motivated by the dilemma of how EU membership contributed to fighting corruption in public procurement in Croatia since the anti-corruption momentum after joining the EU was lost, while there is a growing interest in public procurement in the context of economic imbalances and the new EU regulations on public procurement. The objective of the analysis is to establish a new research framework to assess corruption in public procurement in Croatia. A review of relevant literature and existing research indicate that their focus does not match the particularities of public procurement in Croatia. In the paper we argue that an effective suppression of specific corruption risks in Croatia is not guaranteed by the principles of public procurement and EU regulations. The misuse in the system of public procurement will not be eliminated by formal regulations in favour of the most economically advantageous offer, centralized procurement, and e-procurement. In conclusion, findings confirm the need for a new model of research of corruption in public procurement, which would take into account the specifics of implementation in Croatian context. The paper offers policy recommendations and provides lines for future research

Exploring consumers’ food-related decision-making style groups and their shopping behaviour

The purpose of this research is to develop consumer typology, classify consumers by using food-related decision-making styles and link the resulting typology with consumer shopping behaviour. A modified Sproles and Kendall’s CSI instrument was used to identify decision-making styles in food-product context in Croatia. The data obtained from the survey was analysed using factor, cluster and ANOVA analyses. Three groups of consumers were identified: Recreational, Novelty-driven and Economic consumers. The study confirms that food-related consumers’ decision-making (CDM) styles can be used for market segmentation. Significant differences among groups were found for monthly food expenditure, expenditure at main retailers and expenditure on major trips. Marketers should take into account the characteristics of the identified groups while developing marketing programmes

Modern aspects of capital markets

Ovaj rad sistematizira suvremene promjene iz okruženja tržišta kapitala. Cilj je rada pregledno prikazati teorijska i empirijska istraživanja koja obrađuju promjene vlasništva i deuzajamnizaciju burza, kontinuirane tehnološke inovacije, inicijative za promjenu i uklanjanje regulacije te rast konkurencije. U radu se primjenjuju deduktivno logička metoda te metode kompilacije, sinteze i klasifikacije. Analiza relevantnih istraživanja pokazala je da je transformacija vlasničke strukture jedan od ključnih pokretača promjena, s obzirom na to da su se burze od monopola pretvorile u konkurentna poduzeća. Tehnološke inovacije promijenile su trgovinske platforme burza i omogućile prevladavanje geografskih udaljenosti, olakšale međusobnu komunikaciju tržišta kapitala te izrazito smanjile transakcijske troškove, što je potaknulo razvoj konkurencije. Poticaj razvoju konkurencije pripisuje se i deregulaciji, samoregulaciji i, u slučaju tržišta kapitala zemalja članica Europske unije, harmonizaciji regulacije. Rezultati istraživanja pokazuju da su navedeni poticaji iz okoline svjetskih tržišta kapitala potaknuli promjene na tržištima kapitala te utjecali na njihovu orijentaciju prema međusobnom prekograničnom povezivanju.This paper summarizes modern aspects of the capital market environment. The aim is to provide an extensive overview of theoretical and empirical studies which analyse changes in the ownership and demutualisation of stock exchanges, ongoing technological innovations, initiatives for changing and eliminating regulation, and increase in competition. For this purpose, the author employs deductive-logical methodology, compilation, synthesis and classification. An analysis of the relevant research showed that transformation of ownership was one of the key drivers of the capital market environment, changing stock markets from monopolies to competitive companies. Technological innovations changed trading platforms and overcame geographical distances, eased communication and cut transaction costs, which encouraged the development of competition overall. Competitive forces have also been spurred by changes in regulation, in particular by deregulation, self-regulation and, in the case of EU capital markets, harmonisation of regulation. The results of the research showed that these modern aspects of capital markets have led to significant changes in the industry, and directed capital markets towards overseas mergers and cooperation

Analysis of the Difference in Wages between the Public Sector, State-Owned Enterprises and the Private Sector in Croatia in the Period 2000-2012

U članku se uspoređuju stanje i kretanje neto plaća po satu rada u javnom sektoru, poduzećima u državnom vlasništvu i privatnim poduzećima u Hrvatskoj na temelju podataka iz Ankete o radnoj snazi u razdoblju 2000.-2012. Rezultati pokazuju da je 2000. godine prosječna plaća u javnom sektoru bila gotovo 40 posto veća nego u privatnom, ali da se ta razlika smanjila na oko 25 posto u 2008. i 2012. Razlika između poduzeća u državnom vlasništvu i privatnih poduzeća nešto je manja – 18 posto u 2012. Detaljnija kvantitativna analiza koja je koristila regresijske ocjene i Oaxaca-Blinderovu metodu dekompozicije, pokazuje da je prilagođeni jaz plaća – razlika u plaćama korigirana za međusektorske razlike u karakteristikama radnika i radnog mjesta – znatno manji nego jaz mjeren usporedbom prosječnih plaća. Regresijska analiza pokazuje da je prilagođena premija u korist javnog sektora, u odnosu na privatni, 2000. godine iznosila 18 posto, a tijekom promatranog razdoblja kontinuirano se smanjivala te je 2012. iznosila 5 posto.This article compares the state and developments in net hourly earnings in the public sector, state-owned enterprises and private enterprises in Croatia based on the Labor Force Survey data for the period 2000-2012. The results show that the average wage was almost 40 percent higher in the public than in the private sector in the year 2000, but this difference was reduced to about 25 percent in 2008 and 2012. The wage gap between state-owned enterprises and private enterprises was somewhat smaller – 18 percent on average in 2012. Further quantitative analysis using regression estimates and the Oaxaca-Blinder decomposition method shows that the adjusted wage gap – the wage difference corrected for inter-sectoral differences in the characteristics of workers and the workplace – is significantly lower than the gap measured by the average wage comparison. The regression analysis shows that the adjusted wage premium in the public sector, compared to the private sector, was 18 percent in 2000. It was continuously decreasing in the observed period to reach 5 percent in 2012