Austerity policies, economic growth and fiscal balance: lessons from Slovenia

The authors investigate the impact of austerity policies by empirically analysing the crowding out effect, the Ricardian equivalence principle, and the effect of domestic competitiveness on economic growth in Slovenia. Using the narrative method, the authors researched determinants of economic growth and the impact of fiscal policies on the empirical relationship between state debt and economic growth. The authors show that Slovenia has executed austerity measures over short time periods only, and argue that one cannot find convincing evidence that the enacted austerity policy created the theoretically and empirically expected effects. The authors show that the revival of economic growth was independent of enacted austerity policies. Such economic growth has also benefitted the general budget balance and fiscal position of Slovenia

Firm growth types and key macroeconomic aggregates through the economic cycle

The paper investigates the role and impact of different groups of firms according to their growth type on macroeconomic aggregates at various stages of the economic cycle based on the entire population of firms in Slovenia. The applied classification of growing and fast-growing firms is based on microeconomic theory. Results exhibit that despite larger year-to-year fluctuations, firms with growth towards their long-term equilibrium contributed most to macroeconomic aggregates, i.e. employment, capital and sales, especially in times of economic prosperity. Firms with growth that shifts them closer to their short-term equilibrium proved to be more important primarily for assuring employment stability. Furthermore, we show that using single growth measures prevents us from identifying all growing firms and capturing the true contribution of particular growth groups of firms to studied macroeconomic aggregates. The paper provides both theoretical and empirical information for managers for designing different types of firm growth and enables policy makers to adopt adequate industrial policy measures

Interorganizational employee mobility: A bibliometric analysis

This paper provides a comprehensive overview of the phenomenon of interorganizational employee mobility, 55 defined as a movement of employees between the source and destination organizations that goes beyond simple turnover behaviour. We use a bibliometric analysis approach that applies quantitative and statistical methods to bibliographic data to deepen our objective understanding of how research on interorganizational employee mobility has evolved over time and to examine whether interorganizational employee mobility is multilevel in nature. The results of the performance analysis and various science mapping methods (co-authorship analysis, co-citation analysis, bibliographic coupling, and co-word analysis) reveal clustered networks of key contributors in the field (i.e., authors, journals, affiliations, countries). Authors from the field of management, mainly from the USA and Western European affiliations, dominate the field. However, few of them have more than one publication on the topic of interorganizational employee mobility, which indicates that the literature in the field is still scattered and not yet mature. Our findings contribute to the career development literature by providing a detailed insight into how career has changed over time and highlighting the main constructs and factors associated with individual decisions to change employers

Is Value-Based Health Care Just the Latest Fad or can it Transform the Slovenian Health Care System?

You get what you pay for is a very old saying, originating from England in the mid-to late 1800s. However, despite being in use for more than two centuries, its meaning is still not fully grasped in Slovenian healthcare. While we claim that the healthcare system serves the patient and that the care provided is patient-centred, we do not even measure the treatment outcomes that matter to patients. Without measuring these, we do not know whether the treatment provided value to the patients, i.e. what were the benefits of the treatment relative to the costs. Slovenian payment models do not reimburse the providers for created patient-relevant value, but rather for the planned number of services or cases based on average incurred costs. It is thus time to digitalise the system, and start collecting, curating and analysing the relevant data to ensure that all stakeholders within the healthcare system co-deliver value to patients. While relevant stakeholders highlight notable challenges of implementing value-based healthcare in Slovenia, these are far from insurmountable

Interorganizational employee mobility: A bibliometric analysis

This paper provides a comprehensive overview of the phenomenon of interorganizational employee mobility, 55 defined as a movement of employees between the source and destination organizations that goes beyond simple turnover behaviour. We use a bibliometric analysis approach that applies quantitative and statistical methods to bibliographic data to deepen our objective understanding of how research on interorganizational employee mobility has evolved over time and to examine whether interorganizational employee mobility is multilevel in nature. The results of the performance analysis and various science mapping methods (co-authorship analysis, co-citation analysis, bibliographic coupling, and co-word analysis) reveal clustered networks of key contributors in the field (i.e., authors, journals, affiliations, countries). Authors from the field of management, mainly from the USA and Western European affiliations, dominate the field. However, few of them have more than one publication on the topic of interorganizational employee mobility, which indicates that the literature in the field is still scattered and not yet mature. Our findings contribute to the career development literature by providing a detailed insight into how career has changed over time and highlighting the main constructs and factors associated with individual decisions to change employers

Triggers of different types of firm growth

Authors define and explain firm growth as its transition from current position to short-term or long-term equilibrium motivated by profit maximisation. They allocate growing firms into six groups according to their growth type based on different dimensions of firm growth, i.e. growth of labour, growth of capital, growth of the volume of business, and growth of profit. Given that the typology of growing firms employed for the purpose of this paper is based on micro-economic theory, the triggers and their hypothesized relevance in explaining short-term and long-term growth patterns are also grounded in microeconomic theory. Accordingly, the authors study growth triggers in the form of the firm\u27s technical and allocative (in)efficiency, its disequilibrium market position within a respective industry and the industry\u27s market position relative to other industries. They thus assume that firm growth is either based on the utilization of firm\u27s internal resources or is a result of favourable market conditions and hypothesize that the probability of a firm belonging to a particular type of growth is explained (i) with firm\u27s internal efficiency, (ii) those market conditions that can be altered by the decisions adopted by management and (iii) those market conditions that are independent from the actions of management. The authors explore these triggers of three types of short-term growth, long-term growth, unsuccessful growth and downsizing, using data for 41,529 Slovenian firms in the 2007e2012 period. Results show that firm growth in Slovenia exhibits theoretically expected links between growth types and their triggers and also have relevant managerial implications

The Eurozone’s influence on the cyclical macroeconomic performance

This paper analyses the impact of cyclical external shocks on the macroeconomic performance of Eurozone and EU member countries. The latter is achieved through a comparative study of two EU countries, Slovenia and Croatia, of which only the former is a Eurozone member state. Cross-country differences are observedover the 2000-2018 period, thus covering all stages of the economic cycle. The primary hypothesis is that the Eurozone economic integration provides its members with comparably greatermacroeconomic stability and balanced growth rates. The researchelaborates on the possibilities and effects of more autonomousmacroeconomic adjustments tailored to the specific needs of non-Eurozone EU countries. Methodologically, the study exhibitsan intricate nexus among theoretical, empirical, and institutionaleconomics and shows that the impact of the country\u27s international interconnectedness, stemming from the economic andgeographical links, bears greater importance than Eurozone membership. Concurrently, this analysis confirms that whether theEurozone\u27s benefits outweigh the shortcoming of monetary sovereignty abnegation depends predominantly on the capabilities ofindividual countries and Eurozone\u27s institutions to design andexecute an effective monetary-fiscal policy mix