Open-end investment funds in Croatia

This work discusses investment funds in Croatia, with a particular emphasis on openend investment funds. After a short review of the development of the funds, the perception of the funds is analysed, as are the trends in total assets and in average yields. The degree of concentration of open-end investment funds is shown with statistical measures of concentration (the Gini Coefficient, the Lorenz Curve and concentration ratios). All these indicators show that the concentration is moderate to strong. The greatest yields are given by the equity funds, but these are also the most risky.investment funds, open-end investment funds, bond fund, equity fund, mixed fund, money fund, Gini coefficient, Lorenz curve, Croatia

Technological progress in Croatian non-perennial agriculture

Croatian agriculture stagnates over the last quarter of the century. Although it is heavily subsidized and the investment in mechanization was high, Croatian agriculture did not improve its production level, not even after the accession to the European Union. The project of green and blue Croatia, which aim is to connect agricultural production and tourism, did not show significant results import substitution. In this paper nonperennial crops agriculture is analyzed since it forms more than 40% of total agricultural production in Croatia. In order to distinguish the contribution of capital, labour and total factor productivity, a CobbDouglas production function is estimated on a panel data set for Croatian non-perennial agriculture in the period of 2008 – 2014. It was discovered that production elasticities do not correspond to the shares of expenditures on labour and capital which is a common production function assumption. Also, it is shown that total factor productivity declines over time, a disinvestment and labour decline caused stagnation of this sector of Croatian economy. A further analysis is made to determine the impact of subsidies and export orientation on TFP and it is found that Croatian agricultural production is affected by export orientation and subsidies, but their impact is almost irrelevant.peer-reviewe