<abstract xmlns="http://www.w3.org/1999/xhtml">

The main aim of this paper is to examine the relationship between government consumption and aggregate output in five Nordic countries in two different scenarios: first, in periods when government consumption increases and, second, in periods when government consumption decreases. Therefore, the nonlinear ARDL model is applied to test for the presence of a short-run and long-run asymmetry in output response to government consumption. The key findings are as follows. First, based on the linear model, a positive connection between government consumption and economic activity has been confirmed, both in the short and long term, which is also in line with the predictions of economic theory. Second, based on the nonlinear model, six out of ten short-term coefficients are statistically significant, as are six out of ten long-term coefficients, with statistically significant asymmetry detected in four out of ten cases. Thus, estimated test statistics and graphical analysis suggest the presence of a negatively inclined asymmetry in the relationship between government consumption and the dynamic of aggregate output with stronger output response in periods when government consumption decreases.
</abstract>

What is the Nature of the Dynamics between Government Spending and Aggregate Output in the Nordic Countries?

<abstract xmlns="http://www.w3.org/1999/xhtml">

This research is concerned with the comparative analysis of competitive trade within the cluster market economies of the European Union. The aim of this paper is to carry out trade analysis within the competing countries in the European market from 2009 to 2018 which represents the period after the global crisis of 2008 and prior to the Covid-19 pandemic of 2019 for the purpose of determining the extent of competitive trade within the European economies. The chosen metric is Béla Balassa’s Revealed Comparative Advantage (RCA) index used for determining various countries’ comparative advantage or disadvantage in trade. The findings show that the countries with RCA > 1 thrive economically in comparison to other competing lower economies. And the fact that the European Union economy thrives on mechanized trade other than agricultural products irrespective of the competitive market. This study is a significant contribution towards improving the Ricardian model of comparative advantage on trade within a cluster market in the European economies.
</abstract>

A Comparative Analysis of Competitive Trade in a Cluster Market of the European Union: The Revealed Comparative Advantage (RCA) Index

<abstract xmlns="http://www.w3.org/1999/xhtml">

This paper is a contribution to the body of research examining the impact of macroprudential policy instruments on financial stability. The following hypothesis was tested (H1): Macroprudential policy instruments (household borrowing costs; interbank loans as a percentage of total loans; loan to deposit ratio; leverage ratio; and solvency ratio) enhance financial stability, as measured by credit growth, in four southern European economies (Greece, Italy, Portugal and Spain) from Q4 2010 to Q4 2018. The empirical results of this study suggest that, of the investigated macroprudential policy instruments, household borrowing costs, interbank loans as a percentage of total loans and loan to deposit ratio exhibit the predicted impact on credit growth rate. Leverage ratio and solvency ratio do not exhibit the expected impact on the response variable. Moreover, only three out of the five explanatory variables are statistically significant in the model. Consequently, it is not possible to confirm or reject the hypothesis based on the available data and results.
</abstract>

PhD Candidate at the University of Maribor

The Impact of Macroprudential Policy Instruments on Financial Stability in Southern Europe

<abstract xmlns="http://www.w3.org/1999/xhtml">

The aim of this study is to test and compare the efficient market hypothesis, in its weak form, on the stock markets of Botswana, Egypt, Kenya, Morocco, Nigeria, South Africa, Japan, the UK and the USA from 2 September 2019 to 2 September 2020. This study is based on the following research question: has the global pandemic (COVID-19) reduced the efficiency – in its weak form – of African financial markets compared to the mature markets of the UK, Japan and the USA? The results sustain the evidence that the random walk hypothesis is not supported by the financial markets analysed in the period of the global pandemic. The variance ratio values are lower than the unit, which implies that the returns are self-correlated over time. A reversion to the average is also observed, with no differences identified between mature and emerging financial markets. In corroboration, the Detrended Fluctuation Analysis (DFA) exponents show that the financial markets present signs of (in)efficiency in its weak form, thus showing persistence in the yields. This therefore implies the existence of long memories validating the results of the variance using the Wright’s Rank and Signs Test (2000), which prove the rejection of the random walk hypothesis.
</abstract>

Are African Stock Markets Efficient? A Comparative Analysis Between Six African Markets, the UK, Japan and the USA in the Period of the Pandemic

<abstract xmlns="http://www.w3.org/1999/xhtml">

The appropriate application of statistical methods in enterprises should have an important role in business decision-making processes. However, Croatian enterprises still tend to have certain resistance to statistical methods. The new challenges introduced by the COVID-19 pandemic emphasised the importance of conducting statistical analyses as support for making business decisions. In order to investigate the situation and attitudes towards the use of statistical methods, primary research was conducted in the form of a web survey on a sample of 768 Croatian enterprises, of which 40% use statistical methods in their business. The research revealed the level of statistical methods use in Croatian enterprises, demonstrated which statistical methods Croatian enterprises prefer, and defined who is most responsible for their use. Furthermore, the reasons for the use of statistical methods and the major obstacles to the use of more intensive statistical methods were also investigated. The results are described and discussed on an overall level and by considering the size of the enterprises.
</abstract>

The Use of Statistical Methods in Croatian Enterprises During the Early Stages of COVID-19

<abstract xmlns="http://www.w3.org/1999/xhtml">

The paper addresses the issue of complexity in the administrative processes of public institutions: in particular, accounting routines and processes are examined. Back-office activities, although having a mere supporting role in the delivery of public services, absorb a relevant part of the resources of public institutions. The aim of the paper is to analyse the factors that contribute to the enhancement of complexity of these activities. The paper is based on an in-depth analysis of two Italian public organisations: a university and an ASP (agency for services to persons). Italy is an interesting context since simplification policies have been adopted in the country at central government level and in specific sectors of public administration, however, at the institutional level, simplification initiatives depend on the initiative of the single organisation. The cases described in this paper show that complexity stems from the need for inspectory controls (which is typical of the law) as well as from the volume of information requested (which is typical of management studies) for different stakeholders and at different, yet correlated, levels. The paper suggests that public management scholars have the opportunity and the burden of a contribution in this field.
</abstract>

The Simplification of Public Administration: A Managerial Perspective

AHEAD OF PRINT

Volume 70 (2024): Issue 1 (March 2024)

Volume 69 (2023): Issue 4 (December 2023)

Volume 69 (2023): Issue 3 (September 2023)

Volume 69 (2023): Issue 2 (June 2023)

Volume 69 (2023): Issue 1 (March 2023)

Volume 68 (2022): Issue 4 (December 2022)

Volume 68 (2022): Issue 3 (September 2022)

Volume 68 (2022): Issue 2 (June 2022)

Volume 68 (2022): Issue 1 (March 2022)

Volume 67 (2021): Issue 4 (December 2021)

Volume 67 (2021): Issue 3 (September 2021)

Volume 67 (2021): Issue 2 (June 2021)

Volume 67 (2021): Issue 1 (March 2021)

Volume 66 (2020): Issue 4 (December 2020)

Volume 66 (2020): Issue 3 (September 2020)

Volume 66 (2020): Issue 2 (June 2020)

Volume 66 (2020): Issue 1 (March 2020)

Volume 65 (2019): Issue 4 (December 2019)

Volume 65 (2019): Issue 3 (September 2019)

Volume 65 (2019): Issue 2 (June 2019)

Volume 65 (2019): Issue 1 (March 2019)

Volume 64 (2018): Issue 4 (December 2018)

Volume 64 (2018): Issue 3 (September 2018)

Volume 64 (2018): Issue 2 (June 2018)

Volume 64 (2018): Issue 1 (March 2018)

Volume 63 (2017): Issue 4 (December 2017)

Volume 63 (2017): Issue 3 (September 2017)

Volume 63 (2017): Issue 2 (June 2017)

Volume 63 (2017): Issue 1 (March 2017)

Volume 62 (2016): Issue 4 (December 2016)

Volume 62 (2016): Issue 3 (September 2016)

Volume 62 (2016): Issue 2 (June 2016)

Volume 62 (2016): Issue 1 (March 2016)

Volume 61 (2015): Issue 6 (December 2015)

Volume 61 (2015): Issue 5 (October 2015)

Volume 61 (2015): Issue 4 (August 2015)

Volume 61 (2015): Issue 3 (June 2015)

Volume 61 (2015): Issue 2 (April 2015)

Volume 61 (2015): Issue 1 (February 2015)

Naše gospodarstvo/Our economy

 Naše gospodarstvo/Our economy – Journal of Contemporary Issues in Economics and Business (NGOE) is a quarterly, double-blind peer reviewed international scientific journal, focusing on economics and business sciences. Scientific articles and review papers provide new insights into the research topics of both disciplines. The journal aims to provide a venue for high quality theoretical and empirical articles that significantly contribute to the disciplines of economic and business sciences.   NGOE promotes particularly the publication of articles that address issues in the following areas of economics and business sciences: Business Economics, Economic Growth and Development, Economic Policy, Economic Theory, Econometrics and Statistics, Financial Economics, History of Economic Thought, International Economics, Labour Economics, Political Economy, Public Finance, Social Policy, Social Economics, Sustainable Economics, Accounting, Auditing, Banking and Finance, Change Management, Corporate Law, Corporate Social Responsibility, Crisis Management, Decision Making, Education Management, Entrepreneurship, Ethics in Business, Health Management, Human Resource Management, Information Management, Innovation Management, International Business, Logistics and Supply Chain Management, Marketing, Operations Management, Organizational Behaviour, Organizational Development, Portfolio Management, Product Development Management, Production Management, Project Management, Public Administration, Risk Management, Services Management, Strategic Management, Systems Theory, Taxation, Tourism Management, Sustainable Business.   Why Subscribe and Read   The articles published in NGOE aim to synthesise and integrate the advanced knowledge of economics and business research, to promote the enrichment and integration of ideas among the areas of economics and business sciences.   Why Submit   Published continuously since 1955, NGOE is moving towards higher publication standards and we have taken important steps towards reaching global readership. We maintain a rapid review and publication process. The double-blind peer review process takes between five and seven weeks on average.   Publication Charges   There is no article processing charges (APC) nor article submission charges.   Peer review process   The aim of the peer review process is to ensure that high-quality and original research is published. All articles published in the Journal of Contemporary Issues in Economics and Business Naše gospodarstvo/Our Economy (NGOE) are peer-reviewed and all papers submitted follow the procedure outlined below.   Initial paper evaluation   All papers submitted for publication consideration in NGOE are first evaluated by the Editor-in-Chief. Papers which fall outside the aims and scope of the journal or fail to meet the requirements of a scientific research will either be rejected at this initial point or returned to the author for revision. Papers are never accepted by the Editor-in-Chief without the reports of two reviewers, at least.   Plagiarism checking   Papers that pass the initial evaluation stage are subject to a similarity/plagiarism scanning by using a plagiarism screening program. Any paper with a similarity percentage (excluding references) greater than 25 % will be rejected. Manuscripts that pass the initial evaluation stage and have a similarity rate below 25 % proceed to the referee process. All submitted papers are subject to anti-plagiarism control in the iThenticate system.   Peer review   NGOE employs double-anonymous reviewing, where both the referee and author remain anonymous throughout the process.   Instructions for reviewers   The primary objective of the reviewer's evaluation is to provide sufficient and unambiguous answers to the following questions and also recommendations for possible changes and improvements to the paper:    does the title match the subject of the paper and does the subject of the paper correspond with the area of interest of the journal (according to "Aims and Scope"),   is the Abstract correct, i.e. short but presenting the main results of the researches and conclusions based on these results,   does the Introduction present the subject and the objective of the researches correctly,   are the implemented methods used properly and is the research material sufficient,   are the results described, analyzed, commented on and presented correctly, without repetitions of data in tables and diagrams,   is the discussion presented correctly, based on actual knowledge and with the use of properly chosen scientific literature (as recent as possible),   do the conclusions generalize the obtained results and provide recommendations, which are appropriately prepared on the basis of results and are not merely the repetition of those results,   does the paper introduce new and interesting information and does it have sufficient impact and add to the knowledge base.    The formal evaluation of the paper should include answers to the following questions:    whether the layout and contents of tables and graphs is readable and convenient for recipients   is the information in tables not repeated in graphs and vice versa,   are there no reservations about the length of the paper, its linguistic correctness, the method of citation of the literature and usage of units, etc.?    Reviewers' evaluation   Papers are sent to at least two reviewers assigned by the Editor-in-Chief or Co-editor. The reviewers are chosen according to their expertise. Reviewers are asked to evaluate the manuscript’s originality, methodology, contribution to the literature, presentation of results and support for the conclusions, and appropriate referencing of previous relevant studies. Reviewers may either recommend accepting the manuscript, rejecting the manuscript or may require a revision for content and/or technical issues. When making a final recommendation, the reviewers should clearly state whether the paper is suitable for publication in journal. In the case of a positive answer, the reviewers indicate whether:    it might be accepted without changes,   it might be accepted after minor changes, suggested by the reviewer in the manuscript or in his/her opinion,   it might be accepted after major changes (please indicate them).    The detailed evaluation criteria are outlined in the Paper Review Form.If the reviews are positive they are sent for the reviews to the corresponding author. For a paper to be accepted for publication, two positive reviews are required. In case one reviewer's report is negative while the other is positive, the paper is forwarded to a third reviewer for additional evaluation. When a revision is required by the reviewer, the author(s) are to consider the critical observations and suggestions offered by the referees, and a revised paper should be submitted within a set deadline, otherwise it will be assumed to have been withdrawn. Reviewers may request more than one revision of a paper.   Final evaluation   Based on the corrected versions of the paper and the answers to the reviews the Editors take the final decision as to whether to publish the paper or not.Proofs are sent to the corresponding author and should be returned within the set deadline.Every year a list of Reviewers collaborating with the Editors of the NGOE is shown on the Journal's website when all four issues of the journal have been sent to print.   The data on society or institution responsible for the journal and the country where it is based:   University of Maribor, Faculty of Economics and Business, Slovenia     Publication Frequency   NGOE is published quarterly.   Plagiarism Prevention Policy   Original unpublished scientific papers which have not been submitted for publication elsewhere can be submitted to NGOE. The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process.   Archiving   Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections. 