Biographical Note. Evolution of an Economist

<abstract xmlns="http://www.w3.org/1999/xhtml"> Social media has phenomenally changed the communication landscape. Particularly social network sites have received enormous popularity and user acceptance globally. The business model of many social network sites is based on advertising. The survival of these social network sites depends on the user acceptance of advertising appearing on these websites. Users usually accept the advertising which is consistent with their motivations for using social network sites. The current study examines the underlying dimensions of entertainment motivation for using social network sites and their impact on user acceptance of social network advertising. Analysis of data from 450 university students show entertainment motivation for using social network sites a multidimensional (SNSs) construct consisting of enjoyment, social escapism, relaxation and pass time factors. Furthermore, the results exhibit that SNSs entertainment motivation partially impacts user acceptance of social network advertising.</abstract>

Impact of Entertainment Motivational Drivers on User Acceptance of Online Social Network Banner Advertising: A Gratification Perspective

<abstract xmlns="http://www.w3.org/1999/xhtml"> This paper examines the success of the European Union Emissions Trading System (EU ETS) in inducing cleaner production in the EU based on the first two trading periods. It fills a literature gap by constructing a measure of clean production and conducting an ex-post macro-level analysis of the EU ETS impacts in EU15 compared to EU12. Results of panel regression analysis robustly show that EU ETS in both EU12 and EU15 (i) has positive impact on clean production of regulated industries, (ii) does not induce spillovers of cleaner technologies and processes to non-regulated industries, and (iii) does not affect clean production at the national level. In addition, share of renewables in energy consumption has a positive and crisis a negative impact on the clean production. Results support further tightening and broader coverage of EU ETS regulation and provision of funds from the EU ETS for development of renewable energy technologies.</abstract>

Emissions Trading for Cleaner Production in the Old and New EU Member States?

<abstract xmlns="http://www.w3.org/1999/xhtml"> This paper investigates the linkages among equity markets of four European countries (Germany, France, Italy, UK) and the USA in terms of market returns and transmission of volatilities. We use daily exchange traded funds (ETF) data from January 2002 to March 2016 and utilize both a Multivariate Autoregressive Moving Average model (MARMA) and a Generalized Autoregressive Conditional Heteroskedasticity model (GARCH). We divided the data into three separate periods: before the 2007-08 financial crisis, during the crisis and after the crisis. The results show the existence of significant co-movement of returns in all three selected periods although some important differences before and after the financial crisis are noted. Findings also include marked increases in integration of the markets and thus diminishing diversification opportunities for investors. Volatilities appear to react strongly to market movements and their shocks fade away slowly in all five countries during the crisis period. There is also strong evidence of volatility spillovers particularly during and after the crisis periods.</abstract>

Equity Returns and Volatilities Before and After the 2007-08 Financial Crisis

<abstract xmlns="http://www.w3.org/1999/xhtml"> As one of the most important indicator for monitoring the production in industry as well as for directing investment decisions, industrial production plays important role within growth perspectives. Not only does the composition and/or fluctuation of the goods produced indicate the course of economic activity but it also reflects the changes in cyclical development of the economy thereby providing opportunity to macro-manage with early signs of (short-term) turning-points and (long-term) trend variations. In this paper, we compare univariate autoregressive integrated moving average (ARIMA) models of the Croatian industrial production and its subsectors in order to evaluate their forecasting features within short and long-term data evolution. The aim of this study is not to forecast industrial production but to analyze the out-of-sample predictive performance of ARIMA models on aggregated and disaggregated level inside different forecasting horizons. Our results suggest that ARIMA models do perform very well over the whole rage of the prediction horizons. It is mainly because univariate models often improve the predictive ability of their single component over the short horizons. In that manner ARIMA modelling could be used at least as a benchmark for more complex forecasting methods in predicting the movements of industrial production in Croatia.</abstract>

Forecasting Capacity of ARIMA Models; A Study on Croatian Industrial Production and its Sub-sectors

<abstract xmlns="http://www.w3.org/1999/xhtml"> Development aid, one of the most important mechanisms for the redistribution of global wealth, represents financial flows that have economic growth and social improvement as their main objective. It has also frequently been described as an instrument which is able to diminish international migrations and is used by several developed countries. Recently, much empirical evidence and several contributors have argued that connection and set out other grounds. This paper explores the interaction between development aid and migrations from developing to developed countries. We want to determine, if the amount of development aid has any impact on migrations from African, Caribbean, and the Pacific Group of States. Our results show that development aid does not have a direct effect on migrations and therefore, in terms of international migrations, is not effective. Moreover, we will argue that the donor side should use different policies and other mechanisms to manage migrations from those countries</abstract>

The Impact of Development Aid on the International Migrations in the African, Caribbean, and Pacifi c Group of States

<abstract xmlns="http://www.w3.org/1999/xhtml"> This paper investigates the empirical relationship between corruption, economic growth, and government spending in fourteen transitioning economies from 1995-2013. We find strong evidence of bilateral Granger causation between economic growth and corruption for the full sample but weaker evidence of such a relationship for four former Yugoslav republics. We also find bilateral Granger causality between government spending and corruption but a weaker unidirectional Granger causality from government spending to corruption in four former Yugoslav republics. Our results recommend caution when assuming that corruption is purely exogenous in empirical models.</abstract>

Corruption in Transition Economies: Cause or Effect?

AHEAD OF PRINT

Volume 26 (2023): Issue 2 (November 2023)

Volume 26 (2023): Issue 1 (May 2023)

Volume 25 (2022): Issue 2 (November 2022)

Volume 25 (2022): Issue 1 (May 2022)

Volume 25 (2022): Issue s1 (December 2022) Special Conference Issue

Volume 24 (2021): Issue s1 (December 2021) Special Conference Issue

Volume 24 (2021): Issue 2 (November 2021)

Volume 24 (2021): Issue 1 (May 2021)

Volume 23 (2020): Issue 2 (November 2020)

Volume 23 (2020): Issue s1 (December 2020) Special Conference Issue

Volume 23 (2020): Issue 1 (May 2020)

Volume 22 (2019): Issue 2 (November 2019)

Volume 22 (2019): Issue 1 (May 2019)

Volume 22 (2019): Issue s2 (December 2019) Special Conference Issue

Volume 22 (2019): Issue s1 (March 2019)

Volume 21 (2018): Issue s1 (December 2018)

Volume 21 (2018): Issue 2 (November 2018)

Volume 21 (2018): Issue 1 (May 2018)

Volume 20 (2017): Issue s1 (April 2017)

Volume 20 (2017): Issue 2 (November 2017)

Volume 20 (2017): Issue 1 (May 2017)

Volume 19 (2016): Issue 1 (May 2016)

Volume 19 (2016): Issue s1 (December 2016) Special Conference Issue

Volume 19 (2016): Issue 2 (November 2016)

Volume 18 (2015): Issue 2 (November 2015)

Volume 18 (2015): Issue 1 (May 2015)

Zagreb International Review of Economics and Business

 ZIREB is an international journal of economics and business. It covers wide range of topics in macroeconomics, microeconomics, management, marketing and tourism. In general, it delivers relevant scientific research in the field of economics and business and offers empirical insights on current economic development and political economy issues as well as on current developments in marketing, tourism and management research.  ZIREB is edited by Faculty of Economics and Business in Zagreb and it is managed by a team of academic researchers from universities all over the world.  ZIREB is published as a semiannual journal by the Faculty of Economics and Business in Zagreb. The first issue was published in May 1998. Every two years ZIREB is published three times a year. This Special Conference Issue consists of selected papers presented at the international conference "An Enterprise Odyssey" which is hosted by Faculty of Economics and Business.  Why subscribe and read ZIREB is an economics and business journal directed at scientific and academic researchers who are interested in new insights and research methods in the field of economics and business. The journal welcomes research on topics related to respective countries or on regionally relevant topics. Furthermore, professional papers, short papers, review articles and book reviews are also welcome.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  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. 