Sanja Franc

Regional Economic Integration and Developing Countries: The Example of South African Regional Integration - SADC

Economic integrations among developing countries are different from the ones among more developed countries because of its aims, namely fostering economic development, industrialization and decreasing poverty. In fact, for developing countries regional integration can represent an opportunity for integrating into the global economy by minimizing market fragmentation costs. Regionalism in Africa was led by public sector organizations and it was done without the public support and the support of private sector, thus, failing to produce positive consequences. New wave of regionalism is moving away from the described approach and accentuates political integration in which progressive level of integration is not considered until all conditions were fulfilled. The paper analyses characteristics, problems and future perspectives of regional integration process among developing countries on the example of African regional integration Southern African Development Community (SADC).

Examining the Export-led Growth Hypothesis: The case of Croatia

Abstract This paper examines the relationship between gross domestic product and exports of goods and services in Croatia between 1996 and 2012. The research results confirmed unidirectional Granger causality from the exports of goods and services to gross domestic product. Following the Engle-Granger approach to cointegration, long-term equilibrium as well as short-term correlation between the observed variables was identified. Exports of goods and services and gross domestic product (GDP) in Croatia move together. If the two observed variables move away from equilibrium, they will return to their long-term equilibrium state at a velocity of 24.46% in the subsequent period. In accordance with the results, we found evidence supporting the export-led growth hypothesis in Croatia. As the outcomes indicated, to recover the economy, Croatia should put more emphasis on the development of exporting sectors.

THE EFFECTS OF MEGA-REGIONAL TRADE AGREEMENTS ON THE MULTILATERAL TRADING SYSTEM // EFEKTI MEGA-REGIONALNIH SPORAZUMA NA MULTILATERALNI TRGOVINSKI SUSTAV

The aim of this study is to investigate the motives and eff ects of mega-regional trade agreements on the multilateral trading system using the example of Trans Pacifi c Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP). Multilateralism and regionalism, although opposite trends, coexist simultaneously. While many arguments can be given for both approaches one has to recognize that the number of regional trade agreements is increasing and that regionalism is becoming a prevailing trend. Th e response to the regional trade agreements, especially mega- regionals, will mostly depend upon the eff ect on the third countries’ trade interests. Since it is expected that, over time, many of the currently excluded emerging economies will become a part of some mega-regional agreement, it is not likely that new global standards and rules will be created on a strictly regional but rather on multilateral level

CORRUPTION, CAPITAL ABUNDANCE AND ECONOMIC DEVELOPMENT: EVIDENCE FROM THE EUROPEAN UNION COUNTRIES

The aim of this paper is to establish and clarify the relationship between corruption level and development among European Union countries. Out of the estimated model in this paper one can conclude that the level of corruption can explain capital abundance differences among European Union countries. Also, explanatory power of corruption is higher in explaining economic development than in explaining capital abundance, meaning stronger relationship between corruption level and economic development than between corruption level and capital abundance. There is no doubt that reducing corruption would be beneficial for all countries. Since corruption is a wrongdoing, the rule of law enforcement is of utmost importance. However, root causes of corruption, namely the institutional and social environment: recruiting civil servants on a merit basis, salaries in public sector competitive to the ones in private sector, the role of international institutions in the fight against corruption, and some other corruption characteristics are very important to analyze in order to find effective ways to fight corruption. Further research should go into this direction.

POLITIKA LIJEKOVA I UGRADBENIH MATERIJALA U ZEMLJAMA EUROPSKE UNIJE I REPUBLICI HRVATSKOJ

Sažetak: Osnovni cilj provedenog istraživanja bio je dobiti uvid u znacajke politike lijekova i ugradbenih materijala zemalja clanica Europske unije (EU) i Republike Hrvatske te donijeti zakljucke i potencijalne smjernice za buduce djelovanje. Istraživanje je provedeno metodom polustrukturiranih intervjua na uzorku od 49 ispitanika iz podrucja zdravstva. Identificirani su kljucni problemi politike lijekova u zemljama clanicama EU proizasli iz razlicitih i visokih cijena lijekova i ugradbenih materijala, nedostatka inovacija, nejednake dostupnosti lijekova, dugog cekanja na odobrenje lijeka te slabe konkurentnosti farmaceutske industrije EU. Najvažniji problemi politike lijekova u Hrvatskoj povezuju se s procedurom nabave i registracijom lijekova, troskovima i nedovoljnom informiranoscu struke. Potrebno je poboljsanje klinicke prakse te promicanje propisivanja generickih lijekova. Povecanje dostupnosti kvalitetnih i sigurnih lijekova moguce je putem komplementarnog djelovanja javnog i privatnog sektora. Nadalje, nužno je kontinuirano i sistematsko pracenje propisivanja i analiza potrosnje lijekova te okrupnjavanje nabave istih. U buducnosti se ocekuju bolji uvjeti za primjenu novih tehnologija, stroža kontrola te ujednacenost standarda s onima u EU.

Economic Growth and Development of Less Developed Countries within Regional Integrations: The Case of the EU

Most of the less developed countries consider regional integrations as a tool for achieving higher economic growth rates and economic development. Positive dynamic effects are what countries expect to occur in the long run within a regional integration. Since there is a trend of deepening regional integrations mutual policies on the supranational level are implemented. These policies are conducted on the basis of some aggregate measures or variables where the largest weights have more developed and big countries. Because of the existing economic heterogeneity among member countries, it is difficult to accomplish that mutual policies suit each member country in achieving its own goals. The purpose of this paper is to elaborate, on the example of the EU, the usefulness of common policies for the convergence and economic development of the less developed member countries. The main hypothesis of this paper is that there is a need to leaving certain space to these countries and to help them in the creation of special policies which are tailored to their needs in order to promote their economic growth and development and to ensure their convergence towards more developed member countries.