INSTITUTE OF PUBLIC FINANCE
Tel: + 385 1 4886 444
Fax: +385 1 4819 365
The new Press Release titled Solidarity charge - a new non-tax levy features a commentary by Anto Bajo and Irena Klemenčić on the Government's decision, provided in the Regulation of September 3, 2015, to base its social welfare policy on subsidizing electricity costs rather than on social transfers.
In the Press Release titled National budget transparency - a deterioration in the quality and comprehensiveness of government revenue and expenditure information, Mihaela Bronić and Ivica Urban analyse the scores in the Open Budget Index 2015, the only independent and internationally comparable indicator used for periodic measurement of central government budget openness (transparency).
In the new issue of the journal Financial Theory and Practice you can find the paper by Petar-Pierre Matek and Maša Radaković Is active management of mandatory pension funds in Croatia creating value for second pillar fund members? The authors analyse Croatian mandatory pension funds’ investment returns during the 2005-2014 period. Such analysis is essential to shed light on the contribution of active portfolio management in the second pillar pension scheme. Dinka Antić analyses the implications of excise policy in member states and at the EU level in the field of tobacco taxation for policy convergence, revenues and the tobacco market in the paper Implications of the taxation of tobacco in the European Union in the period 2005-2014. Miroslava Kostova Karaboytcheva and Carolina Silva Cassorla in the paper The shadow economy: a relevant factor for investment decisions in selected European Union countries propose an improved rating estimation justifying the insertion of new variables, specifically, the shadow economy as a percentage of the GDP. Hatice Gaye Gencer in the paper Flight-to-quality or contagion effect? An analysis from the Turkish and the US financial markets investigates the presence of flight-to-quality from stocks to bonds in cases of the US as one of the most developed economies in the world and Turkey as an emerging economy. Predrag Bejaković reviews the book Financing of Organised Crime.
You can order your copy of the new issue in the webshop.