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Solidarity charge - a new non-tax levy
Published: October 6, 2015

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.

National budget transparency
Published: September 21, 2015

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).

New issue of Financial&Practice
Published: September 14, 2015

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.


Local budget transparency
On 17 June 2015 the Institute of Public Finance presented the results of a large research project related to local budget transparency, which for the first time included all 576 local government units in Croatia.

To make the results more accessible and easier to read, the Institute published an interactive map that shows the status of each local government unit.

Osnove upravljanja javnim dugom
Published: 2011
ISBN: 978-953-7613-47-1
Osnove upravljanja javnim dugom is a university textbook that deals with the understanding of the concept, structure and techniques of issuing public debt...
Press Releases
In the Press Release titled Fifteenth amendments to the Local Government Unit Financing Act, Anto Bajo and Marko Primorac warn of the negative effects of frequent changes in the Act and the risk of returning to the personal income tax sharing regime based on non-economic criteria, with an unknown purpose and vague fiscal objectives.

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