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Global Economic Downturn and the Dollar Exchange Rate
Published: April 17, 2019

Dubravko Mihaljek, Head of Operations at the Monetary and Economic Department of the Bank for International Settlements in Basel, held a lecture on the topic of Global Economic Downturn and the Dollar Exchange Rate on 17 April 2019 in the Institute of Public Finance.

The lecturer emphasized that in April 2018 indicators began to point to the slowdown in industrial production growth worldwide, which in the first three months of 2019 further deepened. However, service activities and employment continue to generate significant growth. Large and relatively closed economies continue to grow well, while small and open are beginning to slow down. The slowdown in industrial production coincides with the strengthening of the effective exchange rate of the dollar. Thus, he clarified the interaction between the trade and financial spheres of globalization and questioned the possibility of their separate development as it has been assumed in the last half century.

New issue of Public Sector Economics
Published: March 11, 2019

The new issue of Public Sector Economics contains contributions to the Institute of Public Finance conference held in Zagreb in October 2018. It starts with the Editors’ introduction to the Public Sector Economics 2018 Conference – Introduction to the Public Sector Economics 2018 Conference – Fiscal Openness: Transparency, Participation and Accountability in Fiscal Policies.

In keynote speeches James E. Alt traces the evolution of the concept of fiscal transparency in academic and policy agendas over the past three decades; and Francisco Bastida highlights the quality rather than quantity aspects of transparency as the key to the strengthening of public trust in government. Sandra Švaljek, Ivana Rašić Bakarić and Marijana Sumpor in the article Citizens and the city: the case for participatory budgeting in the City of Zagreb test some conclusions from the transparency literature in a case study of participatory budgeting in the city of Zagreb, Croatia’s capital. Lobna M. Abdellatif, Mohamed Zaky, Mohamed Ramadan, Jad Mazahreh and Ibrahim Elghandour in the article Transparency of law making and fiscal democracy in the Middle East use the Open Budget Index dataset to measure the quality of the law-making process for government budgets in Egypt, Jordan and Tunisia. Ana Ostrovidov Jakšić and Ivan Jakšić in the article How to prolong labour market participation in the Republic of Croatia? analyse the labour market for older workers from the point of view of prolonging their participation in the labour market in the Republic of Croatia. This issue ends with a review of Louis Meuleman’s book Metagovernance for Sustainability: A Framework for Implementing the Sustainable Development Goals


Public Sector Economics Conference
The Institute of Public Finance and Friedrich Ebert Stiftung are organizing international conference Public Sector Economics 2019 – Wealth and property taxation: where do we stand? on 24 October 2019 in Zagreb, Croatia. Detailed information is available at the conference web site.

Local budget transparency
On 2nd July 2018 the Institute of Public Finance presented the results of the fifth cycle of budget transparency research in Croatian local government units (counties, cities and municipalities).

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.

In the Newsletter entitled Budget outturns of Croatian municipalities, cities and counties for 2017, Katarina Ott, Mihaela Bronić and Branko Stanić are presenting the basic data on the budget outturns of all Croatian local government units for 2017, i.e. revenues and expenditures, surpluses or deficits (per capita and in total). The tables additionally provided in the Excel format, allow all interested parties to get acquainted with the fiscal condition of all local government units in 2017 and make relevant comparisons with the situation in 2016, 2015 and 2014.

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