Our colleagues Vjekoslav Bratić and Simona Prijaković participated from 17-19 May 2023, at the international conference Challenges of Europe: Design for the next generation which was organized by the Faculty of Economics, Business and Tourism in Split.

Simona Prijaković presented the paper in progress, “The impact of budget transparency on budget credibility in Croatian cities”. The paper analyses the effect of budget transparency on deviations in current revenue and expenditure for all Croatian cities. The results show that current revenues tend to be executed as planned in cities with a higher level of budget transparency. On the other hand, cities with a higher level of budget transparency overestimate their current expenditures, i.e. the planned current expenditures are higher than the executed ones. The paper originated as part of the Institute of Public Finance research project Does transparency pay off? The political and socio-economic impacts of local government budget transparency in Croatia, financed by the Croatian Science Foundation.

The conference was attended by scientists and practitioners from different countries, cultures and environments who discussed contemporary economic topics in Europe. Nobel Laureates in Economics Prof. Eric Muskin (2007) gave a lecture on A Resolution of Arrow’s Impossibility Theorem, and Prof. Alvin Roth (2012) on Controversial Markets.