Projects / Programmes
Macroeconomic econometric analysis of development, growth, and internal and external stability of the Slovenian economy
January 1, 2018
- December 31, 2027
| Code |
Science |
Field |
Subfield |
| 5.02.00 |
Social sciences |
Economics |
|
| 5.05.00 |
Social sciences |
Law |
|
| Code |
Science |
Field |
| S180 |
Social sciences |
Economics, econometrics, economic theory, economic systems, economic policy |
| Code |
Science |
Field |
| 5.02 |
Social Sciences |
Economics and Business |
| 5.05 |
Social Sciences |
Law |
Econometrics, Simulation and Forecasting, Economic trends, Welfare, Economic development, Economic growth, Macroeconomics, Monetary economics, Fiscal policy, International economics, Economic integration, Labor market, Capital market, Role of the economy, Role of public administration, Energy market
Data for the last 5 years (citations for the last 10 years) on
June 30, 2024;
A3 for period
2018-2022
| Database |
Linked records |
Citations |
Pure citations |
Average pure citations |
| WoS |
70 |
564 |
520 |
7.43 |
| Scopus |
90 |
753 |
703 |
7.81 |
Researchers (7)
Organisations (1)
| no. |
Code |
Research organisation |
City |
Registration number |
No. of publicationsNo. of publications |
| 1. |
0541 |
EIPF, Economic Institut |
Ljubljana |
5051452000 |
0 |
Abstract
EIPF, Economic Institute is an independent institution that examines the functioning of Slovenian and global economy. EIPF researchers are specialized to use empirical econometric methods. The results of the research help the Republic of Slovenia in devising and managing its economic and development policy. The Institute was created at the time of the gradual introduction of the market economy in Slovenia (1963) and supported Slovenian policymakers between the world’s oil and the debt crisis, in the process of introduction of Slovenian own currency, as well as in the process of the Slovenian accession to the EU and to the euro area. In the last period we examine the adaptation of Slovenian economy to the situation after global financial crisis, we examine how the Euro area Monetary Union functions, and we examine how to create the conditions for economic growth, competitiveness and prosperity of Slovenian population in these specific circumstances.
In the research and development program "Macroeconomic econometric analysis of development, growth, external and internal stability of the Slovenian economy" we will empirically examine and clarify the link between development policy, guided by the concept of the European development model, the structure of the economy, comparative advantages, and economic growth. The process of Slovenian catching up to most developed EU Member States will be examined. We will furthermore define and present heterodox economic (anti-cyclic) policy with its theoretical basics and mechanisms (measures). In this context, we will also define and present the optimum regulation of the financial sector in the euro area. Modern econometric methods to analyze the long-term sustainability of fiscal policy in relation to the time lagged budget constraints and the anti-cyclic role of fiscal policy will be applied. Purchasing power parity (PPP) will be analyzed with the rolling nonlinear approach due to the documented shortcomings of linear specifications.
The way how institutions on two special areas function represents a condition sine qua non for economic stability and development of modern economy. These areas are public services and the energy market. We are going to examine the effectiveness of public administration in terms of factors that secure prosperity and we will explain the functioning of the energy market with its asymmetric cycles of occasional supply restrictions and high energy prices.
Significance for science
In the process of the implementation of the research program, we expect quite a few contributions to science, especially in economic modeling and analysis of the operation of a modern, open, social-market oriented small EU and euro area Member State. In the last decade, it has become clear that the paradigm, based on extensive borrowing, financial deepening, and transfer of production to less developed parts of the world together with large infrastructure investments has come to an end and that it has left behind extensive imbalances in the modern social-market oriented countries. We need a new paradigm with a different approach of economic policy and enhanced role of development policy taking into account the operation of the market and the role of the state (its policies) with the ultimate goal of the policy makers in ensuring the well-being of the population. We expect a significant contribution to science also in the field of conducting economic and development policy to tackle macroeconomic imbalances, to promote catching-up process of Slovenian economy as well as in forecasting economic trends, promotion of efficient ecological policy and in improvements in the efficiency of social system.
Significance for the country
Modern economy and conduct of economic policy is not possible without appropriate adjustments to the new situation that arose after the global financial and economic crises and the rise of new mercantilism in the circumstances of extreme openness of small developed economies as it is a case of Slovenia. Also, all of the above is not possible without the integration of advanced models for analysis and forecasting economic activity and quality of data. This can only be the result of continuous macro-economic research and empirical analysis. The results of the proposed program will allow continuation of work that our research team has started and it is going to help Slovenian economy to step back on the path of a long term stable, socially acceptable and sustainable economic growth. It will bring such needed economic activity to all spheres of our economy. In this context, we also expect that the results will help to assess the consequences of past events and to estimate future economic trends. It is also worth mentioning that the members of the research team are able to develop innovative and mostly empirically supported methods of analysis and forecasting and they are able to integrate this into practice.
Most important scientific results
Interim report
Most important socioeconomically and culturally relevant results
Interim report
