The transition process can be split into three phases; an early phase of contraction, a subsequent phase of stabilization, and the third phase of eventual growth. The paper analyses σ, β and unconditional convergence of the real per capita GDP level across new EU member states during their integration process. Their developments during the accession period between 1992 and 2005 are characterized by convergence. The results showed that the level of unconditional convergence was set at 5, 07% per year, which confirms assumptions of positive effects of economic integration according to standard neoclassical and Heckscher-Ohlin theory. Consequently, the experience of the new EU member countries should indicate a perspective of economic development for the countries yet in the process of full or associated EU membership
COBISS.SI-ID: 10632732
The inflation in the first and half year after the introduction of Euro in Slovenia was of a short-term nature, conditioned also by a favorable economic growth. The cumulative (retail) price level growth was also conditioned by internal factors (a weak competition in certain sectors and an increase in domestic demand) and external factors (some originate from the increase in food and energy product prices on the world market and from relative high GDP growth in Slovenia due to export growth) in the observed time period.
COBISS.SI-ID: 32578861
This paper applies a DCC-GARCH approach to examine the comovement and spillover dynamics between returns of the Slovenian and some European stock markets. The main findings of the paper are: i) Comovement between Slovenian and European stock markets is time-varying; ii) There are significant return spillovers between the Slovenian and European stock markets; iii) Return spillovers are not just time-varying, but also scale dependent; iv) The global financial crisis of 2007-2008 has increased comovement between the Slovenian and European stock markets; v) As the scale increases, we can observe larger discrepancies between DCC-GARCH and wavelet correlation estimates.
COBISS.SI-ID: 10958876