The book titled “In Search of New Markets” is the result of an entire year's work of a research team (Jaka Cepec, Daša Farčnik, Marko Jakšič, Gregor Pfajfar, Janez Prašnikar, Matevž Rašković, Tjaša Redek, Domen Trobec). If Slovenian economy wants to grow, the diversification of its export is essential. We selected Australia, South Africa and Turkey as examples of growing economies that are at different levels of development and in which Slovenian firms are still not present (or are present in a limited way). We also selected four industries: automotive, food, housing and pharmaceutical in which the Slovenian firms have already built some reputation and possess competencies for further growth. Different entry modes based on comparative advantages of Slovenian firms are proposed in the book.
This paper evaluates post-crisis effects of deleveraging policy in Slovenia. Reductions in banks’ credits to nonfinancial sectors were driven by increased collateralization, credit rationing, and a neglect of cash flow performance of banking clients. These jeopardized the normal deleveraging of companies with positive cash flows, and rolling over credits, which stifled economic growth. Erroneous sequencing, timing, and calibration of measures steering the deleveraging process generated these processes. Optimal deleveraging process demands that the Central Bank also focus on the stability of the financial system. This task should be a constitutional part of the third macro policy pillar, namely macroprudential policy.
Export led hypothesis is tested in Albania and compared to Slovenia. Following the evolutionary approach in corporate governance theory we examine internal organisation of the firm, relationships between stakeholders and Albania’s historical legacy (path dependency), linking these characteristics with competitiveness and export orientation. Cluster analysis reveals two distinct groups, where cooperation between agents and human capital investment, as well as productivity and export orientation, differ significantly. In terms of development policy, the results are very important for Albania and similar countries. Beside a unique dataset, the article also introduces methodological innovations in the survey technique and represents a contribution to the literature on intangible capital.