Luka Sikic - Academia.edu (original) (raw)

Papers by Luka Sikic

South East European Journal of Economics and Business, 2019

The goal of the paper is to estimate relative importance of channels of technological diffusion b... more The goal of the paper is to estimate relative importance of channels of technological diffusion between new member states and core EU countries. Based on neoclassical growth theory and extensive literature survey on technological diffusion we explore movements in the relative TFP in EU member states and try to identify relative importance of channels of technological diffusion as suggested by theory: imports, exports, FDI, R&D, human capital and fixed capital formation, etc. In the first step we employ Phillips and Sul (2007) log t test which has power to detect convergence even in the absence of cointegration between time series. In the second part we employ Abrigo and Love (2016) PVAR model in order to detect channels of diffusion of technology. The data is sampled from Eurostat and PWT repository and covers the period from 1995-2016 for panel analysis and 1950-2014 for TFP convergence analysis. Our results indicate that in the overall sample FDI and R&D are major drivers of techn...

Tourism: An international Interdisciplinary Journal, 2018

We analyze various aspects of the "sense of place" concept in the littoral municipality... more We analyze various aspects of the "sense of place" concept in the littoral municipality of Okrug on the island of Čiovo near Trogir. Th e basis of our research is the diff erence in perceptions between permanent and temporary residents upon which we draw conclusions and policy implications. Th e research is embedded into a wider literature and policy discussion on ecosystem services, second homes and counter-urbanization process in Croatia in particular. Our results show that the "sense of place" construct consists of multiple sub-concepts, which, in turn, have multiple factors. Also, the diff erence in perception of various sub-concepts of the "sense of place" between permanent and temporary residents has been found. Th e research confi rmed the diff erences in place attachment and place dependence between permanent and temporary residents. Furthermore, a statistically signifi cant diff erence in the numbers of second-home owners, who rate themselves a...

The present work uses long-term economic development data (1952-2010) as well as a detailed indus... more The present work uses long-term economic development data (1952-2010) as well as a detailed industry-level panel data (1963-2011) to analyse industrialisation patterns in Europe, implications of economic backwardness and the role of European integration in facilitating industrialisation and development. We find evidence of some income convergence in Europe, but mostly in countries that were able to exploit the ‘advantages of (mild) backwardness’. Regions of extensive backwardness such as the Balkans had difficulties to catch up. Membership in the European Union helped especially more backward economies to develop faster.

Croatian Review of Economic, Business and Social Statistics, 2016

Economic theory recognizes the importance of the firm’s balance sheet channel. This stands in sta... more Economic theory recognizes the importance of the firm’s balance sheet channel. This stands in stark contrast to the neoclassical theory of investment. This paper analyses the response of firms to the economic crisis in the sample of Croatian firms. Our main variables of interest are investment and employment. We estimated the OLS model that accounts for a heterogeneous response to the crisis shock of differently leveraged firms. The empirical model is augmented so that it accounts for industry and county effects. The robustness checks are performed for different dependent as well as control variables and interactions. The results strongly and robustly confirm the importance of the firm’s balance sheet channel.

Financial Theory and Practice, 2013

This paper provides an analysis of absolute economic convergence among the group of ten new membe... more This paper provides an analysis of absolute economic convergence among the group of ten new member states (NMS-10) that entered European Union in the

Public Sector Economics, 2017

luka šikić and mislav šagovac: an international integration history of the zagreb stock exchange ... more luka šikić and mislav šagovac: an international integration history of the zagreb stock exchange public sector economics 41 (2) 227-257 (2017)

South East European Journal of Economics and Business, 2019

The goal of the paper is to estimate relative importance of channels of technological diffusion b... more The goal of the paper is to estimate relative importance of channels of technological diffusion between new member states and core EU countries. Based on neoclassical growth theory and extensive literature survey on technological diffusion we explore movements in the relative TFP in EU member states and try to identify relative importance of channels of technological diffusion as suggested by theory: imports, exports, FDI, R&D, human capital and fixed capital formation, etc. In the first step we employ Phillips and Sul (2007) log t test which has power to detect convergence even in the absence of cointegration between time series. In the second part we employ Abrigo and Love (2016) PVAR model in order to detect channels of diffusion of technology. The data is sampled from Eurostat and PWT repository and covers the period from 1995-2016 for panel analysis and 1950-2014 for TFP convergence analysis. Our results indicate that in the overall sample FDI and R&D are major drivers of techn...

Tourism: An international Interdisciplinary Journal, 2018

We analyze various aspects of the "sense of place" concept in the littoral municipality... more We analyze various aspects of the "sense of place" concept in the littoral municipality of Okrug on the island of Čiovo near Trogir. Th e basis of our research is the diff erence in perceptions between permanent and temporary residents upon which we draw conclusions and policy implications. Th e research is embedded into a wider literature and policy discussion on ecosystem services, second homes and counter-urbanization process in Croatia in particular. Our results show that the "sense of place" construct consists of multiple sub-concepts, which, in turn, have multiple factors. Also, the diff erence in perception of various sub-concepts of the "sense of place" between permanent and temporary residents has been found. Th e research confi rmed the diff erences in place attachment and place dependence between permanent and temporary residents. Furthermore, a statistically signifi cant diff erence in the numbers of second-home owners, who rate themselves a...

The present work uses long-term economic development data (1952-2010) as well as a detailed indus... more The present work uses long-term economic development data (1952-2010) as well as a detailed industry-level panel data (1963-2011) to analyse industrialisation patterns in Europe, implications of economic backwardness and the role of European integration in facilitating industrialisation and development. We find evidence of some income convergence in Europe, but mostly in countries that were able to exploit the ‘advantages of (mild) backwardness’. Regions of extensive backwardness such as the Balkans had difficulties to catch up. Membership in the European Union helped especially more backward economies to develop faster.

Croatian Review of Economic, Business and Social Statistics, 2016

Economic theory recognizes the importance of the firm’s balance sheet channel. This stands in sta... more Economic theory recognizes the importance of the firm’s balance sheet channel. This stands in stark contrast to the neoclassical theory of investment. This paper analyses the response of firms to the economic crisis in the sample of Croatian firms. Our main variables of interest are investment and employment. We estimated the OLS model that accounts for a heterogeneous response to the crisis shock of differently leveraged firms. The empirical model is augmented so that it accounts for industry and county effects. The robustness checks are performed for different dependent as well as control variables and interactions. The results strongly and robustly confirm the importance of the firm’s balance sheet channel.

Financial Theory and Practice, 2013

This paper provides an analysis of absolute economic convergence among the group of ten new membe... more This paper provides an analysis of absolute economic convergence among the group of ten new member states (NMS-10) that entered European Union in the

Public Sector Economics, 2017

luka šikić and mislav šagovac: an international integration history of the zagreb stock exchange ... more luka šikić and mislav šagovac: an international integration history of the zagreb stock exchange public sector economics 41 (2) 227-257 (2017)