master's thesis
The Impact of the Exchange Rate of the Gross Domestic Product in the Republic of Croatia

Jurica Spahija (2017)
University of Zadar
Department of Economics
Metadata
TitleUtjecaj deviznog tečaja na bruto domaći proizvod u Republici Hrvatskoj
AuthorJurica Spahija
Mentor(s)Mladen Rajko (thesis advisor)
Abstract
U ovom radu istražuje se utjecaj deviznog tečaja na BDP-e u Republici Hrvatskoj. Nadalje, razmatra s vođenje tečajne politike HNB-a u svrhu ostvarenja svog glavnog cilja, odnosno stabilnosti cijena te sekundarnih ciljeva monetarne politike. Prikazuju se vrste sustava deviznih tečajeva s obzirom na njihove najvažnije karakteristike. Isto tako, procjenjuje se učinkovitost odabira sustava upravljanog fluktuirajućeg tečaja s obzirom na karakteristike financijskog i realnog sektora ekonomije u Republici Hrvatskoj. Također, procjenjuje se vrijednost tečaja kune u odnosu na euro te učinkovitost kanala tečaja kao mehanizma monetarnog prijenosa. Analizira se utjecaj deprecijacije deviznog tečaja na izvoz i potrošnju putem efekta konkurentnosti i bogatstva te njihov ukupan učinak na BDP-e u Republici Hrvatskoj. Uvažavajući karakteristike hrvatske ekonomije, rezultati ovog rada pokazuju da ukupan efekt deprecijacije deviznog tečaja ne povećava, već utječe na smanjenje BDP-a u Republici Hrvatskoj. Nadalje, mala, otvorena i visokoeuroizirana zemlja kao što je Hrvatska, koju karakterizira visoka uvozna zavisnost, visok inozemni dug te zaduženost svih sektora u stranoj valuti, naprosto je prisiljena održavati stabilan tečaj kune prema euru zbog izrazito visoke osjetljivosti svih sektora na promjene tečaja.
Keywordsforeign exchange rate exchange rate policy of CNB euroisation the effects of the depreciation of the exchange rate
Parallel title (English)The Impact of the Exchange Rate of the Gross Domestic Product in the Republic of Croatia
Committee MembersBerislav Bolfek (committee chairperson)
Anita Peša (committee member)
Mladen Rajko (committee member)
GranterUniversity of Zadar
Lower level organizational unitsDepartment of Economics
PlaceZadar
StateCroatia
Scientific field, discipline, subdisciplineSOCIAL SCIENCES
Economics
General Economy
Study programme typeuniversity
Study levelgraduate
Study programmeManagement
Academic title abbreviationmag. oec.
Genremaster's thesis
Language Croatian
Defense date2017-02-20
Parallel abstract (English)
In this graduation thesis the impact of the exchange rate on the GDP in the Republic of Croatia is being researched. Furthermore, the exchange rate policy of Croatian National Bank is being closely inspected with the purpose of achieving its main goal – the stability of prices, but also the secondary goals of the monetary policy. The thesis shows types of foreign exchange rates regarding its most important characteristics. In addition, the efficiency of choosing a system operated by managed floating exchange rate is being assessed in consideration of the characteristics of the financial and real economy sector in the Republic of Croatia. Moreover, the thesis appraises the value of the exchange rate of kuna in relation to euro, as well as the efficiency of the exchange rate channel as the mechanism of the monetary transmission. It analyses the impact of depreciation of the exchange rate on export, through the effect of competitiveness, and also on the consumption, through the wealth effect and their overall effect on GDP in the Republic of Croatia. Taking into account the characteristics of Croatian economy, the results of this thesis show that the overall effect of the depreciation of exchange rate doesn’t increase but impact the decrease of the GDP in the Republic of Croatia. Further, a small, opened and highly euroised country like Croatia, characterized by high import subordination, large foreign debt and indebtedness of all sectors in foreign currency is simply forced to maintain a stable exchange rate of kuna in regards to euro because of the extremely high sensibility of all sectors to the change of rate.
Parallel keywords (Croatian)devizni tečaj tečajna politika HNB-a euroizacija efekti deprecijacije tečaj
Resource typetext
Access conditionAccess restricted to students and staff of home institution
Terms of usehttp://rightsstatements.org/vocab/InC/1.0/
URN:NBNhttps://urn.nsk.hr/urn:nbn:hr:162:900331
CommitterMarta Unković