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Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU

Predrag Petrović ; Institute of Social Sciences, Beograd, Srbia

Puni tekst: engleski, pdf (317 KB) str. 57-87 preuzimanja: 323* citiraj
APA 6th Edition
Petrović, P. (2012). Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU. Zbornik radova Ekonomskog fakulteta u Rijeci, 30 (1), 57-87. Preuzeto s https://hrcak.srce.hr/83351
MLA 8th Edition
Petrović, Predrag. "Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU." Zbornik radova Ekonomskog fakulteta u Rijeci, vol. 30, br. 1, 2012, str. 57-87. https://hrcak.srce.hr/83351. Citirano 09.12.2019.
Chicago 17th Edition
Petrović, Predrag. "Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU." Zbornik radova Ekonomskog fakulteta u Rijeci 30, br. 1 (2012): 57-87. https://hrcak.srce.hr/83351
Harvard
Petrović, P. (2012). 'Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU', Zbornik radova Ekonomskog fakulteta u Rijeci, 30(1), str. 57-87. Preuzeto s: https://hrcak.srce.hr/83351 (Datum pristupa: 09.12.2019.)
Vancouver
Petrović P. Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU. Zbornik radova Ekonomskog fakulteta u Rijeci [Internet]. 2012 [pristupljeno 09.12.2019.];30(1):57-87. Dostupno na: https://hrcak.srce.hr/83351
IEEE
P. Petrović, "Harrod – Balassa – Samuelson effect and the role of distribution sector: an empirical case study of Serbia and EMU", Zbornik radova Ekonomskog fakulteta u Rijeci, vol.30, br. 1, str. 57-87, 2012. [Online]. Dostupno na: https://hrcak.srce.hr/83351. [Citirano: 09.12.2019.]

Sažetak
This research aims to test the functionality of the standard and the modifi ed HBS model, with the intention to discover whether sectoral differences in labor productivity affect the dinar/euro real exchange rate. The fi rst part of the analysis is based on the standard HBS model, which mathematically formalizes the dependence of the real exchange rate on the difference in the relative labor productivity in the open sector between Serbia and the EMU. The second part of the research relies on a modifi ed version of the HBS model which differs from the standard HBS model since the effect of the distribution sector is separately analyzed. The empirical testing of both models was performed by applying the Johansen and the Engle-Granger
tests. The results obtained by analyzing the standard HBS model indicates that there is no reliable evidence based on which it can be concluded that either the difference in the relative labor productivity in the open sector between Serbia and the EMU translates onto the difference in the relative prices of non-tradable goods or that the
difference in prices affects the real exchange rate of the dinar against the euro. Furthermore, the analysis of the modifi ed HBS model does not affect the previous results. Based on these fi ndings, it can be concluded that the real euro/dinar exchange rate is not determined solely by sectoral differences in labor productivity,
and that in future perspective Serbia will not have to choose between the dynamic economic growth and the membership in the EMU.

Ključne riječi
Harrod-Balassa-Samuelson model; open sector; distribution sector; relative prices of non-tradable goods

Hrčak ID: 83351

URI
https://hrcak.srce.hr/83351

[hrvatski]

Posjeta: 622 *