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https://doi.org/10.1080/1331677X.2015.1084890

Household debt as a determinant of retail and personal consumption – the case of Croatia

Alka Obadić
Tomislav Globan   ORCID icon orcid.org/0000-0001-5716-2113

Puni tekst: engleski, pdf (729 KB) str. 687-702 preuzimanja: 197* citiraj
APA 6th Edition
Obadić, A. i Globan, T. (2015). Household debt as a determinant of retail and personal consumption – the case of Croatia. Economic research - Ekonomska istraživanja, 28 (1), 687-702. https://doi.org/10.1080/1331677X.2015.1084890
MLA 8th Edition
Obadić, Alka i Tomislav Globan. "Household debt as a determinant of retail and personal consumption – the case of Croatia." Economic research - Ekonomska istraživanja, vol. 28, br. 1, 2015, str. 687-702. https://doi.org/10.1080/1331677X.2015.1084890. Citirano 25.01.2020.
Chicago 17th Edition
Obadić, Alka i Tomislav Globan. "Household debt as a determinant of retail and personal consumption – the case of Croatia." Economic research - Ekonomska istraživanja 28, br. 1 (2015): 687-702. https://doi.org/10.1080/1331677X.2015.1084890
Harvard
Obadić, A., i Globan, T. (2015). 'Household debt as a determinant of retail and personal consumption – the case of Croatia', Economic research - Ekonomska istraživanja, 28(1), str. 687-702. https://doi.org/10.1080/1331677X.2015.1084890
Vancouver
Obadić A, Globan T. Household debt as a determinant of retail and personal consumption – the case of Croatia. Economic research - Ekonomska istraživanja [Internet]. 2015 [pristupljeno 25.01.2020.];28(1):687-702. https://doi.org/10.1080/1331677X.2015.1084890
IEEE
A. Obadić i T. Globan, "Household debt as a determinant of retail and personal consumption – the case of Croatia", Economic research - Ekonomska istraživanja, vol.28, br. 1, str. 687-702, 2015. [Online]. https://doi.org/10.1080/1331677X.2015.1084890

Sažetak
The main goal of this paper is to determine the main characteristics and determinants of retail trade in Croatia over the last 20 years, and to analyse its retail turnover in comparison with other EU countries, especially during the last economic crisis. Using a regression model, the paper econometrically tests the hypothesis that the speed of the post-crisis recovery in retail turnover can be explained by the debt
levels accumulated in the pre-crisis period. The results of the analysis indicate the negative correlation between variables, which means that the countries that had the lowest levels of accumulated private debt, on average experienced the fastest recovery of retail turnover in the post-crisis period, and vice versa. The weaker correlation has been found in case of retail sales of food, beverages and tobacco products, which leads us to the conclusion that its consumption was not mainly financed by borrowing and, also, that its recovery does not depend primarily on the level of household debt. The analysis for the non-food sector indicated a very high dependence of this type of consumption on household debt, which remains one of the main impediments to its recovery.

Ključne riječi
retail trade; household debt; personal consumption; consumer confidence; Croatia; determinants of consumption

Hrčak ID: 171554

URI
https://hrcak.srce.hr/171554

Posjeta: 291 *