<abstract xmlns="http://www.w3.org/1999/xhtml">

This study examines the empirical relationship between financial development and merchandise trade in Nigeria using annual data from 1981 to 2014. The empirical analysis is also carried out on the disaggregated components of the trade, that is, merchandise export and import, for robust analysis. Estimation results based on error correction model show that there exists significant long run positive relationship between financial development and export in Nigeria over the period under study. There is need for government to therefore provide enabling environment for financial sector to thrive through sound macroeconomic policies for effective economic diversification through export.
</abstract>

Research, Policy & International Relations Department, Nigeria Deposit Insurance Corporation

Ph.D. is a Principal Economist in the Research, Policy & International Relations Department

Department of Economics, Faculty of Economics and Management Sciences

An Empirical Investigation of the Relationship between Financial Development and Merchandise Trade in Nigeria

<abstract xmlns="http://www.w3.org/1999/xhtml">

The paper seeks to assess the industry-based effect of exchange rate volatility on the export of non-oil sector in Nigeria. Theoretically and empirically, volatility-trade link is ambiguous. The paper employed bound test for co-integration between exchange rate volatility and exports of non-oil products. Empirically, the results show that we can accept the hypothesis of no co-integration between volatility and export of non-oil industries in most cases. Therefore, the study concludes that the exchange rate volatility can actually produce negative effect on non-oil export industries in the short-run especially the big industries (Agriculture, food and manufacturing) but this effect does not linger into the long-run and this suggests that most of these industries have been able to develop a mechanism to cope with exchange rate volatility problem in the long-run.
</abstract>

Lukman Oyeyinka Oyelami is at University of Lagos

Omowumi M. Ajeigbe is at Department of Economics

Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria

<abstract xmlns="http://www.w3.org/1999/xhtml">

This study examines the explanatory power of capital adequacy, asset quality, management soundness, earnings quality, liquidity and sensitivity to market risk (CAMELS) framework as well as a number of other variables on the financial soundness (measured by regulatory capital adequacy ratios) of banks in Nigeria. The findings, using ordinary least squared (OLS) regression subsequent to the establishment of no panel effects among the sampled banks, reveal the significant explanatory potentials of these bank-specific variables though some give a reversal of their prior expectations. Apart from reawakening the investors’ and depositors’ interest, the findings further have policy implications on the regulation and operation of these financial institutions. The study breaks new grounds in the measurement of capital adequacy using gross revenue ratio and leverage ratio, asset quality using income statement impairment charges for loan losses, and in the inclusion of the sensitivity to market risk most especially in the Nigerian context.
</abstract>

Ahmad Bukola Uthman is at Department of Accounting

Mubaraq Sanni is at Department of Accounting and Finance

Bank-Specific Variables and Banks’ Financial Soundness: Empirical Evidence from Nigeria

<abstract xmlns="http://www.w3.org/1999/xhtml">

Accession of Croatia to the EU brought legal, regulatory and market changes for the insurance companies. The question that arises is whether the new environment in which the companies operate has improved their efficiency. Accordingly, the aim of this paper is to separately estimate the efficiency of non-life and life insurance industry in Croatia and to compare it through the period before (2009-2012) and after (2013-2018) Croatian accession to the EU. The research is based on the Data Envelopment Analysis and the obtained results indicate an average increase in overall technical efficiency in both, non-life and life sector in period after Croatia’s accession to the EU. Still, this increase was not proved to be significant. Additionally, although increase in pure technical efficiency was significant in non-life sector, an insignificant slight decrease is recorded in life sector. Finally, insurers conducting (non)life business activities are mainly operating at increasing returns to scale.
</abstract>

Cvite Fiskovića 5, 21 000 Split, University of Split, Faculty of Economics, Business and Tourism

Cvite Fiskovića 5, 21 000 Split, University of Split

R. Boškovića 33, 21 000 Split, University of Split

University Department of Forensic Sciences

Has Accession to the European Union Affected the Efficiency of Croatian Insurance Companies?

<abstract xmlns="http://www.w3.org/1999/xhtml">

The paper explores factors influencing services procurement decision-making of manufacturing companies, and compares it to factors influencing products procurement decision-making. Data were gathered by survey among manufacturing companies and analysed by using exploratory factor analysis. The comparison between factors influencing services procurement and factors influencing products procurement is made by content analysis. Results prove that six distinct factors influence manufacturing companies when making services procurement decisions: interdepartmental communication, trust in service provider, service provider flexibility, buyer’s price sensitivity, top management support, and service provider competence. When compared to products procurement situation, it can be observed that some of the factors are influential in both purchasing situations, whereas other factors are not similarly important in both purchasing situations. The paper offers an insight to factors influencing buying decisions of manufacturing companies, that can help selling companies to better understand the differences in procurement processes of manufacturing companies in two buying situations: products procurement vs. services procurement.
</abstract>

Factors Influencing Organisational Buying Decisions in the Manufacturing Industry: Are Products and Services Procurement Different?

<abstract xmlns="http://www.w3.org/1999/xhtml">

This paper investigates the effect of renewable energy on economic growth in Croatia for the period 1996-2018. The Autoregressive Distributed Lag (ARDL) technique is used to find the long run relationships between renewable energy, energy consumption and economic growth. The empirical analysis indicates that renewable energy has a positive and significant effect on economic growth in the short and long run. These findings indicate that the Croatian government can continue to boost renewable energy investment without impeding economic growth.
</abstract>

The Effect of Renewable Energy Consumption on Economic Growth in Croatia

AHEAD OF PRINT

Volume 27 (2024): Issue 1 (May 2024)

Volume 26 (2023): Issue 2 (November 2023)

Volume 26 (2023): Issue 1 (May 2023)

Volume 25 (2022): Issue 2 (November 2022)

Volume 25 (2022): Issue 1 (May 2022)

Volume 25 (2022): Issue s1 (December 2022) Special Conference Issue

Volume 24 (2021): Issue s1 (December 2021) Special Conference Issue

Volume 24 (2021): Issue 2 (November 2021)

Volume 24 (2021): Issue 1 (May 2021)

Volume 23 (2020): Issue 2 (November 2020)

Volume 23 (2020): Issue s1 (December 2020) Special Conference Issue

Volume 23 (2020): Issue 1 (May 2020)

Volume 22 (2019): Issue 2 (November 2019)

Volume 22 (2019): Issue 1 (May 2019)

Volume 22 (2019): Issue s2 (December 2019) Special Conference Issue

Volume 22 (2019): Issue s1 (March 2019)

Volume 21 (2018): Issue s1 (December 2018)

Volume 21 (2018): Issue 2 (November 2018)

Volume 21 (2018): Issue 1 (May 2018)

Volume 20 (2017): Issue s1 (April 2017)

Volume 20 (2017): Issue 2 (November 2017)

Volume 20 (2017): Issue 1 (May 2017)

Volume 19 (2016): Issue 1 (May 2016)

Volume 19 (2016): Issue s1 (December 2016) Special Conference Issue

Volume 19 (2016): Issue 2 (November 2016)

Volume 18 (2015): Issue 2 (November 2015)

Volume 18 (2015): Issue 1 (May 2015)

Zagreb International Review of Economics and Business

 ZIREB is an international journal of economics and business. It covers wide range of topics in macroeconomics, microeconomics, management, marketing and tourism. In general, it delivers relevant scientific research in the field of economics and business and offers empirical insights on current economic development and political economy issues as well as on current developments in marketing, tourism and management research.  ZIREB is edited by Faculty of Economics and Business in Zagreb and it is managed by a team of academic researchers from universities all over the world.  ZIREB is published as a semiannual journal by the Faculty of Economics and Business in Zagreb. The first issue was published in May 1998. Every two years ZIREB is published three times a year. This Special Conference Issue consists of selected papers presented at the international conference "An Enterprise Odyssey" which is hosted by Faculty of Economics and Business.  Why subscribe and read ZIREB is an economics and business journal directed at scientific and academic researchers who are interested in new insights and research methods in the field of economics and business. The journal welcomes research on topics related to respective countries or on regionally relevant topics. Furthermore, professional papers, short papers, review articles and book reviews are also welcome.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 