Politička ekonomija provođenja politike štednje

master's thesis

• Title (english): The political economy of austerity policy implementation
• Author: Filip Rusmir
• Mentor: Velibor Mačkić (mentor)
• Committee member: Lucija Rogić Dumančić (predsjednik povjerenstva)
• Committee member: Valentina Vučković (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2020-09-29, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Macroeconomics

Abstract

U ovom diplomskom radu analizira se provođenje ekonomske politike unutar političkog ciklusa, odnosno pokušava se analizirati način primjene ekonomske teorije u stvarnim društvenim okolnostima na primjeru provođenja politike štednje u zemljama članicama EU koje su to postale od 2004. godine. Ekonomska teorija služi kao smjernica za provođenje određene ekonomske politike, no na njezino provođenje utječu različite okolnosti. Kao najvažnija egzogena odrednica (okolnost) može se navesti izborni ciklus gdje, u demokratskim zemljama, političari, koji su zaduženi za provođenje ekonomske politike, moraju biti ponovno izabrani na svoju dužnost. Stoga izbori predstavljaju svakako najvažniju odrednicu u radu određenog političara. Radi toga izborni ciklus služi kao dobra orijentacija za analizu utjecaja društvenih okolnosti na provođenje ekonomske politike prema danoj teoriji. U tu će svrhu biti pružen povijesni pregled razvoja teorije politike štednje, kao i prikaz njezinog provođenja u ekonomskoj politici. Nakon toga će biti dan pregled teorije javnog izbora i političkih ciklusa koji pružaju teorijski okvir za objašnjenje važnosti samih izbora u životu racionalnih ekonomskih agenata. Na osnovu dane analize moći će se provesti ekonometrijska analiza pomoću koje će se pokušati odrediti značaj političkog ciklusa u provođenju politike štednje, posebno u kontekstu razdoblja Velike recesije. Metodološki, panel analiza čini temelj empirijske analize diplomskog rada i bit će provedena nad uzorkom od 11 novih zemalja članica EU u vremenskom razdoblju 2004.-2019.

Abstract (english)

This Master’s Thesis analyzes the implementation of economic policy within the political cycle, i.e. attempts to analyze the application of economic theory in the condition of real social circumstances by using the example of the implementation of austerity policy in EU member states that have become so since 2004. Economic theory serves as a guideline for the implementation of a particular economic policy, but its implementation is influenced by different circumstances. The most important exogenous determinant (circumstance) can be the election cycle where, in democratic countries, politicians, who are in charge of conducting economic policy, must be re-elected to their office. Therefore, elections are certainly the most important determinant in the career of a certain politician. Therefore, the electoral cycle serves as a good orientation for the analysis of the impact of social circumstances on the implementation of economic policy according to a given theory. For this purpose, a historical overview of the development of the theory of austerity policy will be provided, as well as an overview of its implementation in economic policy. This will be followed by an overview of public choice theory and the theory of political cycles that provide a theoretical framework for explaining the importance of the elections in the lives of rational economic agents. Based on the given analysis, it will be possible to conduct an econometric analysis which will try to determine the importance of the political cycle in the implementation of austerity policy, especially in the context of the Great Recession. Methodologically, the panel analysis forms the basis of the empirical analysis of the thesis and it will be conducted on a sample of 11 new EU member states in the period 2004.-2019.

• Keywords: politika štednje; ekonomska teorija; politička ekonomija; politički ciklus; Velika recesija
• Keywords (english): austerity policies; economic theory; political economy; political cycles; the Great Recession
• Language: croatian
• URN:NBN: urn:nbn:hr:148:693765
• Study programme: Title: Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access
• Created on: 2020-10-01 20:47:37