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New insights into Lucas paradox
U: RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings. / Leko Šimić, Mirna; Crnković, Boris (ur.). Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku, 2021. str. 1096-1104. urn:nbn:hr:124:237189
Visković, Josip; Burnać, Paško; Tolj, Ante

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Visković, J., Burnać, P. i Tolj, A. (2021). New insights into Lucas paradox. U M. Leko Šimić, (Ur.), B. Crnković, (Ur.), RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings (str. 1096-1104). Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku. Preuzeto s https://urn.nsk.hr/urn:nbn:hr:124:237189

Visković, Josip, et al. "New insights into Lucas paradox." RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings, Ur. Mirna Leko Šimić, Ur. Boris Crnković, Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku, 2021, str. 1096-1104. https://urn.nsk.hr/urn:nbn:hr:124:237189

Visković, Josip, Paško Burnać i Ante Tolj. "New insights into Lucas paradox." U RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings, 1096-1104. Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku, 2021. Citirano 19.07.2024.. https://urn.nsk.hr/urn:nbn:hr:124:237189

Visković, J., Burnać, P. i Tolj, A. (2021) 'New insights into Lucas paradox', u Leko Šimić, M. (ur.), Crnković, B. (ur.), RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings, Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku, str. 1096-1104. Preuzeto s: https://urn.nsk.hr/urn:nbn:hr:124:237189 (Datum pristupa: 19.07.2024.)

Visković J, Burnać P, Tolj A. New insights into Lucas paradox. U: M. Leko Šimić, ur., B. Crnković, ur. RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings. Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku; 2021. Str. 1096-1104. [pristupljeno 19.07.2024.] Dostupno na: https://urn.nsk.hr/urn:nbn:hr:124:237189

J. Visković, P. Burnać i A. Tolj, "New insights into Lucas paradox", RED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings, M. Leko Šimić i B. Crnković, Ur. Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku, 2021. [Online] Dostupno na: https://urn.nsk.hr/urn:nbn:hr:124:237189 [Citirano: 19.07.2024.]

Za citiranje koristite ovu mrežnu adresu: https://urn.nsk.hr/urn:nbn:hr:124:237189
Podaci o radu
Naslov (engleski)New insights into Lucas paradox
AutorJosip Visković
AutorPaško Burnać
AutorAnte Tolj
UrednikMirna Leko Šimić
UrednikBoris Crnković
Autorova ustanovaSveučilište u Splitu
Ekonomski fakultet
Znanstveno / umjetničko
područje, polje i grana		DRUŠTVENE ZNANOSTI
Ekonomija
Sažetak (engleski)
Contrary to neoclassical theory, which states that capital should flow from rich to poor countries, the Lucas paradox shows that capital does not flow from developed to developing countries. More specifically, little capital flows from rich to poor countries. The Lucas paradox is theoretically explained by both differences in fundamentals and capital market imperfections. Among differences in fundamentals, the role of institutions is often defined as crucial, but the papers do not explain which element of the quality of institutions ultimately matters. Moreover, recent studies have not included the post-financial crisis period. Therefore, this paper examines the elements of institutional quality: voice and accountability, Political Stability and non- violence ; Government Effectiveness ; Regulatory Quality ; Rule of Law and Corruption Control as determinants of capital flows. More specifically, this paper analyses the impact of institutional quality and selected macroeconomic variables on foreign direct investment. Indeed, foreign direct investment has a positive impact on capital accumulation and enables the transfer of technology and knowledge, which supports economic growth and development. Data for 149 countries for the period 2012 - 2019 are obtained from the World Government Indicators and the World Bank. Using dynamic panel data analysis, we find that the quality of institutions is still the leading variable in explaining the Lucas Paradox, with all elements being important. This result should be of great importance to policy makers in developing countries as they should strive to improve the quality of nstitutions in order to attract foreign direct investment as an important factor for economic growth and development.
Jezikengleski
Vrsta publikacijeZnanstveni rad - Izvorni znanstveni rad
Status objaveObjavljen
Vrsta recenzijeRecenziran - međunarodna recenzija
Verzija publikacijeObjavljena verzija rada (izdavačev PDF)
Naslov zbornikaRED 2021: 10th International Scientific Symposium Region, Entrepreneurship, Development: Proceedings
Izdanje2021
Naslov serije10th International Scientific Symposium Region, Entrepreneurship, Development (RED 2021)
Brojčani podacistr. 1096-1104
p-ISSN1848-9559
URN:NBNurn:nbn:hr:124:237189
Datum objave publikacije2021
SkupNaziv: 10th International Scientific Symposium Region, Entrepreneurship, Development (RED 2021)
Lokacija: Osijek, Hrvatska
Datum početka: 2021-06-17
Datum završetka: 2021-06-17
Vrsta izlaganja: Predavanje
Vrsta resursaTekst
IzdavačSveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku
Prava pristupaOtvoreni pristup
Uvjeti korištenjaIkona licence Zaštićeno autorskim pravom.
Datum i vrijeme pohrane2024-07-18 12:28:36