Faculty of Economics & Business - Zagreb

Assistant Professor Vladimir Arčabić, PhD, winner of the „Prof. Dr. Marijan Hanžeković“ Foundation Award

Foundation „Prof. Dr. Marijan Hanžeković“ endowed, for the nineteenth year in a row, the Best Scientific Paper Award. The winner of this year's awards is Assist. Prof. Vladimir Arčabić, PhD, from the Department of Macroeconomics and Economic Development of the Faculty of Economics & Business, and was awarded in the category of regular papers for scientific work Fiscal convergence and sustainability in the European Union.
Awarding Committee for 2018 Award composed of Ms. Helena Blažić (Faculty of Economics, Rijeka), Ms. Valerija Botrić (Economic Institute of Zagreb), Mr. Josip Franić (Institute of Public Finance, Zagreb), Mr. Vedran Šošić (Croatian National Bank, Zagreb), and Ms. Katarina Ott (Institute of Public Finance, Zagreb) has rated a total of 14 submitted papers - 12 in regular and 2 in the student category.
The award-winning work of Assist. Prof. Arčabić analyzes the convergence of fiscal policy and tests the fiscal sustainability of the EU and member states using data on their revenues, expenditures and debt. It also considers absolute convergence and the convergence of the member states, which is important because the EU has no unified fiscal policy, and the policies of the member states are heterogeneous and lead to different fiscal-converging groups. There is a clear divergence of fiscal policy at EU level, further increased after a major crisis, but at the same time there is the convergence of member states by certain criteria. The conclusions of the article are relevant to the future of fiscal mechanisms, as well as integration trends within and across the EU. The paper will be published in the Institute of Finance journal “Public Sector Economics” issue 4/18 and on the Foundation's website.

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