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A roadmap of actions aiming at ensuring furniture industry production growth: panel analysis

Year: 2015

Type: article

Abstract: This paper investigates European Commission necessary conditions for competitive industry in the context of furniture manufacturing. Namely, in the Industrial Strategy of the Republic of Croatia 2014–2020, the manufacture of furniture was assigned a strategic role. However, Croatia continues to underperform in comparison with the European Union member states in terms of return to pre-crisis levels. Accordingly, using the system of generalised method of moments estimators in two steps with robust standard errors, the panel model was estimated. Econometric analysis indicates that a better access to markets, higher investment, and stable macroeconomic environment are significant conditions for achieving production growth. Moreover, the results suggest that a furniture manufacturing sector would profit from lower energy prices.

Source: Economic Research-Ekonomska Istraživanja

DOI: 10.1080/1331677x.2015.1083458

Authors: Gordan Družić, Martina Basarac Sertić

Institution: Croatian Academy of Sciences and Arts

Language: English

Topic: Global Trade and Competitiveness

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $944