1. Shaping Stability : Can the Finance-Growth Nexus Achieve It?Ahmed Mahmoudi, Mohamed Torra, 2025, original scientific article Abstract: This paper assesses the tripartite link between a country’s financial (in) stability, its level of financial development, and economic growth. Using a panel of 21 countries over the period 2001–2020 and using the IMF Financial Market Index to proxy financial development, we find (i) that financial stability varies positively with the development of the financial system, and (ii) that the relationship between financial stability and economic growth depends critically on the level of financial development of each country. These results show that in the absence of financial development, the impact of economic growth on financial (in)stability will havedifferent effects. In addition, we performed a subsample analysis by dividing the overall sample into two subsamples based on stability levels. We find that financial development enhances stability more in the more stable subsample, while growth does so in the less stable subsample.
Keywords: financial (in)stability, financial development, economic growth, financial market index, emerging and developing markets
Published in RUP: 16.01.2026; Views: 385; Downloads: 0
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3. Comparative analysis of tourism-led growth in Slovenia and MontenegroSergej Gričar, Štefan Bojnec, Vesna Karadžić, Svetlana Rakočević, 2016, original scientific article Keywords: Slovenia, Montenegro, causality, tourism, economic growth
Published in RUP: 03.04.2017; Views: 5746; Downloads: 86
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6. Labour taxation and its impact on employment growthPrimož Dolenc, Suzana Laporšek, 2012, original scientific article Abstract: The paper aims to assess the characteristics of labour taxation for five different groups of workers and labour market performance (in terms of employment and unemployment rate) in the EU and to examine whether tax wedge affects employment growth in the EU. The descriptive empirical estimates show that the level of labour taxation varies greatly across EU Member States, by which the tax wedge tends to be higher among New Member States (excluding Cyprus and Malta). Furthermore, the panel regression analyses confirm statistically significant negative relationship between tax wedge and employment growth in the EU as a whole. Therefore, the empirical analysis suggests that the EU-27 should continue with the trend of reducing tax wedge, as this would have favourable effects on labour market performance, especially among New Member States.
Keywords: labour taxation, employment growth, labour market, economic policy, European Union
Published in RUP: 15.10.2013; Views: 4914; Downloads: 68
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