Archives

Volume 5 Number 4 April 2019

Energy Prices-Inflation Nexus: A Historical Analysis for the Case of Ottoman Empire


Authors: Özgür Özaydın
Pages: 86-93
DOI: doi.org/10.32861/ijefr.54.86.93
Abstract
In this paper, the link between energy prices and price level is investigated from a historical perspective for the case of Ottoman Empire during the period 1885-1914. Although the unit root test results revealed that none of the variables are integrated of second or higher order, the findings of the unit root tests were conflicting. Therefore, to investigate the dynamic relations between energy prices and inflation, ARDL approach to cointegration is employed. The results of the bounds tests showed that energy prices and CPI were cointegrated. Furthermore, ARDL long-run results showed that a 1% change in inflation causes a 0.85% change in energy prices in same direction.



Public Procurement in Broadband Infrastructure Projects in the Republic of Croatia


Authors: Ana Radman ; Jože Ričnik ; Tomaž Bartol ; Lea Robič Mohar ; Matej Požarnik
Pages: 78-85
DOI: doi.org/10.32861/ijefr.54.78.85
Abstract
This paper investigates public procurement in Broadband Infrastructure Projects in the Republic of Croatia, the funding of which is provided by the European Regional Development Fund for the period 2014-2020. Since successfully implemented procurement procedure for the infrastructure solution is one of the key factors for grant approval and the start of project implementation, the question arises as to which public procurement techniques contribute best to achieving the goals and meeting the objectives of these specific projects. It is estimated that the available literature and legal cases are not sufficient to make a decision on the selection of the procedure. Therefore, a conclusion of possible procedures was reached on the efficient and effective process through a comparison, as well as multicriteria analysis, leading to the successful completion of the procurement process.