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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.
Highlights
Inflation is amongst one of the main economic indicators that can be affected by the energy price shocks, since energy price changes may further lead to fluctuations in the price level through both direct and indirect channels
Energy price-inflation nexus was analyzed by using annual data over the period 1885-1914, for the case of Ottoman Empire
Based upon the unit root test results, bounds test was employed to uncover the interrelations between energy prices and price level
Summary
Inflation is amongst one of the main economic indicators that can be affected by the energy price shocks, since energy price changes may further lead to fluctuations in the price level through both direct and indirect channels. Being an essential input for the production process, energy price changes may cause surges in the producer prices which may trigger cost-push inflation causing an increase in the price of other goods and services. Changes in the inflation rate caused by the fluctuations in the energy prices may affect other economic variables like economic growth, unemployment, exchange rate which are amongst the most important macroeconomic issues for both the policy makers and researchers. It has been of great interest to economist since the oil price shock of the 1970s, the relationship between energy prices and inflation has historical roots. Even though investigating the linkage between energy prices and price level by using the contemporary data would contribute to the existing knowledge about the underlying factors of inflation, examining the dynamic relations between energy prices and price level in a historical manner may provide a different perspective for a better understanding of the sources of inflation
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