Economic diplomacy: concept for economic prosperity in Croatia

Figures & data

Table 1. Coefficient estimates for independent variables.

Parameter	Estimate	Standard Error	T-Statistic	P-Value
CONSTANT	−33.8615	3.30949	−10.2316	0.000
GDP	1.12487	0.0722422	15.5708	0.000
DIST	−1.75065	0.108462	−16.1407	0.000
STAFF	0.0569068	0.0286428	1.98678	0.0476

Source: Authors’ calculations.

Table 2. Correlation matrix for coefficient estimates.

	Constant	GDP	Distance	Staff
Constant	1	−0.9709	0.2462	0.4022
GDP	−0.9709	1	−0.4682	−0.5143
Distance	0.2462	−0.4682	1	0.5208
Staff	0.4022	−0.5143	0.5208	1

Source: Authors’ calculations.

Table 3. Analysis of variance.

Source	Sum of Squares	Df	Mean Square	F-Ratio	P-Value
Model	2600.04	3	866.682	205.28	0.0000
Residual	1693.02	401	4.222
Total (Corr.)	4293.07	404	15.5708

Source: Authors’ calculations.

Table 4. R-squared statistic.

R-squared	60.5638
R-squared (adjusted for d.f.)	60.2688
Standard Error of Est.	2.05475
Mean absolute error	1.40109
Durbin–Watson statistic	0.604631 (P = 0.0000)
Lag 1 residual autocorrelation	0.68921

Source: Authors’ calculations.

Table A1. Analysed export destinations.

Croatian export destination	Merchandise exports in thousands $, year 2016	No of embassies abroad	No of consulates abroad
Albania	6541,731	38	91
Algeria	3737,583	93	34
Argentina	77690,48	86	52
Armenia	129,555	41	42
Australia	11577,788	80	78
Austria	1353776,44	84	295
Azerbaijan	337317,883	69	17
Bangladesh	16613,806	56	87
Belarus	5495,9	57	86
Belgium	404205,177	84	307
Bolivia (Plurinational State of)	632,01	32	58
Bosnia and Herzegovina	594408,027	44	27
Brazil	98264,008	139	202
Bulgaria	123772,733	77	94
Canada	16091,633	110	129
Chile	2517,667	72	211
China	1016752,933	170	98
China, Hong Kong SAR	47622,195	23 trade offices	–
Cyprus	3331,544	43	129
Czech Republic	504579,707	90	320
Denmark	97108,073	68	370
Egypt	33707,851	127	29
Estonia	2127,166	37	184
Ethiopia	442,9	43	48
Finland	31685,004	71	364
France	446612,255	166	574
Germany	3308289,552	155	397
Greece	89913,496	83	178
Hungary	1476380,029	87	251
India	117898,59	123	108
Indonesia	49098,253	95	88
Iran (Islamic Republic of)	4661,287	107	34
Iraq	159179,12	72	15
Ireland	40552,245	61	105
Israel	25877	79	97
Italy	2820719,83	126	516
Japan	39249,372	152	148
Jordan	2358,256	53	46
Kazakhstan	11449,303	63	90
Korea, Republic of	448412,646	118	162
Kuwait	6,282	88	13
Lebanon	196,615	70	62
Libya	153734,269	114	10
Lithuania	25774,3	40	173
Malaysia	16078,867	83	69
Malta	2964,638	24	190
Mexico	17363,17	81	221
Mongolia	3,504	31	82
Montenegro	2487,121	27	50
Morocco	14217,34	94	123
Nepal	93,693	29	56
Netherlands	903745,797	111	299
New Zealand	3936,914	48	79
Nigeria	8677,924	99	11
Norway	35877,653	83	383
Oman	509,629	48	28
Peru	202,649	64	159
Philippines	1900,593	60	186
Poland	642438,782	92	217
Portugal	24799,391	76	260
Qatar	6470,116	100	12
Romania	176754,353	93	227
Russian Federation	576415,128	146	175
Serbia	514288,036	69	92
Slovakia	369372,689	63	175
Slovenia	2411810,567	40	105
South Africa	6049,292	109	99
Spain	420587,746	122	433
Sri Lanka	1620,428	51	104
Sudan	0,117	72	22
Sweden	111969,968	95	335
Switzerland	252146,458	105	215
Syrian Arab Republic	568,32	58	47
Thailand	–	65	128
TFYR of Macedonia	89275,61	41	57
Tunisia	1486,558	59	71
Turkey	277924,873	137	178
Ukraine	38955,052	83	128
United Kingdom	222896,464	152	193
United States	285667,703	170	127
Uruguay	–	53	136