IDEAS home Printed from https://ideas.repec.org/a/mgt/youmgt/v10y2012i2p121-144.html
   My bibliography  Save this article

Exploring Consumer Reactions to the Recession in Slovenia and Bosnia and Herzegovina

Author

Listed:
  • Tomaz Kolar

    (University of Ljubljana, Slovenia)

  • Vesna Zabkar

    (University of Ljubljana, Slovenia)

  • Nenad Brkic

    (University of Sarajevo, Bosnia and Hercegovina)

  • Ismir Omeragic

    (Valicon, Slovenia)

Abstract

In order to analyze the impact of the current economic crisis on consumers of FMCG products in the Balkan region this paper investigates changes and trends in consumer values and attitudes between years 2007 and 2009 in Slovenia and Bosnia and Herzegovina. A comparison of value ranks and factor scores between the two years and two countries shows some significant differences and surprising findings in terms of changes in consumer values and attitudes, which were otherwise expected to be relatively stable over a short time period. In order to provide an insight into questions of if, why and how the crisis differently affected Slovene and Bosnian consumers, possible causes for identified differences are discussed from the theoretical and practical standpoint and several managerial implications are suggested.

Suggested Citation

  • Tomaz Kolar & Vesna Zabkar & Nenad Brkic & Ismir Omeragic, 2012. "Exploring Consumer Reactions to the Recession in Slovenia and Bosnia and Herzegovina," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 10(2 (Summer), pages 121-144.
    • Handle: RePEc:mgt:youmgt:v:10:y:2012:i:2:p:121-144
    as

    Download full text from publisher

    File URL: http://www.fm-kp.si/zalozba/ISSN/1581-6311/10_121-144.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Easaw, Joshy Z. & Garratt, Dean & Heravi, Saeed M., 2005. "Does consumer sentiment accurately forecast UK household consumption? Are there any comparisons to be made with the US?," Journal of Macroeconomics, Elsevier, vol. 27(3), pages 517-532, September.
    2. N/A, 2009. "On the Recession," Local Economy, London South Bank University, vol. 24(3), pages 253-253, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Vita Petek & Črtomir Rozman & Jasna Potočnik Topler, 2021. "When the Customer and the Wine Shelf Meet: Factors of Ethnocentrism When Selecting a Bottle of Wine," Sustainability, MDPI, vol. 13(21), pages 1-16, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tomanova, Lucie, 2013. "Exchange Rate Volatility and the Foreign Trade in CEEC," EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey 267, Ekonomik Yaklasim Association.
    2. Jean Imbs, 2010. "The First Global Recession in Decades," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 58(2), pages 327-354, December.
    3. Lídia Farré & Francesco Fasani & Hannes Mueller, 2018. "Feeling useless: the effect of unemployment on mental health in the Great Recession," IZA Journal of Labor Economics, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 7(1), pages 1-34, December.
    4. Daniel Fackler & Claus Schnabel & Joachim Wagner, 2013. "Establishment exits in Germany: the role of size and age," Small Business Economics, Springer, vol. 41(3), pages 683-700, October.
    5. Stijn Claessens & M. Ayhan Kose, 2013. "Financial Crises: Explanations, Types and Implications," CAMA Working Papers 2013-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    6. Owyang, Michael T. & Piger, Jeremy & Wall, Howard J., 2013. "Discordant city employment cycles," Regional Science and Urban Economics, Elsevier, vol. 43(2), pages 367-384.
    7. Dovern, Jonas & Jannsen, Nils, 2009. "Estimating the shape of economic crises under heterogeneity," Kiel Working Papers 1520, Kiel Institute for the World Economy (IfW Kiel).
    8. Mathilde Maurel & Gunther Schnabl, 2012. "Keynesian and Austrian Perspectives on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth," Open Economies Review, Springer, vol. 23(5), pages 847-868, November.
    9. Thomas F. Crossley & Hamish Low & Cormac O'Dea, 2013. "Household Consumption through Recent Recessions," Fiscal Studies, Institute for Fiscal Studies, vol. 34(2), pages 203-229, June.
    10. Selim Elekdag & Ibrahim Burak Kanli & Zahid Samancioglu & Cagri Sarikaya, 2010. "Finansal Stres ve Iktisadi Faaliyet," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 10(2), pages 1-8.
    11. M S Mohanty & Fabrizio Zampolli, 2009. "Government size and macroeconomic stability," BIS Quarterly Review, Bank for International Settlements, December.
    12. Tom Ferris & Theo Thomas, 2009. "Review of Public Investment Management Performance (PIMP) in an Economic Crisis," World Bank Publications - Reports 10532, The World Bank Group.
    13. McElligott, Rory & O'Brien, Martin, 2011. "Irish Money and Banking Statistics: A New Approach," Quarterly Bulletin Articles, Central Bank of Ireland, pages 107-122, January.
    14. Yabar, J., 2012. "Wait, bond, and buy : Consumer responses to economic crisis," Other publications TiSEM c4298dbe-ef10-433c-91fc-5, Tilburg University, School of Economics and Management.
    15. Erik Kole & Liesbeth Noordegraaf-Eelens & Bas Vringer, 2019. "Cognitive Biases and Consumer Sentiment," Tinbergen Institute Discussion Papers 19-031/I, Tinbergen Institute, revised 21 Mar 2023.
    16. James Copestake, 2010. "The global financial crisis of 2008-2009: an opportunity for development studies?," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(6), pages 699-713.
    17. Revoredo-Giha, Cesar & Leat, Philip M.K. & Renwick, Alan W., 2012. "The relationship between output and unemployment in Scotland: A regional analysis," Working Papers 131465, Scotland's Rural College (formerly Scottish Agricultural College), Land Economy & Environment Research Group.
    18. repec:ocp:rpaper:pp-15/18 is not listed on IDEAS
    19. Luca Agnello & Davide Furceri & Ricardo M. Sousa, 2011. "Fiscal Policy Discretion, Private Spending, and Crisis Episodes," NIPE Working Papers 31/2011, NIPE - Universidade do Minho.
    20. Benedicte Apouey & Andrew E. Clark, 2015. "Winning Big but Feeling no Better? The Effect of Lottery Prizes on Physical and Mental Health," Health Economics, John Wiley & Sons, Ltd., vol. 24(5), pages 516-538, May.
    21. Scott Payne & Jeremy Yorgason & Jeffrey Dew, 2014. "Spending Today or Saving for Tomorrow: The Influence of Family Financial Socialization on Financial Preparation for Retirement," Journal of Family and Economic Issues, Springer, vol. 35(1), pages 106-118, March.

    More about this item

    Keywords

    recession; consumers; attitudes; values; Slovenia; Bosnia and Herzegovina;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mgt:youmgt:v:10:y:2012:i:2:p:121-144. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alen Jezovnik (email available below). General contact details of provider: https://edirc.repec.org/data/fmkupsi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.