A roadmap of actions aiming at ensuring furniture industry production growth: panel analysis

摘要

This paper investigates European Commission necessary conditions for competitive industry in the context of furniture manufacturing. Namely, in the Industrial Strategy of the Republic of Croatia 2014–2020, the manufacture of furniture was assigned a strategic role. However, Croatia continues to underperform in comparison with theEuropean Union member states in terms of return to pre-crisis levels. Accordingly, using the system of generalised method of moments estimators in two steps with robust standard errors, the panel model was estimated. Econometric analysis indicates that a better access to markets, higher investment, and stable macroeconomic environmentare significant conditions for achieving production growth. Moreover, the results suggest that a furniture manufacturing sector would profit from lower energy prices.