The Croatian National Bank has received the news that the 1999 Nobel prize winner for achievements in economy is professor Robert Mundell with great pleasure. The Croatian central bank is glad that Mr. Mundell was awarded this high prize not only because its officials sincerely respect and are well acquainted with the scientific work of this very esteemed analyst of monetary, fiscal and exchange rate policies, but also due to the fact that, as an economist at Columbia University (New York), Mr. Mundell has directly cooperated with the Croatian National Bank in preparations for international Dubrovnik Conferences on Transition Economies. Mr. Mundell was a member of the Scientific Board of all Dubrovnik Conferences held so far, and participated actively in the work of the conferences. Consequently, he accepted the role of a co-editor of the "Zagreb Journal of Economics".

A proof of professor Mundell's friendly relationship to Croatia is also the fact that he attended the First Dubrovnik Conference on Transition Economies in 1995, when the Dubrovnik airport was still under shell fire and the conference halls echoed the noise of aggressors' weapons. By acting in that way, this renown economist set an example that enhanced other distinguished participants in the conference to come to Dubrovnik. With regular and dedicated participation in all conferences that followed it, Mr. Mundell made the Croatian National Bank beholden to him and undoubtedly contributed to the recognition and reputation of Croatia in the world, especially in academic circles.

The title of Mr. Mundell's paper prepared for the First Dubrovnik Conference was "The Great Contractions in Transition Economies", the topics of the paper presented at the Second Dubrovnik Conference was "Monetary and Financial Market Reform in Transition Economies: the Special Case of China", and Mr. Mudnell's paper discussed at the Third Dubrovnik Conference was "Exchange Rate Arrangements in the Transition Economies". At the Fourth Dubrovnik Conference Mr. Mundell examined "The International Impact of the Euro and its Implications for Transition Economies" and at the Fifth Dubrovnik Conference held in June this year Mr. Mundell presented his view on "The Priorities for Completing the Transition and the Model for the Future."

The aforementioned titles point at the most important objectives of Robert Mundell's economic studies which he engaged in from the very beginning of his scientific career on the Chicago University in 1956. His books "Man and Economics" (1968), "International Economics" (1968) and "Monetary Theory: Interest, Inflation and Growth in the World Economy" (1971) have been published in many languages. In addition, as author or editor, Mr. Mundell participated in the creation of dozens of books that contributed tremendously to the development of economic studies.

Many of the leading world economists were Mr. Mundell's students at the University of Chicago, Stanford University, in Bologna or Geneva. During the past decades Mr. Mundell worked as advisor in a number of international institutions, such as in United Nations, International Monetary Fund, World Bank, European Economic Commission, in the Federal Reserve Bank, as well as in the US Department of Treasury. Further, he was advising the Canadian government and governments of many countries in Europe and Latin America on economic issues.