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Institutional aspects of transition - market competition regulation in the context of Croatia's association with the EU

After economic consolidation of transition countries in the second half of the 90s it is getting more and more obvious that inadequate institutional framework and the missing legislation present serious obstacles in achieving a long-term economic growth and stability. One of the fields in which reform countries realize significant shortcomings is the market competition legislation. Croatia began to adjust its legislation to that of the EU before establishing the institutional relations following the conclusion of the Stabilization and Association Agreement. However, the commitments arising from the Agreement, particularly concerning trade liberalization have accelerated the reform of Croatian legislation on market competition. Despite that, Croatia still shows a very low level of compatibility with the achievements of the EU in the protection of market competition. The Croatian legislation regulating the market competition is too general, imprecise and treats only the basic cases. Therefore, Croatia should develop a more detailed legislation which would be easy to implement and prevent any violation of the principles of market competition. The development of regulations which treat specific cases on market competition (e.g. transfer of technology, specialization, research and development and protection of competition in certain sectors of the economy) would also contribute to that end.

transtion; institutional reform; market competition regulation; trade liberalisation EU; Croatia

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