engleski

Privatisation in Croatia : Initial Conditions, Processes and Implications

The paper discusses the co-evolution between the privatisation process in Croatia and its socio-political context, including the socialist and wider institutional legacies, the processes of institution building and the distribution of political power during transition. The outcomes of privatisation and institution building are discussed in terms of their impact on the development of product, labour and capital markets. Privatisation in Croatia was primarily embarked upon out of political and budgetary necessity, rather than as a means towards technological and managerial upgrading of companies that would develop their competitiveness, contribute to more efficient product, labour and financial markets, and have positive impact on the economic and political integration into the European Union. Although privatisation and institution building were expected to contribute to the constitution of a strong private sector and legal and social prerequisites for its effective functioning, both of these processes have been mismanaged to a significant extent. The patterns and outcomes of privatisation have channelled broader development of the Croatian economy, and are likely to continue doing so.

privatisation, Croatia, corporate governance, institution building, market development

nije evidentirano