engleski

Croatian bond markets-lessons to learn

History of capital markets in Croatia goes back to the beginning of 20th century. However, the last development started in mid of 90s. Croatian capital market in 2005 and 2006 was marked by the growth in turnover volume, in the number of trading transactions and the value of market indices, to the greatest extent as a result of the rise in liquidity of institutional investors, especially pension funds. The very important submarket is the bond market. Government bonds dominate Croatian bond market. Ministry of Finance was firstly oriented on foreign markets, but in last few years all governmental issues were domestic ones. The development of corporate bond market started during 2002. Corporate bonds have recorded substantial growth in the year 2004 and especially in 2006. Besides the corporate bonds market segment, municipal bond market started to develop in last few years. Up until now there were only four municipal bond issuances in Croatia. The aim of this research is to analyze bond markets in the Republic of Croatia and to compare findings with other Central and Eastern European countries.

bond markets ; goverment bonds ; corporate bonds ; municipal bonds

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