engleski

Competitiveness Analysis of the Croatian Economy in Circumstances of Global Economic Disturbances

The global economic crisis presents a development challenge for policy makers in all countries of the world. Future development must be based on previously verified economic policies and instruments. However, the global crisis cannot be used as an excuse for long-term poorly defined and, ultimately, implemented economic policies. Croatia is increasingly gaining the characteristics of a country that is not sure in which direction it is heading, in which direction it would like to develop and which direction it can take at all. Economy is burdened with the growing total foreign debt, public debt and budget deficit. Inconsistency of industrial policy, late definition of regional development strategy, inefficiency of bureaucracy and lack of motivation on the part of an array of entities of economic infrastructure are only some of the problems due to which Croatia has failed to keep pace with other transition countries. For these reasons Croatia has also moved down the global competitiveness ladder and, direct foreign investments have stay outside its borders. The aim of this paper is to analyze the competitiveness of the Croatian economy at the time of the global economy crisis and to attempt to answer the question in which direction the Croatian economy should and can move.

global financial and economic crisis; demographic capacity; export capacity; competitiveness; new industry

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