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Export competitiveness of the Republic of Croatia and foreign direct investment in the aftermath of global crisis

The main aim of this paper is to perform a detailed analysis of dynamic and structural characteristics of the Croatian foreign trade with the EU and the rest of the world in the aftermath of the outbreak of the global economic crisis of 2007, in order to quantify the impact of the global crisis and impact of the Croatian accession to the EU in mid-2013 on competitiveness of the Croatian export-oriented economy. Given that the Croatian exports after the outbreak of the global economic crisis and the crisis in the Euroarea stagnated (due to weakened demand from our major trading partners), Croatia has been given a new chance for export expansion in mid-July 2013, when it became the 28th EU member state of the EU. More precisely, Croatian exporters were given an extra boost in the form of the opening of a large common EU market and this opportunity should not be missed. If they take advantage of this opportunity, they will increase its exports and therefore economic growth, but only in case if identified competitive disadvantages of Croatian exports before 2007 will be solved. As export competitiveness is largely linked with the level of investment, an additional objective of this research is to analyze the dynamics and structure of foreign direct investment (FDI) in Croatia in the period aftermath the global crisis.

exports ; competitiveness ; market access ; economic integration ; open economy macroeconomics ; foreign direct investment

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