engleski

Challenges for small national economies in the 21st century

Changes that occur in the modern world impose new challenges for national economies. The current socio-economic order is facing collapse. The project of creating a global world is facing collapse. Free trade, the single global market, freedom of circulation of capital today are more vulnerable than ever. The abolition of free trade, the termination of the liberalization of international capital markets today are more certain. After 30 years of development of international globalization processes, it now comes a period of stagnation. Protectionism and economic nationalism are terms that are reused again as the prevailing mindset in leading economies and no. 1 'free' economic system of the world – the United States. The new leader of economic freedom, to universal astonishment, becomes China. All the subsequent results in order to redefine the national economic policies, especially small national economy such as Croatian. So far, small national economies based their economic growth and economic development primarily on liberalization and the principles of free trade. These principles have enabled small national economies access to national markets of large economies, as well as reverse circulation of capital from developed to undeveloped national economies. Now everything is put into question. Lately, countries (markets) that have a population (national market) of 200 milion inhabitants or more use terms like protectionism and economic nationalism. At the same time, economic nationalism and protectionism directly pose a threat to the development of small national economies that have used liberalization of capital markets and free trade to increase the inflow of foreign capital and investment and increased exports of goods and services. It is now almost certain that these processes have come to an end – or so it seems? Small national economies such as Croatian now must redefine its economic development strategy. This paper tends to detect the challenges that will face small countries like Croatia in the new circumstances of economic development and social surroundings.

Protectionism, economic nationalism, national economy

A CIP catalogue record for this book is available in the Online Catalogue of the National and University Library in Zagreb as 000972655. CIP zapis je dostupan u računalnome katalogu Nacionalne i sveučilišne knjižnice u Zagrebu pod brojem 000972655.