Four Years in the EU: An Analysis of the EU Membership Impacts on the Croatian Economy and Developmental Perspectives (CROSBI ID 657167)
Prilog sa skupa u zborniku | sažetak izlaganja sa skupa
Podaci o odgovornosti
Kurečić, Petar ; Kokotović, Filip ; Mjeda, Trina
engleski
Four Years in the EU: An Analysis of the EU Membership Impacts on the Croatian Economy and Developmental Perspectives
Four years have passed since Croatia has accessed the EU. High expectations that have arisen long before the accession, especially in the late 1990ies and early 2000ies have given way to reality, especially after the outbreak of the economic crisis. Croatia's accession to the EU should have a strong impact in creating a more favorable economic climate due to increased investor confidence. Despite the impact of the 2008 Economic Crisis and Croatia's long struggle to recover during the long aftermath of what became known as the Great Recession. Croatia struggled with recession for six years, longer than any European economy. A membership in an association of traditionally stable democratic states would be expected to benefit FDI inflows and the existence of the Excessive Deficit Procedure should provide a stabilizing influence on Croatia's public debt and budget deficit. Besides assessing the positive and negative impacts of the EU membership on Croatia, this paper aims to perform an empiric analysis of FDI inflows and other relevant macroeconomic variables, in order to assess the full impact of Croatian membership in the EU. As the most negative impact, we can emphasize “brain drain” and emigration in general, which severely decrease the prospects of development in the future and put into doubt the sustainability of Croatian healthcare system and pension system, respectively. The dilemmas are raised whether the bleak perspectives are mostly a product of the delayed EU accession to the EU, which should have occurred much earlier, or the endogenous problems, which Croatia is unable to solve for decades (low productivity and competitiveness, significant corruption, low transparency of social transfers, and clientelism etc.).
Croatia, the EU, foreign direct investment (FDI), the Great Recession, competitiveness, “brain drain”
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Podaci o prilogu
37-37.
2017.
objavljeno
Podaci o matičnoj publikaciji
Fulfilling the Vision: European Union Futures? EUC Booklet
Podaci o skupu
Fulfilling the Vision: European Union Futures? A joint EU Centres’ conference
predavanje
16.10.2017-18.10.2017
Melbourne, Australija