Naslov
Government asset management as an element of the economic prosperity in Western Balkans: Croatia's undergoing reform example

Autori
Roje, Gorana ; Vašiček, Davor ; Dragan, Mišetić

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Conference proceedings: 10th International Conference Economic Integrations, Competition and Cooperation, "Accession of the Western Balkan Region to the European Union / Kumar, A. ; Kandžija, V. - Nica : CEMAFI International, 2016, 397-422

ISBN
978-2-9544508-9-6

Skup
10th International Conference Economic Integrations, Competition and Cooperation, "Accession of the Western Balkan Region to the European Union

Mjesto i datum
Opatija, Hrvatska, 22.04.2015. - 24.04.2015

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Public sector ; efficiency ; government assets management ; state property ; Croatia

Sažetak
Public sector efficiency is one of key factors of competitiveness of the national economy. According to IMD methodology, efficiency is monitored through five complex and broad areas of public finance, fiscal policy, institutional framework, business legislation and societal framework. Raising the level of public sector efficiency is a global process, which has been acknowledged under the phrase "new public management" worldwide and in Croatia as well. In this context, a very important role in generating public sector efficiency is attributed to government asset management that needs to be observed not only as a resource for fulfilling public needs, but also as an economic resource and potential for generating public revenues. The setup of the State property management Office has generated some of the key institutional preconditions for quality asset management. This, however, posted additional dilemmas concerning assets’ accounting recognition and valuation, decisions regarding more productive asset usage, and the analysis of asset marketability possibilities. Government asset management need to be viewed directly in function of stabilization and public debt reduction. In addition, the effective government asset management is a very important generator for creating a supportive entrepreneurial environment, and raising the competitiveness of the entire economy as well. In addition to reducing the budgetary burden, efficient government asset management implies transparency that leads to legal security for investors and entrepreneurs as asset users and buyers. This, in addition to combating corruption, assures a strong contribution to the business sector efficiency, positive business climate and investment cycle initiation. The lack of reliable information on government assets obscures determining assets’ value and asset portfolio performance evaluation. Thus, any management process and government asset management, needs to be based on quality information generated by the management accounting process. The specificity of public sector management and financial reporting is often related to the specific long-term nonfinancial assets group comprising of infrastructure and military asset items, heritage assets and natural resources. The management of the specific government assets requires in-depth knowledge of accounting procedures as a precondition for a standardized application of valuation principles and methods for both private and public sector assets by comparing their closest equivalents. Starting from the concept that public authorities have to be fully accountable to the public and that the whole of government assets need and can be effectively managed, developed countries have embarked in the practice of putting into use various types of government asset items, under the supervision of professional management, with a view to ensuring quality public services and welfare to the citizens. This paper presents the international good practice and provides scientific and expertise based views in a form of valuable suggestions to current authorities’ efforts in pursuing government asset management reform in Croatia.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA