Naslov
Public sector property management reform to enhance the economic development : Croatia and Bosnia and Herzegovina current state and international perspectives

Autori
Vašiček, Davor ; Roje, Gorana

Izvornik
Zbornik radova - Journal of economy and business (1840-3255) 2017 (2017), 23; 436-461

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, pregledni rad, znanstveni

Ključne riječi
public sector, state property, governamnet reform, economic development

Sažetak
The decisive influence on the shaping of public sector management reforms at the country level comes from two sources. The national source defines the specifics that are conditional on one country social system and economic development, as well as on country customs, historical heritage, tradition and culture. The international (EU) sources are harmonization of methodological and legislative frameworks and national public sector management practices, which further lead to both enhancing national reforms and reducing national specifics. The concept of public sector efficiency is like public sector itself complex and measurable depending on the parameters chosen to measure the efficiency with. Economically speaking, the efficiency of the public sector as an economic unit can be measured as if the subject was any other economic entity, taking into account the inputs (means invested) and output (results, benefits) ratio. The importance of conducting public sector efficiency analysis is additionally pointed out by fiscal difficulties of rising deficit and high public debt. Within the context of this paper, the IMD methodology is of much interest because it defines public sector efficiency as one of four key factors underlying the analysis of competitiveness (other three factors being economic results, the efficiency of the business sector and infrastructure). Not putting much discussion over different grades and indicators of public sector (in) efficiency in various countries in the region, former experiences and current state in Croatia and Bosnia and Herzegovina lead to the conclusion that governments, along with the lack of public sector reforms quality, have not yet fully recognized nor exploited the real state property potential. Hence, the focus of public finance management is placed on public revenues and expenditures whilst state property as an important economic resource is not given the proper importance. There is no doubt that governments should act more accountable for managing a diversified public sector asset portfolio which further result in significant public expenditure reduction and government revenues increase, and thus significantly reduce the tax burden on businesses, investors and taxpayers in general. There is also no doubt that with its membership application to the EU, Bosnia and Herzegovina needs to interpret its competitive position in European contexts. Therefore, in this paper we analyse the characteristics of public sector property management system in Croatia and Bosnia and Herzegovina. The paper in particular provides insights into the efforts of government asset management reform in Croatia which commenced in 2013, addressing both the institutional – organizational and the accounting and financial reporting aspect of the Croatian on-going reform. Exploring the similarities and differences between the current characteristics, this paper might be helpful to Bosnia and Herzegovina authorities in continuing the improvements of national public sector property management reforms.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
Special Conference Issue.

POVEZANOST RADA