Naslov
Four Years in the EU: An Analysis of the EU Membership Impacts on the Croatian Economy and Developmental Perspectives

Autori
Kurečić, Petar ; Kokotović, Filip ; Mjeda, Trina

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, ostalo

Izvornik
Fulfilling the Vision: European Union Futures? EUC Booklet / - , 2017, 37-37

Skup
Fulfilling the Vision: European Union Futures? A joint EU Centres’ conference

Mjesto i datum
Melbourne, Australija, 16.10.2017. - 18.10.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Nije recenziran

Ključne riječi
Croatia, the EU, foreign direct investment (FDI), the Great Recession, competitiveness, “brain drain”

Sažetak
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.).

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Politologija

POVEZANOST RADA