Croatia : A Strategy for Smart, Sustainable and Inclusive Growth

Croatia`s current economic challenges include sluggish growth, excessive public spending, high unemployment, and a deteriorating external environment. Croatian economy was making a fragile recovery and dealing with slow export growth, low investmen...

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Main Author:	Madzarevic-Sujster, Sanja
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCESS TO FINANCING ADMINISTRATIVE BARRIERS AGGREGATE DEMAND BALANCE SHEET BALANCE SHEETS BANKRUPTCY BANKRUPTCY PROCESS BARRIERS TO INVESTMENTS BORROWING REQUIREMENTS BROAD MONEY BUDGET CONSTRAINTS BUSINESS CLIMATE BUSINESS CYCLE BUSINESS ENVIRONMENT CAPITAL INFLOWS CLIMATE CHANGE CONSUMER PRICE CONSUMER PRICE INDEX CONTINGENT LIABILITIES CONTRACT ENFORCEMENT CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEBT DEBT CRISIS DEBT OVERHANG ECONOMIC CONSEQUENCES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC RECOVERY ECONOMIES OF SCALE EMERGING MARKETS EMISSIONS ENABLING ENVIRONMENT ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY INTENSITY ENTERPRISE RESTRUCTURING ENTITLEMENTS ENVIRONMENTAL EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPOSURE EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SHOCKS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FUTURE GROWTH GOVERNMENT DEFICIT GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT POLICIES GOVERNMENT SUBSIDIES HIGH DEBT HIGH UNEMPLOYMENT INCOME INCOME LEVEL INFORMAL ECONOMY INVESTMENT CLIMATE JOB CREATION JOBS LABOR FORCE LABOR MARKET MACROECONOMIC STABILITY MARKET CONFIDENCE MARKET DEMAND MARKET REFORMS MARKET REGULATION NATIONAL ACCOUNTS NATIONAL DEFICIT OLD DEBT PAST DEBT PENSION PENSION REFORMS PENSIONS PER CAPITA INCOME POLICY RESPONSES POLITICAL STABILITY PRIVATE CONSUMPTION PRIVATE SECTOR CREDIT PROPERTY RIGHTS PUBLIC DEBT PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GROWTH RATES RED TAPE REFORM PROGRAM RENEWABLE ENERGY RULE OF LAW SAFETY NET SAVINGS SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT TAX TAX BURDEN TREATY UNCERTAINTIES UNEMPLOYMENT RATE WORLD FINANCIAL MARKETS
Online Access:	http://documents.worldbank.org/curated/en/2013/02/17481122/croatia-strategy-smart-sustainable-inclusive-growth-celebrating-40-years-progress http://hdl.handle.net/10986/17037

id	okr-10986-17037
recordtype	oai_dc
spelling	okr-10986-170372021-04-23T14:03:33Z Croatia : A Strategy for Smart, Sustainable and Inclusive Growth Madzarevic-Sujster, Sanja ACCESS TO FINANCING ADMINISTRATIVE BARRIERS AGGREGATE DEMAND BALANCE SHEET BALANCE SHEETS BANKRUPTCY BANKRUPTCY PROCESS BARRIERS TO INVESTMENTS BORROWING REQUIREMENTS BROAD MONEY BUDGET CONSTRAINTS BUSINESS CLIMATE BUSINESS CYCLE BUSINESS ENVIRONMENT CAPITAL INFLOWS CLIMATE CHANGE CONSUMER PRICE CONSUMER PRICE INDEX CONTINGENT LIABILITIES CONTRACT ENFORCEMENT CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEBT DEBT CRISIS DEBT OVERHANG ECONOMIC CONSEQUENCES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC RECOVERY ECONOMIES OF SCALE EMERGING MARKETS EMISSIONS ENABLING ENVIRONMENT ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY INTENSITY ENTERPRISE RESTRUCTURING ENTITLEMENTS ENVIRONMENTAL EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPOSURE EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SHOCKS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FUTURE GROWTH GOVERNMENT DEFICIT GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT POLICIES GOVERNMENT SUBSIDIES HIGH DEBT HIGH UNEMPLOYMENT INCOME INCOME LEVEL INFORMAL ECONOMY INVESTMENT CLIMATE JOB CREATION JOBS LABOR FORCE LABOR MARKET MACROECONOMIC STABILITY MARKET CONFIDENCE MARKET DEMAND MARKET REFORMS MARKET REGULATION NATIONAL ACCOUNTS NATIONAL DEFICIT OLD DEBT PAST DEBT PENSION PENSION REFORMS PENSIONS PER CAPITA INCOME POLICY RESPONSES POLITICAL STABILITY PRIVATE CONSUMPTION PRIVATE SECTOR CREDIT PROPERTY RIGHTS PUBLIC DEBT PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GROWTH RATES RED TAPE REFORM PROGRAM RENEWABLE ENERGY RULE OF LAW SAFETY NET SAVINGS SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT TAX TAX BURDEN TREATY UNCERTAINTIES UNEMPLOYMENT RATE WORLD FINANCIAL MARKETS Croatia`s current economic challenges include sluggish growth, excessive public spending, high unemployment, and a deteriorating external environment. Croatian economy was making a fragile recovery and dealing with slow export growth, low investment, and persistent unemployment. At the end of 2011, Croatia gross domestic product (GDP) per capita (in purchasing power terms) declined to 61 percent average, a loss of 2 percentage points since 2008.The country incomplete structural reform agenda needs attention and action to promote greater competitiveness and a shift to productivity-based, private sector-led growth. It also faces the strategic challenge of maximizing the benefits of European Union (EU) membership, especially in terms of access to markets and the use of EU structural funds, requiring structural changes in the social sectors, education system, and business environment. Accelerating economic recovery requires Croatia to complete its currently unfinished structural reform agenda and shift to productivity-based, private sector-led growth. The government could also do more to: (i) reform product market regulation; (ii) remove administrative barriers to investments; (iii) reduce the logistics costs in trade; (iv) make the bankruptcy process more efficient; and (v) modernize contract enforcement and property rights. 2014-02-12T19:32:39Z 2014-02-12T19:32:39Z 2013-02 http://documents.worldbank.org/curated/en/2013/02/17481122/croatia-strategy-smart-sustainable-inclusive-growth-celebrating-40-years-progress http://hdl.handle.net/10986/17037 English en_US Europe and Central Asia Knowledge Brief; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Brief Publications & Research Europe and Central Asia Croatia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO FINANCING ADMINISTRATIVE BARRIERS AGGREGATE DEMAND BALANCE SHEET BALANCE SHEETS BANKRUPTCY BANKRUPTCY PROCESS BARRIERS TO INVESTMENTS BORROWING REQUIREMENTS BROAD MONEY BUDGET CONSTRAINTS BUSINESS CLIMATE BUSINESS CYCLE BUSINESS ENVIRONMENT CAPITAL INFLOWS CLIMATE CHANGE CONSUMER PRICE CONSUMER PRICE INDEX CONTINGENT LIABILITIES CONTRACT ENFORCEMENT CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEBT DEBT CRISIS DEBT OVERHANG ECONOMIC CONSEQUENCES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC RECOVERY ECONOMIES OF SCALE EMERGING MARKETS EMISSIONS ENABLING ENVIRONMENT ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY INTENSITY ENTERPRISE RESTRUCTURING ENTITLEMENTS ENVIRONMENTAL EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPOSURE EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SHOCKS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FUTURE GROWTH GOVERNMENT DEFICIT GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT POLICIES GOVERNMENT SUBSIDIES HIGH DEBT HIGH UNEMPLOYMENT INCOME INCOME LEVEL INFORMAL ECONOMY INVESTMENT CLIMATE JOB CREATION JOBS LABOR FORCE LABOR MARKET MACROECONOMIC STABILITY MARKET CONFIDENCE MARKET DEMAND MARKET REFORMS MARKET REGULATION NATIONAL ACCOUNTS NATIONAL DEFICIT OLD DEBT PAST DEBT PENSION PENSION REFORMS PENSIONS PER CAPITA INCOME POLICY RESPONSES POLITICAL STABILITY PRIVATE CONSUMPTION PRIVATE SECTOR CREDIT PROPERTY RIGHTS PUBLIC DEBT PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GROWTH RATES RED TAPE REFORM PROGRAM RENEWABLE ENERGY RULE OF LAW SAFETY NET SAVINGS SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT TAX TAX BURDEN TREATY UNCERTAINTIES UNEMPLOYMENT RATE WORLD FINANCIAL MARKETS
spellingShingle	ACCESS TO FINANCING ADMINISTRATIVE BARRIERS AGGREGATE DEMAND BALANCE SHEET BALANCE SHEETS BANKRUPTCY BANKRUPTCY PROCESS BARRIERS TO INVESTMENTS BORROWING REQUIREMENTS BROAD MONEY BUDGET CONSTRAINTS BUSINESS CLIMATE BUSINESS CYCLE BUSINESS ENVIRONMENT CAPITAL INFLOWS CLIMATE CHANGE CONSUMER PRICE CONSUMER PRICE INDEX CONTINGENT LIABILITIES CONTRACT ENFORCEMENT CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEBT DEBT CRISIS DEBT OVERHANG ECONOMIC CONSEQUENCES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC RECOVERY ECONOMIES OF SCALE EMERGING MARKETS EMISSIONS ENABLING ENVIRONMENT ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY INTENSITY ENTERPRISE RESTRUCTURING ENTITLEMENTS ENVIRONMENTAL EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPOSURE EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PROBLEMS FINANCIAL RESOURCES FINANCIAL SHOCKS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FUTURE GROWTH GOVERNMENT DEFICIT GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT POLICIES GOVERNMENT SUBSIDIES HIGH DEBT HIGH UNEMPLOYMENT INCOME INCOME LEVEL INFORMAL ECONOMY INVESTMENT CLIMATE JOB CREATION JOBS LABOR FORCE LABOR MARKET MACROECONOMIC STABILITY MARKET CONFIDENCE MARKET DEMAND MARKET REFORMS MARKET REGULATION NATIONAL ACCOUNTS NATIONAL DEFICIT OLD DEBT PAST DEBT PENSION PENSION REFORMS PENSIONS PER CAPITA INCOME POLICY RESPONSES POLITICAL STABILITY PRIVATE CONSUMPTION PRIVATE SECTOR CREDIT PROPERTY RIGHTS PUBLIC DEBT PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GROWTH RATES RED TAPE REFORM PROGRAM RENEWABLE ENERGY RULE OF LAW SAFETY NET SAVINGS SOCIAL PROTECTION SOCIAL SAFETY NET SOVEREIGN DEBT TAX TAX BURDEN TREATY UNCERTAINTIES UNEMPLOYMENT RATE WORLD FINANCIAL MARKETS Madzarevic-Sujster, Sanja Croatia : A Strategy for Smart, Sustainable and Inclusive Growth
geographic_facet	Europe and Central Asia Croatia
relation	Europe and Central Asia Knowledge Brief;
description	Croatia`s current economic challenges include sluggish growth, excessive public spending, high unemployment, and a deteriorating external environment. Croatian economy was making a fragile recovery and dealing with slow export growth, low investment, and persistent unemployment. At the end of 2011, Croatia gross domestic product (GDP) per capita (in purchasing power terms) declined to 61 percent average, a loss of 2 percentage points since 2008.The country incomplete structural reform agenda needs attention and action to promote greater competitiveness and a shift to productivity-based, private sector-led growth. It also faces the strategic challenge of maximizing the benefits of European Union (EU) membership, especially in terms of access to markets and the use of EU structural funds, requiring structural changes in the social sectors, education system, and business environment. Accelerating economic recovery requires Croatia to complete its currently unfinished structural reform agenda and shift to productivity-based, private sector-led growth. The government could also do more to: (i) reform product market regulation; (ii) remove administrative barriers to investments; (iii) reduce the logistics costs in trade; (iv) make the bankruptcy process more efficient; and (v) modernize contract enforcement and property rights.
format	Publications & Research :: Brief
author	Madzarevic-Sujster, Sanja
author_facet	Madzarevic-Sujster, Sanja
author_sort	Madzarevic-Sujster, Sanja
title	Croatia : A Strategy for Smart, Sustainable and Inclusive Growth
title_short	Croatia : A Strategy for Smart, Sustainable and Inclusive Growth
title_full	Croatia : A Strategy for Smart, Sustainable and Inclusive Growth
title_fullStr	Croatia : A Strategy for Smart, Sustainable and Inclusive Growth
title_full_unstemmed	Croatia : A Strategy for Smart, Sustainable and Inclusive Growth
title_sort	croatia : a strategy for smart, sustainable and inclusive growth
publisher	World Bank, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2013/02/17481122/croatia-strategy-smart-sustainable-inclusive-growth-celebrating-40-years-progress http://hdl.handle.net/10986/17037
_version_	1764435463697858560

Croatia : A Strategy for Smart, Sustainable and Inclusive Growth

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