Hrvatsko društvo ekonomista

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October 2000. ::: Vol.51 No.09-10

Stjepan Zdunić

TRANSITIONAL CRISIS AND THE POLICY OF EXIT ECONOMICALLY-POLITICAL ESTIMATE Izvorni znanstveni članak The article comparatively estimates the achieved transition level of Croatian economy. The recovery of economy and growth dynamics are the estimate criteria of transitional process efficiency. Based on this is concluded that transitional crisis in Croatia is considerably deeper than in other more progressive transitional countries. The reason for this is in adequate macroeconomic policy, especially in monetary-credit and baking system. Privatization, as the element of institutional restructuring policy connected with macroeconomic policy (fiscaland monetary), is an additional cause of profundity and continuance of economic recession. The conclusion of the analysis is that exclusive reliance of our development strategy upon the policy of institutional restructuring and rigid policy of macroeconomic stabilizationin the form of stable nominal rate, initiated asymmetry inside development strategy. Since institutional restructuring in our country does not lag behind developed transitional countries, and development results are considerably inefficient, it arises conclusion of necessary shift to macroeconomic policy, esepecially monetary-credit. That would eliminate asymmetry in development strategy and achieve results like other more progressive transitional countries did. - Puni tekst (Hrvatski) Str. 809 - 828 (pdf, 93.15 KB)

TRANSITIONAL CRISIS AND THE POLICY OF EXIT ECONOMICALLY-POLITICAL ESTIMATE

Izvorni znanstveni članak

The article comparatively estimates the achieved transition level of Croatian economy. The recovery of economy and growth dynamics are the estimate criteria of transitional process efficiency. Based on this is concluded that transitional crisis in Croatia is considerably deeper than in other more progressive transitional countries. The reason for this is in adequate macroeconomic policy, especially in monetary-credit and baking system. Privatization, as the element of institutional restructuring policy connected with macroeconomic policy (fiscaland monetary), is an additional cause of profundity and continuance of economic recession. The conclusion of the analysis is that exclusive reliance of our development strategy upon the policy of institutional restructuring and rigid policy of macroeconomic stabilizationin the form of stable nominal rate, initiated asymmetry inside development strategy. Since institutional restructuring in our country does not lag behind developed transitional countries, and development results are considerably inefficient, it arises conclusion of necessary shift to macroeconomic policy, esepecially monetary-credit. That would eliminate asymmetry in development strategy and achieve results like other more progressive transitional countries did.

Puni tekst (Hrvatski) Str. 809 - 828 (pdf, 93.15 KB)