European Parliament Library

Economic Growth in Croatia :, Potential and Constraints, David Moore, Athanasios Vamvakidis

This paper examines the factors and constraints that affect recent and potential growth in Croatia, as well as policies that can influence it. On current productivity trends, it estimates Croatia's potential growth rate at 4-4½ percent, a result reasonably robust to different methodologies. To sustain growth at a higher rate in line with the authorities' aspirations, the analysis highlights the critical need to improve the business environment through further measures to reduce the administrative burden, legal uncertainties, and corruption. It also emphasizes the importance of attracting more greenfield foreign direct investment, and reforms to reduce the role of the state in the economy through fiscal consolidation and faster privatization
Table Of Contents
Contents; I. Introduction; II. Stylized Facts and the Determinants of Economic Growth; III. Potential Growth Estimates for the Croatian Economy; Tables; 1. Croatia: Potential Real GDP Growth; 2. GDP Growth and Contributions: Estimates from a Production Function for Croatia; IV. Estimating and Simulating a Growth Model for Croatia; V. Constraints on Growth: A "Growth Diagnostic" Approach; Boxes; 1. Has High External Debt Slowed Economic Reforms in Croatia?; 3. Croatia and Selected European Countries: Identified Cases of "Inside-The- Frontier" Innovations, 1997-2002
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (38 p.)
Specific Material Designation
Form Of Item

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