Croatian Economy Challenges in the Posttransitional Period

Current global economic trends create a new economic environment for Croatia. They could be described, by two processes amongst others. The first is clear enough abandonment of basic determinants of transitional economic policy defined as ‘Washington consensus’. Change of ‘tide’ could be observed in...

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Bibliographic Details
Published in:Zagreb International Review of Economics & Business 2008-11, Vol.11 (2), p.95
Main Authors: Družić, Ivo, Raguž, Irena, Tolić, Ivan
Format: Article
Language:English
Subjects:
Croatia
posttransition
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Summary:Current global economic trends create a new economic environment for Croatia. They could be described, by two processes amongst others. The first is clear enough abandonment of basic determinants of transitional economic policy defined as ‘Washington consensus’. Change of ‘tide’ could be observed in redesigned behavior of both transition architects, International Monetary Fund and World Bank. Even before recent global crisis IMF was revising its approach towards fixed exchange rate and WB has been displaying ‘change of heart’, placing development instead of stabilization on its core agenda sheet. The other process is global financial and expected overall economic crisis seemingly comparable to the Great Depression. It will have far reaching impact on the mainstream economic paradigm.
ISSN:1331-5609
1849-1162