Dubravko Mihaljek (Bank for International Settlements, Basel)
Abstract
This paper analyses the main macroeconomic conditions for joining the EU and the European Monetary Union (EMU), the readiness of the Croatian economy to meet these conditions, and the main challenges for economic policy on the road to these integrations. Croatia does not lag significantly behind the other CEE countries in fulfilling the criteria for EU and EMU membership. It has certain advantages with respect to the criteria of macroeconomic stability (with the exception of the budget deficit), investment efficiency, and potential growth. However, delays in the implementation of some structural reforms, in particular the development of a securities market are estimated at about four years. The main challenges for economic policy in the run-up to EU and EMU are expected to be reducing the budget deficit and stabilising the public debt. Moreover, macroeconomic policies should remain prudent so as to strengthen external stability and maintain favourable conditions for growth.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Download reference. The following formats are available: HTML,
plain text,
BibTeX,
RIS (EndNote),
ReDIF This chapter was published in: Katarina Ott (ed.) Croatian Accession to the European Union: Economic and Legal Challenges, , chapter 2, pages 25-65, 2003.
This item is provided by Institute of Public Finance in its series Chapters in books with number
1-02.