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Privatisation of Banks in Croatia and the Monetary Sovereignty

Author

Listed:
  • Lovre Bozina

    (Graduate School of Economics "Dr. Mijo Mirkoviæ", Pula,)

Abstract

The manner in which Croatia has allowed privileges to non-residents in the process of privatisation of companies and commercial banks has resulted in disowning of vital national institutions on one hand and involved foreign accounting agencies in valuation of companies, and banks to ascertain the ownership on the other. The link between the non-financial companies and the banks is visible from their balance sheets. This very link has caused serious social conflicts and made difficult for the government to finance major investment projects. Domestic and foreign debt has increased resulting in serious monetary consequences for the country.

Suggested Citation

  • Lovre Bozina, 2005. "Privatisation of Banks in Croatia and the Monetary Sovereignty," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 8(2), pages 61-72, November.
    • Handle: RePEc:zag:zirebs:v:8:y:2005:i:2:p:61-72
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    More about this item

    Keywords

    privatisation; commercial banks; globalisation; monetary integration; monetary sovereignty;
    All these keywords.

    JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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