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The Financial Performance, Restructuring and Privatisation of the Shipyards in the Republic of Croatia

Author

Listed:
  • Anto BAJO

    (Institute of Public Finance/ Faculty of Economics and Business, University of Zagreb, Croatia)

  • Marko PRIMORAC

    (Faculty of Economics and Business, University of Zagreb, Croatia)

  • Martin HANICH

    (Faculty of Economics and Business, University of Zagreb, Croatia)

Abstract

The shipbuilding industry in Croatia has a long history. Positioned on the Adriatic sea, Dalmatia has had a long tradition of maritime commerce and shipbuilding as well as other supporting activities. Over time the Croatian shipbuilding industry has been accorded different levels of strategic importance and support by the government. However, over the period from 2011 to 2015 the industry has undergone significant restructuring and faced changes to its competitive environment. Furthermore, it has received enormous levels of state support especially as Croatia prepared for the accession to the EU. The main objective of the paper is to explain the main characteristics of the processes in which the shipyards have been restructured, of the liabilities that the state has assumed pursuant to restructuring contracts and the liabilities and responsibilities that the new owners have taken on. Explained in particular will be the impact of restructuring on employment, wages, orders and the value of jobs contracted and deliveries.

Suggested Citation

  • Anto BAJO & Marko PRIMORAC & Martin HANICH, 2018. "The Financial Performance, Restructuring and Privatisation of the Shipyards in the Republic of Croatia," CIRIEC Working Papers 1802, CIRIEC - Université de Liège.
    • Handle: RePEc:crc:wpaper:1802
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    File URL: https://www.ciriec.uliege.be/repec/WP18-02.pdf
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    More about this item

    Keywords

    shipbuilding; government guarantees; fiscal risks; restructuring; Croatia;
    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
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship

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