Suchergebnisse

This paper reviews current issues in health care policy and reform in Croatia. It analyses the microeconomic foundations of health care (characteristics of health as an essential good, market and government failures in allocation of health care services); the role of health care in the process of European Union accession; the status of health care in Croatia (health status of the population, demographic trends, health care resources); microeconomic and macroeconomic aspects of
health care financing; and recent reform proposals for the health care sector. On this basis a number of recommendations for health care reform in Croatia are formulated. The proposals refer to financial sustainability of health care in the medium and long term; the mix of general taxes and mandatory health insurance contributions as sources of public funding; the mix of public and private funding; the impact of different financing instruments on the operations of health care providers; labour market effects of different financing methods; and the political economy of health care reform.

This paper investigates how one particular aspect of the freedom of movement of capital – the right of EU residents to acquire real estate in EU member states – might shape Croatia's EU accession negotiations and affect its real estate market, the tourism industry and the national economy. It identifies potential benefits and risks of unrestricted foreign investment in Croatian real estate, and attendant dilemmas for economic policies. The main conclusion is that Croatia stands to benefit in the long run from foreign investment in the property sector. However, a gradual approach to the opening-up of the real estate market to non-residents can be justified on a number of grounds. These include inadequate legislation limiting property speculation; potential spillovers of price increases from the market for secondary residences onto the local housing market (of which there is already some evidence); costs of the adjustment in the housing market and construction industry to a sudden large increase in demand for secondary residences; loss of competitiveness in the tourism industry if there should be violations of building regulations and the resulting overdevelopment of coastal areas; and macroeconomic pressures arising from large and sudden capital inflows.

This paper analyses three issues that could potentially affect macroeconomic stability and hence the speed of Croatia's accession to the European Union (EU): (i) Can the economy continue to rely on domestic demand as the main source of growth or is stronger reliance on exports necessary in the medium term? (ii) Is the external current account deficit in Croatia "excessive" and how have high deficits been corrected in the past? (iii) Does the expansion of bank credit to the private
sector carry the seeds of macroeconomic instability? The paper argues that clearer signs of healthier growth have emerged since 2000, and that the Croatian economy should be able to adjust to the widening external deficit in 2002–03 in an orderly manner. However, there are reasons to be concerned about the expansion of private sector credit, as recently it has been financed largely by foreign borrowing. Large capital inflows are likely to become the main challenges for macroeconomic policy in the run-up to Croatia's EU accession. Policy makers will in particular have to address the so-called "Tošovský dilemma", i.e., set interest rates at an appropriate level: setting them too high would invite excessive short-term inflows, while setting them too low would lead to excessive investment and thus inflation.

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.

China's economic performance hs been remarkable since the the reform process began 15 years ago. Notwithstanding the achievements that have been made, a number of serious problems remain. This papers discusses the current reform program and the effors being made to overcome the structural impediments to growth