Suchergebnisse

Immediately after becoming independent on 15 January 1991, the Republic of Croatia became a member of the IMF. Although, as a successor of the former Yugoslavia, it had full GATT membership, and thus membership in the WTO, the Croatian government did not know how to exercise its rights and therefore had to go through the entire procedure in order to access the organisation in 2000. Presently, Croatia is the 28th Member State of the EU and has scarce information about the TTIP, the effects of which will directly affect Croatia as well as all Member States. The purpose of this paper is to realistically analyse the possible effects on our economy in relation to this globally important agreement. The TTIP is a trade agreement between the EU and the USA which has an important economic and geo-strategic interest, since its role is connecting two powerful economies and their common position on the global market as well as long-term pacesetting in relation to other regions in the world, which refers to the standard and the way of doing business. Therefore, we can conclude that the long-term strategic goal is market integration and establishment of grid plans which, once established, will not be able to undergo significant changes. The aim of this paper is to examine the default hypothesis and thus establish facts in relation to trends in international trade and its adaptation to globalization and economic changes in the world as well as its impact on Croatia. The scientific methods used in this paper are methods of systematic analysis, the dialectical and logical method, mostly in the inductive-deductive combination, and vice versa. The scientific contribution is reflected in the development of scientific thought about the importance of the effects of globalization on trade and the economy in general in the world and in Croatia.

The contemporary European integration processes are accompanied by numerous theories and activities, confrontations or approvals that can conditionally be divided into two groups, depending on the starting point of examination of each aspect of integration. The principal differences are reflected in the approach to examination of the very phenomenon, regardless of whether it is analysed from an economic or political viewpoint and the extent of the obligatorily transferred part of national sovereignty to EU authorities. In the latest development of integration processes in the European Union and other European integrations, political, economic, social and cultural significance of the particularities of individual European countries has largely been taken into account; however, the activities were directed to transferring a part of economic and political sovereignty to joint EU bodies in order to function more effectively. It is important for future economic and social development of the Republic of Croatia to form economic and political connections with European and other world integrations, especially economic ones. Until the democratically oriented government of the Republic of Croatia came into power, many mistakes had been made by the earlier political system, which had been fully insulated from the European integration processes. On its way to Europe, Croatia did not receive adequate assistance and support of more developed Western countries until January 3rd, 2000, and this especially relates to the EU integrations that had jointly defined the guidelines Croatia needed to follow in order to access the social and economic system of the Western world and accept its values. The subject of this paper are the effects of EU accession and the consequences reflected on the economic situation in the country, as well as the good and bad sides of integration processes.

Croatia, like most developing countries, is facing a shortage of capital for its economic development. Acceptance of foreign capital in the national economy should be regulated by legislative and economic regulations that would allow its unobstructed acceptance. In this process, it should be taken into account that investments should be pointed in the most favourable direction in order to encourage social development, but also ensure profit to potential investors. Foreign capital in the Croatian economy can operate in several directions: as international public capital, capital of international institutions, state capital, private capital, while in practice, there are also other forms of capital. In the present social moment, in terms of economic and legal insecurity in the country and high level of corruption, serious foreign public and private capital primarily shows interest in investing in major infrastructure facilities such as roads, ports, tourist facilities, and other facilities, and seeks to provide direct protection of the state. Croatian businessmen at lower levels of development as well as various entrepreneurs who would like to incorporate foreign capital in their business activities should make sure to use this capital in the realisation of the planned social development, and avoid foreign venture capital in the process. They should primarily demand legislation from the state that would provide them with legal and financial security of their investments. Investment experts recommend services of internationally acclaimed and reputable businesses that should be used to make investments in the country. DOI:10.5901/mjss.2015.v6n2s5p55

Immediately after becoming independent on 15 January 1991, the Republic of Croatia became a member of the IMF. Although, as a successor of the former Yugoslavia, it had full GATT membership, and thus membership in the WTO, the Croatian government did not know how to exercise its rights and therefore had to go through the entire procedure in order to access the organisation in 2000. Presently, Croatia is the 28th Member State of the EU and has scarce information about the TTIP, the effects of which will directly affect Croatia as well as all Member States. The purpose of this paper is to realistically analyse the possible effects on our economy in relation to this globally important agreement. The TTIP is a trade agreement between the EU and the USA which has an important economic and geo-strategic interest, since its role is connecting two powerful economies and their common position on the global market as well as long-term pacesetting in relation to other regions in the world, which refers to the standard and the way of doing business. Therefore, we can conclude that the long-term strategic goal is market integration and establishment of grid plans which, once established, will not be able to undergo significant changes. The aim of this paper is to examine the default hypothesis and thus establish facts in relation to trends in international trade and its adaptation to globalization and economic changes in the world as well as its impact on Croatia. The scientific methods used in this paper are methods of systematic analysis, the dialectical and logical method, mostly in the inductive-deductive combination, and vice versa. The scientific contribution is reflected in the development of scientific thought about the importance of the effects of globalization on trade and the economy in general in the world and in Croatia.

Historically & geographically, the transitional countries of Central, Eastern, & Southeastern Europe, created by the collapse of the real-socialist system, have always been oriented toward the West European markets & eager to create close economic & political ties with the EU member countries & to be integrated into the Western economic system. The EU leaders are well aware of the economic hardships these new transitional countries are faced with, & realize that it will take them several years to adjust to the new system of values & behavior. With this in mind, they came up with a proposal to create an integration of these transitional countries under the advisory leadership, & with the active help, of the EU economic agencies. One of the positive goals of the idea of integration by means of CEFTA was to establish a relatively homogeneous economic entity & create the conditions necessary for future successful economic cooperation with the EU. The cooperation of the transitional countries & the EU so far has shown some promise, but also some shortcomings, which ought to be eliminated, or at least have their negative consequences minimized. There are two types of shortcomings -- institutional & the material -- & they depend on the degree of development of a transitional country, its legal norms, & other (political, social, & cultural) noneconomic factors. 2 Tables. Adapted from the source document.

At the time of its inception, the EEC's founders already expressed their desire to institute on the territory of the future integration an economic & monetary union with the aim of creating "the United States of Europe." The 1962 program of the European Commission for the Community's Development was designed along these lines. Following a number of years of successful economic cooperation of member states, the creation of the monetary union was negotiated at the 1998 Maastricht meeting, while the beginning of the implementation was envisaged for early 1999. The 1997 Luxembourg meeting was a turning point in the EU's development. The extension of the EU was agreed upon, & the third stage of the EMU worked out. The EU's future development "in five gears" was devised, & the countries were categorized into groups according to the level in which they satisfy the conditions necessary for acceptance. Further, the EU offers to those transitional countries that satisfy the necessary conditions for further cooperation the "partnership prior to membership" a new way of cooperation that provides financial support to transitional countries to pave the way for them to join the EU. Croatia has shown interest for all kinds of links with the EU, particularly via the associate membership as a step to full membership. There is no doubt that the introduction of the new pan-European currency as well as all the changes occurring within the EU are going to affect the Croatian economy. Croatia has stepped up its preparations for getting in line with the new economic & financial developments emerging in Europe, which will be triggered by the establishment of the European Monetary Union (EMU). 13 References. Adapted from the source document.