engleski

The Financial Market in Croatia

The goal of this paper is to point out the importance of developing and restructuring the financial sector by analyzing the Croatian financial system, i.e. the Croatian capital market and non-banking financial institutions, like insurance companies, pension funds and investment funds. Therefore the turnover, market capitalization and liquidity of Croatian capital market will be analyzed for the time period 1996 -2002, as well as the role and importance of non-banking financial institutions. It was found out that the turnover, market capitalization and liquidity of the Zagreb Stock Exchange is low compared to other Central and Eastern European markets. The share of non-banking financial institutions represents only about 12% of total assets of all financial institutions in Croatia, while the share of banks is about 88%.

financial market; capital market; non-banking financial intermediation institutions

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