engleski

Experiences of a Mass Privatisation Programme in Croatia

The privatisation process has already seven years of experience in Croatia. It was in 1991 when first legislative framework came out focused primarily on transformation on socially owned assets into transparent ownership. Socially owned enterpsises represented at that time nearly 90% of the Croatians' Gross Domestic Product (GDP). Ownership transformation is and is still strongly managed by the state. At least three phases of privatisation process can be fully observed. This work will concentrate on the third phase. The new privatisation Law came up in 1996 and the Croatian parliament passed the restitution law in the same year up in 1996 after some delay. Along this process, the voucher privatisation programme began, i.e. 'mini' mass privatisation programe during the 1997. In here, some of the first results are examined. There is a general economic opinion that the privatisation process in the next two years will depend on the success of the mass privatisation programme. The focus of this study is a contribution on the understanding on the mass privatisation programme for the future privatisation development in Croatia.

privatisation; investment funds; corporate governance

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