engleski

Shaping of Croatia's financial sector following European Union model

Croatia achieved significant advancement in its financial sector in the transition period. In spite of this and in spite of its similarities with financial sectors in the European Union, Croatia's financial sector has been lagging behind the European ones in many aspects: in terms of credit institutions' structure, development of non-bank financial institutions and security markets, in the application of financial instruments and techniques, etc. Croatia's credit institution sector is the country's most developed part of the financial sector, and the one which is most compatible with Europe. However, judged by several criteria, it differs from the European credit institutions sector. With all the progress achieved, Croatia has to make additional efforts in the following period to make its financial system compatible with that of the EU, like all other accession countries. Although, the EU financial sector is an acceptable and useful model, the EU experiences have to be adopted selectively taking into account national, economic, social, cultural and other determinants, as well as the heterogeneity of the European systems, current harmonisation processes and the global and dynamic changes these systems are undergoing.

financial sector; EU model; accession countries; Croatia

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