On July 1, 2013, Croatia became the 28th member of the European Union. This achievement crowned more than a decade of macroeconomic and institutional reforms by the Croatian authorities and other stakeholders that yielded important development results. Croatia's institutions are now stronger...

Croatia's transition toward independence, and the market economy in the 1990s, exacerbated problems in the pay-as-you-go (PAYG) system, and ultimately led to its financial collapse. Although a comprehensive three-pillar reform was initiated in late 1995, implementation of the reform only began...