This paper assesses the relative efficiency of government spending on health care and education in Croatia by using the so-called Data Envelopment Analysis. The analysis finds evidence of significant inefficiencies in Croatia''s spending on health care and education, related to inadequate cost...

The staff report for the First Review Under the Stand-By Arrangement on the Republic of Croatia focuses on fiscal policy and monetary and financial sector policies. Financial soundness indicators show a continuation of the overall strengthening of the banking system, although foreign...

This 2002 Article IV Consultation highlights that Croatia experienced solid growth in the last two years, with growth rates of about 4 percent exceeding those of the euro area and of many other transition countries. The recovery, initially propelled by private consumption and exports, has more...

The Croatian authorities are likely to either meet or exceed the original growth, inflation, and international reserves objectives under the Stand-By Arrangement. Executive Directors commended the program, and stressed the need to maintain fiscal sustainability, and reduce public wages and...

The 2002 Financial Stability Assessment Program (FSAP) found that the Croatian financial system was resilient, but vulnerabilities remain. The authorities have been proactive in addressing macroeconomic and financial vulnerabilities associated with rapid credit growth and have also taken...

Croatia's economic growth accelerated, but external imbalances continued to increase. Executive Directors commended the strong performance accompanied by commendable prudent policies and continued strengthening of financial supervision. They emphasized the need for continued policy efforts to...

The staff report for the Second Review Under the Stand-By Arrangement (SBA) on the Republic of Croatia highlights fiscal policy and monetary and financial sector policies. The policy implementation under this SBA has yielded sizable fiscal consolidation and advances in structural reforms,...

The first analysis focuses on external stability, an important issue in view of Croatia’s external imbalances and the requirements of the IMF’s 2007 Decision on Bilateral Surveillance. The paper shows that the real exchange rate is broadly in line with economic fundamentals and that external...

The report provides the third Review of the Republic of Croatia Under the Stand-By Arrangement (SBA). Policies under the SBA have sought to reduce Croatia’s savings-investment imbalance and stabilize the external debt-to-GDP ratio. Executive Directors agreed that the main success of the...

This Selected Issues and Statistical Appendix paper analyzes monetary transmission in Croatia. The evidence analyzed in this paper supports the view that monetary policy in Croatia is not an effective tool for aggregate demand management. One of the main conclusions is that financial conditions...