Državna jamstva odobrena institucijama javnog sektora posredstvom Hrvatske banke za obnovu i razvitak

master's thesis

• Title (english): State guarantees to public sector institutions approved through Croatian bank for reconstruction and development
• Author: Maja Dumbović
• Mentor: Anto Bajo (mentor)
• Committee member: Boris Cota (predsjednik povjerenstva)
• Committee member: Marko Primorac (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2015-09-29, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics

Abstract

Državna jamstva posredstvom HBOR-a odobravana su uglavnom onim poduzećima u većinskom državnom vlasništvu koja ostvaruju negativan poslovni rezultat. Bez državne potpore ta se poduzeća ne bi mogla zaduživati u pokušaju oporavka i nastavka poslovanja. Najveći dio jamstava odobren je sektoru brodogradnje. „Tradicionalni gubitaši“ u državnim su jamstvima našli sigurnost te se nastavlja difuzija odgovornosti zbog saznanja kako država u potpunosti jamči za njihove obveze. Većina brodogradilišta, kao i ostala državna poduzeća „osigurana“ državnim jamstvima, predstavlja prijetnju stabilnosti državnih financija i fiskalne politike. Iako državna jamstva odobrena institucijama javnog sektora posredstvom HBOR-a nemaju značajan utjecaj na porast javnog duga RH, i dalje postoji potreba uključenja jamstava u fiskalne analize kako bi se povećala transparentnost izdavanja jamstava i odgovornije postupalo s državnim financijama.

Abstract (english)

State guarantees through HBOR are mostly approved to those companies that are in majority ownership by the state, which generates a negative operating result. Without the state's support those companies would not be able to borrow in an attempt of recovery and continuation of business. Most of the guarantees were approved to the shipbuilding sector. "Traditional losers" in state guarantees found safety and continued the diffusion of responsibility in the knowledge that the state is fully liable for its obligations. Most of the shipyards, as well as other state-owned companies "secured" by government guarantees, represent a threat to the stability of state finances and fiscal policy. While state guarantees approved to the public sector institutions through HBOR have not a significant impact on the growth of public debt of Croatia, there is still a need for inclusion of guarantees in fiscal analysis to enhance the transparency of the issuance of guarantees and responsible handling of state finances.

• Keywords: jamstvo; država; protest; javni dug; Hrvatska banka za obnovu i razvoj
• Keywords (english): guarantee; state; protest; public debt; Croatian bank for reconstruction and development
• Language: croatian
• URN:NBN: urn:nbn:hr:148:327905
• Study programme: Title: Business Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2016-09-26 12:39:38