Učinci i perspektiva sustava stambenih štedionica u Hrvatskoj

professional thesis

• Author: Filip Džapo
• Mentor: Vlado Leko (mentor)
• Committee member: Alen Stojanović (predsjednik povjerenstva)
• Committee member: Vlado Leko (član povjerenstva)
• Committee member: Anita Pavković (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2016, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Finance

Abstract

Specijalističkim radom analizira se sustav stambenih štedionica u Republici Hrvatskoj, a
istraživanje je potaknuto aktualnošću rasprave o opravdanosti postojećeg modela ugovorne
stambene štednje uz državne poticaje. U radu se hrvatski sustav uspoređuje s različitim
europskim modelima, posebno sagledavajući CEE zemlje koje su u svoje financijske sustave
implementirale usporediv njemačko-austrijski model stambenih štedionica, kao i Hrvatska.
Hrvatski model sagledan je cjelovito: na razini cjelokupnog financijskog sustava, ali i kao dio
cjelokupne stambene politike. Statističkim metodama numeričkih i vremenskih nizova
prezentirani su ključni poslovni pokazatelji štedionica, a posebno se analizira dosadašnji
učinak isplaćenih državnih poticajnih sredstava. Ukazano je na sustavne probleme i indikatore
koji upućuju na upitnu perspektivu sustava stambenih štedionica i neodrživost postojećeg
modela, a bez strukturnih promjena. Sustav je pokazao iznimnu osjetljivost na bilo kakve
promjene državnih poticajnih sredstava, ali i ovisnost o njima. Današnja razina poticaja ne
osigurava atraktivnost štednje te dovodi u pitanje opstojnost čistog depozitno-kreditnog
modela. Iz iznesenih poslovnih pokazatelja, ali i učinaka u sklopu stambene politike:
rješavanja stambenog zbrinjavanja, utjecaja na ukupno stambeno tržište, odnosno na
građevinski sektor – izvodi se zaključak da sustav stambenih štedionica nije realizirao svoje
primarne ciljeve. Moguće promjene u sustavu, kao i mogućnost njegove eliminacije iz
financijskog sustava, iznimno ovise o političkim odlukama. Temeljni preduvjet opstanka
sustava i daljnjeg razvoja jest izrada jasne i dugoročne stambene politike te definiranje uloge
stambenih štedionica kao jednog od dijelova takve politike. U tom smislu, zaključno su
navedeni scenariji za koje je izgledno da bi mogli obuhvatiti sustav stambenih štedionica u
Hrvatskoj.

Abstract (english)

This specialist thesis focuses on an analysis of the system of housing savings banks in the
Republic of Croatia. The research has been driven by the topicality of the debate about the
viability of the existing model of contractual savings for housing with state subsidies. The
Croatian system is compared to various European models, with particular reference to CEE
countries that have implemented a comparable German-Austrian housing savings bank model
into their financial systems, one of which is Croatia. The Croatian model has been thoroughly
examined: both at the level of the overall financial system and as part of the overall housing
policy. Statistical methods of numerical and time series have been used to present the key
business performance indicators for savings banks, with particular reference to the past effects
of paid state subsidies. We have pointed out the systematic problems and indicated that the
prospects for the system of housing savings banks are questionable and that the existing
model is not sustainable without structural changes. The system has shown great sensitivity to
any change of state subsidies, as well as its dependence on them. The current level of
subsidies does not secure the attractiveness of savings and it questions the viability of a sheer
loan and deposit model. The cited business performance indicators, as well as the effects
within the housing policy: solving the housing problem, the effect on the overall housing
market and the construction industry – point to the conclusion that the system of housing
savings banks has failed to realise its primary objectives. Any changes in the system and the
possibility of its elimination from the financial system are greatly dependent upon political
decisions. The basic requirement for survival of the system and its development is the creation
of a comprehensible long-term housing policy and the definition of the role of housing
savings banks as a constituent part of the policy. With this regard, the final chapter of the
thesis presents realistic scenarios that could enfold the system of housing savings banks in
Croatia.

• Keywords: stambene štedionice; stambeno zbrinjavanje; Hrvatska; stambena štednja; poticanje stambene štednje; tržišno stambeno financiranje
• Language: croatian
• URN:NBN: urn:nbn:hr:148:818815
• Study programme: Title: Financial Institutions and Markets; Study programme type: university; Study level: postgraduate specialist; Academic / professional title: sveučilišni/a specijalist/specijalistica financijskih institucija i tržišta (sveučilišni/a specijalist/specijalistica financijskih institucija i tržišta)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Public note: Ključne riječi dodijelio knjižničar.
• Created on: 2016-11-18 09:11:17