Quo Vadis Croatia? The Interplay of Institutions, Interests and Ideas
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The first half of our final chapter gives a brief overview of previous chapters. On the other hand, the second half deals with institutions, interests and ideas and how they mutually interact. This is important since underperforming institutions serve as one of key ingredients for explaining economic stagnation and divergence in Croatia. But what explains the emergence of these ill-suited institutions? We add interests and dominant ideas to our debate. We claim that EBRD data, which we use at length, largely explain that interests alone cannot provide the full explanations of Croatia’s institutional and economic underperformance, despite their importance. Ideas matter a lot in that regard. Even more, they matter when we observe the potential avenue for change in Croatia. Fresh ideas might spearhead the reconceptualization of vested interests and unlock institutional gridlock.
KeywordsSOEs State-owned Enterprises (SOEs) Croatian National Bank (CNB) Monetary policyMonetary Policy Public Debtpublic Debt Interest Groupsinterest Groups
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