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The starting points of new economic policy in the conditions of recession

Ivo Sever (), Zoran Aralica, Zvonimir Baletic (), Sasa Drezgic (), Vladimir Lasic (), Joze Mencinger (), Davor Savin (), Dragoljub Stojanov (), Mato Bartoluci (), Stjepan Zdunic (), Saša Žiković, Branko Caratan () and Branimir Lokin ()
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Ivo Sever: University of Rijeka, Faculty of Economics, Rijeka, Croatia
Zvonimir Baletic: Insitute of Economics, Zagreb, Croatia
Vladimir Lasic: Institute of Economics, Zagreb, Croatia
Joze Mencinger: University of Ljubljana, Faculty of Law, Ljubljana, Slovenia
Davor Savin: University of Maribor, Faculty of Economics and Business, Maribor,Slovenia
Dragoljub Stojanov: University of Rijeka, Faculty of Economics, Rijeka, Croatia
Mato Bartoluci: University of Zagreb, Faculty of Economics, Zagreb, Croatia
Stjepan Zdunic: Intitute of Economics, Zagreb, Croatia
Branko Caratan: University of Zagreb, Faculty of Political Science, Zagreb, Croatia
Branimir Lokin: Croatian Chamber of Economy, Zagreb, Croatia

Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, 2009, vol. 27, issue 2, 217-262

Abstract: The purpose of this research is to recommend theoretical and program basis for the new economic policy for the purposes of overcoming the recession and enabling the recovery of production in the Croatian economy. Furthermore, the goal is to show that the results of this study provide the economic policy with a guidance to the consistent and direct answer on relevant issues in resolving the undesired state of economy. This includes other issues relevant for the society as well. The achievement of these goals is feasible by scientific method of analysis incorporated by activities of economic policy based on fundaments of modern theory. This refers to its fiscal and monetary content in particular and their modern pragmatism. The results of the research show that the causes of recession and economic crisis in Croatia only partly refer to the external origin, and are dominated by internal factors. Among those factors the crucial one is the application of the so called stabilization program in 1993 and related policy of overvalued and stable exchange rate. The main conclusion of the research is that it is necessary to abandon the neoliberal concept of economic policy and its monetarist content (anchor policy). Without such an action it is not possible to stop recession and direct production towards recovery.

Keywords: recession; goal; economic policy; government finance; means of economic policy (search for similar items in EconPapers)
JEL-codes: E02 E21 E22 E23 E24 E31 E50 E62 G01 H0 (search for similar items in EconPapers)
Date: 2009
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Handle: RePEc:rfe:zbefri:v:27:y:2009:i:2:p:217-262