The Financial Performance, Restructuring and Privatisation of the Shipyards in the Republic of Croatia

Anto Bajo, Marko Primorac and Martin Hanich
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Marko Primorac: Faculty of Economics and Business, University of Zagreb, Croatia
Martin Hanich: Faculty of Economics and Business, University of Zagreb, Croatia

No 1802, CIRIEC Working Papers from CIRIEC - Université de Liège

Abstract: The shipbuilding industry in Croatia has a long history. Positioned on the Adriatic sea, Dalmatia has had a long tradition of maritime commerce and shipbuilding as well as other supporting activities. Over time the Croatian shipbuilding industry has been accorded different levels of strategic importance and support by the government. However, over the period from 2011 to 2015 the industry has undergone significant restructuring and faced changes to its competitive environment. Furthermore, it has received enormous levels of state support especially as Croatia prepared for the accession to the EU. The main objective of the paper is to explain the main characteristics of the processes in which the shipyards have been restructured, of the liabilities that the state has assumed pursuant to restructuring contracts and the liabilities and responsibilities that the new owners have taken on. Explained in particular will be the impact of restructuring on employment, wages, orders and the value of jobs contracted and deliveries.

Keywords: shipbuilding; government guarantees; fiscal risks; restructuring; Croatia (search for similar items in EconPapers)
JEL-codes: L31 L33 (search for similar items in EconPapers)
Date: 2018-02
New Economics Papers: this item is included in nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:crc:wpaper:1802

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