The efficiency and regulation of financial institutions in function of the development of Croatian economy
Principal investigator: Prof. Bojana Olgić Draženović, PhD - EFRI
Co-investigators
Prof. Vesna Buterin PhD - EFRI
Prof. Zdenko Prohaska PhD - EFRI
Prof. Dario Maradin PhD - EFRI
Prof. Sabina Hodžić PhD - Faculty of Tourism and Hospitality Management , University of Rijeka
Prof. Slađana Benković PhD - Faculty of Organizational Sciences, University of Belgrade, Serbia
Prof. Tomasz Schabek PhD - University of Lodz, Faculty of Economics and Sociology, Poland
Co-investigators
Prof. Vesna Buterin PhD - EFRI
Prof. Zdenko Prohaska PhD - EFRI
Prof. Dario Maradin PhD - EFRI
Prof. Sabina Hodžić PhD - Faculty of Tourism and Hospitality Management , University of Rijeka
Prof. Slađana Benković PhD - Faculty of Organizational Sciences, University of Belgrade, Serbia
Prof. Tomasz Schabek PhD - University of Lodz, Faculty of Economics and Sociology, Poland
Prof. Goran Karanović, PHD - FMTU
Doctoral students
Stella Suljić Nikolaj - EFRI
Draženka Draženović Kostelac - Croatian Bank for Reconstruction and Development
Doctoral students
Stella Suljić Nikolaj - EFRI
Draženka Draženović Kostelac - Croatian Bank for Reconstruction and Development
Summary
Well developed, regulated and efficient financial system is
essential for each national economy due to the ability to overcome market
imperfections and minimize systemic risks. A properly designed regulatory
framework ensures the stability and liquidity of the financial system and
promotes competitiveness and market efficiency. The past decade has been marked
by re-examining the functioning of financial systems and regulatory frameworks
in the light of globalization processes, deregulation of financial markets and
the recent global financial crisis. Therefore, it seemed necessary to
investigate the existing EU regulation and supervision system and deposit
insurance system as the cornerstones of the financial stability. The project
will also examine the efficiency of deposit and non-deposit financial
institutions in EU member states, but also in countries of South East Europe of
less developed financial systems. Measurement of efficiency in the context of
the financial industry by the data envelopment analysis (DEA) is increasingly
used in numerous scientific studies instead of analyzing traditional measures of
financial institutions' performance. The project will explore the structure and
performance of deposit (banks) and non-deposit financial institutions
(investment funds, pension funds and insurance companies), as well as their
legislative and institutional framework in the domestic financial system.
Project idea is based on the assumption that institutional framework and
financial institutions development should be incentives for further development
and improvement of the financial system. The main goal of the project is to
address the financial stability, in particular the features of the deposit
insurance system and the regulatory framework in the EU, and to assess the
characteristics and efficiency of the financial institutions in the Republic of
Croatia in order to improve the socio-economic effects and development of the
domestic economy
