Review article
https://doi.org/10.31784/zvr.10.1.15
BANKRUPTCY REGULATION AS AN INTERVENTIONIST MESURE OF ECONOMIC POLICY: CROATIAN EXPERIENCES
Dejan Bodul
; Faculty of Law, University of Rijeka, Rijeka, Croatia
Marko Tomljanović
; Faculty of Economics and Business, University of Rijeka, Rijeka, Croatia
Pavle Jakovac
orcid.org/0000-0002-0433-824X
; Faculty of Economics and Business, University of Rijeka, Rijeka, Croatia
Abstract
The prevailing view in the mainstream economic theory is that the role of the government should be in ensuring an appropriate institutional framework and political stability for the smooth running of the (free) market economy. In this sense, most political directions in the world are in favor of a free market economy. Rare are those who dare to put economic interventionism in their program, i.e., to anticipate a more significant role of the state in the economy. Nevertheless, we have witnessed that in recent years some exiled concepts such as interventionism have returned to the political vocabulary, but also to the economic practice of many EU Member States. Furthermore, over the last decade several Western European countries have intervened to preserve the “nationality” of their financial sector or leading companies. These cases do not represent isolated episodes, but are an expression of deeper, essential re-examinations of the liberal motto “minimum state - maximum market”. The aim of this paper is to analyse some of the most glaring examples of economic interventionism through bankruptcy regulations in Croatia, to look at the arguments put forward by the Government for violating liberal postulates and to present the views and reactions regarding this phenomenon.
Keywords
market economy; interventionism; bankrupcy regulation
Hrčak ID:
277787
URI
Publication date:
20.5.2022.
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