knowledge-based economy i.e. information era. The state and the most of companies
still operate under the principles of the industrial era, and banking practice
does not understand the business which is not based solely on tangible assets
as collateral for credit risk. In addition, Croatian legal system does not adjust
fast enough to cope with development requirements of socio-economic system and hence
it is about 10 years behind the needs of the economy necessary to create a
modern and internationally competitive economy. However, it is not so bad.
Few leaders are trying to change the outdated paradigm of dormant Croatian
economic system through research and development in their private companies and
few “state” institutions. The future of Croatian is not in the value-losing outdated
shipyards, re-bankrupted manufacturing and processing industries with low
value-added, neither in inefficient management of national resources. Now is
the time to create a feasible economic strategy which will be based on
knowledge, skills – intangible values, creativity and education, supported and
constantly improved state-of-the-art infrastructure – and to determine measurable
goals and economic effects of such a strategy.
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