Causes and Consequences of Economic Crisis with Special Reference to the Republic of Croatia

Diplomski rad se bavi uzrocima i posljedicama svjetske gospodarske krize iz 2008. godine te najnovije nastale pod utjecajem virusa COVID-19 s posebnim osvrtom na RH. Slom na sekundarnom tržištu hipoteka u SAD-u bio je pokretač financijske krize 2008. godine. Kriza je ubrzo poprimila razmjere svjetske veličine te utjecala na gospodarstvo zemalja diljem svijeta. Moralni hazard i visoki postotak špekulacija u kombinaciji sa nedostatkom regulacija na tržištu drugorazrednih hipotekarnih kredita, doveli su do krize koja se iz SAD-a prelila na cijeli svijet. S obzirom da je većina zemalja u ostatku svijeta ovisna o američkom gospodarstvu, brzo je došlo i do europske dužničke krize a potom i do krize u Hrvatskoj. Hrvatsko gospodarstvo je prije pojave svjetske gospodarske krize imalo ekonomske probleme te je svjetska kriza dodatno produbila iste. Potpomognut lošom političkom strukturom BDP je bio u kontinuiranom padu od 2009. sve do 2015. godine. Gotovo sve gospodarske aktivnosti u cijelom svijetu su obustavljene pojavom dosad neviđene zdravstvene krize pojavom virusa COVID-19. U vrijeme pisanja rada, predmetna kriza je i dalje u tijeku, te stoga nije moguće sagledati i interpretirati cjelokupne posljedice, no na temelju dosadašnjih reakcija u zdravstvenom i gospodarskom sustavu analizira se početan učinak COVID-19 krize na poslovne subjekte diljem svijeta, s posebnim osvrtom na Republiku Hrvatsku. Kao što je svjetska ekonomska kriza 2008. za posljedicu imala povećanje stope nezaposlenosti u Hrvatskoj tako je slučaj i sa pandemijom uzrokovanom virusom COVID-19. No ipak, hrvatsko gospodarstvo je ovu krizu uzrokovanu COVID-19 virusom dočekalo puno spremnije nego je to slučaj sa ekonomskom krizom 2008. godine. Razina zaposlenosti i međunarodna razmjena bile su zadovoljavajuće, a tržište rada prije korona krize bilo je u mnogo povoljnijem položaju.Graduation thesis deals with the causes and consequences of the global economic crisis from 2008. and the latest ones created under the influence of the COVID-19 virus with special reference to the Republic of Croatia. The collapse of the US secondary mortgage market was the driving force behind the 2008. Financial crisis. The crisis soon took on world proportions and affected the economies of countries around the world. Moral hazard and a high percentage of speculation, combined with a lack of regulation in the secondary mortgage market, have led to a crisis spilling over from the US to the entire world. Considering that most countries in rest of the world depend on the American economy, the European debt crisis quickly followed like the crisis in Croatia. Before Global economic crisis, Croatia were dealing with economic problems, and this crisis had an additional impact on Croatian economy. GDP it was in continuous decline from 2009. until 2015. Almost all economic activities around the world have been cancelled by the onset of an unprecedented health crisis when COVID-19 virus appear. At the time of writing, the crisis in question is still ongoing, and therefore it is not possible to see and interpret the overall consequences, but based on previous reactions in the health and economic system, the initial impact of the Covid-19 crisis on business around the world will be highlighted. Global economic crisis of 2008 resulted in an increase of the unemployment rate in Croatia, same scenario happend with pandemic caused by the COVID-19 virus. The Croatian economy was much more prepared for this crisis caused by the virus COVID-19 than was the case with the economic crisis in 2008. The level of employment and international trade were satisfactorily and the work market before the corona crisis were in much better position