FINANCIAL SYSTEM IMPACT ON EFFECTS OF ECONOMIC CRISIS

Potem ko so Slovenijo pred izbruhom finančne krize pogosto omenjali kot uspešno novo državo članico EU, se v zadnjem času vse pogosteje omenja skupaj z državami, ki so Evropsko unijo že – ali pa še bodo – zaprosile za finančno pomoč. Med njimi niso več samo tiste države, ki so si v preteklih letih zaradi neučinkovite javnofinančne politike nakopičile občutne dolgove. Finančna kriza je namreč pokazala tudi druga tveganja, ki so se v času konjunkturnih gibanj nakopičila v gospodarstvu držav članic EU. Tako je poleg javnofinančnih razmer bolj izpostavljeno tudi stanje v finančnem sistemu, katerega osnovna naloga je učinkovito zagotavljanje finančnih sredstev gospodarstvu. Rezultati klastrske analize in modelov ANOVA, ki sem jih uporabil v magistrski nalogi, kažejo, da razmere v finančnem sistemu močno vplivajo na učinke finančne krize na posamezne države članice EU. Tako je tudi Slovenija v primerjavi z drugimi državami članicami beležila podpovprečne stopnje rasti in s tem začela gospodarsko relativno zaostajati.Before the financial turmoil Slovenia was usually mentioned as an example of a successful new EU Member State, recently it has been increasingly mentioned in the context of countries that have already or will apply for EU financial assistance. This group no longer includes only countries with inefficient fiscal policy and consequently considerable debts. The financial crisis has also shown some risks which were accumulated during the economic prosperity in the EU Member States. In addition to the fiscal situation the situation in the financial system, whose main task is efficiently providing financial assets to the economy, has become more exposed. The results of the cluster analysis and ANOVA models, which I used to prove my master`s thesis, show that the situation in the financial system is strongly influenced on the effects of the financial crisis on the individual EU Member States. Therefore Slovenia recorded lower growth rates of GDP compared to the average of the EU Member States and started widening the development gap