Devastation of the Croatian Capital Market - What now?

Sa？etak In this article, the author conducts an analysis of the basic indicators of the success of the only domestic capital market in the 2009-2019 time horizon. Based on the obtained results the author concludes that ZSE is faced with total devastation according to several different criteria such as the volume of trading, realized annual turnover, the number of present investors, the number of listed companies on the capital market, sectoral market capitalization and performance of the CROBEX index. This result is even more unfavorable if it is compared to the result of other world capital markets in the same period. According to the gradual improvement of the overall economic picture of the Republic of Croatia, the author argues that the realized result of the ZSE in the observed period is not so much in the sphere of the economy, but in weaknesses related to the institutional, legislative and business ethical framework. Only with their significant improvement, we can expect a better situation on the ZSE in the future