Households' wealth distribution in Croatia

Published: 27/3/2020
Publication Working Papers
Issue I-57
Author Marina Kunovac
Date March 2020
JEL D1, D31, C35
ISSN 1334-0131


survey data, Household Finance and Consumption Survey (HFCS), household net wealth, inequality, and intergenerational transfers


This paper uses Household Finance and Consumption Survey (HFCS) data to analyze the main components and distribution of households' net wealth in Croatia, taking into account different sociodemographic characteristics of the households. The main results show that real assets are widely spread across households with 85% of the households owning the household main residence (HMR), while on other hand, financial assets and liabilities are concentrated among wealthier households. The analysis of the main determinants of household position in the wealth distribution additionally highlighted the importance of the HMR. Households owning the HMR, independently of the exact way of its acquisition, are less likely to be in the lowest quintile group according to the net wealth value, while households with the HMR located in the city of Zagreb or Adriatic municipalities have a higher probability of being in higher quintile groups according to the net wealth value. Level of income, education, labour market status and age group of the household reference person are also important determinants of household position in net wealth distribution.