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The credit expansion in the household sector, which then stimulated the growth of personal consumption in Croatia, preceded the occurrence of the global financial crisis and the six-year recession that lasted from 2009 to 2014 in Croatia. With regard to enhanced household borrowing in the years before the crisis, there was multiplied effect caused by the inability to settle all the due liabilities in the period after the crisis. In parallel with the legal regulation, which prompted from the beginning of 2011 the F...