Suchergebnisse

Twenty years after the break up of Yugoslavia, the political and economic pictures of that part of the Balkans have changed from numerous aspects. Although the transition from the Yugoslav self-management economy towards the market-oriented one had started even before the country's break-up, today's economic picture of the Yugoslav space has been shaped by the new countries' transition paths, policies and outcomes. Each of the new states has tried to design and implement policies in accordance with its political and economic choices but with a varying degree of success. After briefly reviewing research on transition and some of the explanations for the transition disparities, the paper will focus on several aspects of a new economic reality of the Yugoslav space, including the transition assessment, macroeconomic environment, creation of business friendly environment and level of government intervention, as well as regulatory environment in the former Yugoslav republics. We shall investigate the results of the transition that span from extremely successful (a member of the Euro zone) to moderate and poor results (some of the poorest countries in Europe). Also, the analysis will seek to establish differences and similarities among former Yugoslav republics in the process of building market economy during these 20 years. The analysis concludes that, regardless of the speed of liberalization and privatization, different transition outcomes have in the short run been influenced by the initial conditions, but in the long run, the most important factors have been macroeconomic policy, institutional and regulatory reforms.

Published in 1997, this study analyzes the global capital market as one of the most dynamic aspects of the world economy. As more financial markets were created, the security of the structure came under scrutiny. The book examines the crises in its history and how the global structure can be regulated.