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Yugoslavia in the World Economy

In: Yugoslav Multinationals Abroad

Author

Listed:
  • Patrick Artisien

    (University of Cardiff
    European Institute of Public Administration
    Centre for International Cooperation and Development)

  • Carl H. McMillan

    (Carleton University)

  • Matija Rojec

    (Centre for International Cooperation and Development)

Abstract

Yugoslavia displays the features of an economy at the ‘middle’ stage of development: on the one hand, rapid industrialisation and urbanisation, combined with a low population growth in the postwar period, until recently resulted in marked improvements in living standards. Between 1965 and the early 1980s, the growth in Gross Social Product (GSP) averaged 6 per cent per annum, whilst the ratio of investment to GSP, at 28 per cent per annum, was higher than that of any OECD country with the exception of Japan. On the other hand, there is still a per caput GSP much below that of most OECD countries, high unemployment and underemployment, and severe regional disparities. The above predicament, shared by many less developed countries, was exacerbated in the case of Yugoslavia by the political and economic constraints that the ideological break with the Cominform in 1948 imposed on economic development in the 1950s and the first half of the 1960s.

Suggested Citation

  • Patrick Artisien & Carl H. McMillan & Matija Rojec, 1992. "Yugoslavia in the World Economy," Palgrave Macmillan Books, in: Yugoslav Multinationals Abroad, chapter 3, pages 23-37, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12128-1_3
    DOI: 10.1007/978-1-349-12128-1_3
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