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Economic Development of Former Yugoslav Countries

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015

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  • Kresojević, Saša

Abstract

In this paper, it will be discussed about economic development of former Yugoslav countries before and after the war (1990-1995) in those countries. Before the war, Socialist Federal Republic Yugoslavia has performed well until death (1980) of Yugoslavian leader Tito. The peak of living standard in Yugoslavia in that time was in 1979, with Gross domestic product per capita converted in 2013 year value of money was 10,090$. Many citizens in SFRY remember that period as “old good days”, but there was significant disparity in GDP per capita between six republics. GDP per capita in economically strongest republic Slovenia was higher than GDP per capita in weakest country Bosnia and Herzegovina for 191.3%, After Tito's death SFRY was performing constant negative growth. After the war, six republics left into transition process which has resulted with private owned economy with concept of liberalism. Nowadays, highest average GDP in those countries was in 2008, year before than world economic crisis came, with value of 11,064 converted $ and in 2013 it was 9,174 converted $.

Suggested Citation

  • Kresojević, Saša, 2015. "Economic Development of Former Yugoslav Countries," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2015), Kotor, Montengero, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015, pages 446-452, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr15:183681
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    File URL: https://www.econstor.eu/bitstream/10419/183681/1/61-ENT-2015-Kresojevic-pp-446-452.pdf
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    References listed on IDEAS

    as
    1. Christian Bjørnskov & Martin Paldam, 2009. "The spirits of capitalism and socialism. A cross-country study of ideology," Economics Working Papers 2009-18, Department of Economics and Business Economics, Aarhus University.
    2. Saul Estrin, 1991. "Yugoslavia: The Case of Self-Managing Market Socialism," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 187-194, Fall.
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    More about this item

    Keywords

    economic development; war; GDP per capita; real growth; living standard;
    All these keywords.

    JEL classification:

    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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