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Financial Indiscipline

In: The Yugoslav Economy under Self-Management

Author

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  • Ljubo Sirc

Abstract

In the 1950s, when wages were closely restricted, monetary and credit policies were intended to prevent unwarranted investment and stockpiling, so that it was legitimate even then to claim that credit was one of the most important problems of the Yugoslav economy (118, p. 234). But credit was instead used to allow enterprises producing items not in demand to continue their operations so that it was turned into concealed subsidies (see p. 22). Regular repayment of credits should have been required (Mincev, Ep 4.3.61) but was not.

Suggested Citation

  • Ljubo Sirc, 1979. "Financial Indiscipline," Palgrave Macmillan Books, in: The Yugoslav Economy under Self-Management, chapter 10, pages 146-161, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-04093-3_10
    DOI: 10.1007/978-1-349-04093-3_10
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