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Ten Years of Privatization: Lessons for Yugoslavia

Listed author(s):
  • Jovanovic Aleksandra

    (University of Belgrade)

  • Mijatovic Bosko

    (Economic Institute, Belgrade and Center for Liberal Democratic Studies, Belgrade)

Registered author(s):

    Since the latest political changes, the FRY (the exposition is predominantly pertinent to the Republic of Serbia) faces a choice of a transition strategy and privatization model whithin it. After ten years of transition in East Europen countries, well established patterns in marked oriented reforms and subsequent results are observed and could serve as policy lessons for the FRY. Regarding the significant impact that initial conditions have on efforts and results of transition macroeconomic policy and structural reform implementation, the paper presents the prevailing institutional setting of the Yugoslav economy inherited from the communist regime. Also, the ten years of Yugoslav privatization experience is reported to have weak results due to the poor concept. Debates on privatization, as well on structural reforms and macroeconomic policy, have again become lively in the FRY.Depuis les derniers changements politiques, la République Fédérale de Yougoslavie (larticle aborde essentiellement la République de Serbie) fait face à un choix de stratégies de transition et de modèles de privatisation. Après dix années de transition dans les pays de lEurope de lEst, des schémas bien établis de réformes menant à léconomie de marché et les résultats qui en découlent sont observés et pourraient servir de leçon pour la République Fédérale de Yougoslavie sur le plan politique. Eu égard à limpact significatif quont les conditions initiales sur les efforts et les résultats de la politique macroéconomique de transition et dinstauration de la réforme structurelle, larticle souligne que lenvironnement institutionnel de léconomie yougoslave est un héritage du régime communiste. Aussi, les dix années de privatisation en Yougoslavie ont donné lieu à des résultats peu significatifs, précisément à cause de lhéritage évoqué. Les débats autour de la privatisation, des réformes structurelles et de la politique macroéconomique sont à nouveau dactualité en République Fédérale de Yougoslavie.

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    Article provided by De Gruyter in its journal Journal des Economistes et des Etudes Humaines.

    Volume (Year): 11 (2001)
    Issue (Month): 1 (March)
    Pages: 1-18

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    Handle: RePEc:bpj:jeehcn:v:11:y:2001:i:1:n:12
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    1. Frydman, Roman & Gray, Cheryl & Hessel, Marek & Rapaczynski, Andrzej, 1997. "Private Ownership and Corporate Performance: Some Lessons from Transition Economies," Working Papers 97-28, C.V. Starr Center for Applied Economics, New York University.
    2. Barberis, Nicholas & Maxim Boycko & Andrei Shleifer & Natalia Tsukanova, 1996. "How Does Privatization Work? Evidence from the Russian Shops," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 764-790, August.
    3. Frydman, Roman & Gray, Cheryl W. & Hessel, Marek & Rapaczynski, Andrzej, 1997. "Private ownership and corporate performance : some lessons from transition economies," Policy Research Working Paper Series 1830, The World Bank.
    4. Dewatripont, M & Roland, G, 1992. "The Virtues of Gradualism and Legitimacy in the Transition to a Market Economy," Economic Journal, Royal Economic Society, vol. 102(411), pages 291-300, March.
    5. Oleh Havrylyshyn & Donal McGettigan, 1999. "Privatization in Transition Countries; A Sampling of the Literature," IMF Working Papers 99/6, .
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