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A Comparative Analysis of the Price Index in Transition Countries in the Time of Globalisation

Author

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  • Igor Pejović

    (Higher School of Economics, Belgrade)

Abstract

Globalisation with all its features can be divided in two segments - good and bad. When we look at the good side of globalisation, it is obvious that it has erased boundaries between countries in terms of trade, education, knowledge sharing, and other new technologies, while on the other hand, the bad side is that it has created a considerable gap between developed and developing countries, then different types of commercial, political and other conditioning, and dependence on strong, developed states. A great contribution to the negative part of globalisation was of economic instability that occurred at the beginning of this century and which consequences are still present in the world. In this article, we presented the impact of economic instability on the price index trough a comparative analysis of transition countries such as Montenegro, Serbia and Croatia over a period of five years (Croatia has just recently become a member of the European Union and due to that fact it was included in this study). The survey covered price indices relating to the prices of industrial products for the domestic markets, consumer price indices, indices of the hospitality services and the prices of the agricultural products.

Suggested Citation

  • Igor Pejović, 2014. "A Comparative Analysis of the Price Index in Transition Countries in the Time of Globalisation," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 3(1), pages 101-113.
    • Handle: RePEc:cbk:journl:v:3:y:2014:i:1:p:101-113
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • P22 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Prices
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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