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Socialist growth revisited: insights from Yugoslavia

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  • Leonard Kukić

Abstract

We know little about the performance of socialist European economies. This paper fills the knowledge void by analyzing Yugoslavia using a diagnostic tool that identifies the mechanisms that drive economic growth—business cycle accounting. The analysis provides novel findings. During the “Golden Age” of economic growth, total factor productivity became gradually more important in sustaining economic growth. Distorted labor incentives were a major constraint on growth since the mid-1960s, and explain the slowdown of the economy during the 1980s. In turn, labor incentives were distorted by the greater devolution of power to labor-managed firms.

Suggested Citation

  • Leonard Kukić, 2018. "Socialist growth revisited: insights from Yugoslavia," European Review of Economic History, European Historical Economics Society, vol. 22(4), pages 403-429.
    • Handle: RePEc:oup:ereveh:v:22:y:2018:i:4:p:403-429.
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    File URL: http://hdl.handle.net/10.1093/ereh/hey001
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    Cited by:

    1. Branimir Jovanović & Artem Kochnev & Manuel Neubauer & Monika Schwarzhappel, 2024. "Monthly Report No. 12/2024," wiiw Monthly Reports 2024-12, The Vienna Institute for International Economic Studies, wiiw.
    2. Leonard Kukić, 2020. "Origins of regional divergence: economic growth in socialist Yugoslavia," Economic History Review, Economic History Society, vol. 73(4), pages 1097-1127, November.
    3. Leonard Kukić, 2021. "The Nature Of Technological Failure: Patterns Of Biased Technical Change In Socialist Europe," Journal of Economic Surveys, Wiley Blackwell, vol. 35(3), pages 895-925, July.
    4. Aleksandar Kešeljević & Rok Spruk, 2024. "Estimating the effects of Syrian civil war," Empirical Economics, Springer, vol. 66(2), pages 671-703, February.
    5. Richard Grieveson & Mario Holzner & Branimir Jovanović, 2024. "The jockey, horse and racetrack revisited: Why did CESEE’s command economies collapse?," wiiw Research Reports 477, The Vienna Institute for International Economic Studies, wiiw.
    6. Ann Hipp & Björn Jindra & Kehinde Medase, 2024. "Overcoming barriers to technology transfer: empirical evidence from the German Democratic Republic," The Journal of Technology Transfer, Springer, vol. 49(5), pages 1787-1821, October.

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