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What price nationalism?

Economic outcomes before and after the break-up of Yugoslavia What are the costs of nationalistic policies? The expectations may be more optimistic than is warranted as the example of the breakup of Yugoslavia suggests. Assuming that nationalists expected that economic results would be better than in federal Yugoslavia, it makes sense to get some idea of what an alternative to a nationalistic strategy would have achieved in the last 20 years. The alternatives are nationalism vs. integration, not necessarily independence vs. federal Yugoslav state. That allows Slovenian development to be the basis for counterfactual simulations of where would have other Yugoslav states been had they followed its strategy of transition. This because (i) Slovenia opted for gradual transformation of the inherited Yugoslav institutions to those characteristic of the European Union (this is sometimes seen as a type of economic nationalism though in view of the next characteristic it is more of a gradualist strategy of transition) and that allows for an indirect evaluation of the Yugoslav institutions; (ii) chose to integrate with the EU and indeed the EMU, both as soon as possible, rather than pursue a protectionist, nationalistic strategy, which enables the comparison of these two strategies; and (iii) fared well, though not miraculously well, so its performance can be used as unbiased basis for comparative assessment of the price of nationalism.

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Paper provided by The Vienna Institute for International Economic Studies, wiiw in its series wiiw Policy Notes with number 5.

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Length: 9 pages including 2 figures
Date of creation: Jul 2011
Date of revision:
Publication status: Published as wiiw Policy Note
Handle: RePEc:wii:pnotes:pn:5
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  1. Alesina, Alberto & Spolaore, Enrico, 1997. "On the Number and Size of Nations," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1027-56, November.
  2. Vladimir Gligorov, 2007. "Costs and Benefits of Kosovo's Future Status," wiiw Research Reports 342, The Vienna Institute for International Economic Studies, wiiw.
  3. Barry Eichengreen, 2007. "The Breakup of the Euro Area," NBER Working Papers 13393, National Bureau of Economic Research, Inc.
  4. Rudiger Dornbusch, 1992. "Monetary problems of post-communism: Lessons from the end of the Austro-Hungarian empire," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 128(3), pages 391-424, September.
  5. Bolton, Patrick & Roland, Gerard, 1997. "The Breakup of Nations: A Political Economy Analysis," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1057-90, November.
  6. Vladimir Gligorov, 2000. "Delaying Integration. The impact of EU eastern enlargement on individual CEECs not acceding or acceding only later," wiiw Research Reports 267, The Vienna Institute for International Economic Studies, wiiw.
  7. Vladimir Gligorov, 2002. "Southeast Europe: History of Divergence," wiiw Balkan Observatory Working Papers 24, The Vienna Institute for International Economic Studies, wiiw.
  8. Leeper, Eric M., 1991. "Equilibria under 'active' and 'passive' monetary and fiscal policies," Journal of Monetary Economics, Elsevier, vol. 27(1), pages 129-147, February.
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