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Investment and Property Rights in Yugoslavia : The Long Transition to a Market Economy - Milica Uvalic

Investment and Property Rights in Yugoslavia

The Long Transition to a Market Economy

Hardcover Published: 31st July 1992
ISBN: 9780521401470
Number Of Pages: 276

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For decades Yugoslavia has been developing its own model of socialism based on workers' self-management and the increasing use of the market mechanism. As a result, many scholars view the Yugoslav economy differently from other socialist systems. In this book, Dr Milica Uvalic demonstrates how some of the fundamental features of the Yugoslav economy have remained similar to those characterizing other socialist economies. Dr Uvalic focuses on theoretical and empirical issues related to investment in Yugoslavia since 1965. She examines investment policies, sources of finance, macroeconomic performance, enterprise incentives, and current property reforms in relation to Western theory on investment behaviour in the labour-managed firm and Kornai's theory on socialist economies. In line with Kornai's theory, the author argues that investment reforms have not led to substantially changed enterprise behaviour, which illustrates the limited results to be expected from partial reforms in a socialist economy. The fundamental problems in Yugoslavia are thus generic to socialist economic systems, rather that the specific characteristic of self-management.

Industry Reviews

"Dr. Uvalic has done an excellent job in presenting the complexity and multidimensionality of these issues...I, therefore, strongly recommend Investment and Property Rights in Yugoslavia not only to social scientists for its wealthy empirical and theoretical content, but also to a business practitioner planning to expand into Yugoslavia..." Darek J. Klonowski, Canadian Slavonic Papers "...a welcome affirmation of the role of institutions in evaluating economic systems...The book is a careful assessment of a wide spectrum of theoretical literature on property rights and their effect on investment. While Yugoslav theory and practice constitute the core of the analysis, the scope is much broader both theoretically and empirically than just the one country...Overall the book constitutes a significant contribution to critical evaluation of existing theories of self-management." Diane Flaherty, Slavic Review

List of tables and graphs
The Institutional and Theoretical Framework
The Yugoslav road towards market socialism
The investment theory of the labour-managed firm
Extensions of the LMF investment theory
The investment behaviour of the socialist firm
Empirical Evidence on the Nature of the Yugoslav System
Yugoslav investment and savings performance
Determinants of investment in Yugoslavia
Econometric tests of Yugoslav investment behaviour
Pressure for More Radical Reforms in Yugoslavia
Early attempts at introducing investment incentives
Current property reforms
Specific features of the Yugoslav transition
An overview of conclusions
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521401470
ISBN-10: 052140147X
Series: Soviet and East European Studies
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 276
Published: 31st July 1992
Country of Publication: GB
Dimensions (cm): 24.13 x 16.51  x 2.54
Weight (kg): 0.45