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

ISBN-13: 9780521401470 / Angielski / Twarda / 1992 / 276 str.

Milica Uvalic

Opis

In this book, Milica Uvalic examines the theoretical and empirical issues related to investment in Yugoslavia since 1965. She explores investment policies, sources of finance, macroeconomic performance, enterprise incentives and current property reforms in relation to Western theory on investment behavior in the labor-managed firm and Kornai's theory on socialist economies. In line with Kornai's theory, the author argues that the fundamental causes of problems in Yugoslavia are generic to socialist economic systems, rather than the specific characteristic of self-management.

Recenzje

"...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

Spis treści

List of tables and graphs; Introduction; Part I. The Institutional and Theoretical Framework: 1. The Yugoslav road towards market socialism; 2. The investment theory of the labour-managed firm; 3. Extensions of the LMF investment theory; 4. The investment behaviour of the socialist firm; Part II. Empirical Evidence on the Nature of the Yugoslav System: 5. Yugoslav investment and savings performance; 6. Determinants of investment in Yugoslavia; 7. Econometric tests of Yugoslav investment behaviour; Part III. Pressure for More Radical Reforms in Yugoslavia: 8. Early attempts at introducing investment incentives; 9. Current property reforms; 10. Specific features of the Yugoslav transition; 11. An overview of conclusions; Appendices; Bibliography.