Yugoslavia: Experience of Systemic Change
Yugoslavia was the first among socialist countries to start changing its socio-economic and political system. The first major reform was launched as early as the beginning of the 1950s, with the introduction of workers’ self-management. The second major reform took place in 1965. The third great reform started with the adoption of the Long-Term Economic Stabilisation Programme in 1983, and the fourth great reform began in 1988 and can be said to be still in progress. The first three major reforms had certain characteristics in common manifested in efforts to strengthen the role of the market and market criteria and relations in the organisation of the Yugoslav economy and society. The basic objective of this reform was to develop an adequate motivation system in order to increase economic efficiency. In contrast with these common characteristics, there were also, although this may sound paradoxical at the first glance, some common characteristics which were diametrically opposed to the first mentioned ones.
KeywordsMarket Economy Economic Reform German Democratic Republic Foreign Exchange Market Foreign Exchange Reserve
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