engleski

The Economic Costs of Disintegration of Yugoslavia : The Case of Croatia And Serbia

In this paper authors analyze the countries that have been formed on the territory of the ex Yugoslavia with respect to the gross domestic product, production per capita, average wages and social welfare in the period from 1990 – 2010. Afterwards the analysis encompasses the average wage growth rate, gross domestic product growth rate and per capita income growth rate of the similar emerging economies like Hungary, Poland, Czech Republic and Slovakia in the same period. The waged average growth rates were obtained and afterwards used to calculate the hypothetical time path of the variables previously mentioned, using the absolute values of the GDP, GDP per capita and wages of the ex Yugoslavian countries from year 1990 as the basis. In this way it is shown where West Balkans countries are in terms of economic position, and where they would have been if they had grown similarly to the rest of the European emerging markets. Authors also show the difference in the ranking of the European and OECD countries with respect to these variables in the actual and in the hypothetical case, clearly and quantitatively showing what the amount by which West Balkans countries have lagged behind the similar markets is due to the erroneous institutional policies

slow transition; lagging GDP growth; deindustrialization; institutional environment

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