engleski

Transition of B&H Economy:an Example of Economic Barbarism

Bosnia and Herzegovina is in the process of transformation from a previously self-managed economy to a modern market economy. The process has begun immediately after the Dayton Peace Accord was signed. The transition package was based on the "rules of the game "of the Washington Consensus. We consider that an application of neoliberal economic concept in a war-torn country could provide nothing else than a disaster... The application of Washington consensus under given B&H' circumstances we consider as economic barbarism. In the paper we analyze the barbaric strategy of the international institutions and its consequences for B&H' economy and society. In our research we rely mostly on our primary data and research as well as on official World Bank publications. Our own neo-Keynesian economic development strategy supported by UNDP has been rejected by the IMF and World Bank in 1997.

strategy ; failure ; neoclassical ; IMF

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