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The paper is dedicated to Dragoslav Avramovic, a unique personality who
played a key role in a historically important period for Federal Republic
(FR) of Yugoslavia. After the successful implementation of his macroeconomic
stabilization program, Avramovic wanted to implement other important
economic reforms. In November 1995, he prepared the ?Program II? that
contained fifteen measures, one of which was the ?Democratization of
property relations?. Avramovic formed a Working Group in April 1996 that was
to prepare a privatization program for FR Yugoslavia. The program was soon
ready, proposing obligatory, comprehensive and fast privatization of all
enterprises in FR Yugoslavia, using a combination of different methods.
However, Avramovic?s privatization program was not even officially
discussed, since in mid-May 1995 he had to leave his position of Governor of
the National Bank. The paper also points to the profound ideological
differences among intellectuals at that time and to the wider consequences
of Avramovic?s departure.

Este artículo describe las últimas experiencias sobre el reparto de beneficios y otras formas de participación financiera de los trabajadores aplicadas en los estados miembros de la Unión Europea, basándose en los principales hallazgos del Informe PEPPER preparado en 1991 para la Comisión de las Comunidades Europeas. Se clasifican y describen brevemente las diferentes formas de participación financiera de los trabajadores y se analiza el marco legal existente en los diferentes países de la UE. Se proporciona la información disponible para cada país sobre la difusión de los diferentes acuerdos de participación financiera. También se señalan algunas de las limitaciones de los acuerdos existentes. El artículo concluye haciendo hincapié en el cambio de actitud hacia la participación financiera de los trabajadores que se ha producido en los últimos años. ; The present paper gives an overview of the recent experiences in applying profit-sharing and other forms of employee financial participation in the Member States of the European Union, on the basis of the main findings of the PEPPER Report prepared for the Commission of the European Communities in 1991. The different forms of employee financial participation are briefly described and classified, and the existing legislative framework for their implementation in different EU countries is presented. Available information is given on the diffusion of the various financial participation arrangements in each of the countries. Some main limitations of existing sharing arrangements in EU countries are also pointed out. The paper concludes by stressing the changed attitude towards employee financial participation that has emerged in recent years.

The paper analyses the 20-year experience with transition in the SEE countries in a comparative framework, illustrating how these countries encountered difficulties in its implementation, despite having some of the best starting conditions in 1989 to implement a swift transition to a market economy. The paper recalls the initial conditions in the SEE region in 1989, macroeconomic performance and progress achieved in the various transition-related economic reforms. The international issues are also addressed related to the post-2000 integration of the SEE countries with the EU and among themselves. The paper also reflects on the main factors that are responsible for delays in transition in SEE related to political instability, delayed integration with the EU, and inappropriate economic policies.

Für die fünf Westbalkanstaaten Albanien, Bosnien-Herzegowina, Kroatien, die Ehemalige Jugoslawische Republik Makedonien und Serbien-Montenegro (SEE-5) wird die EU-Erweiterung 2004 kaum positive Auswirkungen haben. Die Nachteile werden die Vorteile deutlich überwiegen. Vor allem wirtschaftlich wird der Abstand der SEE-5 zu den EU-15/25 weiter wachsen. Angesichts dieser Perspektive gibt es eine ganze Reihe von Maßnahmen, die die EU einsetzen könnte, um ihre Stabilisierungs- und Assoziierungspolitik gegenüber den SEE-5 zu stärken. Diese Maßnahmen betreffen drei Kategorien: EU-Instrumente, EU-Finanzhilfen, Statusfragen der Staaten Südosteuropas. Es gibt auch eine Reihe von Maßnahmen, mit denen die SEE-5 ihre EU-Integration selbst beschleunigen könnten: Schaffung regionaler Institutionen, Beseitigung von regionalen Kooperationsbarrieren, Lösung innenpolitischer Probleme, Erarbeitung einer gemeinsamen regionalen Integrationsstrategie. (ICE2)

The article evaluates and attempts to draw some lessons from the recent initiatives aimed at stimulating regional cooperation among transition economies in Northern, Central, and South-Eastern Europe. Although these initiatives varied significantly in their scope, objectives, and domain of activity, the author highlights the common elements and discusses both their major achievements and greatest weaknesses. The author then relates these initiatives to the recent theoretical debate on regionalism, the main conclusions in the empirical literature, and the most important policy issues concerning current integration processes and eu enlargement. The role of subregional economic cooperation among transition economies is examined within the context of the problems posed by the variable speed integration policies of the European Union. The general conclusion is that the overall experience of regional cooperation among European transition economies has, on balance, been positive, though clear limitations and many unresolved questions remain. (For acronyms see page 323.)

Gegenstand der Untersuchung sind wirtschaftliche Konsequenzen des Nationalismus in Kroatien und der Bundesrepublik Jugoslawien. In beiden Staaten hat der 1990 eingeleitete politische Wandel zum Aufschwung eines nationalistisch motivierten Staatspaternalismus geführt. Die Übertragung von Eigentumsanteilen privatisierter Unternehmen auf staatliche Fonds sowie der Aufbau eines umfangreichen Staatssektors haben eine Ausweitung der in staatlichem Besitz befindlichen Teile der Wirtschaft bewirkt. Darüberhinaus wurde als Folge der im Zuge der Kriegsanstrengungen betriebenen expansionistischen Geld- und Fiskalpolitik die makroökonomische Stabilisierung der Wirtschaft hinausgezögert. Neben dieser Stabilisierung wurden auch Privatisierung und Restrukturierung als zentrale Elemente des postkommunistischen Transformationsprozesses verzögert. (BIOst-Wpt)

The present article summarizes the recent experiences in workers' financial participation in the member countries of the European Community, as contained in the PEPPER Report prepared for the Commission of the European Community in 1990-91 as part of its Action Programme for the implementation of the Social Charter. Within the category of financial participation, two broad categories of schemes were included: profit-sharing and employee share-ownership. An overview is given of the prevalent types of schemes applied in EC countries, diffusion of particular forms, characteristics concerning enterprise size and sectoral distribution, percentages of employees involved and effective benefits accruing to employees. With the notable exceptions of France and the UK, employee financial participation is for the moment not very diffused. Nevertheless, the Recommendation on employee participation in enterprise results, adopted by the Council of European Communities in July 1992, encourages member states to grant fiscal and other incentives to firms adopting financial participation schemes, which may lead to measures facilitating their further spread throughout Europe.