STABILIZING INFLATION IN SLOVENIA, CROATIA, AND MACEDONIA: HOW INDEPENDENCE HAS AFFECTED MACROECONOMIC POLICY OUTCOMES
In: The Pacific review, Band 47, Heft 3, S. 469-492
ISSN: 0951-2748
THE AUTHOR STUDIES THE INTERPLAY OF POLITICAL AND ECONOMIC FORCES ON STABILIZATION BY EXAMINING STABILIZATION EXPERIENCES IN THE FORMER YUGOSLAVIA AND THREE SUCCESSOR STATES -- SLOVENIA, CROATIA, AND MACEDONIA. FIRST, HE DISCUSSES STABILIZATION EFFORTS IN YUGOSLAVIA, FOCUSING ON THE COALITIONS THAT BLOCKED STABILIZATION AND REFORM. THEN HE EXAMINES THE EXPERIENCES OF SLOVENIA, MACEDONIA, AND CROATIA FROM 1991 TO 1994 TO ANALYZE HOW THE DEGREE OF SUCCESS WITH STABILIZATION CORRESPONDS TO SUCCESS IN INSTITUTION BUILDING AND CREATING SOCIAL CONSENSUS. HE CONCLUDES WITH SOME OBSERVATIONS ON THE EFFECTS OF SEPARATION AND ON LONG-TERM PROSPECTS IN THE THREE SUCCESSOR STATES.