Where the Yugoslav Economy Would Have Been Today?
11 Pages Posted: 7 May 2019
Date Written: April 9, 2019
The paper represents a simulation exercise of the possible evolution of Yugoslav economy if the federation would have gone a peaceful transition to a market economy and democracy, similar to the other countries belonging to the former socialist group; we use the synthetic control method to calculate the GDP per capita of the federation and each of the republics. The extrapolated values are compared to the actual levels of the indicator in each republic, which allows to conclude if the separation has brought more economic development than in case Yugoslavia would still exist.
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