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- W2496525645 abstract "Unable to control galloping inflation and massive labour unrest, the Yugoslav state presidency in March 1989 appointed Ante Marković, a Croat electrical engineer and a leading Croatian politician, as the federal prime minister. Circumventing the established republican Party networks he chose a cabinet of technocrats — economists, engineers and managers like himself — committed to radical economic reform and pushed through the federal parliament a package of long-term economic reforms whose ultimate aim was the introduction of a free market of goods and labour and privatisation. As the reduction of the federal budget and restrictions on federal borrowing in the first part of 1989 failed to curb hyperinflation — reaching 3000 per cent — in December 1989 Marković implemented a ‘shock therapy’ based on an economic model partly drawn up by the Harvard economist Jeffrey Sachs. While introducing a price and wage freeze, Marković’s government imposed strict monetary and credit restrictions, pegged the local currency, the dinar, to the German mark and made it convertible into foreign currency. The competition from less expensive foreign imports — allowed by Marković — started to break up the long-established monopolies and led, as expected, to a spate of bankruptcies among the established loss-makers in most republics.KeywordsCommunist PartyDemocratic PartyNational PartyAlternative MovementNationalist PartyThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves." @default.
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- W2496525645 date "2000-01-01" @default.
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- W2496525645 title "The Rise of New National Elites 1987–90" @default.
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- W2496525645 doi "https://doi.org/10.1057/9780230285842_8" @default.
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