FOREIGN CAPITAL IN YUGOSLAVIA, 1941–1991
FOREIGN CAPITAL IN YUGOSLAVIA, 1941–1991
Author(s): Dragana GnjatovićSubject(s): Economic history, Political history, Recent History (1900 till today), WW II and following years (1939 - 1949), Post-War period (1950 - 1989), Transformation Period (1990 - 2010)
Published by: Матица српска
Keywords: foreign capital; restrictive property measures; war command economy; centrally-planned economy; self-managed economy; external debt; Yugoslavia;
Summary/Abstract: The subject matter of this essay is the destiny of foreign capital invested in Yugoslavia form 1941 to 1991. The changes of legal system in Yugoslavia during and after the World War II prevented the presence of foreign capital in its economy. Foreign capital was negatively affected by the restrictive property measures both during the German occupation of Yugoslav territory, within the system of war command economy, and in the first years after the liberation, within the centrally-planned economic system. During the war, that was the capital owned by Allies of Yugoslavia, while after the war that was the capital owned by Axis powers. Then, in socialist Yugoslavia, within the self-managed economic system, the only legal possibility to obtain large sums of foreign capital to meet ambitious investment plans was to take foreign loans. Since Yugoslavia was unable to repay regularly the external debt, foreign creditors had to settle for the reduction of their claims.
Journal: Synaxa – Matica Srpska International Journal for Social Sciences, Arts, and Culture
- Issue Year: 2019
- Issue No: 4-5
- Page Range: 39-54
- Page Count: 16
- Language: English
