PRICES OF AGRICULTURAL PRODUCTS (IN YUGOSLAVIA)
PRICES OF AGRICULTURAL PRODUCTS (IN YUGOSLAVIA)

Summary/Abstract: In the postwar period agricultural price policy has gone through two stages, each with its own different characteristics resulting from the general policy of economic development, demand for agricultural products, and institutional regulations concerning agriculture. In the period up to 1956, the basic aim of agricultural price policy was the redistribution of values generated in agriculture, so as to ensure the development of non-agricultural activities, primarily industry. The unequal terms of trade between agricultural and non-agricultural activities made it possible to accelerate industrialization and thus to increase capital formation in society as a whole. Until 1951, earnings generated by agriculture were taxed away through compulsory deliveries and low prices of agricultural produce in order to protect the standard of living. As a result of its unfavorable socio-economic position and some other reasons, agriculture developed in that period very slowly.

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