The Volume and Structure of Financial Investments in Textile Industry of the Kingdom of SHS Cover Image
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Обим и структура капитала у текстилној индустрији Краљевине СХС
The Volume and Structure of Financial Investments in Textile Industry of the Kingdom of SHS

Author(s): Jelena Rafailović
Subject(s): National Economy, Governance, Economic history, Political history, Economic policy, Economic development, Post-War period (1950 - 1989)
Published by: Institut za noviju istoriju Srbije
Keywords: Textile industry; Kingdom of SHS; capital; financial investments; economic history;
Summary/Abstract: The paper analyzes the volume and structure of financial investments in textile industry of the Kingdom of Serbs, Croats and Slovenes. In addition to this main inquiry it deals also with the issue of the so-called nationalization of financial capital in the first post-war years. While higher equity, growth balance and greater participation of foreign capital were typical for the textile industry in Croatia and Slovenia, the rest of the country was dominated by medium-sized enterprises, owned by local manufacturers. Territorial distribution of foreign industrial investments shows that foreign capital had the strongest position in the textile industry in Croatia and Slovenia, while in other parts of the Kingdom, especially in the prewar Kingdom of Serbia, the financial capital was in hands of local industrialists. A significant growth of textile industry in Croatia – Slavonia during this period leads to the question, asked by Marie-Janine Čalić: namely, whether (and to what extent) Serbia has benefited economically from the unification with their South Slavic neighbors? Although a number of economic historians argue that Serbian industry had benefi ted in this respect, the analysis of textile industry could not confi rm this standpoint; on the contrary – the greater market was more convenient to the northwestern parts of the country. However, for a more reliable asssesments of this issue it is necessary to deal with the entire Yugoslav economy from a broader chronological perspective.