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Yugoslavia - Economic development (Vol. 4) : Volume 4 (English)

In 1950 Yugoslavs began to evolve a new economic system based on decentralized decision making. A serious effort has been made to ensure that decentralized decisions be harmonized and coordinated in order to maintain a unified Yugoslav market. Rapid economic development has accompanied the fundamental institutional changes as a result of high rates of investment and rapid industrial development. A precarious financial situation has threatened development. Legislative reform is expected to impose financial discipline and increase effectiveness of the monetary policy. In addition, liberalization of trade and payments should alleviate some of the financial constraints. Continued growth will probably be influenced by: (i) efficiency of the system in developing economic policy; (ii) success in controlling inflationary pressures; (iii) improvement in the tight balance of payments situation; and (iv) improvement in resource allocation and maintenance of the rate of aggregate savings.




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Yugoslavia - Economic development (Vol. 4) : Volume 4 (English). Washington, D.C. : World Bank Group.