Public Works: Theoretical Assumptions And Possibilities Of Their Organisation In Montenegro

Nikola Fabris and Maja Jandric

Montenegrin Journal of Economics, 2006, vol. 2, issue 3, 99-112

Abstract: It is believed by many that that public works are certainly a sound and rational form of economic policy. However, this begs a question how these measures foster economic development and whether they aggravate macroeconomic imbalances. Additionally, one should be aware of the fact that public works cannot be the solution for an underdeveloped economy, companies with obsolete technology, and widespread employment. They can only moderate the existing economic situation. The paper analyzes theoretical assumptions of public works, as well as the experiences of developed and developing countries regarding the organisation of public works. Starting from the conclusions and characteristics with regard to the labour market in Montenegro, the paper examines the possibility of the public works organisation in Montenegro. The recommendation is that positive effects could be generated by the construction of highways. The conclusion is that potential organisation of public works in Montenegro cannot be treated as a substitute for reforms.

Date: 2006
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