Evaluating Regional Policy in Yugoslavia, 1966–1990

Evan Kraft

Comparative Economic Studies, 1992, vol. 34, issue 3-4, 33 pages

Abstract: This paper measures the redistribution of financial and physical resources to different regions is Yugoslavia that arise from tax exemptions, interest-rate subsidies, and price distortions. Despite, or perhaps because of the lower marginal productivity of capital in less-developed regions, the result of policies adopted between 1966 and 1990 has been a substantial net flow to these regions. To equalize the marginal product of capital across regions in 1972, a one-time transfer of 45% of the capital stock from the less-developed regions would have been required. Yet the appropriate regional policy to realize this objective was not fully adopted by Yugoslav leaders.

Date: 1992
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