SOCIO-ECONOMIC CONSEQUENCES OF REFORMS IN POST-SOCIALIST COUNTRIES – PERSPECTIVES FROM THE POST-COVID WORLD

Aleksandra Praščević

Chapter 01 in Shaping Post-COVID World – Challenges for Economic Theory and Policy, 2023, pp 3-25 from Faculty of Economics and Business, University of Belgrade

Abstract: The paper deals with important issues of socio-economic consequences of economic and political reforms of post-socialist transition countries in the perspective of more than three decades of their transformation with variable success. The success of reforms can be viewed from this historical perspective in the context of their economic growth, but also of their social development. It answers the question of whether the economic transition from socialism (dominantly central-planned) to capitalism was an economic and social success. This is observed from the aspect of achieved economic growth, integration into the world economy, and especially into European integrations (such as the EU), as well as the growth of living standards and overall satisfaction of the citizens of these countries. The COVID-19 pandemic has exposed many of the otherwise present questions about the possible failure of the undertaken reforms. The post-pandemic world is facing geopolitical tensions, the basis of which is still a possible division into two systems (both economic and political), which raises the question of whether the reforms were really successful. The two significant shocks that hit the global economy in the 21st century had significant negative economic consequences for post-socialist economies, as well. First it was the Great Recession (2007-09) and then the COVID-19 pandemic. Post-socialist countries have faced economic difficulties, but also the political rise of undemocratic forces. Some of these difficulties have been solved by promoting the concept of stabilocracy. Today, when we are witnessing the war in Ukraine, the question is open again whether the neoliberal project, which was the base of undertaken reforms, together with promoting concept of stabilocracy represent a solution or the cause of further divisions in Europe.

Keywords: POST-SOCIALIST COUNTRIES; GEOPOLITICAL TENSIONS; ECONOMIC TRANSITION; STABILOCRACY (search for similar items in EconPapers)
JEL-codes: P16 P20 P51 (search for similar items in EconPapers)
Date: 2023
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ekof.bg.ac.rs/wp-content/uploads/2023/01/01.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:beo:swcetp:2301

Access Statistics for this chapter

More chapters in Shaping Post-COVID World – Challenges for Economic Theory and Policy from Faculty of Economics and Business, University of Belgrade Contact information at EDIRC.
Bibliographic data for series maintained by Goran Petrić ().