Acta Oeconomica
Volume/Issue:
Volume 70: Issue 3
Human development and convergence among the states of former Yugoslavia
Authors:
Ivan Vujačić Faculty of Economics, University of Belgrade, Kamenička 6, Beograd, Serbia

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https://orcid.org/0000-0001-6025-5513
,
Jelica Petrović-Vujačić Faculty of Transport and Traffic Engineering, University of Belgrade, Beograd, Serbia

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https://orcid.org/0000-0003-1897-8990
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Svetozar Tanasković Faculty of Economics, University of Belgrade, Kamenička 6, Beograd, Serbia

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https://orcid.org/0000-0002-2903-6520
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Marko Miljković Faculty of Transport and Traffic Engineering, University of Belgrade, Beograd, Serbia

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https://orcid.org/0000-0001-6232-6442
Pages:
361–380
Online Publication Date:
06 Oct 2020
Publication Date:
06 Oct 2020
Article Category:
Research Article
DOI:
https://doi.org/10.1556/032.2020.00018
Keywords:
human development index; economic growth; convergence; Yugoslavia; Western Balkans; O10; O15; O52; O57; P20
Restricted access

Abstract

After the devastation of the Second World War, the federal units of the former Yugoslavia were on their way to catching up with the Western Europe, with different degrees of success. In fact, Yugoslavia was considered a success story among the socialist economies due to its specific self-management system. Nevertheless, among the Federal units that later became independent states, regional differences in development level increased, in spite of the proclaimed policy to narrow them. Enough time has passed since the wars of the breakup and the economic transition to check if this divergence is continuing under a capitalist market system, now that all the countries are on the path to the European Union (EU) accession. The paper tests the convergence hypothesis among the states of the former Yugoslavia in terms of Human Development Index (HDI), as a more complex indicator of country development than GDP per capita. The results of two different approaches to test for the presence of β (beta) and σ (sigma) convergence suggest that the gap between the states of former Yugoslavia is closing, albeit at a slow rate. Given that convergence is slow, the active EU policies aimed at hastening the accession of the currently non-member states of the former Yugoslavia would accelerate the process.

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Cover Acta Oeconomica
Acta Oeconomica Periodical of the Hungarian Academy of Sciences
Print ISSN:
0001-6373
Online ISSN:
1588-2659

Senior editors

Editors-in-Chief: István P. Székely, Dóra Győrffy

Editor(s): Judit Kálmán

Associate Editors

  • Péter Benczúr, Joint Joint Research Center, European Commission
  • Dóra Benedek, International Monetary Fund
  • Balázs Égert, OECD
  • Dániel Prinz, World Bank
  • Rok Spruk, University of Ljubljana, School of Economics and Business, Slovenia

Editorial Board

  • Anders Åslund, Georgetown University and Advisory Council of CASE, USA
  • István Benczes, Corvinus University of Budapest, Hungary 
  • Agnieszka Chłoń-Domińczak, SGH Warsaw School of Economics, Poland
  • Fabrizio Coricelli, University of Siena, Italy
  • László Csaba, Corvinus University of Budapest, Hungary and Central European University, Austria
  • Beáta Farkas, Faculty of Economics and Business Administration, University of Szeged, Hungary
  • Péter Halmai, Budapest University of Technology and Economics, and National University of Public Service, Hungary
  • Martin Kahanec, Central European University, Austria
  • David Kemme, University of Memphis, USA
  • Michael Landesmann, The Vienna Institute for International Economic Studies (WIIW), Austria
  • Péter Mihályi, Corvinus University of Budapest, Hungary
  • Debora Revoltella, European Investment Bank

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: judit.kalman@uni-corvinus.hu

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Acta Oeconomica
Language English
Size B5
Year of
Foundation		 1966
Volumes
per Year		 1
Issues
per Year		 4
Founder Magyar Tudományos Akadémia
Founder's
Address		 H-1051 Budapest, Hungary, Széchenyi István tér 9.
Publisher Akadémiai Kiadó
Publisher's
Address		 H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher		 Chief Executive Officer, Akadémiai Kiadó
ISSN 0001-6373 (Print)
ISSN 1588-2659 (Online)

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