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LESSONS FROM TRANSITIONAL ECONOMIES’ FAILURES: WHY IS B&H A TRANSITIONAL (Non) Success Story?

TitleLESSONS FROM TRANSITIONAL ECONOMIES’ FAILURES: WHY IS B&H A TRANSITIONAL (Non) Success Story?
Publication TypeConference Proceedings
Year of Publication2014
AuthorsGanić, M
EditorSahrudin, S
Series EditorSead, O
Conference NameFirst Sarajevo International Conference on "Global Crisis and Countries in Transition”
EditionIUS
Paginationpp. 9-22
PublisherIUS
Place PublishedSarajevo, Bosnia and Herzegovina
Abstract

Bosnia and Herzegovina (B&H) is faced with many challenges on its path of economic prosperity and suffers from many disappointments and setbacks of transition process. The social and economic activities have deteriorated and changed over time and B&H has passed through different political and economic changes. This paper aims to introduce the debate about the weakness of transitional model in order to explain the process of shift with the decline in production and demand, which increasingly affects the difficult socio-economic status of its citizens. The current concept of economic growth is based on consumption of private and public borrowing, as well as the increase in imports has been proven to be unsustainable. Accordingly, it provides a critical review of the effects that the current transition model left on the development of B&H. A comparative analysis of the characteristics of various important macroeconomic variables and graphical representations of the collected statistical data, on which it formulates proposals for overcoming the current situation in B&H, will be given.