| This thesis examines both the uneven development of Yugoslav industry and the factors behind federal and regional policy toward capital accumulation since the 1960s.;In Chapter 2, uneven development is studied by the generation of a synthetic index called "modernism." The index is created through factor analysis. "Modern" enterprises are large scale, with extensive management structures, advanced technology and substantial market power. Modernism scores generally follow a three-part distribution: a group of large-scale, process-technology, strongly modern industries; a group of batch technology, intermediate industries; and a group of smaller scale, lagging industries.;Chapter 3 focuses on regional development. Evidence is introduced indicating that less modern regions have made significant strides toward modernizing their total capital stock, but have not caught up in their share of the total Yugoslav modern capital stock. Also, evidence is presented to support the argument that regional modernization efforts have enhanced regional autarky, while generating more similar industrial structures in the different regions.;Chapter 4 deals with foreign trade. I argue that the export sector grows more slowly than the rest of the economy. Also, coastal regions are shown to be more import-dependent than inland regions.;Chapter 1 argues first that systematic obstacles prevent "reform" socialism from becoming "market" socialism, and second that large firms play a key role in the struggles over the nature of the reform.;Chapter 5 builds and estimates a dynamic model of modernism, capital accumulation and credit allocation. Modernism is found to be mainly a function of lagged modernism. Capital accumulation is driven mainly by credits, with a subordinate role for enterprises' self-finance decisions. The profit rate affects accumulation only indirectly in 2 of the 3 cycles studied.;Crediting, considered in other studies an exogenous variable, is shown to follow modernism in the first cycle, and then to depend mainly on enterprise self-finance decisions. This structural break in the crediting equation is argued to indicate the decreased power of modern enterprises after 1971.;Chapter 6 summarizes the conclusions of the study. |
