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SUMMARY:The Socialist Experiment of Yugoslavia: Exploring the Effect of La
 bour-Managed Socialism on Economic Development - Magnus Neubert (Leibniz I
 nstitute of Agricultural Development in Transition Economies)
DTSTART:20231127T130000Z
DTEND:20231127T140000Z
UID:TALK206683@talks.cam.ac.uk
CONTACT:113473
DESCRIPTION:This study challenges the consensus in the literature that soc
 ialism hampered growth. Most\nof these studies neglect the pre-socialist b
 ackwardness or ignore the institutional heterogeneity\nacross time and spa
 ce. Labour-managed socialism in Yugoslavia was the most decentralized and\
 nmost dynamic socialist economy and combined social ownership and workers
 ’ management with\nmarket coordination. Due to the divergent economic de
 velopment before WWII\, it is hard to\ndisentangle the economic effect of 
 socialist institutions and the uneven economic preconditions.\nTherefore\,
  I zoom into the region of Friuli Venezia Giulia and exploit the historica
 l event of\nTrieste’s liberation by the Yugoslav partisans which allowed
  Yugoslavia to expand territorially\nto the cost of Italy. The eastern par
 t of the region was treated with socialist institutions\, while\nthe weste
 rn part remained under capitalist institutions. By introducing a novel mic
 ro-regional\npanel dataset of decomposed GDP for 1938\, 1951\, 1961\, 1971
 \, 1981\, and 1988\, this historical\nsetting allows for estimating the ef
 fect of labour-managed socialism on economic development\nfor the first ti
 me. A spatial regression discontinuity design and additional evidence sugg
 est that\ndifferences in GDP levels occurred already before WWII and are a
 mplified by the exodus of\nItalian human capital and uneven market integra
 tion. Labour-managed socialism had no significant effect on economic devel
 opment and let the Yugoslav part of the region even converge\nto the Itali
 an part until the period of crisis and austerity in the 1980s. These resul
 ts shed new\nlight on the economic performance of labour-managed socialism
  and require new theoretical\nexplanations.
LOCATION:Room 12\, Faculty of History
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