Abstract
Those who objected to the 1961 monetary stringency claimed that all it did was to slow down growth, while it could not stop inflation which was cost-push anyway (see p. 129) nor did it improve the production and investment structure. The main exponent of this view was Branko Horvat, who claimed that Yugoslav monetary policy was itself a source of fluctuations and called it, therefore, ‘(anti-) anti-cyclical’ (53, p. 141), but Bajt (NR 23. 2. 63) and others were of a very similar opinion.
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© 1979 Ljubo Sirc
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Sirc, L. (1979). Taking Stock. In: The Yugoslav Economy under Self-Management. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-04093-3_7
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DOI: https://doi.org/10.1007/978-1-349-04093-3_7
Publisher Name: Palgrave Macmillan, London
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