• Jovan B. Dušanić, PhD Faculty of Economics, University of Banja Luka


transition, stabilization, privatization, liberalization, globalization, modernization.


Understanding the essence of globalization and its dramatic and contradictory processes is a pre-requirement of successful modernization of any transitional country. If global courses are considered from the economic point of view, i.e. in geo-economic context, that it can be perceived that the development of economic model in every country is occurring in very fierce struggle between the representatives of transnational and national capital, world oligarchy and authentic national elite. Among them there are different (most often fiercely opposed) interests, different systems of value, various instruments of acting, etc.

The successful countries in transition must avoid the fate of large number of small and economically underdeveloped countries in which the contradictions between the interests of transnational and national capital were solved by putting the last into the service of international corporations and by creating the local comprador elite which is by that process added to periphery of world oligarchy.

The experience of successful economies in transition show that it is necessary to develop and implement own programme of economic reforms that will be the result of “home” intellect and not accept already made programmes that are offered by various “authoritative” international financial organizations and “independent” counselors from abroad. On the other hand, the experience of less successful economies in transition show that the basic problem is not the lack of theoretical knowledge and familiarity with the experience of other countries, but primarily the non-existance of determination (as well as of wish and interest) of politics to undertake the necessary reforms in the interest of their own country and its citizens.


Download data is not yet available.


Karl Polanji, Velika transformacija, Filip Višnjić, Beograd, 2003.

Le Mond Diplomatique – srpsko izdanje, novembar, 2002.

OECD, Economic Serveys Federal Republic of Yugoslavia – Economic Assessment, Paris, 2002.).

J. Stiglić, Protivrečnosti globalizacije, SBM-đ, Beograd, 2002.

Janoš Kornai, Sistemnaja paradigma, Vaprosi ekonomiki, Moskva, 4/2002.

Stephen F. Cohen, Failed Crusade, Amerika and the Tragedy of PostCommunist Russia, NJ.NJ. Norton&Company, New York, London, 2000.

G. Kolotko, Ot šoka k terapii, Ekspert, Moskva, 2000.

O. T. Bogomolov, Moja ljetopis perehodnova vremeni, Ekonomika, Moskva, 2000.

Jože Mencinger, Deset let poznije, Gospodarska gibanja, br. 317, Ljubljana, 2000.

J. Stigliz, More Instruments and Broader Goals: Moving Toward the Post-Washington Consensus, NJIDER Annual Lecture, NJIDENJ/UNU, 1998.

Janine R. Wedel, The Harvard Boys Do Russia. How the best and brightest American “experts” helped destroy the Russian economy, The Nation, Vol.266, No.20, June 1, 1998.)

The Washington Consensus Revisited, In Louis Emmerij (ed.). Economic and Social Development into ĐĐI Century. Washington, DC: InterAmerican Development Bank, 1997.

R. Portes, Transformation Traps, The Economic Journal, No 426, vol. 104, 1994.

Democracy and the “Washington Consensus”’, World Development, ĐĐI, 8, 1993.




How to Cite

B. Dušanić, J. (2005). GLOBALISATION AND MODERNISATION OF A TRANSITIONAL ECONOMY. Acta Economica, 3(3), 156–172. Retrieved from



Review article