THE PROCESS OF GLOBALIZATION AND TRANSITION

• Main Author: Слободан Ђорђић, PhD
• Format: Article
• Language: English
• Published: University of Banja Luka, Faculty of Economics 2003-06-01
• Series: Acta Economica
• Subjects: transition, globalization, speculative economy, disfunctions, megatransition changes.
• Online Access: http://ae.ef.unibl.org/index.php/AE/article/view/343

This article deals with some open questions on globalization and transition processes. It is about positive as well as about negative effects of these processes. As for globalization, positive trends relate to the insisting on higher level of market economy and liberalization trends including the rapidity of the movement of capital and the transfer of technology. The speculative financial economy and different kinds of disfunctions and dissipations that are just emerging in this time belong to the negative trends. In this article up to-date processes of transition show in general negative results. It relates especially on the slowdown of economic activities in the countries under transition as wel as slowdown of foreign private capital which make an essential factor for instigation the growth of domestic economies in the countries under transition. As key preconditions for amelioration of these economies under transition have been seen as follows: The completion of privatisation process; The creation of the state of law and Institutional and economic sistem adjustments to the market economy.