The New Political Macroeconomics in Modern Macroeconomics and Its Appliance to Transition Processes in Serbia

Authors

  • Miomir Jakšić University of Belgrade, Faculty of Economics, Serbia
  • Aleksandra Praščević University of Belgrade, Faculty of Economics, Serbia

DOI:

https://doi.org/10.2298/PAN1104545J

Keywords:

New democracy, Political macroeconomics, Fiscal manipulation, Political instability

Abstract

This study deals with important issues related to the new political macroeconomics and its appliance to the economic movements in Serbia, which is a country of “new democracy” as well as with transition economy. In political macroeconomics, it is a known fact that the economic policy instruments can be used for political purposes – simulated improvement of economic indicators to win the elections. These options assume specific features in transition economies, such as the Serbian economy. The political instability in Serbia, reflected in frequent elections, as well as in the diversity in political and economic goals of the key political parties leading to increasing political uncertainty in both the pre-election and post-election periods, weakened the economic system. Simultaneously, using the economic policy for political purposes to support the “pro-democratic” and “pro-European” parties proved to be paradoxically justified.

Key words: Political macroeconomics, New democracy, Fiscal manipulation, Political instability.
JEL: P16, P26, P27, E62.

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Published

2011-10-10

How to Cite

Jakšić, M., & Praščević, A. (2011). The New Political Macroeconomics in Modern Macroeconomics and Its Appliance to Transition Processes in Serbia. Panoeconomicus, 58(4), 545–557. https://doi.org/10.2298/PAN1104545J

Issue

Section

Polemic