Albania in Crisis

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Overview

This book presents, for the first time, a comprehensive analysis of the different factors behind the 1997 political, economic and social crisis in Albania. It shows that the crisis was both predictable and complex, and not simply a matter of a disgruntled population attempting to regain their money. Using extensive and detailed evidence Daniel Vaughan-Whitehead identifies the major reasons for the growing discontent and final explosion: the increase in unemployment, the collapse of industrial production, the inefficiency of the banking system, the limitations and drawbacks of foreign investment, the failure of mass privatization, falling living standards and rising poverty. He examines the consequences of the crisis at the enterprise level by region, sector, industry and property from using a unique survey of over 1,000 enterprises. In conclusion he offers a series of policy recommendations with a view to regenerating production whilst avoiding a new social explosion in a destroyed economy further threatened by political instability and the conflict in Kosovo. This unique book will be essential reading for all academics working in the area of transition as well as policy-makers from international organizations involved in transition economies.
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Editorial Reviews

Booknews
Presents an analysis of factors behind the 1997 political, economic, and social crisis in Albania. Shows that the crisis was both predictable and complex, and not simply a matter of a disgruntled population attempting to regain their money. Identifies major reasons for the crisis, such as increasing unemployment, the collapse of industrial production, and the failure of mass privatization. Examines the consequences of the crisis at the enterprise level by region, sector, industry, and property form, using information from a survey of some 1,000 enterprises, and offers policy recommendations. Annotation c. Book News, Inc., Portland, OR (booknew.com)
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Product Details

Table of Contents

List of Tables and Figures
Foreword
Preface
Map of Albania
Pt. 1 Assessment: The Reasons for the Crisis
1 The Apparent Rapid Success of the Balkan Tiger 3
2 The Profound Crisis in Industry 17
3 Difficulties in Emerging Services 37
4 The Missing Pillar: The Inadequacy of the Banking System 55
5 The Unemployment Shock 73
6 Impoverishment Wages and Incomes 97
7 The Avoidance of Social Dialogue and Participation 135
8 The Failure of the Mass Privatisation Programme 151
9 Limitations and Drawbacks of Foreign Capital 169
10 The Collapse of the Albanian Pyramid 191
Pt. 2 Prospects: Albania after the Storm
11 The Extent of the Destruction 221
12 A Halt to Economic Activity 245
13 Macroeconomic Indicators Moving Backwards 277
14 The Social Abyss 289
15 Reviving Production Forces 311
16 Reviving Life Forces 331
Bibliography 349
Index 353
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