Global crisis - an opportunity for completion of structural transformation of Slovenian economy
Lorber, Lučka
Until the middle of 1991, Slovenia was part of Yugoslavia. The Yugoslav political and economic situation was difJerent from the traditional political and economic order of other east block countries. ...In the 1980s, economic problems began mounting, because the east block countries, including Yugoslavia, no longer received financial help from developed countries and had to pay back loans. After 1991, Slovenia's economy began changing to market economy and the privatisation process was started. It was clear from the GDP structure and GVA of Slovenian economic sectors that their economy had structural problems. During the accession process, the new Slovenian state had to form its statehood and adapt its legislation to the European. At the same time. It had to transform the economy and secure social peace. Structural social and economic changes proceeded relatively slowly because the Slovenian government decided on a step-by-step policy with gradual changes aimed at market economy, secure national economy and clearly defined national interests. Slovenia, contrary to the rest of the transition countries, maintained its controlling share in the ownership structure of the largest banks. This is the reason why Slovenia never felt the immediate consequences of the global financial crash to such large extent. However, the disturbances in the capital market due to the enormous loans for management (leverage) buyout oflarge Slovenian companies constitute a problem.
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