The impact of the economic crisis on the Countries

Maturski, Seminarski , Maturalni i diplomski radovi iz ekonomije: menadzment, marketing, finansija, elektronskog poslovanja, internet tehnologija, biznis planovi, makroekonomija, mikroekonomija, preduzetnistvo, upravljanje ljudskim resursima, carine i porezi.



By 2009 two decades will have passed since the fall of the Berlin wall and the beginning of the transition of ex-socialist countries. For the majority of these countries transitional walk through pains was not easy, but in 2004 and in 2007 some of the most successful countries became members of the European Union. This is the confirmation that these countries have managed to adjust to the requirements and criteria of the European Union in a fairly short period of time. “Over night”, joining the EU has considerably improved the standard for the majority of citizens of these new member states. Celebration and exhilaration due to the fact that they belong to the union of European democratic people has decreased a little when they realized that membership in the EU, apart from significant advantages, implies considerable renunciations.
Foreign investments brought different rules of conduct. In a short period of time transition has contributed to sharp polarization between a small number of immensely rich and extremely powerful individuals and a great number of pauperized citizens, who worked hard to keep their jobs and decent salaries. Transitional laid-offs who stayed out of former positions and workplaces found themselves in extremely bad situation. Over the years, the dynamic development of these countries had been weakening, and the employees’ discontent had been getting louder.
The global and severe economic crisis will probably strike this group of countries gravely, which is predictable, seeing that foreign investments in these countries had the key role in stimulating the total economic development. Since developed countries are facing serious crisis as well, it is certain that foreign capital inflow will significantly decrease in the next few years. Moreover, due to the policy to preserve jobs, the companies from the developed countries will be closing their branches in other states first. The fact that these countries are going through the crisis is supported by the requests from IMF and the World Bank for relief funds, which are, for instance, in case of Hungary incredible 24 billion dollars.
Due to the fact that Serbia is in a similar position, and that it is serious about applying for the membership in the European Union, this paper will analyze the most important aspects of these countries’ previous development, the effects of the current economic crisis and measures suggested for overcoming it efficiently.

KEY WORDS: crisis, transition, effects of development, forecast