The Economic Crisis of 2008: Reproduction of the Core-Periphery Relations between the European Core and the Balkans

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2014-12

Author

Rüma, İnan

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The 1990s were marked with the transition process that aimed to transform the central command economies to liberal free market economies and the single party regimes to multiparty democracies. The result has been mostly the reproduction of the peripheral characteristics of the Balkans. The shortcomings of the process have been asserted as if the deficiencies were local and hence the Balkan countries were to blame for it. Few could predict that the core would be in crisis. The 2008 crisis in the core directly affected the periphery - the Balkans - where GDP decreased and unemployment and budget deficits rose up. Following a decade of destruction through violence and a decade of destruction in the name of neoliberalism, the Balkan region has once again been experiencing peripheralisation. This study attempts to examine the way in which such a reproduction of the peripheralisation occurred.

Subject Keywords

Political economy, Balkans, Transition, Crisis, Core-periphery

URI

http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/732
https://hdl.handle.net/11511/58267

Journal

ODTÜ Gelişme Dergisi

Collections

Department of Economics, Article

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Citation Formats

İ. Rüma, “The Economic Crisis of 2008: Reproduction of the Core-Periphery Relations between the European Core and the Balkans,” ODTÜ Gelişme Dergisi, vol. 41, no. 3, pp. 297–322, 2014, Accessed: 00, 2020. [Online]. Available: http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/732.