ABSTRACT
In 1946, Yugoslavia became the second country after the Soviet Union to establish a command economy. Yugoslavia became the first socialist market economy—and, to date, the only one—with the added dimension of workers' self-management. Self-management and marketization of the Yugoslav economy essentially date from 1953. In firms with fewer than thirty employees, the entire personnel, except the top management, constitutes the workers' council. As in socialist countries, Yugoslav workers often have a specific right to a specific type of job in a specific place, as opposed to a general right of employment. Yugoslavia's financial institutions are mainly banks, and its banking system has evolved away from structures common to Eastern Europe. The present financial system includes a Post Office Savings Bank and a number of other savings banks, as well as savings and loan cooperatives, insurance companies, and credit funds.
