Albania in Crisis: The Predictable Fall of the Shining Star (Elgar Monographs) [Hardcover]

Daniel Vaughan-Whitehead (Author)

Book Description

ISBN-10: 1840640707 | ISBN-13: 978-1840640700 | Publication Date: May 1999

A comprehensive analysis of Albania. Based upon personal experience and an enterprise-level data set, the book offers an alternative view of the 1997 crisis in Albania in which good economic performance suffered a reversal accompanied by social conflicts.

Editorial Reviews

Review

'...this is far and away the finest book on the Albanian economy in the 1990s to have appeared thus far.' -- - Adi Schnytzer, Slavic Review, Vol. 59, No. 2, Summer 2000

'Albania in Crisis will be of great interest not only to those international organizations and experts working on the reconstruction of Albania, but also to other policymakers in the region, and to anybody with a professional, academic or general interest in the "transition".' -- Elizabeth Goodson, International Labour Review

'One of the most comprehensive economic analyses on Albania. Based on personal experience, Daniel Vaughan-Whitehead's book is an excellent alternative approach to the Albanian 1997 crisis explanation. It represents a deep insight into the social problems of a poor but still promising country. Surveys and the enormous work with data are a great help in designing sustainable policies for recovery and growth . . . it will be an excellent addition to the scarce literature on Albania.' -- Marta Muo, Head of Governor's Office, Bank of Albania, Albania

...a comprehensive and timely overview of one of the least known and least understood of the transition economies, Albania. -- - Peter Sanfey, Journal of Comparative Economics

About the Author

Senior Advisor, Central and Eastern European Team, International Labour Office, Budapest, Hungary

Product Details

• Hardcover: 360 pages
• Publisher: Edward Elgar Pub (May 1999)
• Language: English
• ISBN-10: 1840640707
• ISBN-13: 978-1840640700
• Product Dimensions: 9.5 x 6.5 x 1.2 inches
• Shipping Weight: 1.6 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #6,007,155 in Books (See Top 100 in Books)

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2 of 2 people found the following review helpful:

4.0 out of 5 stars The "how" and the "why" this country fell so far so fast, June 24, 2000

By 

Allan M. Gathercoal "fdoamerica" (Norcross, GA) - See all my reviews
(REAL NAME)   

This review is from: Albania in Crisis: The Predictable Fall of the Shining Star (Elgar Monographs) (Hardcover)

Albania from poster child to basket case in seven years.

In 1991, post-communism Albania embraced capitalism like a drunk would a whiskey bottle. In the first few years, the international press boosted Albania as an "economic miracle, (a) Balkan tiger, and (a) rising shining star." In 1997, swept up in the mania of a ponzi-style investment scheme, the Albanian house of cards came tumbling down. It is hard to comprehend the scope of the collapse - more than 75 percent of the population lost all their life savings. Riots, beatings, looting of Army armories, burning of government buildings and rampant mayhem gripped the country for weeks.

Finally, in an effort to stabilize this torn and devastated country, a contingent of multinational troops had to be sent in. A collapse of this magnitude does not have a cause; rather, it is a compendium of factors that cumulate in tragedy.

In Albania in Crisis Daniel Vaughn-Whitehead evaluates the "how" and the "why" this country fell so far so fast. Writing with empirical statistical support, Vaughn-Whitehead pulls no punches as he uncovers the causes of this crisis. The signs of the impending tragedy were there if anyone had looked critically, but the social and economic harbingers were ignored until the very end.

This academic work is recommended for those with an interest in Albania or any emerging post-communist countries.