Albania’s Transformation since 1997: Successes and Failures

Abstract

In 1997 Albania experienced a collapse of order and widespread violence, which resulted in a situation where the government was overthrown and some 2,000 people were killed.

Stability of the Ponzi scheme phenomenon

“…Крах финансовых пирамид в Албании в 1997 г. интерпретируется в том числе и гипотезой финансовой нестабильности, предложенной Х. Мински (Bezemer, 2001). В странах Восточной Европы конца XX в. правительства зачастую финансировали свою деятельность через схему Понци, что приводило к кризису государственных финансов или, по меньшей мере, к разбалансировке их устойчивости в долгосрочной перспективе (Leonte, 2011;Jusufi, 2017). В последние годы финансовые пирамиды активно появляются в странах Африки, что связано с ростом доходов, усилением неравенства на фоне быстрых изменений по формированию финансовой системы этого региона (Krige, 2012;Beek, 2020).…”

Human Trafficking, Vulnerability and the State

“…Albania's transitional period from communism to democracy, which began in 1990, led to the establishment of new structures for profiting from the country's resources. 53 As the pyramid schemes collapsed and many people lost their life savings, an opposition political party opened the prisons and released the inmates. All manner of guns and munitions were abandoned and could be taken freely.…”

From Negative to Positive Peace in Western Balkans: A Case for Eclectic Theory

“…46 The Albanian state of the early 1990s, which no longer had the centrally controlled order of communism and which had all the weak state features of a post-communist society, descended into a disillusioned transition process that was certain to collapse -and so it did in 1997 as CEJISS 3/2019 a result of the breakdown of fraudulent financial pyramid schemes. 47 Levitsky and Way defined the regime in Albania in the early 1990´s as competitive authoritarian, where formal democratic institutions were widely viewed as the principal means of obtaining and exercising political authority and where, however, incumbents violated those rules so often and to such an extent that the regime failed to meet conventional minimum standards for democracy. 48 For FYROM, in 1990 the form of government peacefully changed from the socialist state to parliamentary democracy.…”