Subsequently, the experience the United States, Europe, and other advanced countries had is that, once a large-scale bubble bursts and a financial crisis occurs, economic adjustment becomes protracted and, in the meantime, the economy is forced to grow at a low rate – a phenomenon repeated over and over in history.
As a result, the dinar was more stable during this period than the currencies of other East European countries with flexible exchange rate, even without the National Bank of Serbia’s interventions in the foreign exchange market.