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Privatisation in Serbia – Results and Institutional Failures

Author

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  • Ivan Vujacic
  • Jelica Petrovic Vujacic

Abstract

Since the beginning of the 1990’s several models of privatization have been applied in Serbia. While much was written concerning the models themselves at the time of their application, remarkably little has been written in regards to the assessment of their implementation over the last decade. The paper investigates the scope, types, and results, with an emphasis on this time period. Given that the official failure rate of privatizations undertaken is around one in four, the paper focuses on the weaknesses of the legal and economic aspects of the model, the weaknesses of the privatisation implementation, and the weaknesses in the monitoring of the privatization process. Another focus is on the inadequate attention paid to the need for institutional coherence, which led to results that were not in accord with the goals set out. The paper will also point out the areas of further research that, in the opinion of the authors, should be undertaken in order to come to an assessment of privatization as the central and most important aspect of the transition.

Suggested Citation

  • Ivan Vujacic & Jelica Petrovic Vujacic, 2011. "Privatisation in Serbia – Results and Institutional Failures," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 56(191), pages 89-106, October-D.
  • Handle: RePEc:beo:journl:v:56:y:2011:i:191:p:89-106
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    Cited by:

    1. Ivanović, Vladan & Kufenko, Vadim, 2020. "It's a man's world? The rise of female entrepreneurship during privatization in Serbia," Hohenheim Discussion Papers in Business, Economics and Social Sciences 07-2020, University of Hohenheim, Faculty of Business, Economics and Social Sciences.

    More about this item

    Keywords

    privatization; property rights; socialist enterprises; transition;
    All these keywords.

    JEL classification:

    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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