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SME Sector Development by Improving Financial Support: Serbia Compared to other SEE Countries

Author

Listed:
  • Sanja Filipovic

    (Economics Institute, Belgrade)

  • Dragana Petrakovic

    (Economics Institute, Belgrade)

Abstract

Expectations of the SME sector in Serbia are high but the position of this section of the Serbian economy is made difficult by numerous obstacles. The existing fiscal and administrative framework is not stimulating and there is a lack of adequate financial support. Therefore, it is necessary to provide a better business environment through access to financial resources, tax incentives, cheaper and faster start–up procedures, development of an institutional basis for representation of SME interests, and creation of educational and training programs for entrepreneurship. The most important financial institutions whose establishment and functioning should be encouraged are: investment companies, micro-finance institutions, venture capital funds, and local development and credit companies.

Suggested Citation

  • Sanja Filipovic & Dragana Petrakovic, 2005. "SME Sector Development by Improving Financial Support: Serbia Compared to other SEE Countries," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 3(2), pages 273-293.
    • Handle: RePEc:seb:journl:v:3:y:2005:i:2:p:273-293
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    More about this item

    Keywords

    SME sector; financial support; fiscal incentives; investment companies; venture capital funds; local development; credit companies;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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