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Privatization Through The Sale Of Equity – Conceptual Framework And Achieved Results In Serbia

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  • Siniša Mali

    (Advisor to First Deputy Prime Minister of the Republic of Serbia on economic affairs)

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    Abstract

    Following the political changes in 2000, Serbia aggressively accelerated its process of economic transition, which initially started in 1990. As a key element of its transitional strategy, a new privatization model was defined in order to radically change the ownership structure of the Ser- bian economy. Based on characteristics of the Serbian economy in 2001, the new model stipulated the sale of socially- and state-owned enterpri- ses through tenders, auctions, and auctions on financial markets to stra- tegic and financial investors. As methods of privatization, tenders were used for the privatization of large, while auctions were used for the pri- vatization of medium and small size enterprises. By analyzing the re- sults of implementation of the new privatization model, this paper con- firms a hypothesis that the method of sale was the most adequate pri- vatization model in late transition. In addition, it also confirms that ten- ders were the most suitable method of privatization for large, while auc- tions were the most suitable method of privatization for medium- and small-size enterprises.

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    Bibliographic Info

    Article provided by SAE - Serbian Association of Economists in its journal SAE Journal.

    Volume (Year): (2012)
    Issue (Month): 1-2 (December)
    Pages: 149-162

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    Handle: RePEc:srb:journl:y:2013:i:1-2:p:149-162

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    Related research

    Keywords: economic transition; privatization; methods of sale; public tenders; public auctions;

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