The Serbian Functional Food Market: Does Regulation Make A Difference?
This paper focuses on empirical analysis of the Serbian functional food market and its comparison with those in other Western Balkan countries (WBC). The purpose is to examine whether the existence of regulation, as an institutional precondition, makes a difference on the operating of the functional food market. This market is a new, fast developing segment, based on health claims made for food. Consumers in Serbia cannot verify health claims either before or after the purchase/consumption, since the property rights on information are extremely weak. Additionally, with successful innovation the free-rider problem usually occurs. Thus, strong institutional support is necessary to ensure regular market functioning. In order to identify the effects of regulation and some other factors with crucial influence on the differences between Serbian and other WBC functional food markets, pooled cross sectional analysis is conducted. The fixed-group effects model is estimated based on data of product categories observed across WBC. Differences in the current level of WBC market development could be explained by the existence of legal regulation, competition, and other factors. All results implicate the necessity of regulatory supervision as well as closer cooperation between government, the private sector, consumer groups, academics, and the research community in further functional food market development in Serbia.
Volume (Year): 57 (2012)
Issue (Month): 193 (April- June)
|Contact details of provider:|| Postal: KAMENICKA 6 - 11000 BEOGRAD|
Phone: (381 11) 302122
Fax: (381 11) 639 560
Web page: http://www.ekof.bg.ac.rs/
More information through EDIRC
|Order Information:|| Web: http://ea.ekof.bg.ac.rs/ Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Deepananda Herath & John Cranfield & Spencer Henson & David Sparling, 2008. "Firm, market, and regulatory factors influencing innovation and commercialization in Canada's functional food and nutraceutical sector," Agribusiness, John Wiley & Sons, Ltd., vol. 24(2), pages 207-230.
When requesting a correction, please mention this item's handle: RePEc:beo:journl:v:57:y:2012:i:193:p:53-70. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Goran Petrić)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.