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The Serbian Economy Ten Years After The Global Economic Crisis

Author

Listed:
  • Milica Uvalić
  • Božidar Cerović†
  • Jasna Atanasijević

Abstract

The global financial crisis hit the Serbian economy severely in late 2008. The subsequent decade has been characterized by negative or very modest economic growth and Serbia is now just slightly above the development level of ten years ago. This paper analyses the most im-portant economic milestones during this decade and investigates why only modest progress has been made, despite various measures implemented by the Serbian gov-ernment. It examines the background to Serbia’s delayed transition and analyses the effects of the global economic crisis on the Serbian economy. It outlines the policy re-sponses and their results, focusing on public finance, foreign trade, reindustrialisation, FDI, the labour market, and sources of growth. The paper sets out the key challeng-es to accelerating Serbia’s economic growth and identifies the main elements of a new long-term development strategy.

Suggested Citation

  • Milica Uvalić & Božidar Cerović† & Jasna Atanasijević, 2020. "The Serbian Economy Ten Years After The Global Economic Crisis," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 65(225), pages 33-72, April – J.
    • Handle: RePEc:beo:journl:v:65:y:2020:i:225:p:33-72
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    References listed on IDEAS

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    1. Will Bartlett & Ivana Prica, 2011. "The Variable Impact of the Global Economic Crisis in South East Europe," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 56(191), pages 7-34, October-D.
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    Cited by:

    1. Marijana Maksimović & Neven Cvetičanin & Ivan Nikolić, 2024. "Between Geopolitics And Geoeconomics – The Influence Of Foreign Direct Investments (Fdi) On The Economy Of Serbia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 69(243), pages 69-92, October –.
    2. Miroljub Labus, 2020. "Transition And Post-Conflict Macroeconomic Policies In Serbia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 65(226), pages 73-102, July – Se.
    3. Jasna Atanasijević & Marko Danon & Zorana Lužanin & Dušan Kovačević, 2022. "Shadow Economy Estimation Using Cash Demand Approach: The Case of Serbia," Sustainability, MDPI, vol. 14(20), pages 1-19, October.

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    Keywords

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    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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