IDEAS home Printed from https://ideas.repec.org/a/srb/journl/y2012i1-2p79-93.html
   My bibliography  Save this article

Structural Transformations - A Development Imperative

Author

Listed:
  • Edvard Jakopin

    (Ministry of Finance Department of National Development)

  • Jurij Bajec

    (University of Belgrade Faculty of Economics Department of Economic Theory and Analysis)

Abstract

Economic growth is not possible without structural changes. The economic structure of an economy depends on the degree of development and of its comparative industrial advantages.The analysis of reform experiences shows that transition results depend both on the speed of implemented reforms and on the starting position. Generally speaking, economic growth was higher in those transition economies where reforms were faster than in those that pursued a strategy of gradual development. The crisis brought to the fore the importance of industrial policy, particularly in transition economies. A development imperative of the Serbian economy are structural changes in manufacturing industry. The industrial structure in place is characterized by low level of value added generated by exports. The paper emphasizes the significance of three focal points of structural transformations: reformulation of macroeconomic policies to prop up industrial development, the development of dynamic entrepreneurship, and regional development of industry. Structural transformations are of decisive importance to the reallocation of resources to more productive sectors of the economy and for making room for new enterprises and development of the entrepreneurial sector

Suggested Citation

  • Edvard Jakopin & Jurij Bajec, 2012. "Structural Transformations - A Development Imperative," Serbian Association of Economists Journal, SAE - Serbian Association of Economists, issue 1-2, pages 79-93, February.
  • Handle: RePEc:srb:journl:y:2012:i:1-2:p:79-93
    as

    Download full text from publisher

    File URL: http://www.ses.org.rs/ekonomika-preduzeca/2012-1-2-07.pdf
    Download Restriction: no

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:srb:journl:y:2012:i:1-2:p:79-93. 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: (Milos Stamatovic) or (Rebekah McClure). General contact details of provider: http://edirc.repec.org/data/yueaaea.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.