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


  • Siniša Mali

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


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.

Suggested Citation

  • Siniša Mali, 2012. "Privatization Through The Sale Of Equity – Conceptual Framework And Achieved Results In Serbia," Serbian Association of Economists Journal, SAE - Serbian Association of Economists, issue 1-2, pages 149-162, December.
  • Handle: RePEc:srb:journl:y:2013:i:1-2:p:149-162

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    More about this item


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

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General


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