The Influences in Changes in Macroeconomic Regime and Policy on the Development of the Foreign Trade of Serbia
Both before and after the UN trade embargo (1992-1995), the foreign trade policy of FR Yugoslavia has been highly autarchic. Until the disingegraditon of SFRY this resulted in a significant underperformance of the foreign trade sector, while later this turned out to (almost) a complete halt in regular foreign trading. The key for boosting foreign trade lies in implementing institutional reforms and liberalization of foreign trade, even prior to the start of a credible mass privatization. This would be the only way to avoid creation of unproductive private monopolies and might present a way out of permanent recession of the Serbian economy.
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