Impact of Global Economic Crisis on Development of Serbia

Miljana Barjaktarevic and Dusica Karic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2011, vol. 57, issue 2

Abstract: The global economy is in the middle of across-the-board crisis, which started on real estate market, spreaded through unregulated financial system and led to crisis of credit market and later to crisis of employment. Up today it developed in complex vicious circle, with the price drop of real estates and the growth of unemployment together with the struggle against the crisic of credit market. This crisis spreads equaly to developed as well as to undeveloped countries, and thus didn`t go round Serbia. When economies start to recover, there must not be return to usual way of business. The new national and global strategy is needed which would restore the financial markets and their main function of providing the stable and payable financing of productive investments in real economy. Beside this, there is need to establish the new model of economic development which would be economically effective, socially rightful and ecologically sustainable.

Keywords: Financial; Economics (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:288749

DOI: 10.22004/ag.econ.288749

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