Serbia'S Transition To Market Economy: Why Has The Model Not Delivered?

Milica Uvalic

Montenegrin Journal of Economics, 2012, vol. 8, issue 2, 87-98

Abstract: The paper discusses the transition to a market economy in Serbia, a country that until the early 2000s was one of the principal laggards in the transition region. The paper tries to explain why Serbia, which had a relatively good starting position in 1989, has encountered substantial delays in carrying forward the main objectives of the transition to a market economy. Despite political stabilization and many positive economic achievements, the post-2001 transition strategy has not delivered the expected results. The strategy was based on the hyper-liberal model which placed emphasis on liberalization, stabilization and privatization, in line with the recommendations of the "Washington consensus", neglecting many other important areas of reform. With the new post-2000 turn towards the market mechanism, the essential role of the state and of state institutions was underestimated, which contributed to various long-run failures.

Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://repec.mnje.com/mje/2012/v08-n02/mje_2012_v08-n02-a14.pdf (application/pdf)
http://repec.mnje.com/mje/2012/v08-n02/mje_2012_v08-n02-a14.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mje:mjejnl:v:8:y:2012:i:2:p:87-98

Access Statistics for this article

Montenegrin Journal of Economics is currently edited by Veselin Draskovic

More articles in Montenegrin Journal of Economics from Economic Laboratory for Transition Research (ELIT)
Bibliographic data for series maintained by Nikola Draskovic Jelcic ().