The first generation of reforms in Serbia, especially in 2001–2002, was carried out “by the book” but the initial successful results blurred and concealed numerous problems that, especially in 2003, were becoming more evident and, finally, caused a delay in, and the blockade of, the...

Since the end of 1999, Montenegro belongs to a group of dollarised economies. The process of dollarisation in Montenegro has had positive implications on economic performance. However, by renouncing the issuance function, the country gave up some significant monetary policy attributes. Since the...