In Serbia, as well as in all the countries in transition, the process of political and economic transition is based on the development of the private sector and entrepreneurship. This also implies creating a favourable business environment for the development of SMEs. The purpose of this chapter...

In order to improve innovation capacity across economy, economic policy should work on closing financial gap existing between capital demand and supply side. This gap comes from bank sector dominance and its characteristic as a financial source not interested in financing activities in different...

The chapter explores current stance of developments in Serbian credit market, by looking at credit aggregates and interest rates. Although, there are signs of weak credit market, full scale credit crunch is so far avoided thanks to efforts coordinated by the key stakeholders: IMF, National Bank...

Serbian economy has been severely affected by the latest global economic crisis. After salient slowdown in the last quarter of 2008, the national economy went into recession that was followed by gradual reductions in GDP and employment, transient fall in the rate of inflation and sustained rise...

The aim of this chapter is to examine whether corporate governance in Serbia is based on affirmation of responsible and ethical conduct. The concept of corporate governance refers to the system by which companies are managed and controlled in order to generate long term economic value for its...

Structural change is a phenomenon that is experienced as a result of changes that are affecting economic and social environment in a certain country. In 2000 Serbia has entered into a long period of economic transition. Since, it has gone through a harsh economic structural change. Following the...

Since its creation, the euro has raised high expectations among the investors and within the countries that chose to adopt it. This chapter aims to study the possibility of the European single currency becoming an international reserve currency. With the financial crises that started in August...

By defining some behaviors as crimes, law defines incentives and protects society from direct and indirect, tangible and intangible negative impacts. Whatever the severity of the prescribed penalties for those that prevaricate, society and its institutions need to act at the level of law...

The chapter analyses Serbian financial markets: capital market, money market and foreign exchange market. Market fall of 26% was determined during 2011 compared to the record breaking 2008, despite a visible recovery after 2009 and 2010. Foreign exchange market has dominated with the average 62%...

Freedom of movement for the companies on the EU internal market is protected by the right of establishment which is guaranteed by The Treaty Establishing of the European Community. The company’s founders, according to the right of establishment, should be free to set up a company in any Member...