Privatization and Company Restructurings Impact on Serbia

Main Article Content

Ivan Stošić

Abstract

Effects of privatization and company restructurings performed up to now in Serbia, besides certain results, are unsatisfying generally observed. One of the key negative consequence of these processes is a severe downfall in number employed persons. However, the conducted analysis suggests that trends of employment (and unemployment) have been intensely influenced by the certain number of other factors, first and foremost by the negative effects of the global financial crisis. Nevertheless, the research indicates that the process privatization and restructuring had undoubtedly a powerful negative impact on the level of employment in Serbia. As though privatization and restructuring of a significant number state owned enterprises (which employ a large number of persons) are still to come, this processes could have a strong further negative impact on employment. Consequently, the paper provides some lessons that can help the policy makers in conducting forthcoming privatization and enterprises restructurings.

Article Details

Section
Part II: Economic Growth, Employment Policy and EU

References

Analysis of privatization effects (2011), Agency for privatization
Begović Boris, Four years of transition in Serbia (2005), Centre for liberal and democratic studies, Belgrade
Bulletin of Public Finance of the Republic of Serbia (2013), Ministry of finance of Republic of Serbia
Case Study on Labour Force Restructuring in Serbia (2008), ILO/CONZIT, Belgrade
Cerović Božidar (2009), Serbia in transition and crisis, Transition in Serbia, NDEJ and Economic Faculty Belgrade
Denisova Irina, Eller Markus, Frye Timothy, Zhuravskaya Ekaterina (2006), Who Wants to Revise Privatization and Why? Evidence from 28 Post-Communist Countries, The World Bank's Annual Bank Conference on Development Economics (ABCDE) "Beyond Transition," St. Petersburg, Russia
Drašković Božidar (2010), End of privatization and the consequences for development, Research monograph: Kraj privatizacije posledice na ekonomski razvoj i nezaposlenost u Srbiji, Institute of Economic Sciences, Belgrade
Djukić Petar (2010), Završetak privatizacije- efekti na razvoj i zaposlenost, Research monograph: Kraj privatizacije posledice na ekonomski razvoj i nezaposlenost u Srbiji, Institute of Economic Sciences, Belgrade
Erić Dejan, Stošić Ivan, Stefanović Sasa (2009), Privatization and restructuring process of Serbian economy, Monograph: Economic integrations, competition and cooperation, Faculty of Economics Rijeka, Croatia
EBRD Transition Report 2011.
EC Labour force survey, Eurostat- .www.ec. Europa.eu.- online
Labour and Welfare Impact Study of RTB Bor (2006), Institute of Economic Sciences and CONZIT, Belgrade
Kosanović Rajko, Paunović Sanja, Žigmund Ljuban (2014), Privatizacija i deindustrijalizacija u Republici Srbiji Research monograph: Kraj privatizacije posledice na ekonomski razvoj i nezaposlenost u Srbiji, Institute of Economic Sciences, Belgrade
Kovačević Mlađen (2010), Privatizacija u začaranim krugovima, Research monograph: „Deindustrijalizacija u Srbiji, mogućnost revitalizacije industrijskog sektora", Institute of Economic Sciences, Belgrade
Megginson William, The Financial Economics of Privatization, New York: Oxford University Press, 2005.
Megginson William and Netter Jeffry (2001), From State to Market: A Survey of Empirical Studies on Privatization, Journal of Economic Literature, June 2001.
Paunovic Blagoje, Fabris Nicola, Phillips Ray, Fetsi Anastasia and Huitfeld Henrik (2005), Labour market review of Serbia, working paper, ETF
Restructuring in Europe 2008, A review of EU action to anticipate and manage employment change (2008), Commission Staff Working Document, Commission of the European Communities, Brussels, SEC (2008)xxx
Restructuring in Europe 2011, Restructuring and anticipation of change, what lessons from the economic crisis? (2012), Commission Staff Working Document, Commission of the European Communities, Brussels, SEC(2012) 59 final
Stošić Ivan, Stefanović Sasa, Vukotić-Cotič Gordana (2009), Privatization and Restructuring of Serbian Economy Real and Banking Sector, Research monograph: Challenges of economic sciences in the 21st Century, Institute of Economic Sciences, Belgrade
Zubović Jovan, Domazet Ivana (2010), Transition and employees in Serbia, Research monograph: Kraj privatizacije posledice na ekonomski razvoj i nezaposlenost u Srbiji, Institute of Economic Sciences, Belgrade