Privatization in Serbia - Success or Failure? Observing the Progress and the Macroeconomic Effects of a Delayed Privatization Process

Abstract: The fall of the Berlin Wall in 1990 signified a new era in European history. Most of the former socialist countries started a process of transition from centrally planned to the market economy already in 1990. Many studies have been undertaken with the aim of analyzing the effects of privatization and transition in former Soviet countries, but there is significantly less literature about privatization progress in former Yugoslav countries. Therefore, the purpose of this study is to fill in the gap in the existing literature by focusing on exploring the progress and effects of the privatization process in Serbia. This study will provide the reader with an insight into the progress and effects of privatization process in Serbia. It will also give a further understand about the reasons behind the delay of reforms and how that affected the success of Serbia’s privatization in the last ten years. Finally, the study will also throw light on the present situation and what reforms need to be more emphasized in the future.