Serbia's Banking Sector Reform: Implications for Economic Growth and Financial Development
Southeast European and Black Sea Studies, Vol. 7, No. 4, pp. 609-636, December 2007
Posted: 19 Dec 2008
Date Written: 2007
General experience suggests a positive and causal link between financial development and economic growth. Is this already the case in Serbia with its quite distinct political and economic transition? Drawing from successful financial sector transition in Central and Eastern Europe (CEE), we discuss ongoing reforms in South Eastern European Countries (SEE) with a specific focus on Serbia. We find that recently tightened bank regulation and supervision, and growing foreign involvement in Serbia, follows the positive experience from CEE in a way that is conducive to economic development.
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