Uticaj privatizacije na održivi razvoj srpske privrede
Effects Of Privatisation On The Sustainable Development Of Serbian Economy

Summary/Abstract: Intensifying the process of transition towards a market economy at the beginning of 21st century opened a new chapter in the development of Serbian economy and created the conditions for solving the complex economic, social and environmental situation in the context of building a new economic system. The open model of privatization has emerged not only as an instrument for successful transition, but as a condition for: (1) increasing the efficiency of the domestic economy, through the establishment of better corporate governance over production factors, (2) raising the level of technological development and thereby conditioned modernization of the economy, and (3) achievement of sustainable economic growth, productive employment and improvement of the state of environment. Precisely because privatization offers an opportunity to generate longterm sustainable results in the environment, and, therefore, the achievement of sustainable development, this paper aims to conribute to a clearer understanding of the effects of privatization on the sustainable development of the Serbian economy. Special attention will be dedicated to the importance of foreign direct investment for sustainable development, which, to date, through the channel of privatization, made the greatest impact on the development of Serbian economy in transition.

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