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Ekonomika preduzeća
2019, vol. 67, iss. 3-4, pp. 261-272
article language: English
document type: Original Scientific Paper
published on: 08/07/2019
doi: 10.5937/EKOPRE1904261S
Industrial policy and state incentives in Serbia
University of Belgrade, Faculty of Economy, Department of Economic Policy and Development

Abstract

Activities resulting from industrial policy are economically justified under certain circumstances. Focusing on the neoclassical case for industrial policy, a number of market failures can justifiably prompt the public sector to intervene in the process of allocating resources among economic activities or sectors. State incentives are an integral part of industrial policy and belong to the measures that the state uses to affect the market position of individual enterprises. They have to be applied very carefully, taking into account their positive and negative sides. One of the main reasons for justification of state investment incentives is their direct effect on the increase in investment volume, employment growth and the creation of a more attractive business environment for both domestic and foreign investors. The analysis in this paper is dedicated to identifying the factors most affected by state aid in 72 successfully completed projects for attracting investments in the industry of Serbia from 2006 to March 2017. The research used the Delphi method, as a technique of forming expert group opinion. After a short review of the size and structure of state incentives in the Republic of Serbia, an explanation of the detailed methodological research procedure follows.

Keywords

industrial policy; state incentives; effects of industrial policy; Delphi method

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