• citations in SCIndeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:19
  • full-text downloads in 30 days:8


article: 1 from 9  
Back back to result list
2021, vol. 14, iss. 2, pp. 81-100
Comparative analysis of public enterprise management in the Republic of Serbia
aUniversity 'Union - Nikola Tesla', Faculty of Economics and Finance, Belgrade
bVisoka škola strukovnih studija za menadžment i poslovne komunikacije, Novi Sad,
Keywords: management of public enterprises; business analysis of large republican infrastructural public enterprises; reform priorities
The results of a comparative study of the effects of state and public enterprise management in transition economies have classified Serbia as a group of countries with inefficient management. Transition countries, members of the EU, achieve better management performance of state-owned enterprises than non-EU countries, due to stronger institutions, efficient state aid rules, as well as greater transparency of budget support. The global pandemic in 2020 and increased health, economic and social risks, in many transition countries have not affected the slowdown of structural reforms in public enterprises, on the contrary, a special focus was directed towards upgrading the mechanisms of management of public enterprises, strengthening the anti-corruption policy, digitalization of state services, etc. The research of the reform balance of the management of large republican public infrastructure enterprises in the Republic of Serbia has shown that the state has major problems in the management of enterprises that are in its portfolio and under its control. Their business poses a permanent budget risk, directly affecting economic growth and key macroeconomic aggregates. Large infrastructure public enterprises have a dominant share in the energy and transport sectors, which affects the business of the entire economy. The balance of their business in the period of economic boom is in increasing discrepancy with the balance of business of the private sector, which clearly indicates the problem of management. The primary reform task in the management of public enterprises is to improve the accountability, transparency and efficiency of their management.
Newly uploaded article: references checking, normalizing and linking in progress.
Adjémian, S., Cahn, C., Devulder, A., & Maggiar, N. (2008). Variantes en Univers Incertain. Économie et Prévision, 2008 (2-3), 223-238
Arsić, M. (2015). Privatizacija javnih preduzeća u Srbiji. U: Restrukturiranje javnih preduzeća u uslovima institucionalnih ograničenja (str. 105-122). Beograd. NDE i EF
Beddoe, R., Costanza, R., Farley, J., Garza, E., Kent, J., Kubiszewski, I., Martinez, L. & others. (2009). Overcoming Systemic Roadblocks to Sustainability: The Evolutionary Redesign of Worldviews, Institutions, and Technologies. Proceedings of the National Academy of Sciences, 106(8), 2483-2489
Bouis, R., Duval R., & Eugster, J. (2020). How fast does product market reform pay off? New evidence from non-manufacturing industry deregulation in advanced economies. Journal of Comparative Economics, 48(1), 198-217
Bower, U. (2017). State-Owned Enterprises in Emerging Europe: The Good, the Bad, and the Ugly. IMF Working Paper, 17(221), 1-27. IMF. Washington, DC
Bushman, R., & Smith, A. (2003). Transparency, Financial Accounting Information, and Corporate Governance. Economic Policy Review 9(1), 65-87
Ciriaci, D. (2014). Business Dynamics and Red Tape Barriers. Economic Paper, 532. EC
Duval R., & Furceri, D. (2018). The Effects of Labor and Product Market Reforms: The Role of Macroeconomic Conditions and Policies. IMF Economic Review, 66(1), 31-69
EBRD. (2020). Transition Report 2020-2021. Preuzeto sa
Estrin, S., Hanousek, J., Kocenda, E. & Svejnar, J. (2009). The Effects of Privatization and Ownership in Transition Economies. Journal of Economic Literature, 47(3), 699-728
European Commission (EC), Directorate-General for Economic and Financial Affairs. (2016). State-Owned Enterprises in the EU: Lessons Learnt and Ways Forward in a Post-Crisis Context. Luxembourg: Publications Office of the European Union
European Commission. (2020). Serbia 2020 Report. Preuzeto sa
Fiskalni savet RS. (2014). Analiza preduzeća u državnom vlasništvufiskalni aspekt. Preuzeto sa /latinica/analize-stavovi-predlozi.php
Fiskalni savet. (2019). Platni razredi i zaposlenost u državnom sektoru Srbijeod nedovršene reforme do održivog sistema. Preuzeto sa
Foster, V., & Rana, A. (2019). Rethinking power sector reform in the developing world. International Bank for Reconstruction and Development/The World Bank
IMF (IMF staff team led by Richmond, Ch., Dohlman, P., Miniane, J. & Roaf, J. in collaboration with EBRD staff). (2019). Reassessing the Role of State-Owned Enterprises in Central, Eastern, and Southeastern Europe, 19(11), str. 1-114
IMF. (2020). Fiscal Monitor: Policies for the Recovery. Preuzeto sa
Jakopin, E. (2020). Efekti strukturnih promena u privredi Republike Srbijestari problemi, novi reformski izazovi. Ekonomski horizonti, 22(3), 191-208
Madžar, Lj. (2015). Gordijev čvor javnih preduzeća u Srbijidrešiti ili seći? U: Restrukturiranje JP u uslovima institucionalnih ograničenja. Beograd. NDE i EF
Megginson, W. (2000). Corporate governance in publicly quoted companies. U: Corporate governance of stateowned enterprises in China (str. 1-50). OECD
OECD. (2011). State-Owned Enterprise Governance Reform. OECD
OECD. (2015). Guidelines on Corporate Governance of StateOwned Enterprises. OECD
OECD. (2017). The Size and Sectoral Distribution of State-Owned Enterprises. OECD
OECD. (2018). Ownership and Governance of State-Owned Enterprises: A Compendium of National Practices. OECD
Pan, X., Chen, X., Sinha, P. & Dong, N. (2020). Are firms with state ownership greener? An institutional complexity view. Business Strategy and the Environment, 29, 197-211
Putnins, T. (2015). Economics of State-Owned Enterprises. International Journal of Public Administration 38(11), 815-32
Schwartz, G., Fouad, M, Hansen T., & Verdier, G. (2020) How Strong Infrastructure Governance Can End Waste in Public Investment, IMF Blog [blog post], 3 September 2020, Preuzeto sa
Smith-Bingham, R., Wittenberg, A. & Kaniewski, D. (2020). Building national resilience: Aligning mindsets, capabilities and investments. Marsh & McLennan Advantage
Stošić, I., & Đukić, M. (2016). Potrebe i izazovi restrukturiranja javnog sektora Srbije. U: Pravci strukturnih promena u procesu pristupanja Evropskoj uniji (str. 107-127). Beograd, IEN
Woetzel, J., N. Garemo, J. Mischke, P. Kamra & R. Palter. (2017). Bridging Global Infrastructure Gap: Has the World Made Progress. McKinsey Global Institute. Preuzeto sa
WEF. (2021). The Global Risks Report 2021. 16th Edition. Preuzeto sa
World Bank. (2014). Corporate Governance of State-Owned Enterprises: A Toolkit. World Bank Group, Washington, DC


article language: Serbian
document type: Professional Paper
DOI: 10.5937/etp2102081J
received: 11/06/2021
revised: 14/06/2021
accepted: 22/06/2021
published in SCIndeks: 30/07/2021
Creative Commons License 4.0

Related records

No related records