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2015, vol. 9, iss. 1, pp. 159-176
Serbia's credit market: Tiredness or collapse?
Institute of Economic Sciences, Belgrade, Serbia,
European integrations and social and economic changes in Serbian economy on the way to the EU (MESTD - 47009)
Challenges and Prospects of Structural Changes in Serbia: Strategic Directions for Economic Development and Harmonization with EU Requirements (MESTD - 179015)

Keywords: credit market; financial crysis; banks; recession; creditless recovery; monetary policy
The contractions in the Serbian credit market analyzed in this paper affect banking as well as real sector. Declining of domestic banks' credit businesses was especially emphasized in the last year's IMF report (IMF, 2013), but in the meantime domestic credit flows have additionally withered. Therefore, the question arises whether it is a temporary lagging or the collapse of this market? The performed analysis has offered an answer: Serbian credit market is not collapsing, but it is showing long-term lagging. The financial crisis and the recession disable market revival, while occasional periods of domestic economy's anemic recovery go without a major credit support from the banks (creditless recovery). The structure of this paper is accommodated to the defined goal: firstly, the ratio between credit and economic recovery is investigated (1), then the definition of Serbian credit market (2) and its dynamics (3) is analysed, as a base for evaluating the trend and giving forecast about this market (4). Key research data and recommendations about the monetary policy are given in the conclusion (5).
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article language: Serbian
document type: Original Scientific Paper
DOI: 10.5937/PosEko1501159V
published in SCIndeks: 30/08/2015

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