Privatization and Company Restructurings Impact on Serbia
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Abstract
Effects of privatization and company restructurings performed up to now in Serbia, besides certain results, are unsatisfying generally observed. One of the key negative consequence of these processes is a severe downfall in number employed persons. However, the conducted analysis suggests that trends of employment (and unemployment) have been intensely influenced by the certain number of other factors, first and foremost by the negative effects of the global financial crisis. Nevertheless, the research indicates that the process privatization and restructuring had undoubtedly a powerful negative impact on the level of employment in Serbia. As though privatization and restructuring of a significant number state owned enterprises (which employ a large number of persons) are still to come, this processes could have a strong further negative impact on employment. Consequently, the paper provides some lessons that can help the policy makers in conducting forthcoming privatization and enterprises restructurings.
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