Historical development of the privatization concept in Serbia – Experience and conclusions

Privatization is a process of crucial importance for the transformation of a planned economy into a market economy. Requirements and procedures for the change of ownership over social and public capital and assets in the Republic of Serbia were regulated by the Law on Privatization (2014). In conceptual terms, privatization is not a novelty, even though rules and legal regulations have changed, evolved and adapted to the needs of the economy and society. The paper analyzed the historical development of the privatization concept in Serbia, considering that it would be interesting to make an overview of the evolution of privatization from 1989 to 2001 and from 2001 to 2014, as well as the contemporary concept of privatization that was introduced in 2014. In terms of methodology, the paper was based on a theoretical analysis of relevant contemporary views, normative analysis of legislative sources and quantitative analysis of statistical indicators of various parameters of privatization effects from 1989 to the present day. The research was founded on numerical indicators and available data on contemporary theoretical–practical analyses of privatization development in Serbia. This comprehensive research encompassed the entire privatization process, from its initiation in 1989 to the modern concept introduced in 2014.