POST-CRISIS SITUATION IN FINANCIAL MARKETS IN SERBIA AND THE NEIGHBORING COUNTRIES

Abstract

The effects of the global economic crisis are visible in capital markets
around the world, as well as in Serbia, whose financial market, otherwise underdeveloped and insufficiently liquid, is additionally burdened with the effects
of the global crisis.
The aim of the paper is to analyze the financial market in Serbia, with a special focus
on the Belgrade Stock Exchange in the post-crisis period, and to provide an overview
of the measures that can contribute to the development of the aforementioned market
and stock exchange operations. In the first part of the paper, we discussed the interrelationship between the economy and financial markets, the significance of people’s savings and the possibilities of using savings for the development of the financial market
in Serbia. In the continuation of the paper, we presented the comparative analysis of
trading on the Belgrade, Ljubljana and Zagreb Stock Exchange. Then we analyzed
the Serbian capital market, as well as the reasons for the insufficient development of
the market, which is manifested by weak economy and absence of strategic incentives
of the state. Based on the results of our observations and analyses performed by experts in the country and the region, we discussed the development opportunities for the
Belgrade Stock Exchange and the capital markets in Serbia, as an integral part of the
domestic economic system.