Serbian Capital Market: Quo Vadis

Year 2017, Volume: 3 Issue: 2, 41 - 46, 15.05.2017

Predrag Dedeic

Abstract

This article
is dealing with present negative trends on Serbian capital market. Those trends
are seen in a way that the current bad situation can be anticipated as an
opportunity. The process of revitalization must encompass a lot of different
subjects and make the balance of their interests. The need for changes is
obvious but how to make it is a challenge that is discussed in the paper. The
particular measures, that have to be incorporated to make the market deeper and
wider, are analyzed thoroughly. How to change the situation where the public
companies are rushing to become closed and IPOs of new ones do not exist?

What is our
capital market policy and how the harmonization, of our legislation and
practice, with EU rules is affecting market participants? How to build the
capacity and independency of Serbian Securities Commission and its relationship
with Ministry of finance make more efficient? How to open the door for new participants
and new instruments such as municipal bonds, green and social bonds and other
debt instruments? Do we need IPO of state enterprises? Dilemmas and answers
linked to those questions and some other, make the substance of this article. 

Keywords

investments, capital market, strategy of capital market development, initial public offering, financial instruments

References

• Guerrero,Tomas (March 2013), ‘Frontier Markets: A World of Opportunities’,<http://ssrn.com/abstract=2245075> 02.03.2017. Black,Bernard (2001), ‘Legal and Institutional Preconditions for Strong Securities Markets’, 48 UCLA Law Review, s.781-782.