Vuković, Vlastimir and Minović, Jelena (2013) Prolonged recession in Serbia and recovery prospects. In: Post crisis recovery. Belgrade Banking Academy, Belgrade, pp. 317-327. ISBN 978-86-7852-034-1
Full text not available from this repository. (Request a copy)Abstract
After the recession in 2009, Serbian economy had a very slow recovery. Due to
this, real GDP in 2011 was still lower than three years ago. Simultaneously,
unemployment rate grew rapidly achieving a record 25.5% at the end of the first
half of last year! Fearing that the contraction phase was not over came true in
2012, when GDP again decreased for 1.7%. Statistical data showed that this was a
prolonged double-dip recession as in many other countries, which were exposed to
the impact of the global crisis. However, the domestic economy is burdened by
some great internal problems: record transitional gap, high inflation, volatile
exchange rate and excessively high interest rates. Public debt, budget deficit and
negative net export are also high, although they are similar in relative term as in
other countries. When these weak economic performances are considered in the
context of decreasing investments and languishing credit market, it is clear that the
possibilities of recovery are very weak in 2013 – 2014. Therefore, countercyclical
measures of economic policy are focused in this paper and without them the
recovery is uncertain. Measures of monetary policy directed into ensuring the price
stability and exchange rate stability are especially analyzed.
| Item Type: | Book Section |
|---|---|
| Additional Information: | COBISS.ID=1024541584 |
| Uncontrolled Keywords: | prolonged double-dip recession, transition, recovery, monetary policy |
| Research Department: | Macroeconomics |
| Depositing User: | Jelena Banovic |
| Date Deposited: | 22 Sep 2016 18:33 |
| Last Modified: | 26 Mar 2020 12:11 |
| URI: | http://35.240.28.64/id/eprint/716 |
| Author Links: |
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