Protection of investors as a factor of competitiveness of economy - Serbia vs Western Balkans countries

Stevanović, Slavica and Belopavlović, Grozdana (2014) Protection of investors as a factor of competitiveness of economy - Serbia vs Western Balkans countries. In: Contemporary trends and prospects of economic recovery. CEMAFI International Association, Nice, pp. 645-657. ISBN 978-2-9544508-5-8

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Abstract

Effective investor protection acts as an incentive to the business environment of a country, contributing to the development of financial markets and improving the competitiveness of the economy as a whole. Investment security and greater inflow of capital into the national economy is largely dependent on the efficiency of corporate regulation and the quality of the institutional environment. A relevant factor in attracting investors by corporate responsible companies is self-regulation and voluntary adoption of good corporate governance practices. The aim of the paper is to analyze the competitiveness of the Serbian economy and the countries in the region in terms of protecting the rights of investors. In the first part of the paper the authors analyze the protection of investors' rights in Serbia at the macro and micro levels, with special attention to the protection of the rights of minority shareholders. After identifying the key internal and external mechanisms of protection, the paper highlights the problems and challenges facing investors in Serbia. In order to identify the international competitive position of Serbia, in a special part of the paper, a comparative analysis of the level of protection of the rights of investors in the Western Balkans countries has been carried out.

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