Property Rights, Liberty, and Corruption in Serbia
By Milic Milovanovic
This article appeared in the Fall 2007 issue of The Independent Review

Since Serbia began to privatize state-owned enterprises in the early 1990s, only small-scale industrial plants and a few big firms have acquired new private owners. This failure owes much to the naïve assumptions of the western advisors who recommended privatization methods that were highly vulnerable to corruption.

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