State, Institutional Infrastructure and Transition Engineering in Republic of Serbia

Radical changes in the transition should enable the restructuring of the economy and financial markets, involvement in European and worldwide integration streams, influx of capital and creation of a favorable business environment. The creation of market infrastructure demands time and cannot, except in specific segments, be created by decrees. The implementation of changes in the economical and institutional environment has to be a sensibly channeled process. Apart from the reconstruction of the existing institutions, new institutions have to be created and substantial changes of their functioning have to be implemented. The underlying assumptions in the process of establishment of the goals and means of transforming the Serbian economy are the norms of a liberal market economy and the demands for an integral market and the universal action of market mechanisms. Thereby, a critical standpoint and selectiveness in the choice of methods for the creation of the transition, especially in the case of an installation of liberalism norms, must exist. The worldwide financial crisis points out the significant limitations of neoliberalism. The role of interventionism through state is more significant