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Evaluating the banking reforms in Serbia using survey results

A. Bitzenis (Department of International and European Economic and Political Studies, University of Macedonia, Thessaloniki, Greece)
A. Misic (Europetrol, Vranje, Serbia)
J. Marangos (Department of Economics, Colorado State University, Fort Collins, Colorado, USA)
Andreas Andronikidis (Department of Business Administration, University of Macedonia, Thessaloniki, Greece)

Studies in Economics and Finance

ISSN: 1086-7376

Article publication date: 7 March 2008




The main objective of this paper is to critically examine the effects of the ongoing reform process on the overall functioning of Serbia's banking system. It is essential that this reform process bears fruit by developing a sound, efficient and reliable banking system.


The research results were obtained through exploratory field research. The interviews were aimed at capturing the attitudes of bank managers regarding the country's banking reform process and examining the context of the managers' feelings, thoughts, and actions.


Based on questionnaire results collected from Serbia bank managers in 2004, the findings suggest that the reform process, although characterized as slow and sluggish due to a lack of customer's confidence in banks, has indeed improved the overall functioning of Serbia's banking sector.

Research limitations/implications

This study's weakness is the fact that it was for the most part exploratory research. Conclusions can be drawn from the research, but not at the desired level of cause‐and‐effect.

Practical implications

The Serbian banking reform process can offer lessons for both more and less advanced economies, as it exposes critical problems and mistakes that could be avoided and managed appropriately.


This paper contributes to the research and literature on transition, as Serbia is an area of research in the transition literature, especially regarding the banking sector, which appears to be inadequate and limited.



Bitzenis, A., Misic, A., Marangos, J. and Andronikidis, A. (2008), "Evaluating the banking reforms in Serbia using survey results", Studies in Economics and Finance, Vol. 25 No. 1, pp. 49-71.



Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited

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