The Influence of the Financial System Efficiency and Diversity on the Sustainable Development of the Republic of Serbia

Ostojić, Ivana and Petrović, Predrag (2024) The Influence of the Financial System Efficiency and Diversity on the Sustainable Development of the Republic of Serbia. In: The Impact of the Quality of Institutions on Sustainable Development. Institute for Sociological, Political and Juridical Research, “Ss. Cyril and Methodius” University in Skopje, North Macedonia, Skopje, pp. 11-30. ISBN 978-9989-633-67-6

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Abstract

The paper analyzes the degree of bank-centricity of the domestic financial system, as well as the negative consequences for sustainable growth and development resulting from the focus of the financial system on banks. The subject of the research is the concentration level in the domestic banking sector and determining the dominant position of banks. Also, the achieved levels of development of the financial systems of the transition countries in the neighborhood, their structure and diversity will be analyzed and compared with the Serbian financial system. The results of empirical research examining the opinions of experts in the field of economics and finance and representatives of the banking and private sector will be presented and analyzed, which should provide answers to the research questions that were raised in the paper, which concern the analysis of the financial system of Serbia and its bank-centricity, the sustainability of the current structure of financial institutions and giving specific recommendations for the improvement of the financial system of Serbia.

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