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Intangible Capital in a Transition Economy - Improvements and Constraints: An Analysis of Serbian Firms

Author

Listed:
  • Bozidar Cerovic

    (University of Belgrade, Serbia)

  • Sanja Mitic

    (University of Belgrade, Serbia)

  • Aleksandra Nojkovic

    (University of Belgrade, Serbia)

Abstract

During the 1990s Serbian economy stayed on the margin of major investment flows, technology progress and businesses in international markets. In view of the deficiency in capital except for some FDI, we analyse to what extent Serbian economy can develop some other resources, such as human capital, internal relations, management and marketing skills, innovations and other fields perceived as intangible capital elements. Analysing a total of 71 firms we attempt to identify whether the role of intangible assets was recognised within the firms and - according to the results obtained - to recommend some policy measures. The paper addresses three major issues: (i) human capital accumulation including internal relations, (ii) external relations, as well as (iii) innovation, R&D and competencies.

Suggested Citation

  • Bozidar Cerovic & Sanja Mitic & Aleksandra Nojkovic, 2015. "Intangible Capital in a Transition Economy - Improvements and Constraints: An Analysis of Serbian Firms," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 13(2), pages 109-134.
    • Handle: RePEc:seb:journl:v:13:y:2015:i:2:p:109-130
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    References listed on IDEAS

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    More about this item

    Keywords

    Intangible Capital; Internal Relations; Innovation; R&D; Serbian Economy;
    All these keywords.

    JEL classification:

    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • M53 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Training
    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General

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