ROLE, SIGNIFICANCE AND ENFORCEMENT OF COMPETITION LAW IN SERBIA AS A SMALL MARKET ECONOMY

Abstract

Various developing countries owning legal competition framework have significantly grown over the past decades. Passing of competition law in those economies has been regarded as a path towards pro-market reforms and market liberalization. Taking into consideration that Serbia is both developing and a small market economy, Competition Law in this setting has a rather different role and significance than in developed, big markets. This notion makes Serbian Competition Law far different and peculiar, but its mere adoption is not enough to secure us its efficient enforcement. In order to achieve the latter, certain preconditions must be met and antitrust policy must be adjusted to existing market structure.