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English Copyright of Bankarstvo Magazine is the property of Association of Serbian Banks and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder’s express written permission.

In market-oriented financial systems numerous financial institutions intermediate in the process of indirect financing or provide services in the process of direct financing.

Their structure and functions are conditioned by institutional specificities and the level of the concerned financial system’s development. Advanced strategies for global investors, corporation and financial institutions. Berzansko poslovanje efektima sa posebnim osvrtom na trgovanje i aktuelnosti Beogradske berze.

Berze i berzansko poslovanje – Google Books

Journal of Process Management. Given that the achieved balance among the diverse financial flows and diversified financial instruments indicates the level of capital market development, each national economy unquestionably needs to adjust its own development according to the stock exchange market requirements.


Bearing in mind all of the above, this paper will indicate the position of the Belgrade Stock Exchange in relation to the countries in the region, in the period marked by the global recession. The stock exchange market, as an integral part of the financial system, depending on the level berae economic and overall social development, more or less successfully channels financial funds towards various groups of economic entities.


What determines financial markets, and by that the stocks and stock exchange is poslovamje permanent movement of financial instruments and neglecting the national market boundaries. Article add to mySelection [0] full text related records [14] how to cite this article Permalink Article metrics citations in SCindeks: Users should refer to the original published version of the material for the full abstract.

New Technologiesvol.

However, users may print, download, or email articles for individual use. By observing the financial system growth, especially in financial institutions, it can be noticed that there are changes in relative positions of various types of financial agents in developed market industries.


The authors have tried to present the term, meaning and importance of stocks and stock exchange as a part of the financial system of developed countries.

No warranty is given about the accuracy of the copy.

The development of a financial system in transition economies, in line with the needs of market economy, bezre, among other things, the formation of previously non-existent financial institutions – non-deposit financial intermediaries and stock exchange market.

However, remote access to EBSCO’s databases from non-subscribing institutions is not allowed if the purpose of the use is for commercial gain through cost reduction or avoidance for a non-subscribing institution. Keywords capital market ; business ; market ; index ; stock ; shares.

This abstract may be abridged. Remote access to EBSCO’s databases is permitted to patrons of subscribing institutions accessing from remote locations for personal, non-commercial use. Berzanski and stock exchange as a part of financial institutions in developed countries.

Prentice Hall International, Inc, second edition.