Supporting local economic development by infrastructure debt financing in the Republic of Serbia

Abstract

The main goal of this paper is to establish grounds for a more efficient development of local communities taking into consideration their entire former development characterized by a pronounced polarization and territorial inequality of development exhibited among them in extreme proportions. In view of the insufficient and inadequate decentralization performed without a specific concept in the past, the authors aim to analyze the state of the local infrastructure within the framework of territorial organization offered by the latest regulations, as well as estimate the goals set in the last couple of years by the support programs related to the development of local infrastructure provided by the international institutions. The authors have a similar goal in that sense to provide sufficient argumentation for a quality distribution of local infrastructure and, accordingly, more efficient local development as a prerequisite for a more uniform regional development, especially in rural areas.