Foreign Long Term Government Loans of Serbia 1862-1914

  • Dragana Gnjatović Geoekonomski fakultet, Megatrend univerzite
Keywords: Serbia, economic history, soveriegn debt, debt management, national debt


The paper present the serbian foreing governmental loans up to WW I. The first part of the paper explains the reasons for which Serbia borrowed capital abroad before 1914. Heavy government borrowing is considered within the framework of changed political and economic conditions on Balkans after Berlin Congress in 1878. The second part of the paper discusses institutional arrangements for the participation of foreign representatives in Serbian government debt management. The third part of the paper deals with the price Serbian government had to pay for foreign loans until the end of 19th and at the beginning of 20th century.