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As a leading mechanism of the global neoliberal paradigm, financialization plays a significant role in the growth of economies and changes in urban development patterns. Though particularly significant for post-socialist European countries, research on urban financialization considering both economic (rental income, property sales, interest rates) and noneconomic aspects (social dynamics, social and legal norms, financialized discourses) is yet to emerge in Serbia. Observing the period after the 2008 global economic and financial crisis, and based on multiple analyses (statistical, documentary and discourse), this paper first provides an overview of different global and national financial indicators, then elucidates the impact of market financing on the built environment at the national level, and, finally, illustrates the financialization of urban planning policies and discourses exemplified in the Belgrade Waterfront urban megaproject. The empirical analysis provides not only an insight into a strong structural and dynamic conditionality between various dimensions of financialization, but also highlights the nuances in decision-making, planning and governance influenced by the financialized discourses. [ABSTRACT FROM AUTHOR]

Over the last three decades, Serbia has moved from a mixed centrally planned – deliberative – self-governing economy to a market-based economy, but key institutional reforms are still not complete. Based on the contextual framework of post-socialist countries and theoretical background, this research focuses on the interaction between spatial regularization and existing planning instruments versus urban land market and land-use policy, and their impact on urban expansion in the Belgrade metropolitan area (BMA). The intention is to clarify the implications of urban land use policies and their (im) balance with planning instruments and the land market. The contextual framework of post-socialist Serbia, the transformation of its urban land policy as well as the land development management in the BMA illustrate complexities of spatial regularization, further emphasized by the delay in introducing and adopting new urban land policy. Key findings include: extremely inefficient urban land use and excessive urban sprawl (in the last two decades the urban area has tripled; with high urban land consumption of 670 m 2 per capita compared to other metropolitan cities); and important role of urban land policy (existing, still untransformed instruments contribute to urban sprawl). [ABSTRACT FROM AUTHOR]

Since the beginning of its post-socialist transition, Serbia has been going through a major political and economic crisis, thus isolated from the mainstream trends of the European integration and convergence. The country's comparative advantages and competitiveness have worsened in terms of two key aspects, that is, its structural qualities and its territorial capital. The economic recovery after the year 2000 assumed a form of “growth without development”, mostly based on poorly legitimized transition reforms, whereby Serbia's inherent unsustainable spatial development patterns have been perpetuated. Today, Serbia finds itself in the position of an economic, ecological and financial semi-colony of a few powerful international political, economic and financial actors, paralleled by the collapse of its strategic thinking, research and governance. Rather bleak development prospects for Serbia call for prompt further research on predictable development scenarios. Therefore, we have discussed the key issues in the current planning system and practice and analysed the basic elements of the prospective future using the scenario approach. [ABSTRACT FROM AUTHOR]

This paper explores the legalization of mass illegal and informal construction (IIC) in Serbia (with particular reference to the city of Belgrade). It analyzes the credibility of the socialist and post-socialist institutional frameworks on IIC predicated upon the "credibility thesis" – an evolutionary understanding of institutions and their path-dependent development. In the empirical analysis, the measures of state policies were interpreted, assessed, and summarized in accordance with the Credibility Scales and Intervention (CSI) checklist. During the 1960s, a restrictive urban policy and the impossibility of the socialist model to provide affordable residential space due to fast urbanization, IIC consequently became an alternative method for meeting housing needs. In the 1990s, the socialist development model was transformed into one that was post-socialist. A new wave of IIC ensued due to the privatization of land-use and tenancy rights, and its vast scale has been a key driver for accommodating flows of immigrants after the break-up of the Socialist Federal Republic of Yugoslavia. During this period, the Serbian State stimulated policies that are more credible to facilitate, formalize, and condone IIC. It is concluded that IIC in Serbia cannot be fully averted while legalization policies have, to date, been unsuccessful and non-credible. • Mass illegal and informal construction in the socialist and post-socialist cities. • Illegal construction as result of normative dissonance and non-credible policies. • Credibility of complex phenomenon of illegal and informal construction in Serbia. • Serbian legalization policies have been unsuccessful and non-credible. [ABSTRACT FROM AUTHOR]