What was the social and economic backdrop for launching the Sarajevo Stock Exchange?
Begic: The economy in Bosnia and Herzegovina is still in the postwar recovery phase. Since 1995, local government and the international community have made great efforts to remove the debris of war and the remains of a former socialist economy. This is critical to open Bosnia and Herzegovina to international markets and European integration. To date, economic reforms have produced economic growth, the most stable currency in the region, near-zero inflation, a rebuilt infrastructure, a developed banking sector, upgraded commercial laws, a reformed judicial system, and improved standards of corporate governance. But most importantly, as a direct result of a mass privatization, many people of Bosnia and Herzegovina started to own stock in local companies. The people have participated in financial markets before, but a majority of them were never exposed to practical experiences of securities market. Q: How was the Sarajevo Stock Exchange established? Begic: Established in 2001 by general
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