摘要：Using the total factor productivity(TFP)approach we empirically estimated the differences in economic efficiency of private industrial firms in Serbia.On the panel data from a sample of 567 companies in the period 2005-2007,it was found that majorityforeign owned companies,as well as export-oriented and newly-founded private firms recorded higher productivity than the average in Serbia by 18%,37% and 26% respectively.From the regional aspect,the biggest differences in productivity resulting from foreign capital ownership are seen in the region of Central Serbia,whereas exportoriented and newly-founded firms were most efficient in the area of Belgrade.
