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The Western Balkans: Weak Performance since the Crisis

Author

Listed:
  • Marek Dabrowski

    (Bruegel, Brussels
    Higher School of Economics, Moscow
    CASE – Center for Social and Economic Research, Warsaw)

  • Yana Myachenkova

    (Bruegel, Brussels)

Abstract

In the early and mid-2000s, the prospect of EU accession and the global boom facilitated rapid economic recovery and boosted economic and institutional reforms in the Western Balkan region. The global financial crisis of 2007–2009 and the European crisis of 2010–2013 slowed the pace of economic growth and amplified high unemployment in the region. In addition, various unresolved legacies from past conflicts slowed the pace of reform and progress towards EU accession. The European Commission’s February 2018 communication sets an indicative deadline (2025) for the two most advanced candidates – Serbia’s and Montenegro’s admission to the EU. This could incentivise all Western Balkan countries, including those candidates that have not yet started membership negotiations (Macedonia and Albania) and those waiting for candidate status (Bosnia and Herzegovina and Kosovo), to remove domestic political obstacles to EU accession, solve conflicts with neighbours, speed up reforms and accelerate economic growth.

Suggested Citation

  • Marek Dabrowski & Yana Myachenkova, 2018. "The Western Balkans: Weak Performance since the Crisis," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 68(supplemen), pages 85-120, November.
    • Handle: RePEc:aka:aoecon:v:68:y:2018:i:supplement2:p:85-120
    Note: This is a substantially expanded, revised and updated version of our paper published in the Bruegel Policy Contribution in 2018. The authors would like to thank Alexander Lehmann, J. Scott Marcus, André Sapir, Ben Slay, Alessio Terzi, Nicolas Véron, Guntram Wolff and Georg Zachmann for their comments on an earlier version of this paper. However, authors assume the full responsibility for its content. Opinions presented in this paper can be attributed solely to authors and not necessarily to institutions, which they are affiliated to.
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    More about this item

    Keywords

    Western Balkans; global financial crisis; European Union; EU accession; economic integration; economic reforms; institutional reforms;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F15 - International Economics - - Trade - - - Economic Integration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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