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A composite indicator for economic integration maturity: the case of Western Balkan countries

Author

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  • Viktória ENDRÅ DI-KOVà CS

    (Corvinus University of Budapest, Hungary)

  • Oleg TANKOVSKI

    (Corvinus University of Budapest, Hungary)

Abstract

Montenegro and Serbia are on track to join the EU, followed by other Western Balkan countries. The purpose of this study is to demonstrate these countries' economic integration maturity. The analysis covers the period between 2006 and 2019. The main questions concern the evolution of Western Balkan countries during the last 15 years, the results that have already been achieved, and the weakest points of their potential accession. The paper suggests that, although these countries are about to fulfil the economic criteria, they are not fully prepared to join the EU from an economic perspective as they face significant challenges in terms of integration maturity. To endorse this suggestion, the paper forms a new composite indicator to provide a comprehensive understanding of the recent development of these countries' functioning market economy, competitiveness, macroeconomic stability, convergence, and financing ability. Results can contribute to the integration theory and enlargement decision-making.

Suggested Citation

  • Viktória ENDRÅ DI-KOVà CS & Oleg TANKOVSKI, 2022. "A composite indicator for economic integration maturity: the case of Western Balkan countries," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 13, pages 148-166, June.
    • Handle: RePEc:jes:journl:y:2022:v:13:p:148-166
    DOI: https://doi.org/10.47743/ejes-2022-0107
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    References listed on IDEAS

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    2. Aneta Krstevska, 2018. "Real Convergence of Western Balkan Countries to European Union in view of Macroeconomic Policy Mix," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 7(2), pages 187-202.
    3. Viner, Jacob, 2014. "The Customs Union Issue," OUP Catalogue, Oxford University Press, number 9780199756124 edited by Oslington, Paul.
    4. Dzenita Siljak & Sándor Gyula Nagy, 2018. "The Effects of the Crisis on the Convergence Process of the Western Balkan Countries towards the European Union," Society and Economy, Akadémiai Kiadó, Hungary, vol. 40(1), pages 105-124, March.
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