IDEAS home Printed from https://ideas.repec.org/a/scm/ausvfe/v11y2011i1(13)p103-113.html
   My bibliography  Save this article

Western Balkans’ Countries In Focus Of Global Economic Crisis

Author

Listed:
  • Engjell PERE

    (Economic Faculty – European University of Tirana, Albania, Bulevardi “Gjergj Fishta” - Tirana)

  • Albana HASHORVA

    (Economic Faculty –University of Tirana, Albania, Rr. Elbasanit - Tirana)

Abstract

The paper intends to analyze the impact of global economic crisis on the economies of Western Balkan Region. Albania, Bosnia & Herzegovina, Croatia, Macedonia (FYROM), Montenegro, Serbia, and Kosovo are part of this Region. The purpose of the paper is not to analyze the global crisis impact on specific sectors of the economies of the Western Balkan Countries, indeed, it focuses mainly on the macroeconomic level, identifying and analyzing fluctuations of major macroeconomic indicators of the economies of this Region. In this regard the paper analyzes the trends of macroeconomics indicators that reflect the development and macroeconomic balances of those economies, such as GDP, the level of employment, inflation, budget deficit, trade relation, etc, in two periods of time: before the crisis,and during the years of crisis. Highlighting the deterioration of these indicators, the paper tries to identify factors that have contributed to these results, for example the level of opening of the economies of these countries, foreign direct investment, remittances, etc. Analysis of macroeconomic indicators shows that the world economic crisis of 2008 have interrupted the positive trend of the development of the Western Balkan Countries. Characteristic of this influence is the fact that the global crisis actually appeared 9 or 12 months later than what was reflected in the developed European countries. On the other hand, the trend of positive growth, although modest, in industrialized countries starting from 2010, has been confirmed in the Western Balkans as well. The paper has considered the different studies in view of economic development of the Western Balkan countries during the global economic crisis; based also on the data for economic development of these countries provided by the statistics IMF, and in particular on recent reports of the European Commission for EU Candidate and Pre-Accession Countries (October 2010 and January 2011).

Suggested Citation

  • Engjell PERE & Albana HASHORVA, 2011. "Western Balkans’ Countries In Focus Of Global Economic Crisis," The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration, vol. 11(1(13)), pages 103-113, June.
  • Handle: RePEc:scm:ausvfe:v:11:y:2011:i:1(13):p:103-113
    as

    Download full text from publisher

    File URL: http://www.seap.usv.ro/annals/arhiva/ANNALS_vol.11,nr.1(13),2011_fulltext.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Katarzyna Kubiszewska, 2013. "Economic Crisis In Croatia," Oeconomia Copernicana, Institute of Economic Research, vol. 4(2), pages 57-72, June.
    2. Catalin Angelo Ioan, 2018. "Analysis of Natural Movement of Romanian Population During 2007-2014 - IV," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 14(1), pages 243-254, FEBRUARY.
    3. Romeo-Victor Ionescu, 2017. "New Challenges for the Balkan Economies in the Context of the European Union," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(4), pages 39-52, AUGUST.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:scm:ausvfe:v:11:y:2011:i:1(13):p:103-113. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Liviu Scutariu (email available below). General contact details of provider: https://edirc.repec.org/data/feusvro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.