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Challenges Of Sustainable Economic Development In Albania

Author

Listed:
  • HYSA, Eglantina

    (Epoka University, Tirana, Albania)

  • MANSI, Egla

    (Epoka University, Tirana, Albania)

Abstract

After the post-communism transformation, implementation of free-market organizations, and progression of living standards, post-transition countries like Albania, seem to highly depend on good governance. As such in this paper, we are going to discuss the main factors hindering back the development of Albanian’s economy. More specifically the relationship of the number of populations, trade, governance, inflation, remittances, wages and labor. This article adopts a qualitative methodology approach. The duration period of the following analysis will start from the post-transition phase 2000 until 2019. We noticed that population, FDI, remittances and good governance were the main factors hindering the development of Albania’s economy. On the other hand, factors like labor and trade had no significant impact on our case. The limitations of the study consisted of the lack of data before 1990, as there is no information and finding a solution as to why Albania is still a developing country.

Suggested Citation

  • HYSA, Eglantina & MANSI, Egla, 2020. "Challenges Of Sustainable Economic Development In Albania," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 8(1), pages 197-208, October.
    • Handle: RePEc:vls:rojfme:v:8:y:2020:i:1:p:197-208
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Trade; Labor; Population; Good Governance; Sustainable Development;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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