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Policy Options for Competitiveness and Economic Development in the Western Balkans: the Case for Infrastructure Investment

Author

Listed:
  • Mario Holzner

    (The Vienna Institute for International Economic Studies, wiiw)

Abstract

Summary The Western Balkans are a region with a substantial economic catch-up potential. Compared to other European economies these countries are either poor or very poor. Structural underdevelopment and low competitiveness impede the catch-up process. Mass unemployment and a huge trade deficit indicate heavy internal and external imbalances. Short-run policy measures should focus on fiscal devaluation and NPL resolution to foster cost competitiveness and private investment. A ‘Big Push’ in infrastructure investment is imperative for long-term prosperity. An investment volume of EUR 7.7 billion as envisaged in the ‘Berlin Process’ has the potential for an additional GNP growth impulse of about 1% p.a. and a positive employment effect of up to 200,000 people in the region.

Suggested Citation

  • Mario Holzner, 2016. "Policy Options for Competitiveness and Economic Development in the Western Balkans: the Case for Infrastructure Investment," wiiw Policy Notes 16, The Vienna Institute for International Economic Studies, wiiw.
    • Handle: RePEc:wii:pnotes:pn:16
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    File URL: https://wiiw.ac.at/policy-options-for-competitiveness-and-economic-development-in-the-western-balkans-the-case-for-infrastructure-investment-dlp-3916.pdf
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    Citations

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    Cited by:

    1. Richard Grieveson & Julia Grübler & Mario Holzner, 2018. "Western Balkans EU Accession: Is the 2025 Target Date Realistic?," wiiw Policy Notes 22, The Vienna Institute for International Economic Studies, wiiw.
    2. Mario Holzner & Monika Schwarzhappel, 2018. "Infrastructure Investment in the Western Balkans: A First Analysis," wiiw Research Reports 432, The Vienna Institute for International Economic Studies, wiiw.

    More about this item

    Keywords

    macroeconomic policy; investment; infrastructure; fiscal devaluation; competitiveness; Western Balkans; Berlin Process;
    All these keywords.

    JEL classification:

    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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