The economies of the European countries are still in recession, the development process is at a standstill, companies are facing financial difficulties, and the EU’s monetary policy is tight and focused on lowering inflation. The fiscal problems and high debt levels of the northern European countries are of great importance, and they are the consequences of both the European economy’s structural characteristics and the EU’s policies. The economic area of Eastern Europe, the Balkans and the Black Sea countries is also vital, due to its special economic characteristics. The effects of the economic crisis on this particular area are catalytic, while the prospects for recovery are doubtful. The present book deals with the key aspects of the economic crisis in Europe, especially focusing on southeast Europe and the Balkans. The consequences of the crisis in these countries are analyzed and suggestions for how to address the crisis are outlined.

The rapid changes in the economic and political climate of the Balkan and the Black Sea countries demand continuous adjustments in the mixture of the implemented economic policy in the area. Under this framework, there is a special interest to investigate the impact of the global economic reality in these economies, the importance of their integration in the European Union, as well as the foundation of various regional organizations that host many countries of the specific area. Taking into consideration the current developments within the European Union, the economic crisis that strikes the peripheral EU countries and the dispute over the credibility of the euro currency, economists need to enhance the effectiveness of regional development, to underline the value of FDI and entrepreneurship of the countries of the Balkan and the Black Sea, to assist the bank sector in order to support the level of productivity, to control the financial flows with the help of auditing structures and to exploit human recourses in order to achieve economical reforms in these countries. The current volume approaches, among others, the above matters and aspires to contribute to the further investigation of the possibilities and the perspectives of the economies of the region.

This report analyses the main economic developments and achievements in the Western Balkan countries, and lays out the key macroeconomic policy challenges for the future.

The recession, which started in the USA in autumn 2007, spread to the rest of the world in 2008 and 2009. The Balkan countries were hit hard by the recession. Closely tied to the European Union, they felt the full blow of the crisis in the Eurozone. In a narrow sense, this crisis was caused by weaknesses, contradictions, and inconsistencies of the EMU. In a wider sense, the common denominator of the Great Recession and the crisis in the Eurozone could be found in huge imbalances generated by market fundamentalism and the inability of the neoliberal concept of capitalism to achieve major socioeconomic goals.

The book investigates the scope and limitations of the transformative power of EU enlargement in the Western Balkans. The extension of EU enlargement policy to the region has generated high expectations that enlargement will regulate democratic institution-building and foster reform, much as it did in Central and Eastern Europe. However, there is very little research on whether and how unfavourable domestic conditions might mitigate the transformative power of the EU. This volume investigates the role of domestic factors, identifying ‘stateness’ as the missing link between the assumed transformative power of the EU and the actual capacity to adopt EU rules across the region. Including chapters on Croatia, Serbia, Macedonia, Albania, Kosovo, and Bosnia-Herzegovina, leading scholars in the field offer up-to-date comparative analysis of key areas of institutional and policy reform; including state bureaucracy, rule of law, electoral management, environmental governance, cooperation with the International Court of Justice, economic liberalization and foreign policy. Looking to the future and the implications for policy change, European Integration and Transformation in the Western Balkans provides a new theoretical and empirical focus on this little understood area. The book will be of interest to scholars and students of EU politics, comparative democratisation, post-communist transitions and Balkan area studies.

This edited volume brings together original scientific studies on current economic and developmental issues in the Balkan region, and is composed of papers by 25 authors from seven different countries. The Balkan region has gained significant interest in recent years due to its location and strategic position, representing a doorway to Europe, and the region’s stability and progress have direct consequences on various European countries. Because of this strategic position, there is currently much debate regarding a potential partnership of the Balkan states with the European Union. This book offers insights into the current economic and developmental status of the countries in this region, offering a series of chapters that analyse the area from a variety of perspectives. It begins with a discussion on the recent history of the region, especially with reference to the former Yugoslavia and its break-up after the turbulence experienced in 1990s. Other sections are complementary to each other in that they offer comparisons of the Balkan states in their economic progress at the micro and macro levels. Topics such as European integration policies and effects, economic transition, regional trade, tax incentive policy, regional capital markets, regional development agencies and systems, remittances and foreign aid contributions, import-export policies, fiscal policies, analysis of regional microfinance, and the tourism sectors are explored in detail throughout the book.

This Brief provides a survey of key political, social, and economic issues affecting the Western Balkans region. Taking a two-pronged conceptual approach focusing on fragmentation and integration, the volume highlights commonalities and differences in a number of simultaneous dynamics currently characterizing the region: Europeanization and EU access, market integration, and migration and socio-demographic transformations. Stressing the interconnectedness of these issues, the volume synthesizes key questions for the future of the region, such as the relationship between socio-demographic trends and economic development, the effects of depopulation on further EU integration, and the economic and political repercussions of enhanced intra-regional trade. Explicitly interdisciplinary, this Brief will be useful for researchers and students specializing in the Balkans and Western Balkans, post-socialist countries, European affairs, enlargement, foreign policy, international relations, regional studies, economics, economic transition, and socio-demographics.

This book explores the key economic issues facing Southeastern Europe and Bosnia and Herzegovina, within the context of the serious challenges that the global economy has faced in recent years. The book combines rigorous analysis of the issues faced by the region with a constructive approach to identifying solutions for a positive future trajectory. The book starts by exploring the economic challenges facing the world economy both before and during the global economic crisis. The second part of the volume focuses on south-eastern Europe, and especially on the Western Balkans, assessing the best ways of achieving a positive economic future for small open economies in the region. The final part of the volume examines the economic challenges in Bosnia and Herzegovina. The final section examines the economic challenges in Bosnia and Herzegovina, arguing that it is most useful to view the country within the context of the regional and global economies. The book will be extremely useful for scholars working on European Economics, transition economics, and the global economy and the financial crisis.

The Western Balkan countries have been both a popular subject matter for diachronic analysis and a 1990s favorite. The significant changes that followed the most recent times of conflict in the region mostly evolve around the process of Europeanization. Despite the plethora of analyses, most approaches to the Western Balkans suffer from theoretical stagnancy, ex parte political practice, and detachment of politics from societal needs. This volume is the work of a team of theorists and practitioners who attempt a multidisciplinary approach to Western Balkans reality. An Agenda for the Western Balkans offers a critical view on issues that have been over-analyzed in mainstream terms and opens a discussion that will occupy researchers and practitioners for years to come. It addresses novel topics and engages in innovative approaches that cut across disciplines of social sciences (political science, international relations, sociology, historiography, geography, political economy) and levels of analysis (local, national, regional, European, global). This collection is a pioneer theoretical and practical guide towards a sustainable future for the Western Balkans.