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The Economic Environment in Albania, Bulgaria, Macedonia FYR, and Greece: A Cross-Country Study

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  • Garabed Minassian

Abstract

This article reviews the economic environment of selected Balkan economies. As a longstanding member of the European Union (EU), Greece leads the neighboring economies in terms of GDP per capita and as a destination for foreign direct investment (FDI). Comparisons of nominal and purchasing power parity GDP highlight the large spread between the price levels in the Balkan economies in transition and the EU. Despite a number of obstacles, the Balkan transition economies have managed to stabilize price growth and to lay the foundations for future economic growth. The role of the both as a source of material support for the region and as a source of policy advice and direction is critically evaluated with respect to stabilization and macroeconomic policy. The article also reviews the slow emergence of economic institutions and the negative effects of corruption on the region's prospects for growth and for attracting FDI.

Suggested Citation

  • Garabed Minassian, 2002. "The Economic Environment in Albania, Bulgaria, Macedonia FYR, and Greece: A Cross-Country Study," Eastern European Economics, Taylor & Francis Journals, vol. 40(4), pages 45-82, July.
    • Handle: RePEc:mes:eaeuec:v:40:y:2002:i:4:p:45-82
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    Cited by:

    1. Stoyan Totev, 2003. "Cross-Border Economic Cooperation in South East Europe in the Framework of the Globalizing Market," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 118-131.
    2. Dimitrov, Mitko, 2004. "Cooperation of the Enterprises in East European Countries and EU: Adjustment Problems," MPRA Paper 57235, University Library of Munich, Germany.
    3. Paschalis ARVANITIDIS & George PETRAKOS, 2008. "Metropolitan Development And Cooperation In South-Eastern Europe," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 27, pages 133-159.
    4. Herzfeld, Thomas & Kulyk, Iryna & Wolz, Axel, 2018. "Is Agribusiness Different? Firm-Level Evidence of Perceived Corruption in Post-Soviet Countries," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 56(6), pages 504-521.
    5. Enida Pulaj (Brakaj) & Vasilika Kume, 2013. "How The Albanian External Environment Affect The Construction Industry," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-24.

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