IDEAS home Printed from https://ideas.repec.org/a/spr/jknowl/v10y2019i3d10.1007_s13132-018-0531-3.html
   My bibliography  Save this article

Meeting the Global Challenges of Doing Business in the Five Candidate Countries on the Road to Join the European Union

Author

Listed:
  • Victor Bahhouth

    (The University of North Carolina at Pembroke)

  • Christopher Ziemnowicz

    (The University of North Carolina at Pembroke)

Abstract

The success of indigenous business firms is no longer exclusively an internal process given increasing competition and globalization. Achieving success under dynamic conditions requires active involvement of governments to provide proper environments for local businesses to survive global challenges. Many also want to attract foreign investors to start new businesses. The role of governments is no longer limited to providing preconditions for basic infrastructure needs but now also includes fortifying business environmental factors such as the Internet, legal systems, trained work forces, and equitable tax systems. The purpose of this study is to investigate the conditions in Albania, The Former Yugoslav Republic of Macedonia (FYROM), Montenegro, Serbia, and Turkey. Using the Enterprise Survey from the World Bank, this study evaluates these nations’ adaptation to the global challenges of doing business. These five nations were selected because of their status of potentially joining the European Union (EU). The findings indicate that there are problems and significant gaps among these nations. Suggestions include that national leaders develop policies that go beyond simply addressing the identified obstacles. Additionally, company managers can also use the insights from this study when evaluating these nations as potential EU members before entering these markets.

Suggested Citation

  • Victor Bahhouth & Christopher Ziemnowicz, 2019. "Meeting the Global Challenges of Doing Business in the Five Candidate Countries on the Road to Join the European Union," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(3), pages 1297-1318, September.
    • Handle: RePEc:spr:jknowl:v:10:y:2019:i:3:d:10.1007_s13132-018-0531-3
    DOI: 10.1007/s13132-018-0531-3
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13132-018-0531-3
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13132-018-0531-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Marco Alfano & Christian Dustmann & Tommaso Frattini, 2016. "Immigration and the UK: Reflections After Brexit," Development Working Papers 402, Centro Studi Luca d'Agliano, University of Milano, revised 28 Sep 2016.
    2. Paulo Vieira da Cunha & Daniela Silva Pires & Wenersamy Ramos de Alcântara, 2009. "Inflation Targeting and Exchange Rate: Notes on Brazil’s Experience," Chapters, in: Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), Monetary Policy Frameworks for Emerging Markets, chapter 10, Edward Elgar Publishing.
    3. Siong Hook Law & W. N. W. Azman-Saini & Hui Boon Tan, 2014. "Economic Globalization and Financial Development in East Asia: A Panel Cointegration and Causality Analysis," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 50(1), pages 210-225, January.
    4. Zhang, Chengsi & Clovis, Joel, 2010. "China inflation dynamics: Persistence and policy regimes," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 373-388, May.
    5. William Gruben & Darryl Mcleod, 2004. "The openness-inflation puzzle revisited," Applied Economics Letters, Taylor & Francis Journals, vol. 11(8), pages 465-468.
    6. David Romer, 1993. "Openness and Inflation: Theory and Evidence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(4), pages 869-903.
    7. Ludek Niedermayer, 2009. "Czech Experience with Inflation Targeting," Chapters, in: Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), Monetary Policy Frameworks for Emerging Markets, chapter 11, Edward Elgar Publishing.
    8. World Bank, 2016. "The World Bank Annual Report 2016," World Bank Publications - Books, The World Bank Group, number 24985, December.
    9. Cristina T. Terra, 1998. "Openness and Inflation: A New Assessment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(2), pages 641-648.
    10. Marianna Makri & Michael A. Hitt & Peter J. Lane, 2010. "Complementary technologies, knowledge relatedness, and invention outcomes in high technology mergers and acquisitions," Strategic Management Journal, Wiley Blackwell, vol. 31(6), pages 602-628, June.
    11. Temple, Jonathan, 2002. "Openness, Inflation, and the Phillips Curve: A Puzzle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(2), pages 450-468, May.
    12. Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), 2009. "Monetary Policy Frameworks for Emerging Markets," Books, Edward Elgar Publishing, number 13504.
    13. Fernando Hervás Soriano & Fulvio Mulatero, 2010. "Knowledge Policy in the EU: From the Lisbon Strategy to Europe 2020," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 1(4), pages 289-302, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chengsi Zhang, 2016. "How Has Globalisation Affected Inflation in China?," The World Economy, Wiley Blackwell, vol. 39(2), pages 301-313, February.
    2. César Calderón & Klaus Schmidt-Hebbel, 2010. "What Drives Inflation in the World?," RBA Annual Conference Volume (Discontinued), in: Renée Fry & Callum Jones & Christopher Kent (ed.),Inflation in an Era of Relative Price Shocks, Reserve Bank of Australia.
    3. Cavelaars, Paul, 2009. "Does globalisation discipline monetary policymakers?," Journal of International Money and Finance, Elsevier, vol. 28(3), pages 392-405, April.
    4. Megha Chhabra & Qamar Alam, 2020. "An empirical study of trade openness and inflation in India," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 47(1), pages 79-90, March.
    5. Christopher Bowdler & Adeel Malik, 2005. "Openness and inflation volatility: cross-country evidence," CSAE Working Paper Series 2005-08, Centre for the Study of African Economies, University of Oxford.
    6. Sikdar, Asaduzzaman & Kundu, Nobinkhor & Khan, Zakir Saadullah, 2013. "Trade openness and inflation: A test of Romer hypothesis for Bangladesh," MPRA Paper 65244, University Library of Munich, Germany, revised 16 Oct 2013.
    7. Mostafa SALIMIFAR & Mohammad Javd RAZMI & Zahra TAGHIZADEGAN, 2015. "A survey of the effect of trade openness size on inflation rate in Iran using ARDL," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(604), A), pages 143-154, Autumn.
    8. Daniels, Joseph P. & VanHoose, David D., 2009. "Openness, income-tax progressivity, and inflation," Journal of Macroeconomics, Elsevier, vol. 31(3), pages 485-491, September.
    9. Philipp F. M. Baumann & Enzo Rossi & Alexander Volkmann, 2020. "What Drives Inflation and How: Evidence from Additive Mixed Models Selected by cAIC," Papers 2006.06274, arXiv.org, revised Aug 2022.
    10. Christopher Bowdler, 2003. "Openness and the Output-Inflation Tradeoff," Economics Papers 2003-W04, Economics Group, Nuffield College, University of Oxford.
    11. Lein, Sarah M. & León-Ledesma, Miguel A. & Nerlich, Carolin, 2008. "How is real convergence driving nominal convergence in the new EU Member States?," Journal of International Money and Finance, Elsevier, vol. 27(2), pages 227-248, March.
    12. Hülya Saygılı, 2020. "Sectoral inflationary dynamics: cross-country evidence on the open-economy New Keynesian Phillips Curve," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 156(1), pages 75-101, February.
    13. Andrea Vaona, 2015. "The price-price Phillips curve in small open economies and monetary unions: theory and empirics," International Economics and Economic Policy, Springer, vol. 12(2), pages 281-307, June.
    14. Joseph Daniels & David VanHoose, 2009. "Trade Openness, Capital Mobility, and the Sacrifice Ratio," Open Economies Review, Springer, vol. 20(4), pages 473-487, September.
    15. Goran Petrevski & Jane Bogoev & Bruno Sergi, 2012. "The link between central bank independence and inflation in Central and Eastern Europe: are the results sensitive to endogeneity issue omitted dynamics and subjectivity bias?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 34(4), pages 611-652.
    16. Adolfo Sachsida & Mário Jorge Cardoso de Mendonça, 2006. "Inflation and Trade Openness Revised: an Analysis Using Panel Data," Discussion Papers 1148, Instituto de Pesquisa Econômica Aplicada - IPEA.
    17. Sachsida, Adolfo & Carneiro, Francisco Galrao & Loureiro, Paulo R. A., 2003. "Does greater trade openness reduce inflation? Further evidence using panel data techniques," Economics Letters, Elsevier, vol. 81(3), pages 315-319, December.
    18. Badinger, Harald, 2009. "Globalization, the output-inflation tradeoff and inflation," European Economic Review, Elsevier, vol. 53(8), pages 888-907, November.
    19. Zelealem Yiheyis, 2013. "Trade Openness and Inflation Performance: A Panel Data Analysis in the Context of African Countries," African Development Review, African Development Bank, vol. 25(1), pages 67-84, March.
    20. William Gruben & Darryl Mcleod, 2004. "The openness-inflation puzzle revisited," Applied Economics Letters, Taylor & Francis Journals, vol. 11(8), pages 465-468.

    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:spr:jknowl:v:10:y:2019:i:3:d:10.1007_s13132-018-0531-3. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.