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Western Balkan Integration and the EU : An Agenda for Trade and Growth

Author

Listed:
  • Sanjay Kathuria

Abstract

The report suggests that improving and sustaining export performance and thereby gross domestic product (GDP) growth will require sustained improvement in foreign direct investment (FDI) inflows, pointing again to the need for significant structural reform. Despite recent increases, FDI inflows in South East Europe 5 (SEE5) remain low and below potential. The onus for encouraging FDI falls on structural reforms, given the above limits on both fiscal and monetary policy. Deeper integration within Central European free trade area (CEFTA) countries will increase market size, improve service quality, and help attract FDI. Deeper integration among SEE countries such as through the completion of the implementation of CEFTA 2006, the reduction of border frictions through the establishment of a single management of Border crossing points, the regionalization of the rules of origin among CEFTA 2006 countries, and the expansion of SEE participation in pan European/Mediterranean cumulating of origin arrangements (an ongoing process) will contribute to market contestability and the development of a larger market, thereby helping to attract FDI. Deeper integration among CEFTA countries in services could also contribute to improving service quality significantly, thereby enhancing the overall productivity of the economies. This report mentions several areas, in different sectors, where there can be opportunities for regional harmonization and cooperation, including those areas where the agenda is defined by commitments to the acquis.

Suggested Citation

  • Sanjay Kathuria, 2008. "Western Balkan Integration and the EU : An Agenda for Trade and Growth," World Bank Publications - Books, The World Bank Group, number 6446, December.
    • Handle: RePEc:wbk:wbpubs:6446
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    Citations

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    Cited by:

    1. Matija Rejec & Slavica Penev, 2011. "Attractiveness of Western Balkan Countries for FDI," Book Chapters, in: Mirjana Radovic Markovic & Srdjan Redzepagic & João Sousa Andrade & Paulino Teixeira (ed.), Serbia and the European Union: Economic Lessons from the New Member States, edition 1, volume 1, chapter 2, pages 27-46, Institute of Economic Sciences.
    2. Mojsoska-Blazevski, Nikica & Petreski, Marjan, 2010. "Western Balkan’s trade with the EU and CEFTA-2006: Evidence from Macedonian data," MPRA Paper 41942, University Library of Munich, Germany.
    3. Qorraj Gazmend, 2018. "Towards European Union or Regional Economic Area: Western Balkans at Crossroads," Naše gospodarstvo/Our economy, Sciendo, vol. 64(1), pages 11-17, March.
    4. Zamira Sinaj & Rezarta Hasanaj & Fatmir Memaj, 2016. "Albania’s European Integration Process and the Impact it Has on the Business Climate between Albania and Italy (Vlora City Case)," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 5, December.
    5. Valerija Botrić, 2010. "Foreign Direct Investments In Western Balkans: Privatization, Institutional Change And Banking Sector Dominance," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 55(187), pages 7-31, October –.
    6. Orszaghova, Lucia & Savelin, Li & Schudel, Willem, 2013. "External competitiveness of EU candidate countries," Occasional Paper Series 141, European Central Bank.
    7. Dr. Marios P. Efthymiopoulos & Dr. Valbona Zeneli, 2012. "From Transition to Opportunity: Security through Economic Development & Institutional Strengthening," Research in World Economy, Research in World Economy, Sciedu Press, vol. 3(2), pages 29-40, September.
    8. Jelena Vapa-Tankosic & Miroslav Stojsavljevic, 2012. "New Perspectives for Economic Growth: Agribusiness as Serbia's Way Out of Crisis," Book Chapters, in: Paulino Teixeira & António Portugal Duarte & Srdjan Redzepagic & Dejan Eric (ed.), European Integration Process in Western Balkan Countries, edition 1, volume 1, chapter 37, pages 726-740, Institute of Economic Sciences.
    9. Slavica Penev & Andreaj Marusic, 2012. "Importance of the EU Integration Process for the Improvement of Legal Environment in Western Balkan Countries," Book Chapters, in: Paulino Teixeira & António Portugal Duarte & Srdjan Redzepagic & Dejan Eric (ed.), European Integration Process in Western Balkan Countries, edition 1, volume 1, chapter 27, pages 529-544, Institute of Economic Sciences.
    10. Borko Handjiski, 2009. "Investment Matters : The Role and Patterns of Investment in Southeast Europe," World Bank Publications - Books, The World Bank Group, number 5920, December.
    11. Agim Mamuti, 2013. "The Competitiveness of the Economy of Bosnia and Herzegovina," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 130-137, October.
    12. Botrić Valerija & Broz Tanja, 2016. "Competitiveness, Trade with the EU and Labour Markets: Challenges for the Western Balkans," South East European Journal of Economics and Business, Sciendo, vol. 11(2), pages 20-32, December.
    13. Orszaghova, Lucia & Savelin, Li & Schudel, Willem, 2013. "External competitiveness of EU candidate countries," Occasional Paper Series 141, European Central Bank.
    14. Marios Efthymiopoulos & Valbona Zeneli, 2015. "From Transition to Opportunity: Security, Institutional Strengthening and Economic Development. Southeastern Europe Revisited," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(4), pages 838-855, December.
    15. Borko Handjiski & Lazar Sestovic, 2011. "Barriers to Trade in Services in the CEFTA Region," World Bank Publications - Books, The World Bank Group, number 2337, December.
    16. World Bank, 2009. "Macedonia - Moving to Faster and More Inclusive Growth A Country Economic Memorandum : Main Report and Annex," World Bank Publications - Reports 3067, The World Bank Group.
    17. Sklias, Pantelis & Tsampra, Maria, 2012. "Towards an analytical framework of regional integration in Western Balkans," MPRA Paper 36504, University Library of Munich, Germany.
    18. Aliu, Armando, 2012. "International Migration and the European Union Relations in the Context of a Comparison of Western Balkans and North African Countries: Controlling Migration and Hybrid Model," MPRA Paper 38931, University Library of Munich, Germany.
    19. Paulino Teixeira & António Portugal Duarte & Srdjan Redzepagic & Dejan Eric (ed.), 2012. "European Integration Process in Western Balkan Countries," Books, Institute of Economic Sciences, edition 1, volume 1, number euinpro.
    20. Florentina Xhelili Krasniqi & Rahmije Mustafa Topxhiu, 0. "Export and Economic Growth in the West Balkan Countries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 20(65), pages 88-104, September.
    21. Kosovka Ognjenovic & Aleksandra Brankovic, 2011. "Changes in the Structure of Commodity Trade Between the Western Balkna Countries and the European Union Over the Previous Ten Years," Book Chapters,, Institute of Economic Sciences.

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