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Integration in the European Union as a double-edged sword for the Western Balkans
[journal article]
Abstract By analyzing the impact of the economic crisis on the Western Balkan (WB) countries, the paper concludes that their export, inflow of remittances and FDI have suffered due to the crisis. Regarding the rapid credit growth in years before the crisis it spurred an increase in imports, which in context ... view more
By analyzing the impact of the economic crisis on the Western Balkan (WB) countries, the paper concludes that their export, inflow of remittances and FDI have suffered due to the crisis. Regarding the rapid credit growth in years before the crisis it spurred an increase in imports, which in context of relatively uncompetitive economies, led to increased current account deficits despite significant remittances and FDI inflows. The impact of the crisis in the region can be explained mainly by their degree of European integration. But, the European Union (EU) is more uncertain to embrace the economically weaker countries, causing loss of EU credibility. It seems that the EU integration is a double-edged sword for the WB: in good times EU delivers its prosperity, but at a time of crisis, it is creating instability.... view less
Keywords
EU; European integration; Southeastern Europe; economic crisis; impact; economic development (on national level); direct investment; export; commerce; competitiveness; EU policy
Classification
European Politics
Political Economy
Free Keywords
transmission channel; Western Balkans
Document language
English
Publication Year
2017
Page/Pages
p. 26-36
Journal
Journal of Liberty and International Affairs, 3 (2017) 1
ISSN
1857-9760
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution