1. Integration in the European Union as a Double-Edged Sword for the Western Balkans
- Author:
- Elena Makrevska Disoska
- Publication Date:
- 05-2017
- Content Type:
- Journal Article
- Journal:
- Journal of Liberty and International Affairs
- Institution:
- Institute for Research and European Studies (IRES)
- 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 the 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.
- Topic:
- Economics, European Union, Regional Integration, and Crisis Management
- Political Geography:
- Europe, Eastern Europe, and Balkans