scholarly journals The Impact of Corruption, Economic Freedom and Urbanization on Economic Development: Western Balkans versus EU-27

2020 ◽  
Vol 12 (22) ◽  
pp. 9743
Author(s):  
Nerajda Feruni ◽  
Eglantina Hysa ◽  
Mirela Panait ◽  
Irina Gabriela Rădulescu ◽  
Alina Brezoi
Keyword(s):  
Economic Development ◽  
Economic Freedom ◽  
Negative Impact ◽  
Least Square ◽  
Western Balkans ◽  
Independent Variables ◽  
Eu Countries ◽  
Balkan Countries ◽  
The Impact ◽  
The Eu

The topic of economic development has been addressed in recent decades from more and more points of view in order to identify the factors with significant impact on this phenomenon. Identifying the factors and measuring their impact on economic development are essential starting points for adopting the necessary public policies. Similar types of research for the Western Balkan countries and comparative analyses between the Western Balkans and the European Union countries are limited in number. Hence, the main purpose of this paper is to empirically test the impact of corruption, economic freedom, and urbanization on the economic development for both the Western Balkan countries and the EU countries for the period 2009–2018 to provide a comparative analysis for these two groups. The corruption perception index, economic freedom index, and urban population growth are chosen as independent variables, whereas the dependent variable of the human development index (HDI) represents economic development. Using the Random Effects model, which falls under the Panel Generalized Least Square method, the empirical analysis suggests that corruption has a negative impact on economic development, while economic freedom and urbanization have a positive impact on the economic development for both groups of countries. However, the impact of corruption is more destructive in the Western Balkans, and they appear to benefit more from economic freedom and urbanization as compared to the EU countries. Whether the impact of the chosen independent variables is restricted to any component of the HDI in particular is left open for further studies in the future, though the results of this paper are highly significant and in accordance with the reviewed literature.

scholarly journals The effect of regional tourism on economic development: Case study: The EU countries

2021 ◽  
pp. 67-75
Author(s):  
Andriy Motsa ◽  
Svitlana Rybakova ◽  
Tetiana Shelemetieva ◽  
Iryna Zhuvahina ◽  
Liliia Honchar
Keyword(s):  
Economic Development ◽  
Negative Impact ◽  
Tourism Industry ◽  
Quantitative Methodology ◽  
Short Term ◽  
Eu Countries ◽  
Regional Tourism ◽  
Regional Strategies ◽  
The Impact ◽  
The Eu

Transformations of the tourism market structure in a pandemic necessitate a study of the extent to which EU countries can provide their citizens with tourism products to minimize the negative impact of the pandemic and, consequently, the negative impact on economic development. This article aimed to develop recommendations for minimizing the negative impact of reducing regional tourism on economic development through the support of domestic tourism. This research uses a quantitative methodology based on indicators of growth of tourist external and internal flows in the regions, the growth rate of economic regions of the EU for 2015-2019. The following countries were selected for correlation analysis: Belgium, Bulgaria, Czech Republic, Germany, Estonia, Greece, Spain, and Italy. The analysis of the impact of regional tourism on economic development in the EU for 2015-2019 indicates the need to develop regional strategies for smart specializations of the tourism industry based on the most attractive industries for tourists. It is determined that within the EU, economic development is less dependent on developed tourist regions due to potentially low tourist costs, as a result - short-term revenues from the industry. It is proved that regions with a high level of tourist flows can provide economic development by increasing the innovation of industries related to tourism, as such industries attract tourists. In a pandemic, businesses need to focus on promoting regional products and shift the focus to domestic consumption within the country. The theoretical value of this study is that regional tourism affects the economic development of the EU countries through the total costs of tourists, the volume of which in the short term has a negligible impact on the region's development. At the same time, the income of the tourism industry as a contribution to the economy is overestimated in the scientific literature.

scholarly journals The Impact of Banking Sector Competition on Banks’ Risk-Taking in Transition Economies of Central and South-Eastern Europe

2018 ◽  
Vol 13 (1) ◽  
pp. 31-42
Author(s):  
Arben Mustafa ◽  
Valentin Toçi
Keyword(s):  
Eastern Europe ◽  
Risk Taking ◽  
Fixed Effects ◽  
Banking Sector ◽  
Negative Impact ◽  
Eu Countries ◽  
South Eastern ◽  
South Eastern Europe ◽  
The Impact ◽  
The Eu

Abstract This paper uses the Panzar-Rosse H-statistic to provide empirical evidence on the impact of competitive behaviour of banks on risk-taking, using the Fixed Effects Vector Decomposition Method on panel data of banks in 15 Central and South-Eastern Europe countries during the period 1999-2009. The findings suggest that banking sector competition has had a negative impact on banks’ risk-taking implying that competition contributed to the improvement of the loan-portfolio quality. However, the results differ significantly when distinguishing between the EU and non-EU countries of the CESEE region. While for the EU countries the relationship between banking sector competition and risk-taking remains negative, this relationship is positive for the non-EU countries of the region, suggesting that an increase of competition in the non-EU countries may be detrimental for the stability of the banking sector in these countries. These results are robust to different model specifications and measures of competition

scholarly journals The Economic Development in the Context of the Development of Foreign Trade in Poland – a Comparison to some EU Countries

2017 ◽  
Vol 17(32) (4) ◽  
pp. 271-279
Author(s):  
Anna Rytko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Foreign Trade ◽  
Test Methods ◽  
Product Diversification ◽  
Indexing Methods ◽  
Eu Countries ◽  
Export Structure ◽  
The Impact ◽  
The Eu

The themes of the impact of foreign trade on economic growth has been repeatedly assumed by investigators and were most often related to various aspects: the openness of the economies, economic prosperity, competitiveness and diversification of export. The objective of the research was the evaluation of changes in economic development and the development of foreign trade in Poland comparing them with the EU and some EU countries. Particular attention was given to the issue of diversification and competitiveness of exports by putting the hypothesis that the greater product diversification of Polish export, the greater its competitiveness, which leads to economic growth. The work uses the following test methods: descriptive methods, statistical methods, the indexing methods of which Indicator of the Absolute Deviations and Revealed Comparative Advantages were calculated. Export diversification can lead to speeding up the pace of economic growth. By analyzing in detail the situations in Poland can conclude that it is advisable to diversify of the export structure.

scholarly journals Comparison of the labor market between the countries of the Western Balkans

2021 ◽  
Vol 5 (2, special issue) ◽  
pp. 135-144
Author(s):  
Bashkim Bellaqa ◽  
Qazim Tmava ◽  
Arif Krasniqi
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Labor Market ◽  
Direct Investment ◽  
Employment Rate ◽  
Western Balkans ◽  
Balkan Countries ◽  
Market Management ◽  
Independent Variable ◽  
The Impact

The improvement of the labor market, the management, the expansion of foreign direct investment, etc., all play a key role in the economic development of the Western Balkans. The main purpose of this study is to analyze and compare trends in employment, unemployment, gross domestic product (GDP), foreign direct investment (FDI), labor market management and to study the effects of foreign direct investment on employment in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro, and Serbia) between 2015 and 2019. However, evidence for FDI’s impact is mixed (Navaretti & Venables, 2004). In terms of methodology, comparative and empirical analyses of the strength of the correlation between the dependent variable of employment and the independent variable of FDI for the countries of the Western Balkans have been conducted. Based on analyses, the employment rate in the six Western Balkan countries in 2019 has improved when compared to 2018, except in Montenegro, where it has declined. This study will contribute to enhance understanding of the labor market and the impact of FDI on employment in the Western Balkan countries

scholarly journals Do Regulatory Measures Necessarily Affect Oman’s Seafood Export-Supply?

SAGE Open ◽  
2020 ◽  
Vol 10 (3) ◽  
pp. 215824402095065
Author(s):  
Amina Al Naabi ◽  
Shekar Bose
Keyword(s):  
Negative Impact ◽  
Production Capacity ◽  
Least Square ◽  
The European Union ◽  
Constant Elasticity ◽  
Trawl Fishing ◽  
Export Supply ◽  
Short Run ◽  
The Impact ◽  
The Eu

This article examines the influence of relative prices, production capacity, gross domestic product, fish export and trawl fishing bans, and seasonality on Oman’s fish exports to the European Union (EU), Southeast-, East- and South Asia (SEA), and the Gulf Cooperation Council (GCC) markets during 2001–2015. Following the prescribed “keep it sensibly simple” rule for practitioners and the lack of any empirical evidence to support better alternatives, a partial adjustment framework is used to describe the dynamics of fish export behavior. The appropriate functional form was decided by testing the nested Cobb–Douglas (CD) hypothesis within the constant elasticity of substitution (CES) specification and the result supports the CD specification. The models were estimated using ordinary least square (OLS). The descriptive statistical results indicate market heterogeneity in species preferences. The empirical results suggest some degree of inertia in adjustment in the EU and SEA markets. The negative impact of the “export ban” on the EU market suggests a “trade-off” between the protection of domestic consumers and the revenue forgone. The export is price elastic in the short-run for the EU market. The impact of the “trawl fishing ban” on the EU and GCC markets was negative and positive, respectively. The significance of “production capacity” for the GCC and SEA markets signals that future enhancement strategies of exports should be aligned with the long-term sustainability of fish resources. The error-correction model could be considered to check the robustness of the present findings. An examination of the sensitivity of export-supply to potential risks should also be useful.

scholarly journals POLITICAL AND ECONOMIC GOVERNANCE: A COMPARATIVE ANALYSIS OF EASTERN EUROPEAN COUNTRIES AND UKRAINE

2019 ◽  
Vol 5 (3) ◽  
pp. 91
Author(s):  
Tamara Latkovska ◽  
Lyubov Bila-Tiunova
Keyword(s):  
The Political ◽  
Economic Governance ◽  
Western Balkans ◽  
The Balkans ◽  
The Third ◽  
Eu Membership ◽  
Balkan Countries ◽  
Balkan Region ◽  
The Impact ◽  
The Eu

The presented work is an attempt to compare the quality of governance in non-EU states in the Western Balkans and Eastern Europe with which the EU Association Agreements have been concluded, and Ukraine, including aspects of the impact of the DCFTA (Deep and Comprehensive Free Trade Areas). The most important issues are the interpretation of the results, the equality of countries, and the political consequences that may arise after the progression and the rapid pace of the member countries of the DCFTA towards the countries of the Balkan region. The identified countries seek full membership in the EU. Although the EU distinguishes between these countries, it recognizes “European prospects”, that is, membership in the EU, the commitments to adopt or approach EU laws and policies, made by both groups of countries, have much in common. This makes the comparison between the countries of the Balkan region and the member states of the DCFTA a sound and politically significant one. Such comparison is facilitated by numerous sources, qualitative assessments, and official ratings. Figuratively by analytical indicators, the countries can be divided into the first group of leading countries (Serbia and Montenegro) for which in February 2018 the European Commission proposed to consider 2025 as the possible date of accession to the EU. The second group (Albania and Macedonia), for which the date of accession negotiations is conditionally open in 2019. The third group includes Bosnia and Herzegovina, Kosovo, for which there are no dates, and Turkey, the negotiations with which are suspended. For comparison, if we take both political and economic indicators of Ukraine, it is approximately equal to the Balkan states of the second group and outstrips the states of the third group. The prospect of EU membership was recognized as the strongest external factor of internal political changes in the countries surrounding the EU. One of the most striking trends is the steady decline in the standards of political governance in all countries, for which the EU expands its membership perspective. One of the main manifestations of poor governance in the broader neighbourhood is the widespread corruption and impunity of officials. Weak rule of law and ineffective law enforcement bodies have become common practice in all different states and have allowed current officials to act impunity during their term of office. The identified results challenge the assumption dominating in political and scientific circles that a credible prospect of EU membership is steadily generating an internal environment conducive to democratic changes. The effectiveness of economic governance was assessed by the indicators of competitiveness of the national economy (Global Competitiveness Index, Corruption Perceptions Index, Human Development Index, Ease of Doing Business Index, Index of Economic Freedom, Index of Globalization, SEDA (Sustainable Economic Development Assessment)); GDP dynamics; the volume of foreign direct investment; economic activity of the population. In practice, the EU applies an increasing number of common economic policy instruments for the Balkans and member countries of the DCFTA, in spite of the political (or rhetorical) differentiation between countries, given the categorization of membership prospects. The convergence of the actual EU policy has taken place. The Association Agreements and the DCFTA have raised the level of political and economic governance in Georgia, Moldova, and Ukraine at the level of the Balkan countries while the expansion process for the Balkan countries has not advanced.

scholarly journals Determining Food Security in Crisis Conditions: A Comparative Analysis of the Western Balkans and the EU

2020 ◽  
Vol 12 (23) ◽  
pp. 9924
Author(s):  
Bojan Matkovski ◽  
Danilo Đokić ◽  
Stanislav Zekić ◽  
Žana Jurjević
Keyword(s):  
Food Security ◽  
Preference Ranking ◽  
Western Balkans ◽  
Eu Countries ◽  
Human Needs ◽  
Significant Difference ◽  
Balkan Countries ◽  
Promethee Method ◽  
Crisis Conditions ◽  
The Eu

The right to food is a fundamental one, and the optimization between human needs and available resources is a challenge in all countries. The main goal of this study is to find the factors that determine food security and to determine the level of food security in the Western Balkans while undergoing the process of European Union (EU) integration. In order to achieve this, four Food and Agricultural Organization (FAO) dimensions of food security are analyzed: stability, availability, access, and utilization. The Preference Ranking Organization Method for Enrichment Evaluations (PROMETHEE) method is then used to rank Western Balkan and EU countries according to food security. The results show a significant difference among these countries in terms of their levels of food security, which is a consequence of Western Balkan countries’ significant lag in economic development in comparison to the EU. Although the level of food security in Western Balkan countries is lower than in EU countries, it is not endangered. However, it can become endangered under crisis conditions (like the COVID-19 pandemic). The main reasons for this discrepancy are high food supply variability, dependence on cereal import, and lower Gross Domestic Product (GDP) per capita in these countries than in EU.

scholarly journals THE EVOLUTION OF THE MARKETING RESEARCH MARKET ON THE LEVEL OF THE EUROPEAN UNION COUNTRIES, AFTER 2000

2013 ◽  
Author(s):  
Laura Catalina Timiras
Keyword(s):  
Economic Development ◽  
Marketing Research ◽  
The European Union ◽  
New Members ◽  
Eu Countries ◽  
New States ◽  
Development Levels ◽  
The Impact ◽  
New Eu Members ◽  
The Eu

The purpose of this paper is to identify how the marketing research market evolved after 2000 as a whole and by categories of the EU countries (the old and the new states respectively) as well as the impact of the general economic development on this evolution of the market. Since 2000 the marketing research market registered a spectacular evolution in the new EU members, which certifies that it is in the growth stage. In the old member states the marketing research market reached maturity, the dynamics being slyghtly positive or even stationary. Regardless of the marketing research market trends registered in the old or in the new EU members, the development levels attained in the two categories of states are different. Thus, approximately 90% of the marketing research market of the EU belongs to the old states and only about 10% to the new members. Similarly to the markets of other products, the market studied here was also affected by the economic crisis, so all the EU countries registered involutions (followed by recoveries) along with the onset of recession. In the countries analyzed, the relationship between the size of the marketing research market and the general economic development expressed by the GDP was a strong and direct one (both in the EU as a whole and by categories of EU countries), higher values of GDP being associated with larger (in terms of value) marketing research markets.

scholarly journals Impact of good governance in the economic development of Western Balkan countries

2015 ◽  
Vol 4 (1) ◽  
pp. 25 ◽  
Author(s):  
Engjell Pere
Keyword(s):  
Economic Development ◽  
Good Governance ◽  
Free Market ◽  
Economic Transformation ◽  
Living Standards ◽  
Quantitative Methodology ◽  
Western Balkans ◽  
Governance Indicators ◽  
Balkan Countries ◽  
The Impact

After the socio-economic transformation and the establishment of the free market institutions, the development and improvement of living standards in post transition economies are deemed to depend more and more on the so called secondary “generating” reforms, at the core of which is the good governance. Drawing from this approach, this article seeks to address the role and the effect of the good governance in the economic development of the Western Balkans countries. More specifically, the article investigates the impact of good governance in the rates of economic growth of GDP. The article adopts a quantitative methodology approach, i.e. an econometric model based on the examination of a panel – data of good governance indicators for Western Balkans countries for the period 1996 – 2012. The analysis concentrates on the following Western Balkan Countries: Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia, Montenegro and Serbia.

scholarly journals THE IMPACT OF TRADE LIBERALIZATION OF BOSNIA AND HERZEGOVINA’S EXPORT TO EUROPEAN UNION

2019 ◽  
Vol 17 (1) ◽  
Author(s):  
Haris Omerika ◽  
Mehmedalija Hadžović
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Trade Liberalization ◽  
Bosnia And Herzegovina ◽  
The European Union ◽  
Western Balkans ◽  
New Paradigm ◽  
Eu Countries ◽  
The Impact ◽  
The Eu

One of the basic and strategic goals of post-war Bosnia and Herzegovina is a full membership in the European Union. During 1992-1995, Bosnia and Herzegovina has passed through one of the most difficult periods in its’ history. The war has completely devastated the economical structure and the aftermaths were visible in the following years. As a new paradigm, the European Union appears. The European Union has helped the Western Balkans countries to overcome national tensions and offered them a new perspective; new regional and european integrations should be a new, historical chance for them. In the light of this, the focus of this paper is the impact of trade liberalization between the European Union and Bosnia and Herzegovina on the export from Bosnia and Herzegovina to European Union. The above mentioned impact has been observed in the period of eleven years. The total export amount of Bosnia and Herzegovina in 2015 was 4,6 billion euros, while the amount of the import was 8,1 billion euros, which makes nearly 60% in favor of import. Traditionally, Bosnia and Herzegovina’s most important foreign trade partner is the European Union where Bosnia and Herzegovina has a deficit in foreign trade. The portion of export to EU during 2015 was 71,79% while the portion of import was 60,85%. The coverage of import over export was 66,89%. In the period of 2005-2015, most of the products have been placed to markets in Croatia, Germany, Italy, and Serbia, which is not the EU member. The process of trade liberalization in 2015 has resulted in surplus of trade with certain EU countries; Austria, Luxembourg and Estonia while the decrease in trade has been recorded with Germany, Slovenia and Czech Republic. Regarding the export, Bosnia and Herzegovina mailny places products which have labour-intensive character. In the econometrics analysis, extented gravitational models of trade have been placed. Besides the abovementioned, the following econometrical techinques have been used: panel data models (PD), fixed effecs models (RE) and panel corrected standard errors (PCSE). In addition, Hausman test has been applied. According to the analysis that has been carried out, the following has been concluded; InGDPi, InGDPj and InDISTij variables are statistically important on the level of 5% in the period of gradual liberalization. The SSP1 an EK variables are not siginificant.In the other moder, in the period of complete liberalization InGDPi, InGDPj and SSP2 variables have a significant impact on a dependent variable on a level of 5%. InDISTij and EK variables have a significant impact on a level od 5% as well. The above mentioned result confirm the research hypothesis; trade liberalization has a significant impact on the export of Bosnia and Herzegovina to the EU. The basic limit of this research can be a relatively short observation period, caused by the fact that the data of merchandise trade between Bosnia and Herzegovina and EU countries until 2005 are not accessible.

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