Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/162201
Authors: 
Alvarez Orviz, Roberto
Savelin, Li
Year of Publication: 
2017
Series/Report no.: 
ECB Occasional Paper 184
Abstract: 
This paper reviews institutional and structural challenges in countries preparing for EU membership, i.e. Albania, Bosnia and Herzegovina, Kosovo*, the former Yugoslav Republic of Macedonia, Montenegro, Serbia and Turkey. Sound institutions and solid economic structures are not only the cornerstones of EU accession (as defined by the Copenhagen political and economic criteria), but are also crucial for achieving higher income levels and sustainable long-term growth. This paper finds that the EU candidate and potential candidate countries (EU CC/PCC) fare worse than the majority of EU Member States in a number of institutional and structural metrics, such as business environment, access to finance, judicial system, trade and competitiveness, labour market and education and institutional governance. When comparing EU CC/PCC among themselves, large intra-group disparities emerge. Countries such as the former Yugoslav Republic of Macedonia, Montenegro and, to a certain extent, Serbia and Turkey, tend to score on average higher than Albania, Bosnia and Herzegovina and Kosovo. While many EU CC/PCC have improved the quality of their institutions and economic governance over the past decade, it is crucial that they preserve the reform momentum to enable a sustainable convergence with the EU.
Subjects: 
institutions
economic growth
EU accession
Western Balkans
businessenvironment
access to finance
trade integration
governance
JEL: 
F13
F15
G21
O11
O43
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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