Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/204259 
Authors: 
Year of Publication: 
2016
Series/Report no.: 
Policy Notes and Reports No. 16
Publisher: 
The Vienna Institute for International Economic Studies (wiiw), Vienna
Abstract: 
The Western Balkans are a region with a substantial economic catch-up potential. Compared to other European economies these countries are either poor or very poor. Structural underdevelopment and low competitiveness impede the catch-up process. Mass unemployment and a huge trade deficit indicate heavy internal and external imbalances. Short-run policy measures should focus on fiscal devaluation and NPL resolution to foster cost competitiveness and private investment. A 'Big Push' in infrastructure investment is imperative for long-term prosperity. An investment volume of EUR 7.7 billion as envisaged in the 'Berlin Process' has the potential for an additional GNP growth impulse of about 1% p.a. and a positive employment effect of up to 200,000 people in the region.
Subjects: 
macroeconomic policy
investment
infrastructure
fiscal devaluation
competitiveness
Western Balkans
Berlin Process
JEL: 
E27
E60
F21
H54
O24
Document Type: 
Research Report

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