By Joel I. Deichmann (auth.), Anastasios Karasavvoglou, Persefoni Polychronidou (eds.)
The international is altering swiftly. the worldwide fiscal concern has known as into query the political judgements which have been made via all nations for many years and has ended in a re-formulation of instruments and goals. changes to the hot scenario are invaluable and entail enormous financial and social expenses. The Balkan and Black Sea zone is a vital reference element for the eu and worldwide economic climate. for that reason, the research of the commercial improvement within the sector is of significant curiosity, enticing politicians and scientists alike. less than this framework, the problem of the relation among the area’s international locations and the E.U., the function of the banking approach and the significance of the first region of the economic climate as a big developmental issue for the nations’ economies are of significant importance.
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Additional resources for Balkan and Eastern European Countries in the Midst of the Global Economic Crisis
Similar conclusions are provided for Albania, Croatia, FYROM and Serbia. These countries present negative average slopes hence supporting evidence in favor of no convergence with the EU-15 average. The lack of convergence in these countries could be also explained through the regional disparities. As Petratos (2009) mentioned . a significant part of regional inequalities is due to the inability of the least advanced regions to close the development gap and converge towards the national average.
However, the recent global crisis has had a negative impact on its economy especially in oil industry. Croatia. After the Second World War, Croatia became part of Yugoslavia. Nationalism and conflicts were usual due to the population mixture. In 1992, Croatia won its independence and in the same year became a member of the UN. Since 2009, Croatia has the biggest biogas plant in Europe. Over the period 2000–2007 Croatia showed signals of improvement holding a steady rate of growth. Croatia has participated in international organizations and is going to be a member of the EU on July the 1st 2013.
Empirical analysis. However, Estrin and Urga (1997) found no evidence of convergence between the communist block and the West. The first indications of development at the end of 1990s along with the stability after 2000, only helped towards reducing the disparities among Balkan countries. However, the income gap relative to the EU-15 for a considerable number of Balkan economies remained significant. In this direction, our results argue that EU integration process is one of the main driving forces for reforms aiming at growth and development.
Balkan and Eastern European Countries in the Midst of the Global Economic Crisis by Joel I. Deichmann (auth.), Anastasios Karasavvoglou, Persefoni Polychronidou (eds.)