The underying idea behand the foundation of the European Union is a single, integrated and competitive market. The future of the entire Western Balkans region (Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia) lies within the European Union. The main purpose of...

The ability of the national economy to create and to valorize innovations on the market in order to produce economic goods represents its national innovation capacity, which is at the same time a key determinant of countries' economic progress. Due to this fact, its relevance imposes the task of...

The issue of security and safety i s a fundamental condition for stable economic trends. Military expenditure can be a very powerful tool for a rapid economic growth. The paper examines the long-run relationship between military expenditure and economic growth in the selected Balkan countries,...

The need for a modern agricultural development conditioned the concept of multifunctionality of agriculture. Multifunctionality of agriculture is often considered as a useful tool for achieving economic and sustainable development goals. It is increasingly gaining importance in the field of...

In order to improve the competitive position and ensure continuous and sustainable economic growth in the international market, Western Balkan countries have recognized export sectors and branches as success generators. However, the low accumulation of economies in the region and insufficient...

This paper analyses trends in three key aspects of economic globalization: international trade, foreign investment and global product chains. The paper points to downward tendencies of the world economic integration in all three segments. The paper finds that causes of these trends are not...

The degree of increased indebtedness in the Western Balkan countries is generated by increasing consumption in terms of increased economic growth and structural reforms. Although these countries have shown an increase in exports and foreign direct investment over the past few years, the current...

The study examines how the strength of the application of audit and accounting standards, as a component of the institutional infrastructure, affects the greenfield FDI in the four countries of the former Socialist Federal Republic of Yugoslavia over a twelve-year period (2006-2017). Using...

Globalization is a process often identified with the economic integration of countries, the creation of a single market while neglecting other aspects of globalization. Besides its economic dimension, The KOF index of globalization includes the social and political dimensions. One of the...

One of the most commonly used measures of insurance market development is insurance penetration rate, as ratio of gross written premiums to the country's gross domestic product (GDP). Its important shortcoming is that it neglects the level of economic development of the country. The S-curve is a...