Employment and activity rates in the new EU Member States (NMS) declined significantly up to the early 2000s and started to increase along with strong GDP growth thereafter. Job losses following the outbreak of the economic and financial crisis varied substantially across countries and have not...

International migration from Croatia has a long tradition and has been diverse and complex. The labour migration initiated in the 1960s still has a lasting effect on subsequent migration flows, particularly with regard to destination countries. Despite transitional arrangements in place in the...

The study focuses on cross-border mobility in the Western Balkans, which has been identified in the SEE 2020 Strategy as contributing positively to generating employment, reducing the skills mismatch and increasing the productivity of the countries of the region. So far labour market...

The process of European Union (EU) integration proceeds from economic to political integration. The economic integration itself proceeds from trade to financial to complete market integration. The sustainability of the process depends on some causal relation existing between economic and...

Croatia's external debt has been growing steadily since the exchange rate stabilization in 1994. It reached almost 85% of GDP at the end of 2003. The level and the trend raise questions of sustainability and thus of an appropriate policy response. The current trend of debt accumulation is not...

Stability and normalization should be the crucial ingredients of Kosovo's future status. If achieved, it would lead to strong economic recovery in Kosovo and to more sustainable economic growth in Serbia. Chances for positive economic development, strong recovery and sustained long-term growth...

This paper assesses the possible political and economic risks of Macedonia failing to be invited to join NATO in the near future due to a Greek embargo. Three possible outcomes of the current negotiations are discussed and some narrowing down of differences is noted. It may, however, not be...

Fiscal constraint is potentially lax in catching-up economies, but it has not been abused by most countries considered in this paper. Fiscal risks are significant currently, but sustainability and structural balances are not threatened as a rule, if the return to potential growth rates is to be...

Policy frameworks of the IMF, the World Bank, and the EU are discussed in order to come up with criteria of macroeconomic and financial stability and sustainability for Future Member States of the EU (candidate and potential candidate countries). The key deficiency of the EU policy framework is...

The Macedonian economy has weathered the post-2008 crisis better than most countries in the Balkans. Investments and exports have sustained growth and the performance of the labour market has somewhat improved. With exports to GDP at around 50%, the small, landlocked economy remains relatively...