TY  - BOOK
AU  - Holzner,Mario
TI  - Policy Options for Competitiveness and Economic Development in the Western Balkans: the Case for Infrastructure Investment
T2  - wiiw Policy Notes and Reports
PY  - 2016///
CY  - Wien
PB  - Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw)
KW  - macroeconomic policy
KW  - investment
KW  - infrastructure
KW  - fiscal devaluation
KW  - competitiveness
KW  - Western Balkans
KW  - Berlin Process
KW  - Albania
KW  - Bosnia and Herzegovina
KW  - Kosovo
KW  - North Macedonia
KW  - Montenegro
KW  - Serbia
N2  - Summary


	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.


UR  - https://wiiw.ac.at/p-3916.html
ER  -