Can Transition Countries on the Western Balkan Utilise the Momentum of SMEs to Facilitate Economic Growth?

Can Transition Countries on the Western Balkan Utilise the Momentum of SMEs to Facilitate Economic Growth?

Author: Karl Luis Neumann

Publisher:

Published: 2018-05-26

Total Pages: 40

ISBN-13: 9783668714519

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Seminar paper from the year 2018 in the subject Business economics - Economic Policy, grade: 1,7, Berlin School of Economics, language: English, abstract: Small and medium sized enterprises (SME) represent 99,8% of all businesses in the European Union (EU), provide two-thirds of the non-financial sector employment and account for 85% of the new jobs created in the past five years. Looking at the other side of the Atlantic, the situation is not very different: in the United Stated of America (USA) SMEs account for 99,7% of all firms and 48% of total private-sector employment. It is fair to say that SMEs are the backbone of the two largest economic areas of the world. Considering the enormous share that SMEs have in these economies, it becomes clear that the success of an economy largely depends on the development of its SMEs. This paper aims at examining the impact of SMEs on the development of economies in transition. Specifically, the transition countries of the Western Balkan (Albania, Bosnia and Herzegovina, Montenegro, Serbia and The Former Yugoslav Republic of Macedonia (FYRM)) will be subject of this paper. Due to the limited word count, Serbia will be used as example since it is the largest economy in the region. The question to be answered is: "Can transition countries on the Western Balkan utilise the economic momentum of SMEs to facilitate economic growth? Evidence from Serbia."


Book Synopsis Can Transition Countries on the Western Balkan Utilise the Momentum of SMEs to Facilitate Economic Growth? by : Karl Luis Neumann

Download or read book Can Transition Countries on the Western Balkan Utilise the Momentum of SMEs to Facilitate Economic Growth? written by Karl Luis Neumann and published by . This book was released on 2018-05-26 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2018 in the subject Business economics - Economic Policy, grade: 1,7, Berlin School of Economics, language: English, abstract: Small and medium sized enterprises (SME) represent 99,8% of all businesses in the European Union (EU), provide two-thirds of the non-financial sector employment and account for 85% of the new jobs created in the past five years. Looking at the other side of the Atlantic, the situation is not very different: in the United Stated of America (USA) SMEs account for 99,7% of all firms and 48% of total private-sector employment. It is fair to say that SMEs are the backbone of the two largest economic areas of the world. Considering the enormous share that SMEs have in these economies, it becomes clear that the success of an economy largely depends on the development of its SMEs. This paper aims at examining the impact of SMEs on the development of economies in transition. Specifically, the transition countries of the Western Balkan (Albania, Bosnia and Herzegovina, Montenegro, Serbia and The Former Yugoslav Republic of Macedonia (FYRM)) will be subject of this paper. Due to the limited word count, Serbia will be used as example since it is the largest economy in the region. The question to be answered is: "Can transition countries on the Western Balkan utilise the economic momentum of SMEs to facilitate economic growth? Evidence from Serbia."

SME Policy Index for the Western Balkans and Turkey 2016

SME Policy Index for the Western Balkans and Turkey 2016

Author:

Publisher:

Published: 2016

Total Pages: 361

ISBN-13: 9789279550805

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The development of a dynamic and vibrant SME sector is of paramount importance for the seven EU pre-accession economies: Albania, Bosnia and Herzegovina, Kosovo, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia, and Turkey. The region's productive structure is predominately composed of small and medium-sized enterprises (SMEs), which on average contribute to 75% of total employment and over 60% of total private-sector value added. Nevertheless, important challenges remain to transform the SME sector into a driver of economic growth and employment and to address persistent structural challenges such as high unemployment rates and the per capita income gap. However some of the conditions to leverage growth are already in place. First, the economies of the Western Balkans and Turkey (WBT) are covered by the current EU enlargement agenda. The EU's enlargement policy deals with the countries currently aspiring to become members of the European Union.^The EU's enlargement policy is an investment in peace, security and stability in Europe. It provides increased economic and trade opportunities to the mutual benefit of the EU and the aspiring member states. Second, SMEs in the Western Balkans and Turkey face a unique set of opportunities for business expansion. The region has made considerable progress on economic integration with the European Union, whose single market is the largest in the world, serving 500 million citizens and generating 23% of world GDP. The implementation of the Central European Free- Trade Area (CEFTA), a regional free-trade agreement comprising all the Western Balkan economies and the Republic of Moldova, and a network of free trade agreements between Turkey and the Western Balkans, have further expanded market access.^Third, the Western Balkans are advancing their transition to a market-based economic system, in particular with regard to liberalising and opening up their economies, while Turkey's economic reforms have contributed to deregulating and expanding its internal market. SME policy simultaneously targets changes in the economic structure and improvements in the business climate in general and enterprise growth potential in particular. The SME Policy Index assesses progress in implementing the ten principles of the Small Business Act for Europe (SBA) and compares the evolution in policy and remaining challenges across the region while providing guidelines for reform for each economy. This SME Policy Index, the fourth since 2007, sheds light on SME policy development over the past decade.


Book Synopsis SME Policy Index for the Western Balkans and Turkey 2016 by :

Download or read book SME Policy Index for the Western Balkans and Turkey 2016 written by and published by . This book was released on 2016 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of a dynamic and vibrant SME sector is of paramount importance for the seven EU pre-accession economies: Albania, Bosnia and Herzegovina, Kosovo, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia, and Turkey. The region's productive structure is predominately composed of small and medium-sized enterprises (SMEs), which on average contribute to 75% of total employment and over 60% of total private-sector value added. Nevertheless, important challenges remain to transform the SME sector into a driver of economic growth and employment and to address persistent structural challenges such as high unemployment rates and the per capita income gap. However some of the conditions to leverage growth are already in place. First, the economies of the Western Balkans and Turkey (WBT) are covered by the current EU enlargement agenda. The EU's enlargement policy deals with the countries currently aspiring to become members of the European Union.^The EU's enlargement policy is an investment in peace, security and stability in Europe. It provides increased economic and trade opportunities to the mutual benefit of the EU and the aspiring member states. Second, SMEs in the Western Balkans and Turkey face a unique set of opportunities for business expansion. The region has made considerable progress on economic integration with the European Union, whose single market is the largest in the world, serving 500 million citizens and generating 23% of world GDP. The implementation of the Central European Free- Trade Area (CEFTA), a regional free-trade agreement comprising all the Western Balkan economies and the Republic of Moldova, and a network of free trade agreements between Turkey and the Western Balkans, have further expanded market access.^Third, the Western Balkans are advancing their transition to a market-based economic system, in particular with regard to liberalising and opening up their economies, while Turkey's economic reforms have contributed to deregulating and expanding its internal market. SME policy simultaneously targets changes in the economic structure and improvements in the business climate in general and enterprise growth potential in particular. The SME Policy Index assesses progress in implementing the ten principles of the Small Business Act for Europe (SBA) and compares the evolution in policy and remaining challenges across the region while providing guidelines for reform for each economy. This SME Policy Index, the fourth since 2007, sheds light on SME policy development over the past decade.

SME Policy Index: Western Balkans and Turkey 2019 Assessing the Implementation of the Small Business Act for Europe

SME Policy Index: Western Balkans and Turkey 2019 Assessing the Implementation of the Small Business Act for Europe

Author: OECD

Publisher: OECD Publishing

Published: 2019-05-06

Total Pages: 977

ISBN-13: 9264312951

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Robust SME sectors are critical to the prosperity of the six Western Balkan economies and Turkey, accounting for over 70% of those employed in the business sector and generating 65% of value added in these seven economies. Yet their potential remains untapped, as SMEs across the region grapple ...


Book Synopsis SME Policy Index: Western Balkans and Turkey 2019 Assessing the Implementation of the Small Business Act for Europe by : OECD

Download or read book SME Policy Index: Western Balkans and Turkey 2019 Assessing the Implementation of the Small Business Act for Europe written by OECD and published by OECD Publishing. This book was released on 2019-05-06 with total page 977 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robust SME sectors are critical to the prosperity of the six Western Balkan economies and Turkey, accounting for over 70% of those employed in the business sector and generating 65% of value added in these seven economies. Yet their potential remains untapped, as SMEs across the region grapple ...

Western Balkan Economies in Transition

Western Balkan Economies in Transition

Author: Reiner Osbild

Publisher: Springer

Published: 2019-09-14

Total Pages: 184

ISBN-13: 9783030067021

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Book Synopsis Western Balkan Economies in Transition by : Reiner Osbild

Download or read book Western Balkan Economies in Transition written by Reiner Osbild and published by Springer. This book was released on 2019-09-14 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economic Development and Entrepreneurship in Transition Economies

Economic Development and Entrepreneurship in Transition Economies

Author: Jovo Ateljević

Publisher: Springer

Published: 2016-04-05

Total Pages: 304

ISBN-13: 3319288563

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This book contributes to a better understanding of entrepreneurship in transition economies. Current literature reflects the more traditional schools of thought on entrepreneurship, which are influenced by the Western perspective, and fail to fully address the scenario in transition economies. There is a broad consensus among academics, policy makers, and practitioners that a fundamental cause of difficulties experienced by most economies in transition has been the fact that reform has not been accompanied by the creation of new, private businesses, and particularly SMEs. This is especially evident in states created in Europe after the dissolution of the Soviet Union where many barriers, which were inherited from the old system, remain in place, thus inhibiting entrepreneurial progress in these countries despite a favorable political and economic environment. The contributions featured in this book focus on how much progress has been achieved so far with regard to these aspects, as well as identify which current barriers and issues still need to be resolved. Themes include innovation performance, financing, venture capital, educational factors, and entrepreneurial learning.


Book Synopsis Economic Development and Entrepreneurship in Transition Economies by : Jovo Ateljević

Download or read book Economic Development and Entrepreneurship in Transition Economies written by Jovo Ateljević and published by Springer. This book was released on 2016-04-05 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contributes to a better understanding of entrepreneurship in transition economies. Current literature reflects the more traditional schools of thought on entrepreneurship, which are influenced by the Western perspective, and fail to fully address the scenario in transition economies. There is a broad consensus among academics, policy makers, and practitioners that a fundamental cause of difficulties experienced by most economies in transition has been the fact that reform has not been accompanied by the creation of new, private businesses, and particularly SMEs. This is especially evident in states created in Europe after the dissolution of the Soviet Union where many barriers, which were inherited from the old system, remain in place, thus inhibiting entrepreneurial progress in these countries despite a favorable political and economic environment. The contributions featured in this book focus on how much progress has been achieved so far with regard to these aspects, as well as identify which current barriers and issues still need to be resolved. Themes include innovation performance, financing, venture capital, educational factors, and entrepreneurial learning.

SME Policy Index : Western Balkans and Turkey 2019

SME Policy Index : Western Balkans and Turkey 2019

Author:

Publisher:

Published:

Total Pages: 0

ISBN-13: 9789264182769

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Robust SME sectors are critical to the prosperity of the six Western Balkan economies and Turkey, accounting for over 70% of those employed in the business sector and generating 65% of value added in these seven economies. Yet their potential remains untapped, as SMEs across the region grapple with numerous challenges that hamper their growth and productivity. They are still under-represented in international trade, and their contributions to value-added remain comparatively low as they have difficulties in moving or expanding into high value-added activities. This report provides a comprehensive overview of the implementation of the ten principles of the Small Business Act for Europe (SBA) in the seven EU pre-accession economies over the period 2016-18. It monitors progress against similar assessments performed over the past decade and identifies the outstanding challenges affecting SMEs. It also provides targeted recommendations to remove barriers to SME development and unleashing their potential for driving inclusive economic growth.


Book Synopsis SME Policy Index : Western Balkans and Turkey 2019 by :

Download or read book SME Policy Index : Western Balkans and Turkey 2019 written by and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robust SME sectors are critical to the prosperity of the six Western Balkan economies and Turkey, accounting for over 70% of those employed in the business sector and generating 65% of value added in these seven economies. Yet their potential remains untapped, as SMEs across the region grapple with numerous challenges that hamper their growth and productivity. They are still under-represented in international trade, and their contributions to value-added remain comparatively low as they have difficulties in moving or expanding into high value-added activities. This report provides a comprehensive overview of the implementation of the ten principles of the Small Business Act for Europe (SBA) in the seven EU pre-accession economies over the period 2016-18. It monitors progress against similar assessments performed over the past decade and identifies the outstanding challenges affecting SMEs. It also provides targeted recommendations to remove barriers to SME development and unleashing their potential for driving inclusive economic growth.

The Western Balkans in Transition

The Western Balkans in Transition

Author: European Commission. Directorate-General for Economic and Financial Affairs

Publisher:

Published: 2009

Total Pages: 100

ISBN-13:

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The main purpose of this publication is to give an overview of recent macroeconomic and structural developments in the countries of the Western Balkan region. The first two chapters of the issue include contributions on topics that represent a common challenge for all the economies, while the third one features a brief country-by-country economic assessment. This Paper intends also to facilitate the work of scholars, researchers and analysts of the enlargement process, which are mainly interested in the economic aspects.


Book Synopsis The Western Balkans in Transition by : European Commission. Directorate-General for Economic and Financial Affairs

Download or read book The Western Balkans in Transition written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2009 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main purpose of this publication is to give an overview of recent macroeconomic and structural developments in the countries of the Western Balkan region. The first two chapters of the issue include contributions on topics that represent a common challenge for all the economies, while the third one features a brief country-by-country economic assessment. This Paper intends also to facilitate the work of scholars, researchers and analysts of the enlargement process, which are mainly interested in the economic aspects.

Lifting Growth in the Western Balkans

Lifting Growth in the Western Balkans

Author: Mr.Nadeem Ilahi

Publisher: International Monetary Fund

Published: 2019-11-12

Total Pages: 75

ISBN-13: 1513519166

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In the past 25 years, exports have contributed strongly to growth and economic convergence in many small open economies. However, the Western Balkan (WB) region, consisting of small emerging market economies, has not fully availed itself of this driver of growth and convergence. A lack of openness, reliance on low value products, and weak competitiveness largely explain the insignificant role of trade and exports in the region’s economic performance. This paper focuses on how the countries in the WB could lift exports through stronger integration with global value chains (GVCs) and broadening of services exports. The experience of countries that joined the European Union in or after 2004 shows that participation in GVCs can help small economies accelerate export and income growth. WB countries are not well integrated into Europe’s vibrant GVCs. Trade within the region is also limited—it tends to be bilateral and not cluster-like. Our analysis shows that by improving infrastructure and labor skills and adopting trade policies that ensure investor protection and harmonize regulations and legal provisions, the region can greatly enhance its engagement with GVCs. Services exports are an increasingly important part of global trade, and they offer an untapped source of growth. The magnitude of services exports from the WB region compares favorably with that of peers in Europe, particularly in travel services where several of these countries have a revealed comparative advantage. But there is significant room for growth in tourism exports and an untapped potential in business and information technology services exports that these countries can materialize through policy efforts that increase openness and enhance connectivity and labor skills. Serbia offers a good example of how decisive efforts, including education policies to ensure a sustained supply of skilled labor, can help information technology services exports to take off.


Book Synopsis Lifting Growth in the Western Balkans by : Mr.Nadeem Ilahi

Download or read book Lifting Growth in the Western Balkans written by Mr.Nadeem Ilahi and published by International Monetary Fund. This book was released on 2019-11-12 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past 25 years, exports have contributed strongly to growth and economic convergence in many small open economies. However, the Western Balkan (WB) region, consisting of small emerging market economies, has not fully availed itself of this driver of growth and convergence. A lack of openness, reliance on low value products, and weak competitiveness largely explain the insignificant role of trade and exports in the region’s economic performance. This paper focuses on how the countries in the WB could lift exports through stronger integration with global value chains (GVCs) and broadening of services exports. The experience of countries that joined the European Union in or after 2004 shows that participation in GVCs can help small economies accelerate export and income growth. WB countries are not well integrated into Europe’s vibrant GVCs. Trade within the region is also limited—it tends to be bilateral and not cluster-like. Our analysis shows that by improving infrastructure and labor skills and adopting trade policies that ensure investor protection and harmonize regulations and legal provisions, the region can greatly enhance its engagement with GVCs. Services exports are an increasingly important part of global trade, and they offer an untapped source of growth. The magnitude of services exports from the WB region compares favorably with that of peers in Europe, particularly in travel services where several of these countries have a revealed comparative advantage. But there is significant room for growth in tourism exports and an untapped potential in business and information technology services exports that these countries can materialize through policy efforts that increase openness and enhance connectivity and labor skills. Serbia offers a good example of how decisive efforts, including education policies to ensure a sustained supply of skilled labor, can help information technology services exports to take off.

SME Policy Index

SME Policy Index

Author:

Publisher:

Published: 2012

Total Pages: 291

ISBN-13: 9789279260766

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Small and medium-sized enterprises (SMEs) are an important driver for job creation and economic growth in the Western Balkans and Turkey. However, the global financial crisis and the subsequent sovereign debt crisis in the euro zone has hit SMEs in the region hard, restricting bank lending, eroding consumer demand, foreign direct investment, remittances and international capital inflows. To support SME development and stimulate growth, governments from Albania, Bosnia and Herzegovina, Croatia, Kosovo, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia and Turkey are undertaking extensive reforms to enhance productivity, human capital and company-level performance. This report gives policymakers a framework to assess national SME policies. The report helps identify strengths and weaknesses in policy design and implementation, compare experiences and performance, set priorities and measure convergence towards implementation of the policy principles promoted by the small business act for Europe. It also benchmarks the region's progress against a similar assessments carried out in 2006 and 2009 and, for the first time, includes Turkey.


Book Synopsis SME Policy Index by :

Download or read book SME Policy Index written by and published by . This book was released on 2012 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Small and medium-sized enterprises (SMEs) are an important driver for job creation and economic growth in the Western Balkans and Turkey. However, the global financial crisis and the subsequent sovereign debt crisis in the euro zone has hit SMEs in the region hard, restricting bank lending, eroding consumer demand, foreign direct investment, remittances and international capital inflows. To support SME development and stimulate growth, governments from Albania, Bosnia and Herzegovina, Croatia, Kosovo, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia and Turkey are undertaking extensive reforms to enhance productivity, human capital and company-level performance. This report gives policymakers a framework to assess national SME policies. The report helps identify strengths and weaknesses in policy design and implementation, compare experiences and performance, set priorities and measure convergence towards implementation of the policy principles promoted by the small business act for Europe. It also benchmarks the region's progress against a similar assessments carried out in 2006 and 2009 and, for the first time, includes Turkey.

Industrial Policies for Technological Upgrading in Western Balkan Countries

Industrial Policies for Technological Upgrading in Western Balkan Countries

Author: Fadil Sahiti

Publisher: Springer Nature

Published:

Total Pages: 211

ISBN-13: 3031514297

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Book Synopsis Industrial Policies for Technological Upgrading in Western Balkan Countries by : Fadil Sahiti

Download or read book Industrial Policies for Technological Upgrading in Western Balkan Countries written by Fadil Sahiti and published by Springer Nature. This book was released on with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: