Convergența economică și instituțională a Balcanilor de Vest către Uniunea Europeană
Economic and institutional convergence of western balkans on European Union

Summary/Abstract: This article analyses the economic convergence of GDP per capita of the Western Balkan countries (BO) towards the European Union (EU). The concept of economic convergence implies that a country is progressing along the path of integration, having established sound institutions and adopted effective macroeconomic and fiscal policies to support this process and facilitate business activities. The results of the analyses show that the BO countries, if they have an average growth of GDP per capita as in the period 2015-2020, will need between 65-90 years to reach the average GDP per capita of the EU. The regression results show that in Serbia good governance is negatively and significantly related to GDP growth. At the same time, the results show that in Kosovo and Montenegro, good governance is positively, but not significantly, correlated with GDP growth. However, for countries such as Albania, North Macedonia and Bosnia, good governance has no significant impact on GDP growth.

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