Author(s): Hasiba Hrustić
Subject(s): Economy, Education, Supranational / Global Economy, Globalization, Geopolitics
Published by: Матица српска
Keywords: geoeconomic globalization; reform; current account deficits; education; competitiveness;

Summary/Abstract: Serbia takes part in the process of the economic globalization through the process of economic convergence towards Europe. Currently this economic convergence with the EU nations represents the most important aspect of the economic globalization for Serbia. Otherwise, the national states, regardless of their size, can influence the economic globalization, if they have the national strategy for the regionalization, harmonization, and governance of the global processes. Serbia has opportunities to be an important world oil and gas crossroads. For Serbia it is interesting not only what will happen with oil and gas sector in the future, but also what kind of (geo)politics will follow it. Moreover, as a modern transport “backbone”, Corridor 10 might at the same time stimulate the development and connection of the remaining Serbian road and railway infrastructure with the neighborhood, as well as the entire economy as a whole. The reform agenda is comprehensive and neglecting important challenges such as creating institutions will result in deeper crises in the future. Growth will only take place if the society creates the institutions and policies that encourage innovation, investment, and education. The rise in competitiveness of the Serbian economy is becoming increasingly important for at least two reasons – one being the expected EU accession, and the other being the persistent high current account deficits and increased foreign debt jeopardizing macroeconomic stability. Serbia does not have the luxury of postponing this work on longer-term issues.

  • Issue Year: 2010
  • Issue No: 132
  • Page Range: 25-40
  • Page Count: 16
  • Language: Serbian