The World Economic Crisis Impact On Serbia In The Context Of Its Association With The European Union Cover Image

Uticaj svetske ekonomske krize na Srbiju u kontekstu njenog priključivanja Evropskoj Uniji
The World Economic Crisis Impact On Serbia In The Context Of Its Association With The European Union

Author(s): Milan Stamatović, Savo Radonjić, Ana D. Anufrijev
Subject(s): Economy
Published by: Универзитет у Нишу
Keywords: Global economic crisis; competitiveness; European Union; Western Balkans; free trade zone; trade policy

Summary/Abstract: The most common causes of crisis are usually big credit expansions. The current global economic crisis, which, without exaggeration can be construed as crises of the West, was created in the center of the world's financial system and in this sense is special compared to the previous one which marked the twentieth century on one hand, and similar to that of 1929 on the other. The share of the US, EU and Asia in the global financial sector losses 57% and respectively 39% and 4%. Serbia was a marginal player on the world stage and the big blow was referred to the crisis. The general conclusion is not at all optimistic because indicators will move the business climate in Serbia and in the future there will be an almost identical trend in the EU, so that the changes in Serbia for the most part depend on the momentum that will be coming to EU markets. Finally, the transition in the Western Balkans is at the same time both an economic and a political process. All economies of the Western Balkans (Serbia, Montenegro, Croatia, Bosnia and Herzegovina, FYR Macedonia and Albania) reported negative effects on macroeconomic indicators as a consequence of the economic crisis, but they are on the way to EU membership, even though each of these countries varies in degrees of accession. Due to many problems that Sebia is facing, due to the aforementioned problems in the economic arena, but also because of the numerous political problems, which can not be ignored, Serbia will soon be able to become part of the big European family. In a situation where it is more than necessary to absorb the effects of the global economic crisis, it is of crucial importance for Serbia to approach the EU carefully, fulfilling criteria for joining. Specifically, the effects of a possible "Quick admission" would have multiple negative economic consequences and in this case would be more than just the desire for connection.

  • Issue Year: 2010
  • Issue No: 1
  • Page Range: 1-15
  • Page Count: 15
  • Language: English