Digital transformation and economic cooperation: The case of Western Balkan countries

Tanja Broz, Goran Buturac () and Miloš Parežanin ()
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Goran Buturac: The Institute of Economics, Zagreb, Trg J. F. Kennedyja 7, 10 000 Zagreb, Croatia
Miloš Parežanin: University of Belgrade, Faculty of Organizational Sciences, Jove Iliæa 154, Belgrade, Serbia

Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, 2020, vol. 38, issue 2, 697-722

Abstract: Digital transformation is increasingly affecting many aspects of the world economy. It is boosting economic growth, has an impact on foreign direct investments and increases international trade. Hence, the aim of the paper is to analyse digital transformation in relation with the economic cooperation between Western Balkan economies. In order to do so, we construct two indicators: the harmonised index of economic cooperation among Western Balkan economies and the indicator of digital transformation convergence. The results indicate a rising trend of economic cooperation amongst Western Balkan countries, with cooperation dominated by foreign trade. Even though Western Balkan countries have experienced an increased digital transformation convergence, they are still lagging behind the EU in the use of digital technologies. Hence, placing more emphasis on digital transformation could potentially boost the region’s GDP and thus economic cooperation among them.

Keywords: digital transformation; regional economic cooperation; Western Balkan countries (search for similar items in EconPapers)
JEL-codes: F15 F21 O33 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:rfe:zbefri:v:38:y:2020:i:2:p:697-722

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