Impacts of Global Recession in Western Balkan Countries a Comparison with the EU New Member States

Matthieu Llorca () and Srdjan Redzepagic ()
Additional contact information
Srdjan Redzepagic: Institute of Economic Sciences, Belgrade

Chapter 2 in Financial Systems Integration of Balkan Countries in the European Financial System: Impact of Global Crisis, 2009, vol. 1, pp 9-16 from Institute of Economic Sciences

Abstract: The current global crisis is systemic by being propagated in a banking, financial and economic crisis. It represents a negative external demand shock for Western Balkan Countries (WBC) with an impact on the banking and financial sector first (dice the third 2008 quarter) and then, since the first 2009 quarter on the real economy. The comparison with the crisis impacts for the EU New Member States reveals clearly that WBC were affected one quarter later due to specifics factors such as a less financial and trade integration with developed countries or a large informal sector. Finally, concerns about the financing of external deficits (trade and current account deficit) are arising due to the decline of remittances and Foreign Direct Investment inflows.

Keywords: Global economic and financial crisis; channels transmission; policy responses; Western Balkan countries; EU new member states (search for similar items in EconPapers)
Date: 2009
ISBN: 978-2-7466-1290-7
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ien.bg.ac.rs/images/stories/download/financialsystem_ch2.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.ien.bg.ac.rs/images/stories/download/financialsystem_ch2.pdf [301 Moved Permanently]--> http://ien.bg.ac.rs/images/stories/download/financialsystem_ch2.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibg:chaptr:finsys-2

Access Statistics for this chapter

More chapters in Book Chapters from Institute of Economic Sciences 12 Zmaj Jovina St, 11000 Belgrade, Serbia. Contact information at EDIRC.
Bibliographic data for series maintained by Zorica Bozic ().