Regional business development in the Western Balkans: roots and causes of failure Online publication date: Wed, 31-Dec-2014
by Pantelis Sklias
International Journal of Trade and Global Markets (IJTGM), Vol. 5, No. 3/4, 2012
Abstract: The aim of the paper is to extrapolate the patterns and volume of business development within the region of the Western Balkans. The area is a war-torn one with social, cultural, religious and political specificities. Although individual states have demonstrated noticeable institutional and growth developments, nevertheless, regional business links are limited, even non-existent. The state specificities are long standing, thus creating restrictive variations and, effectively, trade distortion conditions. I argue that regional business clusters among different nations, though satisfying specific religious and social characteristics, may be an alternative solution to the issue concerned. Political willingness is the element in demand. Market forces in areas such as the Western Balkans seem to be of secondary importance when assessing regional business cooperation and integration. Accordingly, traditional neo-classical approaches should be enriched to encompass quality variations to capture the complex reality.
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