Critical Connections: Promoting Economic Growth and Resilience in Europe and Central Asia

Gould, David M.

doi:10.1596/978-1-4648-1157-9

Cited by 13 publications

(18 citation statements)

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“…• Europe and Central Asia. Despite recent moves toward greater infrastructure links, countries in Central Asia remain poorly connected to the rest of the region and the rest of the world, as reflected in elevated cost and time of transport (Gould 2018). Limited resources to rehabilitate, operate and maintain existing infrastructure in the region present a challenge to providing reliable infrastructure services.…”

Section: B Regional Estimates Of Investment Needsmentioning

confidence: 99%

Understanding the Cost of Achieving the Sustainable Development Goals

Vorisek¹,

Yu²

2020

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Section: B Regional Estimates Of Investment Needsmentioning

confidence: 99%

Understanding the Cost of Achieving the Sustainable Development Goals

Vorisek¹,

Yu²

2020

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“…This nonbinding agreement created a framework of cooperation and exchange of information to strengthen banking regulation and supervision in the region. The commitment of Western Balkan countries to advance their reform will help to achieve balanced connectivity (Gould, 2018). The Western Balkan countries have agreed to provide the European Banking Authority with regular updates on banking developments and to bring their own standards and supervisory rules in line with those of the EU.…”

Section: Financial System and Banking Sustainabilitymentioning

confidence: 99%

“…Growth of GDP through 2015-2018 Calculations are based on data extracted fromEurostat updated on March 2019 and World Bank Report http://data.worldbank.org/indicator/. …”

mentioning

confidence: 99%

Financial Integration, Banking Supervision and Sustainability of the Western Balkan Countries

Sh¹,

Asllani²,

Luboteni³

et al. 2020

IJEBA

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Purpose: This paper examines the need of financial integration of Western Balkan countries as the main indicator of the region's economic growth. Design/Methodology/Approach: We provide an overview in order to explain what the financial system in the region is. Primarily we concentrate in the banking sector and the nonperforming loans in the region. They require attention and standardization of regulatory classification. By establishing a regional platform it would be of additional value and would help overcome the limited visibility in some of the countries. Findings: Currently the challenges for financial stability in the Western Balkan area comprise non-performing loans, low capital adequacy and moderate growth of credit in the economy. The banking sector is reducing the debt due to required financial stability measures of the European banking authorities. As these countries integrate their financial institutions and markets into the European financial system, on the path towards harmonization of national and European legislation, cooperation between financial entities in the Western Balkans becomes very important. The Western Balkan countries are in a different stage of development of banking sustainability and supervision and because of that there is a need for more integration with the European Banks and the respective regulators to ensure an adequate banking regime. Practical Implications: The article highlights the fact that Western Balkan countries need to intensify their reforms to build banking sustainability in order to meet the criteria for EU membership. Originality/Value: With this article we show that the Western Balkan countries in their integration processes must first align their local and European legislation and requirements.

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“…The 2017 Western Balkans Multi-Annual Action Plan to develop a Regional Economic Area (MAP-REA) provides a roadmap for expanding connectivity in trade, investment, labor mobility, and the digital economy, and aligning regulation in preparation for eventual EU accession. A firm commitment to advance such reforms will help Western Balkan countries achieve balanced connectivity (Gould 2018 In recent years, Western Balkan countries have started to align their competition policy to EU standards but the implementation of these policies is lagging. Restrictive regulation of services still hinder competition in, e.g., energy and telecommunications, and in professional services (e.g., lawyers, accountants, engineers).…”

Section: How Can Western Balkan Countries Become Better Connected?mentioning

Critical Connections: Promoting Economic Growth and Resilience in Europe and Central Asia

Cited by 13 publications

References 0 publications

Understanding the Cost of Achieving the Sustainable Development Goals

Understanding the Cost of Achieving the Sustainable Development Goals

Financial Integration, Banking Supervision and Sustainability of the Western Balkan Countries

Western Balkans Regular Economic Report No. 15, Spring 2019

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