Impact of Globalization in Kosovo’s Economy

MSc. Nexhat Shkodra, Dr.Sc. Myrvete Badivuku-Pantina, MSc. Naile Kastrati

Abstract


The economy in Kosovo continues to generate macroeconomic growth and solid stability, especially in fiscal and financial terms. Despite the increasing risks from the external sector, Kosovo’s economy has marked positive growth rates in 2012 also. Nevertheless, being an open economy, it has not been spared of the effects of the crisis faced direly by some of the most developed countries, and especially those in the Eurozone, which have shrinked the growth rate in comparison to previous years, despite it being positive.

These risks mainly are reflected into the adverse impacts of the crisis on external demand for Kosovo products (along with an already low export rate), and by a lighter impact on migrant remittances, and a stronger impact on foreign direct investment. The decline in remittances has been smaller than forecasted, mainly because migration in Kosovo is of longer term in nature, and 70% of our migrants possess foreign citizenships. The banking sector has remained solid, with private sector deposits and loans continuing to increase in 2009 and 2010. There is still evidence though, that banks have become more prudent in extending loans, mainly due to the fact that bad loans are increasing at a slow pace. Adverse impacts of the global financial crisis have been compensated by an expansionist fiscal policy adopted by the Government, thereby ensuring medium growth rates.


Keywords


globalization; Kosovar economy; GDP; growth;, global financial crisis;

References


Armstrong D, Lloyd L, Redmond J, (2009), “Organizatat Ndërkombëtare në Politikën Botërore”, AIIS, Tiranë.

Badivuku-Pantina M, ( Universiteti i Prishtinës, Fakulteti Ekonomik, Struktura e Shpenzimeve Buxhetore ne Kosovë,

Banka Botërore, (2012), “Raporti i Bankës Botërore 2012”, Nt. 66877-XK.

Banka Botërore , (2010), “Raporti i Bankës Botërore për Kosovën”, Nr. 53185-XK.

Banka Botërore, “Kosova, “zhbllokimi i potencialit për rritje ekonomike: strategjike, politike, veprimtarit”

Banka Qendrore e Kosovës (2012), “Raporti i Stabilitetit Financiar, 2012”, Prishtinë.

Banka Qendrore e Kosovës (2012), “Raporti i Bilancit të Pagesave,Nr. 11”, Prishtinë.

Berisha S, (2002), “Ekonomia Ndërkombëtare”, Prishtinë.

Civici A (2009), “Globalizimi...ante portes”, Tiranë.

Fondi Monetar Ndwrkombëtar, (2012), “Raporti no.345” Washington, D.C.

Fondi Monetar Ndwrkombëtar, (2008), “Raporti i vitit 2008”, Prishtinë

Gilpin R, (2001), “Global Political Economy- Understanding the International Economic Order” Princton University Press, New Jersey.

Kristo I, (2004), “Biznesi Ndërkombëtar”, Tiranë.

Ministria e Financave, (2011), “Korniza Afatmesme e Shpenzimeve 2014-2016”, Prishtinë

Ministria e Financave, (2012), “Buletini Makroekonomik, 2012”, Prishtinë

Ministria e Tregtisw dhe Indistrisë, (2009), “Politika Tregtare e Kosovës, 2009”, e disponueshme nga www.mti-ks.org [lexuar më 20.12.2012] .

Selmanaj S, (2006), “Globalizimi dhe Tranzicioni”, Prishtinë.


Full Text: PDF

DOI: 10.21113/iir.v3i2.120

Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM

Refbacks

  • There are currently no refbacks.




Copyright (c) 2016 MSc. Nexhat Shkodra, Dr.Sc. Myrvete Badivuku-Pantina, MSc. Naile Kastrati

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.
x
Message