Assessing Government Involvement in the Balkan Countries’ Economies
Presiana Nenkova – University of National and World Economy, Department of Finance, Sofia, 8th December str., 1700, Bulgaria
Velichka Nikolova – University of National and World Economy, Department of Economics, Sofia, 8th December str., 1700, Bulgaria
Angel Angelov – University of National and World Economy, Department of Finance, Sofia, 8th December str., 1700, Bulgaria
7th International Scientific ERAZ Conference – ERAZ 2021 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, Online/virtual, May 27, 2021
ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
ERAZ conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; AMBIS University, Prague – Czech Republic; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia
ERAZ Conference 2021 Conference Proceedings: ISBN 978-86-80194-46-2, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.2021
Abstract: The extent to which the government intervene the marketplace and the government’s role in the economy is an important factor, determining the economic results achieved by a country. In the academic literature, the question of whether the promotion of this participation contributes to an improvement of the development of a nation or, on the contrary, can contribute to a loss of competitive advantages, is debatable. This study focuses on the degree of involvement of national governments in the economies of the Balkan region countries. For the purpose of analysis, a cluster analysis is applied, through which the Balkan countries are divided into several groups (clusters), characterized by different degrees of government participation. Three periods are considered – before and in the first years of the global economic and financial crisis, as well as just before the current COVID-19 pandemic. The analysis is supplemented by an assessment of the impact of individual clusters on the economic development of these countries.
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