Institutions and integration (im)maturity: The case of Bosnia and Herzegovina

Šiljak, Dženita and Nielsen, Kristian L. (2023) Institutions and integration (im)maturity: The case of Bosnia and Herzegovina. Society and Economy, 45 (2). pp. 136-155. DOI

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In this paper, we analyze the integration maturity of Bosnia and Herzegovina (BiH) on its path towards EU membership and the role of institutions in the process. Integration maturity focuses on five main parameters for readiness to make integration successful: macroeconomic stability, functioning market economy, competitiveness, access to foreign finance and convergence. We combine a discussion of BiH’s readiness on these parameters with insights from institutional economics, and show how inefficient institutions are major obstacles to BiH achieving sustained economic growth and attaining the necessary integration maturity. The main reasons for the institutional deficiencies relate to BiH being an ethnically divided country, but just as much it reflects corruption and elite capture of institutions. Only by thoroughly rethinking and reforming its institutional framework will Bosnia and Herzegovina be able to move forward.

Item Type:Article
Uncontrolled Keywords:Bosnia and Herzegovina, integration maturity, institutions, transition, EU
JEL classification:E02 - Institutions and the Macroeconomy
F15 - Economic Integration
O43 - Institutions and Growth
Subjects:Economic development
Economic policy
ID Code:8280
Deposited By: Alexa Horváth
Deposited On:12 Jun 2023 13:09
Last Modified:12 Jun 2023 13:09

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