State and prospects for improving the competitiveness of Serbian economy on the road to European Union

Abstract

Each country following its economic interests approaches the process of EU accession. Economic interests are emerging as a necessary but not sufficient motive for joining. This means that the economic performance is overshadowed by the fulfillment of the political criteria. After all, the history of the European Union shows that decisions on membership were more often of a political nature, even in situations when economic conditions were not met. The success of the process of Serbia’s accession to the European Union largely depends on its international competitiveness. Based on the analysis of costs and benefits of the accession process, the authors of the work will try to determine the cost of this process, as well as the limitations it implies. Bearing in mind that raising the competitiveness of the Serbian economy is defined as a significant strategic objective of development, the goal of this paper is to highlight the key strengths and weaknesses of Serbia in the field of international competitiveness by applying Porter’s diamond.

Keywords

• accession process
• european union
• the republic of serbia
• competitiveness
• advantages
• disadvantages