Analysis of the Western Balkans Territories Using the Index of Economic Freedom

Abstract

Abstract The aim of the paper is to assess the current state of economic freedom in the Western Balkans region using the Index of Economic Freedom. From the Western Balkans territories, the best rating in the observed period of 2010 – 2019 is achieved by the Republic of North Macedonia and the worst by Bosnia and Herzegovina. According to the 2020 Index of Economic Freedom, the region belongs to the group of moderately free economies. The investment and business environment of the Western Balkans is at a low level. The reason is poor law enforcement, corruption, organized crime, or the shadow economy.