This paper analysis the Western Balkan power market, taking in consideration 6 countries from the Area: Albania, Croatia, Bosnia and Herzegovina, Serbia and Montenegro. All these countries are members of the European Network of Transmission System Operators, an association of 43 electricity transmission system operators (TSOs) from 36 countries across Europe. Electricity production in the Western Balkans is CO2 intensive, as most countries in the region use domestic lignite (brown coal) reserves to generate electricity. Greenhouse gas emissions show a distinct pattern: overall per capita emissions are significantly below the level of most developed countries, but electricity sector emissions per unit of output are higher due to the high share of lignite and hard-coal in the power. The Western Balkan countries have difference composition of their electricity supply mainly based on hydropower generation or thermo power generation. Currentlty this systems face market inefficiencies and power outages. The aim of these models is to show how the hydroelectric generators of some countries can use their water storage capacities strategically to mainly affect off-peak prices, while heat generators of other countries can manage their capacity strategically to influence peak prices. The potential of regional coordination has been highlighted also by the European Commission within the recent legislative proposal, "Clean Energy Package for All Europeans". The aim of this paper, is to raise awareness on the need to have more regulatory alignment in the Western Balkan region to remove the economic and political barriers between these countries.

This paper investigates the relationships between energy consumption and GDP growth for 6 Western Balkan countries over 10 years period from 2005 to 2014. The countries under consideration are: Albania, Bosnia and Herzegovina, Croatia, Serbia, Montenegro, and Macedonia, FYR. The aim of this study is to evaluate the energy demand across time and within these countries. The other variables that are considered in the model are the Electricity use per capita, the Oil price referred to Crude Oil International markets price expressed in USD and the exchange rate. Recently, numerous empirical studies have been conducted to detect this relationship, but not specifically to the Western Balkan region. There are general characteristics, due to the common historical background, but also specific patterns of the economic structure shaping the energy demand of each country. The main approaches to energy demand modeling are the Bottom-up and Top Down approaches. Currently important research is conveying also toward the Hybrid models. The demand in this countries is very susceptible to external oscillations, leading to severe exogenous impacts on the long term equilibrium, fitting more towards a top down macroeconometric model.

The transition towards renewable energy sources has increased the interest in Hydro Power generation. The socio-environmental externalities produced from big HPPs have a significant impact on the local communities and on the overall economy of the country. There is consensus in the literature that small HPPs cause fewer and less severe environmental and social externalities than large HPPs. Anyway, the electricity supply is guaranteed by bigger investments and the trade-off is not quite simple to clarify. The study is based on a set of sustainability indicators which provide a life cycle analysis of the Skavica Hydro Power Plant and the relative investment scheme. The aim of this paper is to identify the general externalities related to the construction of a big HPP and to connect to the specific case study of Skavica HPP. Furthermore, the estimation of benefits and costs along with public discussions is integrated to evidence the legitimate social and environmental concerns of people living in areas where dams are planned. Policy options intended to adopt these externalities are also addressed. Keyword: Hydro Power Plant, renewable energy, Skavica, externalities, policy, floodings prevention, electricity

This paper investigates the average impact of government debt on long-term GDP growth in four Western Balkan countries of Albania, Serbia, Macedonia, and Bosnia & Herzegovina over a 23-year period from 1997-2019. It examines the use of financing through debt on short- and long-term economic growth for these economies using a dynamic common correlated effects model with heterogeneous coefficients. The model's methodology estimation mimics Chudik and Pesaran and the pooled mean group estimator is used. The conclusion of this study, with respect to the average impact of government debt on long-term GDP growth in the four Western Balkan countries, is consistent with the literature in that in the long-term external debt does not contribute to long-term growth and, in fact, tends to have a negative impact. The COIVD-19 pandemic has exacerbated the long-term growth outlook for the four Western Balkan countries.   Received: 21 December 2021 / Accepted: 22 February 2022 / Published: 5 March 2022

This study attempts to provide a general overview on the use of accounting information in Albania. An extensive use of accounting information by different stakeholders would be a testimony of the quality and reliability of accounting information, but the opposite would indicate otherwise calling for improvement in the area of financial reporting. Data are collected by means of a questionnaire. All respondents are certified accountants, members of the biggest and most prominent-certified accountants association in Albania. The questionnaire reveals that in general accounting, information is not heavily used neither by entities’ management nor by other users. Surprisingly, users of accounting information that are closest to the entity use it very little or not at all, raising big questions on the quality and trustworthiness of accounting information. The study is just an initial assessment of the perceived usefulness of accounting information in Albania. The questionnaire is addressed to certified accountants who answer on behalf of their client companies. The study investigates the usefulness of accounting information as perceived by various stakeholders in Albania. Even though this is a well-researched topic worldwide, to the knowledge of the authors there are no such studies in Albania.