Unlocking regional value chains: Fintech’s role in the Western Balkans' integration into global markets

• Shaqiri , Gentjan ^[1] ; Kacani, Jolta ^[1] ; Qorraj , Gazmend ^[2]
  1. [1] University of Tirana

     University of Tirana

     Albania

     
  2. [2] Jean Monnet Chair, University of Prishtina
• Localización: European Journal of Government and Economics, ISSN-e 2254-7088, Vol. 13, No. 2, 2024, págs. 206-224
• Idioma: inglés
• DOI: 10.17979/ejge.2024.13.2.10173
• Enlaces
  • Texto completo
• Resumen

  • Digitalization and automation are restructuring the geographical landscape of operations and labor, significantly altering operations in global value chains (GVCs). Digital technologies are expected to boost resilience, enhance transparency, and foster sustainability in GVCs. In this context,  this paper looks at how the application of fintech solutions fosters the creation of regional value chains (RVCs), increasing attractiveness and generating new opportunities for enterprises in the Western Balkan region to participate in GVCs To fill the existing gap for granular analysis at the industry level, the paper examines if enterprises in the Western Balkans that apply of fintech solutions in financial management have better opportunities to create RVCs than the ones that resist fintech implementation. Using a benchmarking instrument on fintech solutions implemented on 370 enterprises, this paper tries to identify industries with the highest potential to create RVCs and higher prospects for integration in GVCs. Our findings indicate that fintech solutions and applications can be one of the main driving forces in transforming and upgrading RVCs in Western Balkan countries.

• Referencias bibliográficas
  • Abou-foul, M., Ruiz-Alba, J.L. & Soares, A. (2021). The impact of digitalization and servitization on the financial performance of a firm:...
  • Adeleye, B.N., Adedoyin, F. & Nathaniel, S. (2021). The criticality of ICT trade nexus on economic and inclusive growth. Information Technology...
  • Antonucci, Y.L., Fortune, A. & Kirchmer, M. (2021). An examination of associations between business process management capabilities and...
  • Arrfelt, M., Mannor, M., Nahrgang, J.D. & Christensen, A.L. (2018). All risk-taking is not the same: Examining the competing effects of...
  • Avom, D., Dadegnon, A.K. & Igue, C.B. (2021). Does digitalization promote net job creation? Empirical evidence from WAEMU countries. Telecommunications...
  • Banga, K. (2020). Digital technologies and product upgrading in global value chains: Empirical evidence from Indian manufacturing firms. The...
  • Caputo, A., Pizzi, S., Pellegrini, M. M. & Dabic, M. (2021). Digitalization and business models: Where are we going? A science map of...
  • Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2022). The Global Findex Database 2021: Financial Inclusion, Digital Payments,...
  • Dünhaupt, P. & Herr, H. (2021). Global value chains-a ladder for development? International Review of Applied Economics, 35 (4), 456-474....
  • Egwuonwu, A., Mordi, C., Egwuonwu, A. & Uadiale, O. (2022). The influence of blockchains and internet of things on global value chain....
  • Elia, S., Giuffrida, M., Mariani, M.M. & Bresciani, S. (2021). Resources and digital export: An RBV perspective on the role of digital...
  • Feroz, A. K., Zo, H. & Chiravuri, A. (2021). Digital transformation and environmental sustainability. Sustainability, 13 (3), 1530-1551....
  • Gleibner, W., Günther, T. & Walkshäusl, C. (2022). Financial sustainability: Measurement and empirical evidence. Journal of Business Economics,...
  • Goldfarb, A. & Tucker, C. (2019). Digital economics. Journal of Economic Literature, 57, 3-43. https://doi.org/10.1257/jel.20171452 DOI:...
  • Gruber, H. (2019). Proposals for a digital industrial policy for Europe. Telecommunication Policy, 43 (2).116-127. https://doi.org/10.1016/j.telpol.2018.06.003...
  • Guo.L, Chen, J., Li,S., Li,Y. & Lu,J. (2022). A blockchain and IoT-based lightweight framework for enabling information transparency in...
  • Helmerich, N., Raj-Reichert, G. & Zajak, S. (2021). Exercising associational and networked power through the use of digital technology...
  • International Telecommunication Union. (2023). Digital innovation profile: North Macedonia. ITU Publications, Geneva, Switzerland, https://www.itu.int/dms_pub/itu-d/opb/inno/D-INNO-PROFILE.NORTHMACEDONIA-2023-PDF-E.pdf
  • Ishamuddin, M., Vaicondam, Y., Agha, J., Burkhanov, A.U. & Binti Yusof, S. H. (2023). Cybersecrity Challenges and Solutions in the Fintech...
  • Javorcik, B. (2020). Reshaping of global supply chains will take place, but it will not happen fast. Journal of Chinese Economic and Business...
  • Juliet Orji, I., Ojadi, F. & Kalu Okwara, U. (2022). The nexus between E-commerce adoption in a health pandemic and firm performance:...
  • Kacani, J. & Shaqiri, G. (2023). Emerging ICT clusters in the Western Balkans: A convergence model based on financial statement analysis....
  • Kacani, J., Mukli, L. & Hysa, E. (2022). A framework for short- vs. long-term risk indicators for outsourcing potential for enterprises...
  • Kan, D., Lyu, L., Huang, W. & Yao, W. (2022). Digital economy and the upgrading of the global value chain of China's service industry....
  • Kano, L., Tsang, E. W. & Yeung, H. W. C. (2020). Global value chains: A review of the multi-disciplinary literature. Journal of International...
  • Kasasbeh, F.I. (2021). Impact of financing decisions ratios on firm accounting-based performance: Evidence from Jordan listed companies. Future...
  • Kiselakova, D., Sofrankova,B., Cabinova,V. & Soltesova, J. (2018). Analysis of enterprise performance and competitiveness to streamline...
  • Laitinen, E.K. (2018). Financial reporting: Long-term change of financial ratios. American Journal of Industrial and Business Management,...
  • Le, H.T., Hoang, D.P., Doan, T.N., Pham, C.H. & To, T.T. (2021). Global economic sanctions, global value chains and institutional quality:...
  • Lee, Y. & Falahat, M. (2019). The impact of digitalization and resources on gaining competitive advantage in international markets: Mediating...
  • Li, F., Frederick,S. & Gereffi,G. (2019). E-commerce and industrial upgrading in the Chinese apparel value chain. Journal of Contemporary...
  • Liu, W., Zhang, J., Wei, S. & Wang, D. (2021). Factors influencing organisational efficiency in a smart-logistics ecological chain under...
  • Longbing C., Yang, Q. & Yu, P.S. (2021). Data science and AI in FinTech: an overview. International Journal of Data Science and Analytics,...
  • Lukacova, M., Korecko,J., Jencova,S. & Juskova, M. (2020). Analysis of selected indicators of tax competition and tax harmonization in...
  • McCormick, M. & Somaya, D. (2020). Born globals from emerging economies: reconciling early exporting with theories of internationalization....
  • Meltzer, J.P. (2019). Governing digital trade. World Trade Review, 18 (1), 23-48. https://doi.org/10.1017/S1474745618000502 DOI: https://doi.org/10.1017/S1474745618000502
  • Nguyen, C.P., Schinckus, C. & Su, T.D. (2020). The drivers of economic complexity: international evidence from financial development and...
  • Niemand, T., Rigtering, J.P.C., Kallmünzer, A., Krauch, S. & Maalaoui, A. (2021). Digitalization in the financial industry: A contingency...
  • Nugraha, D.P., Setiawan, B., Nathan, R.J. & Fekete-Farkas, M. (2022). FinTech adoption drivers for innovation for SMEs in Indonesia. Journal...
  • Odorović, A., McKain, G., Garvey, K., Schizas, E., Zhang, B.Z., Rowan, Ph. & Ziegler, T. (2020). FinTech Innovation in the Western Balkans:...
  • OECD (2023). Regulatory sandboxes in artificial intelligence. OECD Digital Economy Papers, No. 356, OECD Publishing, Paris.
  • Pananond, P., Gereffi, G. & Pedersen, T. (2020). An integrative typology of global strategy and global value chains: the management and...
  • Pasquali, G., Godfrey, S. & Nadvi, K. (2021). Understanding regional value chains through the interaction of public and private governance:...
  • Pournader, M., Shi, Y., Seuring, S. & Lenny Koh, S.C. (2020). Blockchain applications in supply chains, transport and logistics: A systematic...
  • Qi, J.Y., & Ren, Y.D. (2021). The impact of digital economy penetration on global value chain position: Transnational empirical research...
  • Radosavljević, K. (2023). Opportunities and challenges in sustainability digital transformation and risk mitigation in emerging insurance...
  • Santos-Jaén, J.M., Gimeno-Arias, F., Gómez, A.L. & Palacios-Manzano, M. (2023). The Business digitalization process in SMEs from the implementation...
  • Sun, Y., Li, S., & Wang, R. (2023). Fintech: From budding to explosion-an overview of the current state of research. Review of Managerial...
  • Thun, S., Bakås, O. & Storholmen, T.C.B. (2021). Development and implementation processes of digitalization in engineer-to-order manufacturing:...
  • Truby, J., Dahdal, A., Caudevilla, O. (2022). Global blockchain-based trade finance solutions: analysis of governance models and impact on...
  • Wielgos, D.M., Homburg, C. & Kuehnl, C. (2021). Digital business capability: Its impact on firm and customer performance. Journal of the...
  • Yue, W. (2022). Foreign direct investment and the innovation performance of local enterprises. Humanities and Social Science Communication,...