Globalization-Albania Essay Example | Topics and Well Written Essays - 3750 words

Globalization-Albania - Essay Example Apparently, Albania has also been strongly affected by the impacts of globalization in almost every sphere of its economic environment (Fulani, 2012). Based on this notion, the discussion henceforth will attempt to analyze the history of Albania and the transactional era of the country, considering its post-independence era since the 1990s. Historians and economists have often argued that most of the changes witnessed in the economic structure of Albania took place during the 1990s, after its independence. For instance, at the post independent era, Albania began moving towards global open market operations, increasing the effects of globalization on the economy (Barolli, n.d.). These economic interventions in Albania will also be analyzed to review the prosperity of the nation, on the basis of several parameters. Contextually, this paper will aim at analyzing the political conditions of Albania and the governmental structure of the country, treating it as a parameter to achieve econo mic prosperity. The legal and regulatory business environment of Albania will also be discussed in the paper, captivating the concern of international trade rules and legal policies followed by the country. This paper will further concentrate on the economic advantages of the country, by analyzing the natural resources of Albania along with its financial and monetary policies. Furthermore, the several cultural dimensions of the Albania and the impact of this diversity on its economical growth will also be defined in the further discussion. In addition, the discussion will render due emphasis on identifying the key competitive advantages associated with the current economic model in Albania and accordingly, suggest few recommendations for the country to sustain its growth in the global context. History of Albania Albania is situated in the South-Eastern border of Europe. The country has an ‘emerging democracy’. Officially, it is well known as the ‘Republic of Alban ia’. Its capital is Tirana or Tirane (CIA, n.d.). However, the mystery is today solved and the people of Albania are referred as ‘Albanians’, the most Ancient Race in the South-Eastern Europe. Contextually, several theories have been established in order to solve the problems associated with the country and to reach the current state (Barolli, n.d.). According to Gjata (2013), â€Å"Albanian history is one long tale of epic struggles against one invader after the other†. Apparently, historical factors have impacted the identity of Albania through several centuries in terms of foreign dominations and also due to the two consequent World Wars. In the beginning of the 9th century, particularly because of the weaknesses possessed by the then authoritative Byzantine Empire in Albania, Angevins of the Southern Italy, Venetians as well as Serbs obtained the opportunity to invade Albania and consequently, obtain a dominating position within the dynasty. This furth er paved the way to the fall of Byzantine Empire in the country. As a result, in the mid of 14th century, the rule of Byzantine Empire came to the end, which was controlling the nation for almost 1000 years. After few decades, the country faced another threat which came from Ottoman Turks in the year 1388 and after four