Small and medium-sized enterprises (SMEs) are vital to Albania's economy but face significant financing challenges amid monetary tightening. Utilizing firm-level data from 2022-2023, this study documents that the abrupt interest rate increases in 2022 prompted a rise in alternative financing...

Whereas the Europeanisation of spatial planning in the Member States is extensively researched, few studies have focused on non-Member countries. To shed some light on the matter, this contribution analyses how the European Union (EU) has influenced spatial planning organisation and practices in...

Over the past decade, the Albanian banking sector has undergone a remarkable transformation amid strong macroeconomic performance and sound financial reforms. Nevertheless, pockets of vulnerability remain, including some that were identified during the IMF's 2014 Financial Sector Assessment...

In recent years, Albania has experienced a sustained appreciation of the domestic currency. This raises the questions of what factors are driving this appreciation and how to calibrate appropriate policy responses. Drawing on insights provided by the IMF's integrated policy framework (IPF), this...

This study evaluates the impact of investment in rural roads on household welfare in Albania. Using a difference-in-differences method, we find that treated households experienced a 35-percentage point increase in the quality of roads relative to control households and reduced travel times to...