Jakov Milatovic

Greater London, England, United Kingdom Contact Info
3K followers 500+ connections

Join to view profile

Experience & Education

  • Government of Montenegro

View Jakov’s full experience

See their title, tenure and more.

or

By clicking Continue to join or sign in, you agree to LinkedIn’s User Agreement, Privacy Policy, and Cookie Policy.

Volunteer Experience

  • Intern

    Center for Civic Education (Montenegro)

    Civil Rights and Social Action

    Assisted with the Governmental Transparency and Active Citizenship projects at one of the leading Montenegrin NGO's that works to promote the development of civil society and participation of citizens in policy making

  • Intern

    International Relations Office, Faculty of Economics (Montenegro)

    Worked on promotion of student exchange programs and mentorship of Montenegrin students preparing to study abroad as well as foreign students coming to Montenegro

  • Intern

    Embassy of Montenegro in Rome

    Helped with drafting of the dimplomatic correspondence to Italian institutions and international organisations based in Rome. Prepared reports on political and economic developments in Italy for Montenegrin Ministry of Foreign Affairs

Publications

  • The Legacy of Yugoslavia

    I.B.Tauris

    I co-authored one of the book's chapters, namely "Are Yugoslav successor states on the path to sustainable market economies?".

    See publication

  • Romania Diagnostic

    EBRD

    Romanian economy has been developing fast. The country benefitted considerably from the EU membership. GDP per capita, adjusted for purchasing power standards, has converged from 43
    per cent of the EU average in 2007 (the year of entry) to about 65 per cent today.

    Yet the journey towards an advanced market economy, which is sustainable, well-governed and inclusive, remains far from complete. This study highlights the key transition challenges and shows
    where Romania stands…

    Romanian economy has been developing fast. The country benefitted considerably from the EU membership. GDP per capita, adjusted for purchasing power standards, has converged from 43
    per cent of the EU average in 2007 (the year of entry) to about 65 per cent today.

    Yet the journey towards an advanced market economy, which is sustainable, well-governed and inclusive, remains far from complete. This study highlights the key transition challenges and shows
    where Romania stands vis-à-vis its peers.

    See publication

  • Bulgaria Diagnostic

    EBRD

    See publication

  • The Western Balkans in transition: diagnosing the constraints on the path to a sustainable market economy

    EBRD

    The six Western Balkans countries have strong economic potential but face a major convergence challenge in relation to comparator countries in the European Union. Encouraging progress has been made in the past two decades in terms of regional cooperation and advances towards eventual EU membership, and these trends are likely to continue, boosting growth and investment. However, significant convergence towards EU living standards requires a major and sustained boost to productivity and…

    The six Western Balkans countries have strong economic potential but face a major convergence challenge in relation to comparator countries in the European Union. Encouraging progress has been made in the past two decades in terms of regional cooperation and advances towards eventual EU membership, and these trends are likely to continue, boosting growth and investment. However, significant convergence towards EU living standards requires a major and sustained boost to productivity and investment. Firm-level productivity is significantly below EU standards, reflecting years of under-investment, weak institutions and a difficult business environment. An econometric analysis of the constraints to productivity and growth highlights the problems of corporate over-indebtedness and market concentration. A survey of firm owners and senior managers reveals the difficulties caused by the activities of competitors in the informal sector. Small businesses in particular find this obstacle, as well as corruption, highly problematic. Other constraints cited frequently include the cumbersome tax administration, difficulties in accessing a reliable electricity supply, and limited access to finance. Using the EBRD’s new framework of six transition qualities for assessing progress towards sustainable market economies, the paper shows that the Western Balkans region scores poorly relative to EU peers in terms of all six qualities, and particularly in the areas of competitiveness and good-governance. These results highlight the need for the implementation of a comprehensive and wide-ranging reform programme.

    See publication

  • Firm performance and obstacles to doing business in the Western Balkans

    Five interesting findings in the latest EBRD paper I co-authored on firm performance and obstacles to doing business in the Western Balkans.

    1. Living standards lag behind levels in the EU; GDP per capita is roughly half of that of Eastern EU countries (i.e. Poland, Hungary, Baltics…), and a mere quarter of the richest EU members. The region shows a similar gap in labour productivity, at only 60% that of the Eastern EU countries.

    2. Weak institutions and an unfavorable business…

    Five interesting findings in the latest EBRD paper I co-authored on firm performance and obstacles to doing business in the Western Balkans.

    1. Living standards lag behind levels in the EU; GDP per capita is roughly half of that of Eastern EU countries (i.e. Poland, Hungary, Baltics…), and a mere quarter of the richest EU members. The region shows a similar gap in labour productivity, at only 60% that of the Eastern EU countries.

    2. Weak institutions and an unfavorable business environment represent a large hidden tax on output and are at the heart of this prosperity and productivity gap.

    3. Businesses are concerned principally about unfair competition from informal sector. Other obstacles include corruption, reliability of electricity supply, tax rates and administration, access to finance, crime and inadequately educated labour force.

    4. Firms in the Western Balkans lose almost 15% of their annual sales because of crime, corruption, and poor electricity and transport infrastructure, a significantly higher loss than in EU.

    5. The role of export-oriented firms and FDIs is particularly important for future growth; however, the first are disproportionally affected by problems with customs and trade regulations, while the second by courts-related issues.

    Other authors
    See publication

  • China and South-Eastern Europe: Infrastructure, trade and investment links

    This note examines China’s growing economic links with south-eastern Europe (SEE). In recent years, China has become a major sponsor of flagship projects in the transport and energy sectors of the region. These projects are complementing efforts of the EU and international financial institutions to upgrade regional connections. Chinese-financed infrastructure investments are also motivated by the desire to enhance trade links with the region and facilitate direct investment by Chinese companies…

    This note examines China’s growing economic links with south-eastern Europe (SEE). In recent years, China has become a major sponsor of flagship projects in the transport and energy sectors of the region. These projects are complementing efforts of the EU and international financial institutions to upgrade regional connections. Chinese-financed infrastructure investments are also motivated by the desire to enhance trade links with the region and facilitate direct investment by Chinese companies in various manufacturing and services sectors.

    Other authors
    • Peter Sanfey
    • Oleg Levitin
    See publication

  • Tourism in south-eastern Europe – driving the recovery?

    Tourism is an increasingly important source of revenue and driver of growth in many countries in the EBRD region, and especially in south-eastern Europe (SEE). Receipts from international tourist arrivals account for more than 10 per cent of GDP in several countries in SEE, with a substantial upward trend in the past five years. In light of the security risks in other popular markets, SEE can expect to see further rises in tourism in the coming years, which would help consolidate the economic…

    Tourism is an increasingly important source of revenue and driver of growth in many countries in the EBRD region, and especially in south-eastern Europe (SEE). Receipts from international tourist arrivals account for more than 10 per cent of GDP in several countries in SEE, with a substantial upward trend in the past five years. In light of the security risks in other popular markets, SEE can expect to see further rises in tourism in the coming years, which would help consolidate the economic recovery under way in the region. However, a recent World Economic Forum report on competitiveness in the travel and tourism industry highlights important shortcomings associated with weak price competitiveness, a problematic business environment, inadequate infrastructure and low prioritisation of tourism industry. Addressing these problems would help the SEE region come closer to achieving its full potential in this important industry.

    Other authors
    • Peter Sanfey
    See publication

  • How the Western Balkans can catch up

    Countries in the Western Balkans – Albania, Bosnia and Herzegovina, FYR Macedonia, Kosovo, Montenegro and Serbia – all aspire to membership of the EU, but they face a major convergence challenge in terms of living standards. The main reason behind this prosperity gap lies in the failure over the years of Western Balkan countries to be competitive, meaning that they lack the appropriate factors and institutions needed for high levels of long-term productivity. The key issue is whether the…

    Countries in the Western Balkans – Albania, Bosnia and Herzegovina, FYR Macedonia, Kosovo, Montenegro and Serbia – all aspire to membership of the EU, but they face a major convergence challenge in terms of living standards. The main reason behind this prosperity gap lies in the failure over the years of Western Balkan countries to be competitive, meaning that they lack the appropriate factors and institutions needed for high levels of long-term productivity. The key issue is whether the Western Balkan countries can narrow the gap in the coming decade and, if so, what do they need to do to achieve this.

    The vital requirement for catching up with the rest of the EU is a boost to investment in the region. The Western Balkans have a number of attractive features for investors. The long-term EU perspective is a major plus and a unique quality of the region compared with other emerging markets, as it helps to anchor market-oriented reforms and European standards. Strong macroeconomic stability, strategic geographic location, diverse economies, favourable tax regimes and low unit labour costs, combined with a relatively well-educated population, are common attributes throughout the region.

    Looking ahead, sources of growth include trade integration, within the region and with the rest of the world, exploitation of the region’s energy resources, improvement of the transport infrastructure and technological innovation. However, long-term challenges remain, such as the possibility of a slowdown in reforms, risks posed by financial instability, adverse demographic trends and climate change. But provided governments in the region remain committed to reforms and regional cooperation, these challenges can be mitigated, if not overcome.

    Other authors
    See publication

  • 10 things you need to know about the Greek economy

    In the past year, enormous attention has been given to Greece’s debt problems, its relations with international creditors, and the possibility that Greece might default on its debts and even exit from the Eurozone. Now that the fears of a “Grexit” have receded, the focus needs to shift to the question of how to bring investment and growth back to the economy.

    Here we look at the structure of the Greek economy and at the decomposition of the output collapse in recent years. We identify…

    In the past year, enormous attention has been given to Greece’s debt problems, its relations with international creditors, and the possibility that Greece might default on its debts and even exit from the Eurozone. Now that the fears of a “Grexit” have receded, the focus needs to shift to the question of how to bring investment and growth back to the economy.

    Here we look at the structure of the Greek economy and at the decomposition of the output collapse in recent years. We identify ten key facts about the economy – ten ways in which Greece stands out relative to other EU countries and especially vis-à-vis EBRD countries of operations (COOs) within the EU.

    Other authors
    • Peter Sanfey
    See publication

  • The Western Balkans and EU Energy Security

    Energy security is a topic of growing concern to many EU countries and the Western Balkans, here defined as Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia, could play a role in improving that security through possible investment in liquefied natural gas (LNG) terminals and new gas pipelines.

    Other authors
    • Peter Sanfey
    See publication

  • The impact on the EBRD region of Russia’s food ban

    Russia imposed a ban on food imports from the West, including 11 countries where the EBRD invests, in early August 2014. The one-year import ban on fruits, vegetables, meat, fish, milk and dairy products from the EU, the US, Australia, Canada and Norway was part of its reaction to the West’s own sanctions imposed as a response to Russia’s involvement in the conflict in Ukraine. Russia’s ban on food imports from the West will affect different countries, including Russia itself, in different ways.

    Other authors
    See publication

  • Central and Eastern Europe (CEE): Fit for the next decade in the EU

    EU accession was an important milestone in the economic catch-up story of the ten EU members in Central and Eastern Europe (CEE-10). Ten years and a textbook boom-bust cycle later, the CEE-10 have witnessed not only the benefits but also the drawbacks of such strong integration

    Other authors
    • Marion Mühlberger
    • Kevin Körner

Languages

  • Serbo-Croatian

    Native or bilingual proficiency

  • English

    Full professional proficiency

  • Italian

    Professional working proficiency

  • Spanish

    Elementary proficiency

View Jakov’s full profile

  • See who you know in common
  • Get introduced
  • Contact Jakov directly
Join to view full profile

Other similar profiles

Explore more posts

Explore collaborative articles

We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.

Explore More

Add new skills with these courses

See all courses