Research indicates that access to larger markets, curtailing corruption, and creating an
entrepreneurial culture are important ingredients for a successful transformation from a
centrally planned economy to a marke
t economy.
This paper argues that among those
three factors, creating a business culture and cultivating entrepreneurial skills are the
most important factors in the case of Albania.
Albania’s transition during the last two
decades is often used as a micro
cosm to investigate the transformation process toward a
market economy.
The creation of an entrepreneurial economy can foster economic devel
-
opment, systematically fight corruption, and allow Albania to economically join the rest
of Europe. A framework mod
eling conditions necessary for fostering entrepreneurship in
Albania is examined, and several recommendations are offered.
There are many lessons
that other small economies in transition can learn from Albania’s experience.
