Financial Literacy and Knowledge of EU Financial Infrastructure and Institutions in the Western Balkans

The EU integration process and accession policy has been one the most widely discussed and articulated issues in all Western Balkans (WB) countries, up to the point of being a uniform strategic objective of all governments, throughout the region. At the same time, it has been one of the few topics on which all political parties have built an unconditioned consent-sus, a unique trait of Balkan politics and attitude. Notwithstanding this fact, the general information and the financial literacy and knowledge about the lengthy EU accession and integration process in the Western Balkans, have been almost out of sight, or active public discussion. The survey analysis, undertaken as a regional one (including Albania, Kosovo, North Macedonia, and Bosnia & Herzegovina), aims to assess the level of financial literacy and knowledge of WB (student) youth, about the EU Financial Infrastructure and Institutions, including the integration & accession process and financial policies. The analysis uses a logistic regression model to have a quantitative evaluation of the level of financial literacy and knowledge of WB (student) about EU Financial Infrastructure and Institutions. Results show that students in the Western Balkans show a different understanding of EU levels of financial literacy and knowledge about EU Financial Infrastructure and Institutions and the EU accession process, itself. It concludes that the understanding of the EU chapters and policies increases upon three variables Study cycle, Related EU courses, and Related study programs. Students of higher study cycles (on behalf of this analysis, master students compared to bachelor students) have a better understanding of EU levels of financial literacy and knowledge. For more, the probability of a good understanding of the country’s economic integration chapters to the EU is higher for individuals who have master’s degrees, and for individuals who have finished Related EU courses and Related study programs. The article highlights gaps in EU integration knowledge among Western Balkan students, emphasizing the need for tailored educational programs, improved curriculum content, and increased financial literacy to support EU aspirations.