A Network Approach to Studying Global Value Chains: The Case of the Balkan Peninsula

The article attempts to identify structural characteristics of global value chains (GVCs) using the example of the Balkan Peninsula through a network-based approach. The relevance of the chosen topic is connected both with the region’s advantageous geographical location in terms of logistics routes and with the growing investment attractiveness for new regional actors, particularly China. The choice of methodology is based on the fact that modeling the GVC network, considering the number and density of chains, allows for an assessment of the characteristics of economic integration within the region and the identification of key actors. Although the Balkan countries are not formally part of a single economic space, they engage in economic relations both among themselves and with EU countries and third countries. At the same time, EU countries serve as the primary economic partners for the Balkan Peninsula. This raises the question: to what extent can the region conduct an independent economic policy without the participation of EU countries? What role do new actors, such as Turkey and China, play in the development of the region’s GVCs? Are the Balkan countries leaning towards integration with the EU or towards developing an independent common economic space? The constructed models of GCVs networks make it possible to assess the degree of a country’s involvement in the region’s GVCs (degree of centrality), identify strong bilateral connections between countries, and evaluate the overall configuration of the model. As a result of the analysis of the region’s GVC models for recent period it was shown that Italy and Germany play a key role in shaping the region’s connectivity through value chains. Notably, the countries within the region also establish connections among themselves, with a distinct group formed by the former Yugoslavian countries. In 2021–2025 China played a significant role in expanding trade with several countries in the region. Additionally, Serbia’s role in the GVCs increased during the same year. Nevertheless, at this stage, considering the economic conditions of the regional countries, it is difficult to speak of a realistic possibility of forming an autonomous common economic space independent of the EU.