Publication:
Bosnia and Herzegovina : Country Economic Memorandum

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-06-21T17:59:21Z
dc.date.available2012-06-21T17:59:21Z
dc.date.issued2005-05
dc.description.abstractThis Country Economic Memorandum (CEM) takes stock of economic developments in Bosnia and Herzegovina (BH) since the end of the 1995 war, and, discusses potential sources of high, sustained growth that BH could exploit, as European Union integration advances. The report formulates policy recommendations that would help maximize the potential of the country's economy to achieve higher real GDP growth, and increased job generation. In doing so, the CEM focuses on four priority policy areas: macroeconomic management, international trade policy, business environment and enterprise reform, and, labor market policies. The report conveys the need to significantly build human capital, strengthen the institutional framework, particularly focusing on social sectors, and, develop infrastructure. Despite the country's recent macroeconomic stability, there are still uneven structural policies, and a largely unfinished agenda. The single most important macroeconomic imbalance is the persistent current account deficit. The analysis presented in this report suggests that it is the result of low domestic savings rates, rather than high investment. The rate of investment is not above the average for transition economies, whereas the share of domestic savings that can finance it is particularly low. The need for higher domestic savings raises the question of the adequacy of BH's current fiscal policy stance to serve economic growth. In the area of trade, the recent sluggish performance can hardly be attributed to a policy stance that has pursued liberalization and integration. The real constraints to a more dynamic export performance lie in the business environment and investment climate. The challenges of broad-based enterprise reforms essentially center around two main issues a) removal of structural barriers to the creation, and functioning of competitive markets; and, b) establishment of rules, procedures and related institutions that create incentives to facilitate business transactions. Challenges in the labor market are numerous: unemployment is high and rising, and, jobs being created are scarce, mainly in the informal sector. The report provides several recommendations, among which some suggest the need for changes in privatization regulations, of increased labor market flexibility, of fundamental changes in corporate ownership rules, as well as in the rules for privatization of investment funds, and most importantly, for adequate sequencing of reforms and improved governance.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/05/6085193/bosnia-herzegovina-country-economic-memorandum
dc.identifier.doi10.1596/8676
dc.identifier.urihttps://hdl.handle.net/10986/8676
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADEQUATE SAFETY NETS
dc.subjectADMINISTRATIVE ARRANGEMENTS
dc.subjectADMINISTRATIVE FRAMEWORK
dc.subjectAGRICULTURE
dc.subjectANTI-COMPETITIVE PRACTICES
dc.subjectAPPAREL
dc.subjectAPPAREL INDUSTRY
dc.subjectBANKING SUPERVISION
dc.subjectBANKRUPTCY
dc.subjectBANKRUPTCY LAWS
dc.subjectBARRIERS TO ENTRY
dc.subjectBILATERAL FREE TRADE AGREEMENTS
dc.subjectBORDER TRADE
dc.subjectBRAIN DRAIN
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCAPITAL MARKETS
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPETITION POLICY
dc.subjectCOMPETITIVE MARKET
dc.subjectCOMPETITIVE MARKETS
dc.subjectCOMPETITIVE PRESSURES
dc.subjectCOMPETITIVENESS
dc.subjectCONSENSUS
dc.subjectCONSOLIDATION
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORRUPTION
dc.subjectCOURT SYSTEM
dc.subjectCPI
dc.subjectCROWDING OUT
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT
dc.subjectDECISION - MAKING
dc.subjectDEPOSITS
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDOMESTIC COMPETITION
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC TRENDS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT GENERATION
dc.subjectENTERPRISE REFORM
dc.subjectENTERPRISE RESTRUCTURING
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE POLICY
dc.subjectEXCHANGE RATES
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORTS
dc.subjectEXTERNAL DEBT RATIOS
dc.subjectEXTERNAL FINANCING
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL SECTOR
dc.subjectFISCAL
dc.subjectFISCAL COSTS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL POLICY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN RESERVES
dc.subjectFOREIGN TRADE
dc.subjectFORESTRY
dc.subjectFORMAL EMPLOYMENT
dc.subjectFREE TRADE
dc.subjectGDP
dc.subjectGLOBAL MARKETS
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGOVERNMENT SECTOR
dc.subjectGOVERNMENT SPENDING
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN RESOURCES
dc.subjectIMPORTS
dc.subjectINDUSTRIAL POLICY
dc.subjectINDUSTRIAL PRODUCTION
dc.subjectINFLATION
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMAL SECTOR
dc.subjectINSTITUTIONAL ARRANGEMENTS
dc.subjectINSTITUTIONAL REFORMS
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL TRADE
dc.subjectINTERNATIONAL TRADE POLICY
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT SPENDING
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET FLEXIBILITY
dc.subjectLABOR MARKET INSTITUTIONS
dc.subjectLABOR MARKET POLICIES
dc.subjectLABOR MARKETS
dc.subjectLABOR PRODUCTIVITY
dc.subjectLABOR SUPPLY
dc.subjectLEGAL SYSTEM
dc.subjectLEGISLATION
dc.subjectLEVEL PLAYING FIELD
dc.subjectLIQUIDATION
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET LIBERALIZATION
dc.subjectMARKET SHARE
dc.subjectMINIMUM WAGE
dc.subjectMONETARY POLICY
dc.subjectNATIONALS
dc.subjectNET INFLOWS
dc.subjectPOLICY UNCERTAINTY
dc.subjectPOLITICAL APPOINTMENTS
dc.subjectPOLITICAL ECONOMY
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPROFIT SEEKING
dc.subjectPROFITABILITY
dc.subjectPROPERTY RIGHTS
dc.subjectPROTECTIONISM
dc.subjectPROTECTIONIST POLICIES
dc.subjectPUBLIC ADMINISTRATION
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SERVICES
dc.subjectRATIONALIZATION
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL GDP
dc.subjectREGULATORY FRAMEWORK
dc.subjectRESERVE REQUIREMENTS
dc.subjectSAVINGS
dc.subjectSAVINGS RATES
dc.subjectSOCIAL CAPITAL
dc.subjectSOCIAL PROGRAMS
dc.subjectSOFT BUDGET CONSTRAINTS
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectTARIFF RATES
dc.subjectTARIFF SCHEDULE
dc.subjectTAX ADMINISTRATION
dc.subjectTAX AUTHORITIES
dc.subjectTAX AUTHORITY
dc.subjectTAX RATES
dc.subjectTAXATION
dc.subjectTRADE DATA
dc.subjectTRADE FACILITATION
dc.subjectTRADE PERFORMANCE
dc.subjectTRADE POLICIES
dc.subjectTRADE REGIME
dc.subjectTRANSITION ECONOMIES
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNSKILLED LABOR
dc.subjectWAGE DISTRIBUTION
dc.subjectWAGES
dc.subjectWORKING CAPITAL
dc.subjectWORLD MARKETS
dc.titleBosnia and Herzegovina : Country Economic Memorandumen
dc.title.alternativeBosna i Hercegovina - Ekonomski memorandum za BiHen
dspace.entity.typePublication
okr.date.disclosure2005-08-08
okr.date.doiregistration2025-05-07T10:33:51.571740Z
okr.doctypeEconomic & Sector Work::Country Economic Memorandum
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2005/05/6085193/bosnia-herzegovina-country-economic-memorandum
okr.guid185551468006623509
okr.guid934851468013767959
okr.identifier.externaldocumentum000012009_20050722104356
okr.identifier.internaldocumentum6085193
okr.identifier.report29500
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/07/22/000012009_20050722104356/Rendered/PDF/295001BA0rev.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryBosnia and Herzegovina
okr.region.geographicalEurope
okr.sectorFinance
okr.sectorIndustry and trade
okr.sectorEducation
okr.sectorAgriculture
okr.sectorfishing
okr.sectorand forestry
okr.unitPoverty Reduction/Econ Mngmt (ECSPE)
okr.volume1 of 1
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