Publication:
Bosnia and Herzegovina : Country Economic Memorandum

dc.contributor.author World Bank
dc.date.accessioned 2012-06-21T17:59:21Z
dc.date.available 2012-06-21T17:59:21Z
dc.date.issued 2005-05
dc.description.abstract This 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.identifier http://documents.worldbank.org/curated/en/2005/05/6085193/bosnia-herzegovina-country-economic-memorandum
dc.identifier.uri http://hdl.handle.net/10986/8676
dc.language English
dc.language.iso en_US
dc.publisher Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ADEQUATE SAFETY NETS
dc.subject ADMINISTRATIVE ARRANGEMENTS
dc.subject ADMINISTRATIVE FRAMEWORK
dc.subject AGRICULTURE
dc.subject ANTI-COMPETITIVE PRACTICES
dc.subject APPAREL
dc.subject APPAREL INDUSTRY
dc.subject BANKING SUPERVISION
dc.subject BANKRUPTCY
dc.subject BANKRUPTCY LAWS
dc.subject BARRIERS TO ENTRY
dc.subject BILATERAL FREE TRADE AGREEMENTS
dc.subject BORDER TRADE
dc.subject BRAIN DRAIN
dc.subject BUSINESS ENVIRONMENT
dc.subject CAPITAL MARKETS
dc.subject COMMERCIAL BANKS
dc.subject COMPETITION POLICY
dc.subject COMPETITIVE MARKET
dc.subject COMPETITIVE MARKETS
dc.subject COMPETITIVE PRESSURES
dc.subject COMPETITIVENESS
dc.subject CONSENSUS
dc.subject CONSOLIDATION
dc.subject CORPORATE GOVERNANCE
dc.subject CORRUPTION
dc.subject COURT SYSTEM
dc.subject CPI
dc.subject CROWDING OUT
dc.subject CURRENCY
dc.subject CURRENT ACCOUNT
dc.subject CURRENT ACCOUNT BALANCE
dc.subject CURRENT ACCOUNT DEFICIT
dc.subject DEBT
dc.subject DECISION - MAKING
dc.subject DEPOSITS
dc.subject DEVELOPMENT STRATEGY
dc.subject DOMESTIC COMPETITION
dc.subject DOMESTIC MARKET
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC TRENDS
dc.subject EMPLOYMENT
dc.subject EMPLOYMENT GENERATION
dc.subject ENTERPRISE REFORM
dc.subject ENTERPRISE RESTRUCTURING
dc.subject EXCHANGE RATE
dc.subject EXCHANGE RATE POLICY
dc.subject EXCHANGE RATES
dc.subject EXPORT PERFORMANCE
dc.subject EXPORTS
dc.subject EXTERNAL DEBT RATIOS
dc.subject EXTERNAL FINANCING
dc.subject FINANCIAL INSTITUTIONS
dc.subject FINANCIAL SECTOR
dc.subject FISCAL
dc.subject FISCAL COSTS
dc.subject FISCAL DEFICIT
dc.subject FISCAL POLICY
dc.subject FOREIGN DIRECT INVESTMENT
dc.subject FOREIGN INVESTMENT
dc.subject FOREIGN INVESTORS
dc.subject FOREIGN RESERVES
dc.subject FOREIGN TRADE
dc.subject FORESTRY
dc.subject FORMAL EMPLOYMENT
dc.subject FREE TRADE
dc.subject GDP
dc.subject GLOBAL MARKETS
dc.subject GOVERNMENT INTERVENTION
dc.subject GOVERNMENT SECTOR
dc.subject GOVERNMENT SPENDING
dc.subject HUMAN CAPITAL
dc.subject HUMAN RESOURCES
dc.subject IMPORTS
dc.subject INDUSTRIAL POLICY
dc.subject INDUSTRIAL PRODUCTION
dc.subject INFLATION
dc.subject INFORMAL ECONOMY
dc.subject INFORMAL SECTOR
dc.subject INSTITUTIONAL ARRANGEMENTS
dc.subject INSTITUTIONAL REFORMS
dc.subject INTEREST RATES
dc.subject INTERNATIONAL TRADE
dc.subject INTERNATIONAL TRADE POLICY
dc.subject INVESTMENT CLIMATE
dc.subject INVESTMENT SPENDING
dc.subject LABOR FORCE
dc.subject LABOR MARKET
dc.subject LABOR MARKET FLEXIBILITY
dc.subject LABOR MARKET INSTITUTIONS
dc.subject LABOR MARKET POLICIES
dc.subject LABOR MARKETS
dc.subject LABOR PRODUCTIVITY
dc.subject LABOR SUPPLY
dc.subject LEGAL SYSTEM
dc.subject LEGISLATION
dc.subject LEVEL PLAYING FIELD
dc.subject LIQUIDATION
dc.subject MACROECONOMIC MANAGEMENT
dc.subject MACROECONOMIC POLICY
dc.subject MACROECONOMIC STABILITY
dc.subject MARKET DISCIPLINE
dc.subject MARKET LIBERALIZATION
dc.subject MARKET SHARE
dc.subject MINIMUM WAGE
dc.subject MONETARY POLICY
dc.subject NATIONALS
dc.subject NET INFLOWS
dc.subject POLICY UNCERTAINTY
dc.subject POLITICAL APPOINTMENTS
dc.subject POLITICAL ECONOMY
dc.subject PRIVATIZATION
dc.subject PRODUCTIVITY
dc.subject PROFIT SEEKING
dc.subject PROFITABILITY
dc.subject PROPERTY RIGHTS
dc.subject PROTECTIONISM
dc.subject PROTECTIONIST POLICIES
dc.subject PUBLIC ADMINISTRATION
dc.subject PUBLIC EXPENDITURE
dc.subject PUBLIC EXPENDITURES
dc.subject PUBLIC FINANCE
dc.subject PUBLIC SECTOR
dc.subject PUBLIC SERVICES
dc.subject RATIONALIZATION
dc.subject REAL EXCHANGE RATE
dc.subject REAL GDP
dc.subject REGULATORY FRAMEWORK
dc.subject RESERVE REQUIREMENTS
dc.subject SAVINGS
dc.subject SAVINGS RATES
dc.subject SOCIAL CAPITAL
dc.subject SOCIAL PROGRAMS
dc.subject SOFT BUDGET CONSTRAINTS
dc.subject STATE-OWNED ENTERPRISES
dc.subject TARIFF RATES
dc.subject TARIFF SCHEDULE
dc.subject TAX ADMINISTRATION
dc.subject TAX AUTHORITIES
dc.subject TAX AUTHORITY
dc.subject TAX RATES
dc.subject TAXATION
dc.subject TRADE DATA
dc.subject TRADE FACILITATION
dc.subject TRADE PERFORMANCE
dc.subject TRADE POLICIES
dc.subject TRADE REGIME
dc.subject TRANSITION ECONOMIES
dc.subject UNEMPLOYMENT
dc.subject UNEMPLOYMENT RATE
dc.subject UNSKILLED LABOR
dc.subject WAGE DISTRIBUTION
dc.subject WAGES
dc.subject WORKING CAPITAL
dc.subject WORLD MARKETS
dc.title Bosnia and Herzegovina : Country Economic Memorandum en
dc.title.alternative Bosna i Hercegovina - Ekonomski memorandum za BiH en
dspace.entity.type Publication
okr.date.disclosure 2005-08-08
okr.doctype Economic & Sector Work :: Country Economic Memorandum
okr.doctype Economic & Sector Work
okr.docurl http://documents.worldbank.org/curated/en/2005/05/6085193/bosnia-herzegovina-country-economic-memorandum
okr.identifier.externaldocumentum 000012009_20050722104356
okr.identifier.internaldocumentum 6085193
okr.identifier.report 29500
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/07/22/000012009_20050722104356/Rendered/PDF/295001BA0rev.pdf en
okr.region.administrative Europe and Central Asia
okr.region.country Bosnia and Herzegovina
okr.region.geographical Europe
okr.sector Finance
okr.sector Industry and trade
okr.sector Education
okr.sector Agriculture
okr.sector fishing
okr.sector and forestry
okr.unit Poverty Reduction/Econ Mngmt (ECSPE)
okr.volume 1 of 1
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