Publication: Rebalancing Serbia's Economy : Improving Competitiveness, Strengthening the Private Sector, and Creating Jobs
Loading...
Published
2014-06
ISSN
Date
2014-12-17
Author(s)
Editor(s)
Abstract
Serbia's economy is out of balance and performing below its potential. Since the post, Yugoslavian transition, Serbia's economy has been running on one engine, the non-tradable sector and expansion of domestic demand. This was financed with ample capital inflows, which were sharply reduced since 2008 as the global economic crisis escalated. While this consumption-led growth produced some improvements in living standards, it was not sustainable and created hardly any formal jobs. This explains why Serbia's job market is also out of balance. Less than half of the working-age population has a job at all, and among those that are formally employed, almost half are employed in the public sector. This note identifies three priority areas and a set of specific measures which complement other important reforms, especially those related to improving the country's macroeconomic and fiscal position. The reforms will make it easier to invest, operate a business, and create jobs. The measures could be implemented within a relatively short period of time, since many of them build on the existing initiatives and address well identified problems. Priority area one, making it easier to operate businesses, by reducing excessive administrative burdens and making regulatory environment predictable; priority area two, making it easier to invest and expand business, by improving planning and construction permits procedures; and priority area three, making it viable to create formal sector jobs, by reducing labor market costs and rigidities.
Link to Data Set
Citation
“World Bank Group. 2014. Rebalancing Serbia's Economy : Improving Competitiveness, Strengthening the Private Sector, and Creating Jobs. © http://hdl.handle.net/10986/20753 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Turkey - Country Economic Memorandum Informality : Causes, Consequences, Policies(World Bank, 2010-03-02)Informality in Turkey, using various definitions, and despite the signs of a recent decline in certain segments of the economy, is widespread. The level of informality is not excessively high, however, taking into account Turkey's level of income. While firm non-registration is not very common, underreporting of revenues and wages and non-registration of workers with the social security system are more prevalent. This report argues that success in reducing informality requires an integrated policy response. While no single 'sufficient' policy tool will be likely to increase formalization significantly, a combination of policies may move the economy to a new equilibrium with higher formalization. The report discusses the need to strengthen auditing capacity, effectiveness and targeting, to ease labor market regulations, and to communicate effectively with the public on the costs of informality and the benefits of formalization. This report is organized in six chapters. The second chapter introduces definitions and the conceptual framework for the analysis conducted. The third chapter provides a portrait of informality in Turkey, outlines certain issues of measurement, and presents the main trends using various decompositions. The fourth and fifth chapters discuss the costs (consequences) and the causes of informality, respectively, with a specific focus on informal employment. The final chapter presents a suggested integrated policy approach to reduce informality and provides concluding remarks.Publication Cambodia - A Better Investment Climate to Sustain Growth : Second Investment Climate Assessment(World Bank, 2009-04-01)The objectives of this Investment Climate Assessment (ICA) are to: (i) provide an up-to-date, fact-based analysis of the business environment for policy-makers in the Royal Government of Cambodia (RGC), the private sector, civil society, and development partners; and (ii) outline priorities for improving the business environment and suggest policy options. The body of this report is comprised of three chapters. Chapter one gives a picture of the private sector in Cambodia in early 2008, including its structure, main features, and overall performance across key sectors and nationwide. The sectors featured are: garments, food packaging, telecoms, and finance. Chapter two reviews the business environment, starting with existing firms' perceptions of the business environment, and then goes into more depth on each dimension. The chapter concludes by discussing which of these challenges are truly binding constraints on growth. Chapter three, after taking stock of on-going reform efforts, concludes with some key directions for reform and a few concrete policy options for the short and medium term.Publication Investment Climate Assessment : Enterprises' Perception in Post Revolution Tunisia(Washington, DC, 2014-02)Located in the heart of the North African coastline, adjacent to vital shipping channels connecting Europe and Asia, Tunisia has long been a regional economic influence in the Middle East and North Africa. Although socialist policies dominated the Tunisian economy throughout the latter half of the 20th century, Tunisia has re-focused its economic strategy on key indicators such as foreign investment, domestic job creation, exports and tourism. These have become the backbone of the Tunisian economy and have helped strengthen relationships with primary trading partners in the European Union. Exports such as textiles, computer arts and petrochemicals now account for a significant portion of the Tunisian economy. This liberal economic development strategy created years of stable annual growth and improved living standards well into the 2000s. However, this growth was unequal due to a culture of corruption and cronyism that reached its height during the era of former President Zine el Abidine Ben Ali from 1987 through 2011. Years of progressive economic growth were stymied by rising unemployment and government waste. Discontent for the Ben Ali government boiled over in January 2011 with a revolution to overthrow the president, ruling party and Parliament. In the ensuing months of uncertainty, declines in tourism and investment contributed to an overall economic decline that lasted throughout much of the year. The political climate also remained uncertain as Tunisians worked to form a new coalition government and transition into a democratic system.Publication Connecting to Work : How Information and Communication Technologies Could Help Expand Employment Opportunities(World Bank, Washington, DC, 2013-09)Information and communication technology (ICT) has grown as a sector and now employs millions of people worldwide. The proliferation of ICTs has also helped digitize how people find and do work. The world will need to create over 600 million jobs by 2030 for unemployment to remain at current levels. ICT-enabled employment may help address some of this problem both by creating jobs in the ICT sector and by helping to make labor markets more inclusive, innovative, flexible, and transparent. What can governments do to prepare for these changes and maximize employment opportunities? This paper is a first step in an effort by the World Bank to understand how ICTs are shaping, changing, and transforming labor markets. It explores how governments and other stakeholders might respond to leverage the growth of ICTs to help increase employment opportunities. This paper is structured as follows: section 1 serves as an introduction; section 2 defines the scope, focusing on the types of employment opportunities due to ICT as a sector and as a tool; section 3 considers the impact of the ICT sector on software programming, IT services, and telecommunications; section 4 describes how ICTs as tools empower and include more workers in labor markets; section 5 analyzes the challenges and risks that appear alongside these opportunities; section 6 discusses human capital, infrastructure, financial, regulatory, and social systems that will enable ICT in employment; and section 7 identifies strategic themes for governments to consider as they maximize the gains from ICT's increasing role in the world of work.Publication The Challenge of Youth Employment in Sri Lanka(World Bank, 2010)Sri Lanka has been regarded as a model of a country with successful social policies, yet for decades it has faced major challenges in providing employment and satisfying other aspirations of youth. Although the labor force has become more educated, and this trend is particularly marked for youth, the main source of employment for both youth and adults remains the informal sector. Moreover, the importance of the informal sector as a source of employment has increased since the mid-1990s. On the positive side, unemployment declined in last decades, particularly for youth. The Sri Lankan government has continually acted on various fronts to address the youth unemployment problem. It has tried to improve and modernize Sri Lanka's general education system, which has long been criticized as too academic, and to increase the accessibility of training so as to promote the employability youth leaving school. Other actions included strengthening entrepreneurship programs and introducing career guidance and counseling and improving labor market information to help young people in their job searches and to guide human resource planning. In 2007, the government developed the National Action Plan for youth employment, built, for the first time, on a coherent youth employment policy framework and deriving an encompassing and consistent set of policy recommendations. The plan was based on in-depth analysis of Sri Lanka's labor market, provided via a series of background papers undertaken under the auspices of the Youth Employment Network (YEN). To provide the richness and comprehensiveness of this analysis in its totality, these papers, updated and revised, are collected in the present book. This book offers a wealth of valuable advice to the government and other stakeholders to achieve this goal. By exploiting the full potential of the youth, not only will their talent, aspirations, and energy be harnessed to advance economic growth, but also the existing inequities will be reduced and, hopefully in the longer run, eliminated.
Users also downloaded
Showing related downloaded files
Publication Lebanon Economic Monitor, Fall 2022(Washington, DC, 2022-11)The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Digital Africa(Washington, DC: World Bank, 2023-03-13)All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.