World Bank2012-06-142012-06-142007-01https://hdl.handle.net/10986/8013This Country Economic Memorandum subscribes to the overall direction of the reform program mapped out by this body of work and it goes deeper in three important areas: (1) public sector management, (2) labor markets and education and (3) science and technology policy. Chapters 2-4 of this report, each one largely self-contained, cover these topics in order. First, however, Chapter 1 gives the context for the transition now underway with an overview of past and present development focusing on the transformation of the economy from factor-intensive to skill- and knowledge-intensive development. Then a forward-looking section offers a medium-term forecast for the economy's emergence from the recent slowdown and discusses prospects for longer-term (potential) growth.en-USCC BY 3.0 IGOACTIVE LABORACTIVE LABOR MARKETACTIVE LABOR MARKET PROGRAMAGRICULTUREAVERAGE UNEMPLOYMENTAVERAGE UNEMPLOYMENT RATEBENCHMARKINGBENCHMARKSBUDGET PROCESSBUSINESS PROCESS OUTSOURCINGBUSINESS SERVICESCITIZENSCOLLABORATIONCOLLECTIVE BARGAININGCOMMUNICATION TECHNOLOGYCOMPETITIVE ADVANTAGESCOMPETITIVENESSCOST EFFECTIVENESSDEBTDEBT SERVICEDEFICITSDEMOGRAPHIC TRANSITIONDEMOGRAPHIC TRENDSDEVELOPMENT ECONOMICSDEVELOPMENT GOALSDEVELOPMENT STRATEGYDRIVERSE-GOVERNMENTECONOMIC PERFORMANCEEDUCATIONEDUCATIONAL ATTAINMENTEDUCATIONAL QUALIFICATIONSELECTRICITYEMPLOYMENT GROWTHEXCHANGE RATEEXPORT MARKETSEXPORTSEXTERNALITIESFEMALE LABORFEMALE LABOR FORCEFERTILITYFISCAL DISCIPLINEFISCAL MANAGEMENTFISCAL PERFORMANCEFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGE RESERVESFOREIGN WORKERSGDPGOVERNMENT DEBTGROSS DOMESTIC PRODUCTGROSS FIXED CAPITAL FORMATIONGROSS NATIONAL INCOMEGROWTH RATEHEALTHHUMAN CAPITALHUMAN RESOURCEIMMIGRATIONIMMUNIZATIONIMPACT OF EDUCATIONINCOME SUPPORTINDUSTRIAL DEVELOPMENTINDUSTRIAL RELATIONSINEFFICIENCYINFLATIONINFORMAL SECTORINTENSIVE GROWTHINTERNATIONAL LABOR ORGANIZATIONINTERNATIONAL TRADEJOB SEARCHJOB SEARCH ASSISTANCEJOBSKNOWLEDGE ECONOMYLABOR CONTRACTSLABOR DEMANDLABOR FORCELABOR FORCE PARTICIPATIONLABOR MARKETLABOR MARKET INDICATORSLABOR MARKET INSTITUTIONSLABOR MARKET OUTCOMESLABOR MARKET PERFORMANCELABOR MARKET POLICIESLABOR MARKETSLABOR MOBILITYLABOR ORGANIZATIONLABOR REGULATIONLABOR SHORTAGESLABOR SUPPLYLABORERSLICENSESLIFE EXPECTANCYLIVE BIRTHSMACROECONOMIC ADJUSTMENTMACROECONOMIC STABILITYMARKET WAGESMEDICAL SERVICESMEDIUM TERM EXPENDITURE FRAMEWORKMIDDLE INCOME COUNTRYMINIMUM WAGEMODERNIZATIONMORTALITYMORTALITY RATENATIONAL INCOMENATIONAL PRIORITIESPER CAPITA INCOMEPER CAPITA INCOMESPOLICY FRAMEWORKPOLICY IMPLICATIONSPOLITICAL PROCESSPOPULAR SUPPORTPOPULATION GROWTHPOVERTY REDUCTIONPRESENT VALUEPRIMARY EDUCATIONPRIVATE PARTNERSHIPPRIVATE SECTORPRODUCTIVITY GROWTHPROGRAMSPROGRESSPROPERTY RIGHTSPROVISIONSPUBLICPUBLIC DEBTPUBLIC GOODPUBLIC GOODSPUBLIC INVESTMENTPUBLIC INVESTMENTSPUBLIC SECTORPUBLIC SECTOR EFFICIENCYPUBLIC SECTOR EMPLOYMENTPUBLIC SECTOR MANAGEMENTPUBLIC SECTOR PERFORMANCERATE OF GROWTHREAL WAGESREGULATORY FRAMEWORKRENT SEEKINGRESOURCE CONSTRAINTSSAFETY NETSSAVINGSSERVANTSSKILLED WORKERSSOCIAL SECURITYSPECIFIC INCENTIVESSTRUCTURAL UNEMPLOYMENTSUPPLY SHORTAGESTAXTAX EXPENDITURESTECHNOLOGY TRANSFERTELECOMMUNICATIONSTERTIARY EDUCATIONTERTIARY LEVELSTOLERANCETOTAL FACTOR PRODUCTIVITYTRANSPARENCYTREATIESUNEMPLOYEDUNEMPLOYMENTUNEMPLOYMENT RATEUNFPAVALUE ADDEDVOCATIONAL TRAININGVULNERABILITYWAGE BILLWAGE SUBSIDIESWORK FORCEWORKERSWORKFORCEWORKING CONDITIONSWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/8013