World Bank2012-03-192012-03-192011-06-10978-0-8213-8800-6https://hdl.handle.net/10986/2316This report takes stock of enterprise sector performance in the Europe and Central Asia (ECA) region and its key drivers: access to finance, infrastructure, and labor. It is the second of two complementary reports that examine selected trends emerging from the Business Environment and Enterprise Performance Survey (BEEPS) data that are of immediate policy relevance to ECA countries. Both reports draw primarily on information from data collected prior to the crisis. This report also uses data on employment and access to finance collected during the crisis in a subset of ECA countries. The global financial crisis has had enormous consequences for firms' access to finance, the availability of qualified workers, and the ability of governments to provide (and of private sector to obtain) reliable infrastructure services. The extent and impact of these constraints is yet to be determined but their presence at a time of economic growth suggests they may re-emerge during the post-crisis economic recovery. The BEEPS captures information on a number of aspects of the business environment. This report highlights the elements of firm finance, labor regulations and skills, and infrastructure that are covered by the BEEPS questionnaire. Where possible, the data are supplemented with data from other sources. The report covers a lot of ground, and several broad findings from the analyses stand out.CC BY 3.0 IGOACCESS TO CAPITALACCESS TO CREDITACCESS TO EXTERNAL FINANCEACCESS TO FINANCEACCESS TO FINANCIAL SERVICESACCESS TO FINANCINGACCESSIBILITYACCOUNTINGADMINISTRATIVE REFORMSAFFILIATESBALANCE OF PAYMENTSBANK CLAIMSBANK LENDINGBANK LOANSBANKING CRISISBANKING MARKETSBANKING SECTORBANKING SECTOR ASSETSBANKING SECTORSBANKING SYSTEMBANKING SYSTEMSBANKRUPTCYBORROWERBORROWINGBRAIN DRAINBUSINESS ACTIVITYBUSINESS ENTERPRISESBUSINESS ENVIRONMENTCAPITAL FLOWSCAPITAL INFLOWSCENTRAL BANKSCOLLATERALCOLLATERAL REQUIREMENTSCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERCORRUPTIONCREDIT CRUNCHCREDIT EXPANSIONCREDIT GROWTHCREDIT INSTITUTIONSCREDIT MARKETSCREDIT RELATIONSHIPSCRISIS LENDINGCROSS-BORDER FLOWSCURRENCY COMPOSITIONCURRENCY MISMATCHESCURRENCY UNITSCURRENT ACCOUNTCURRENT ACCOUNT DEFICITCURRENT ACCOUNT DEFICITSDEBTDEBT SECURITIESDEFICITSDEPENDENTDEPOSITDEPOSITSDEVALUATIONSDEVELOPING COUNTRIESDISPARITIES IN ACCESSDOMESTIC BANKSECONOMIC ACTIVITYECONOMIC CONDITIONSECONOMIC DEVELOPMENTSECONOMIC GROWTHEDUCATION SYSTEMSEFFECTIVE GOVERNANCEEMPLOYMENTENTERPRISE GROWTHENTERPRISE OPERATIONENTERPRISE PERFORMANCEEXCHANGE RATEEXCHANGE RATE REGIMEEXCHANGE RATESEXTERNAL BORROWINGEXTERNAL FINANCEEXTERNAL FINANCINGEXTERNAL FUNDINGEXTERNAL FUNDSFINANCESFINANCIAL ACCESSFINANCIAL CAPITALFINANCIAL CONSTRAINTSFINANCIAL CRISESFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL RESOURCESFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTSFINANCIAL SERVICESFINANCIAL SYSTEMFINANCING CONSTRAINTSFINANCING COSTSFIRM FINANCINGFIRM PERFORMANCEFISCAL BALANCESFISCAL RESOURCESFIXED EXCHANGE RATEFIXED EXCHANGE RATESFLOATING EXCHANGE RATEFOREIGN BANKFOREIGN BANK PARTICIPATIONFOREIGN BANKSFOREIGN CAPITALFOREIGN CLAIMSFOREIGN CURRENCYFOREIGN DEBTFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN INVESTMENTFOREIGN INVESTORSFOREIGN OWNERSHIPGOOD GOVERNANCEGOVERNANCE INDICATORSGOVERNMENT REGULATIONGREATER ACCESSGROSS DOMESTIC PRODUCTHOST COUNTRIESHOST COUNTRYHOUSINGHUMAN CAPITALINCOMEINCOME LEVELSINFLATIONINFORMATION TECHNOLOGYINFORMATIONAL ASYMMETRIESINSOLVENCYINSOLVENTINSTITUTIONAL DEVELOPMENTINSTRUMENTINTEREST RATESINTERNATIONAL BANKINTERNATIONAL BANKSINTERNATIONAL FINANCIAL MARKETSINTERNATIONAL MARKETSINTERNATIONAL SETTLEMENTSINVESTMENT CLIMATEJOB CREATIONJOB OPPORTUNITIESJUDGEMENTLABOR FORCELABOR MARKETLABOR MARKETSLARGE FIRMSLEGAL CODELEGAL ORIGINLEGISLATIONLENDERLENDERSLENDING POLICIESLEVERAGELIMITED ACCESSLOANLOAN APPLICATIONSLOAN DEMANDLOCAL CURRENCYLOCAL GOVERNMENTMARKET CONDITIONSMARKET DEVELOPMENTSMARKET REFORMMATURITIESMIGRANT WORKERSMIGRATIONMONETARY FUNDMORTGAGEMORTGAGE MARKETMULTINATIONALMULTINATIONAL BANKMULTINATIONAL BANKSOBSTACLES TO FINANCEOUTREACHOVERDRAFTOVERDRAFT FACILITIESOVERDRAFTSPHYSICAL CAPITALPOST-CRISIS PERIODPOWER OUTAGEPOWER OUTAGESPRIVATE BANKSPRIVATE CAPITALPRIVATE INVESTMENTPRODUCTIVITYPROFIT OPPORTUNITIESPROFITABILITYPROPERTY RIGHTSPROTECTION OF PROPERTYPRUDENTIAL REQUIREMENTSREAL SECTORRECESSIONRECOVERY PERIODREGULATORY FRAMEWORKSREGULATORY REFORMSSALES GROWTHSALES REVENUESHORT-TERM LENDINGSTART-UPSSTATISTICAL ANALYSISSUBSIDIARIESSUBSIDIARYSUPPLY OF FINANCINGSYSTEMIC BANKING CRISISSYSTEMIC CRISESSYSTEMIC CRISISTAXTAX ADMINISTRATIONTAX RATESTELECOMMUNICATIONSTRADINGTRANSPORTUNEMPLOYMENTUNIONWAGE GROWTHWAGESWHOLESALE FUNDINGWORKING CAPITALWorld Bank10.1596/978-0-8213-8800-6