Description: Serbia - Country Economic Memorandum : The Road to Prosperity - Productivity and Exports, Volume 2. Main Report

Serbia - Country Economic Memorandum : The Road to Prosperity - Productivity and Exports, Volume 2. Main Report

This report looks beyond the current global financial crisis to the restoration of dynamic long-run growth in Serbia. The answer in this report is that Serbia will need to fundamentally alter its growth model to compete effectively in world markets...

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Bibliographic Details
Main Author:	World Bank
Language:	English
Published:	World Bank 2012
Subjects:	ADVANCED ECONOMIES ADVERSE EFFECTS AGGREGATE DEMAND AGRICULTURE ANNUAL GROWTH ASSET MANAGEMENT ASSETS AUCTIONS BALANCE OF PAYMENTS BALANCE SHEETS BANKING SECTORS BASIC METALS BILATERAL TRADE BILATERAL TRADE DATA BUFFER CADASTRE CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKETS COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITION POLICY COMPETITIVENESS CONSOLIDATION CONSUMER PROTECTION COST ANALYSIS CREDIT BOOM CREDIT FLOWS CREDIT GROWTH CREDITORS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEBT RELIEF DEFICITS DEREGULATION DEVELOPING COUNTRIES DOMESTIC CONSUMPTION DOMESTIC DEMAND DOMESTIC SAVING ECONOMETRIC ANALYSIS ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC ENVIRONMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC STRUCTURE ELASTICITY ELECTRICITY DEMAND EMERGING ECONOMIES EMERGING MARKET ECONOMIES ENERGY CONSUMPTION ENERGY EFFICIENCY ENVIRONMENTS EXPANSION OF EXPORTS EXPENDITURES EXPORT CAPACITY EXPORT DIVERSIFICATION EXPORT GROWTH EXPORT GROWTH RATE EXPORT GROWTH RATES EXPORT PERFORMANCE EXPORT SHARES EXPORTER EXPORTERS EXPORTS EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL POSITION FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FISCAL DISCIPLINE FISCAL POLICY FISH FIXED COSTS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INTEREST FOREIGN INTEREST RATES FOREIGN INVESTMENT FOREIGN MARKETS FREE TRADE FREE TRADE AGREEMENTS GDP PER CAPITA GLOBAL INTEREST GLOBAL MARKETS GLOBAL TRADE GOVERNMENT POLICIES GOVERNMENT REVENUE GOVERNMENT REVENUES GROWTH PERFORMANCE GROWTH RATE GROWTH RATES HIGH UNEMPLOYMENT HUMAN CAPITAL HUMAN DEVELOPMENT IMBALANCES IMPORT IMPORTS INCOME GROWTH INCREASING RETURNS INFLATION INTEREST PAYMENTS INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL MARKETS INVENTORY INVESTMENT CLIMATE INVESTMENT CLIMATES INVESTMENT DEMAND INVESTMENT RATES INVESTMENT REQUIREMENTS ISSUANCE LABOR COSTS LABOR FORCE LABOR MARKET LABOR MARKETS LABOR PRODUCTIVITY LAND POLICY LAND USE LEVEL OF INVESTMENT LIQUIDITY LIQUIDITY PROBLEM LIVING STANDARDS LOCAL BUSINESS LOCAL CURRENCY MACROECONOMIC ENVIRONMENT MACROECONOMIC STABILITY MARGINAL PRODUCTS MARKET ECONOMIES MARKET ECONOMY METALS MONETARY CONDITIONS MONETARY POLICY NATIONAL BANK NATIONAL BANKS NET EXPORTS NONPAYMENT OIL OPPORTUNITY COST POLICY MAKERS POLITICAL ECONOMY PORTFOLIO POVERTY LEVELS PRICE INCREASES PRIVATE CONSUMPTION PRIVATE DEBT PRIVATE INVESTORS PRIVATE SECTOR DEBT PRODUCTION PROCESSES PROPERTY RIGHTS PROPERTY VALUES PUBLIC ASSETS PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC EXTERNAL DEBT PUBLIC GOODS PUBLIC SPENDING QUALITY STANDARDS RAPID GROWTH RATE OF GROWTH RATES FOR EXPORTS REAL APPRECIATION REAL EFFECTIVE EXCHANGE RATE REAL EXCHANGE RATE REAL GDP RECESSION REGIONAL MARKETS REGIONAL TRADE ARRANGEMENTS REGULATORY BARRIERS REGULATORY FRAMEWORK REGULATORY REFORM RELATIVE PRICES RETURN SAFETY NET SCALE EFFECT SECTOR REFORM STABLE GROWTH STRUCTURAL REFORMS SUPPLY SIDE SURPLUS SUSTAINABLE GROWTH TARIFF BARRIERS TARIFF POLICY TAX TAX COLLECTION TAX RATES TELECOMMUNICATIONS TOTAL EXPORTS TOTAL FACTOR PRODUCTIVITY TRADE AGREEMENT TRADE BALANCE TRADE BALANCES TRADE BARRIERS TRADE DEFICIT TRADE FACILITATION TRADE INTEGRATION TRADE LIBERALIZATION TRADE OPENNESS TRADE PERFORMANCE TRADE POLICY TRADE REGIME TRADE RELATIONS TRADING TRADING PARTNERS TRANSITION COUNTRIES TRANSITION ECONOMIES TRANSPARENCY TREATY UNEMPLOYMENT UNEMPLOYMENT RATE VALUATION VALUATION SYSTEM VALUE ADDED WORLD MARKET WORLD MARKETS WORLD TRADE WTO
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000020953_20120302093229 http://hdl.handle.net/10986/2830

Description
Summary:	This report looks beyond the current global financial crisis to the restoration of dynamic long-run growth in Serbia. The answer in this report is that Serbia will need to fundamentally alter its growth model to compete effectively in world markets. The past model relying on excessive inflows of capital and credit that, in part, fuelled a consumption boom has run its course in all European countries. Serbia must shift to a greater export orientation so that it can attain the major gains in productivity and competitiveness necessary to propel economic growth to a much higher trajectory. This cannot happen without an explicit export strategy, and a set of concomitant structural reforms, driven by commitment and coordination at the highest political level. This report tries to pinpoint policy actions that would be most effective in raising the rate of productivity growth of Serbia s enterprises so that better export performance and sustained growth could be achieved. The report has three parts. Part I reviews Serbia s macroeconomic situation and its progress on structural reforms. Part II starts with a review of the current status of Serbia s exports and trade policy and regional trade arrangements. It then uses product space (PS) analysis to examine areas where Serbia has a revealed or potential comparative advantage. The report then moves on to two such areas, metal processing and automobile production, which are subjected to value chain analysis to identify bottlenecks that need to be removed for Serbia to become a successful producer and exporter in these areas. The final part of the report looks at obstacles to more rapid and sustainable development of production and exports. It starts with the analysis of the business environment, based on a range of surveys, which is followed by four sectoral chapters that discuss the obstacles found to be most binding in the business environment: labor skills, power supply and efficiency of its use, use of land, and trade facilitation.

Serbia - Country Economic Memorandum : The Road to Prosperity - Productivity and Exports, Volume 2. Main Report

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