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Economic Memorandum (Multimedia)

Serbia - SEM

Lead Author: Ardo Hansson
December 2004

Since restarting its transition to a market economy in late-2000, Serbia has made good initial progress across a range of areas.
However, deep structural weaknesses remain. Moreover, the positive elements of Serbia’s recent performance are not sustainable without further adjustment and sustained reform.

Report Summary [ pdf ]

Complete Report [ pdf ]

Introduction

This report aims to identify key obstacles to economic growth and employment generation in Serbia with the objective of determining how policies and institutions can best be improved .

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Ensuring a Conducive Macroeconomic Environment

In light of the strong links between sound macroeconomic policy and growth, this chapter discusses the key macroeconomic policy priorities needed to put Serbia on a sustainable growth path.

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International Trade and Regional Integration

This chapter aims at providing a better understanding of Serbia’s trade performance and factors affecting its exports growth. It identifies key constraints to export growth and discusses how regional and global integration could contribute to unleashing Serbia’s export potential.

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Private and Financial Sector Reform

The main objectives of this chapter are to provide an up-to-date snapshot of the Serbian enterprise and financial sector; identify remaining constraints that prevent the enterprise and financial sector from fully contributing to growth and employment creation; and provide policy recommendations to the Serbian authorities concerning priorities in private and financial sector reform.

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Labor Markets

The objectives of this chapter are to analyze the recent performance of Serbia’s labor market and to identify policy measures that would improve its functioning as a means of promoting economic growth and employment generation.

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Education and Training

This chapter looks at the extent to which the education and training system in Serbia is able to provide individuals with the skills and knowledge that they need in order to be successful in the labor market, both now and in the future.

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Lead author Ardo Hansson discusses the report's findings.
1) Serbia faces four key challenges to economic growth.
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 Audio Only 
2) Serbia cannot continue with business as usual; it must accelerate reforms to prevent economic vulnerability.
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3) The World Bank provides Serbia with policy-based lending that helps ensure the recommended reforms are enacted.
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4) In order to further integrate into the regional and global economy, Serbia must continue to work on 3 main areas.
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The main report findings and conclusions are summarized in these few slides. 
 Launch Slideshow 



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