Serbia Country Economic Memorandum : Productivity and Exports
In order to have both dynamic and better balanced growth, Serbia needs to rely more on exports. In the last decade, Serbia's growth has depended primarily on demand that was fueled by excessive debt finance. In the future, the Serbian economy...
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| Format: | Brief |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/01/17481691/serbia-country-economic-memorandum-productivity-exports http://hdl.handle.net/10986/17015 |
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okr-10986-170152021-04-23T14:03:33Z Serbia Country Economic Memorandum : Productivity and Exports Sestovic, Lazar Miovic, Peter ADVERSE EFFECTS AGRICULTURE CADASTRE COMPETITIVENESS DEBT ECONOMIC GROWTH ECONOMICS EXPORT GROWTH EXPORT SHARE EXPORT SHARES EXPORTER EXTENSION EXTENSION SERVICES FARMERS FOOD PROCESSING FOREIGN DIRECT INVESTMENT GOVERNMENT REVENUE HIGH UNEMPLOYMENT INCOMES INTEGRATION INVENTORY ISSUANCE LABOR MARKET LAND POLICY LOCAL GOVERNMENTS NONPAYMENT PRICE INCREASES PRIVATE SECTOR PRODUCT QUALITY PRODUCTIVITY PROPERTY RIGHTS R&D SUPPLIERS SUPPLY CHAINS TAX TAX COLLECTION TRADE LIBERALIZATION VALUATION WORLD MARKETS In order to have both dynamic and better balanced growth, Serbia needs to rely more on exports. In the last decade, Serbia's growth has depended primarily on demand that was fueled by excessive debt finance. In the future, the Serbian economy would be better served by increasing its reliance on exports as a new, potentially powerful source of growth. Serbia's export share of Gross Domestic Product (GDP) is currently 25 percent, but that figure should be closer to 50-75 percent, considering that all European Union (EU) comparator countries1 have export shares of GDP of 60-80 percent. Some sectors of the economy are already better positioned than others to export. For example, sectors in the traditional export base of Serbia, such as food and some chemical products still have vast potential for growth. Agriculture is widely considered to have significant potential for improvement. Although Serbia has recently become a net food exporter, these exports could be substantially higher. The Serbian government's number one task is to accelerate reforms to create an environment that is highly conducive to export-led growth. Serbia will need to fundamentally alter its growth model in order to compete effectively in world markets. The past model of relying on excessive inflows of capital and credit coupled with a consumption boom has run its course in all European countries, including Serbia. 2014-02-12T16:09:11Z 2014-02-12T16:09:11Z 2013-01 http://documents.worldbank.org/curated/en/2013/01/17481691/serbia-country-economic-memorandum-productivity-exports http://hdl.handle.net/10986/17015 English en_US Europe and Central Asia knowledge brief;issue no. 63 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Brief Publications & Research Europe and Central Asia Serbia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADVERSE EFFECTS AGRICULTURE CADASTRE COMPETITIVENESS DEBT ECONOMIC GROWTH ECONOMICS EXPORT GROWTH EXPORT SHARE EXPORT SHARES EXPORTER EXTENSION EXTENSION SERVICES FARMERS FOOD PROCESSING FOREIGN DIRECT INVESTMENT GOVERNMENT REVENUE HIGH UNEMPLOYMENT INCOMES INTEGRATION INVENTORY ISSUANCE LABOR MARKET LAND POLICY LOCAL GOVERNMENTS NONPAYMENT PRICE INCREASES PRIVATE SECTOR PRODUCT QUALITY PRODUCTIVITY PROPERTY RIGHTS R&D SUPPLIERS SUPPLY CHAINS TAX TAX COLLECTION TRADE LIBERALIZATION VALUATION WORLD MARKETS |
| spellingShingle |
ADVERSE EFFECTS AGRICULTURE CADASTRE COMPETITIVENESS DEBT ECONOMIC GROWTH ECONOMICS EXPORT GROWTH EXPORT SHARE EXPORT SHARES EXPORTER EXTENSION EXTENSION SERVICES FARMERS FOOD PROCESSING FOREIGN DIRECT INVESTMENT GOVERNMENT REVENUE HIGH UNEMPLOYMENT INCOMES INTEGRATION INVENTORY ISSUANCE LABOR MARKET LAND POLICY LOCAL GOVERNMENTS NONPAYMENT PRICE INCREASES PRIVATE SECTOR PRODUCT QUALITY PRODUCTIVITY PROPERTY RIGHTS R&D SUPPLIERS SUPPLY CHAINS TAX TAX COLLECTION TRADE LIBERALIZATION VALUATION WORLD MARKETS Sestovic, Lazar Miovic, Peter Serbia Country Economic Memorandum : Productivity and Exports |
| geographic_facet |
Europe and Central Asia Serbia |
| relation |
Europe and Central Asia knowledge brief;issue no. 63 |
| description |
In order to have both dynamic and better
balanced growth, Serbia needs to rely more on exports. In
the last decade, Serbia's growth has depended primarily
on demand that was fueled by excessive debt finance. In the
future, the Serbian economy would be better served by
increasing its reliance on exports as a new, potentially
powerful source of growth. Serbia's export share of
Gross Domestic Product (GDP) is currently 25 percent, but
that figure should be closer to 50-75 percent, considering
that all European Union (EU) comparator countries1 have
export shares of GDP of 60-80 percent. Some sectors of the
economy are already better positioned than others to export.
For example, sectors in the traditional export base of
Serbia, such as food and some chemical products still have
vast potential for growth. Agriculture is widely considered
to have significant potential for improvement. Although
Serbia has recently become a net food exporter, these
exports could be substantially higher. The Serbian
government's number one task is to accelerate reforms
to create an environment that is highly conducive to
export-led growth. Serbia will need to fundamentally alter
its growth model in order to compete effectively in world
markets. The past model of relying on excessive inflows of
capital and credit coupled with a consumption boom has run
its course in all European countries, including Serbia. |
| format |
Publications & Research :: Brief |
| author |
Sestovic, Lazar Miovic, Peter |
| author_facet |
Sestovic, Lazar Miovic, Peter |
| author_sort |
Sestovic, Lazar |
| title |
Serbia Country Economic Memorandum : Productivity and Exports |
| title_short |
Serbia Country Economic Memorandum : Productivity and Exports |
| title_full |
Serbia Country Economic Memorandum : Productivity and Exports |
| title_fullStr |
Serbia Country Economic Memorandum : Productivity and Exports |
| title_full_unstemmed |
Serbia Country Economic Memorandum : Productivity and Exports |
| title_sort |
serbia country economic memorandum : productivity and exports |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/01/17481691/serbia-country-economic-memorandum-productivity-exports http://hdl.handle.net/10986/17015 |
| _version_ |
1764435426350727168 |