Institutional Reform for Investment and Growth in South Eastern Europe
This study analyses the institutional impediments to investment and growth in SEE and suggests ‘second generation’ policy reforms to ease these constraints. Chapter one reviews the recent trends in the economies of the eight countries that comprise...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/960451486542399588/Institutional-reform-for-investment-and-growth-in-South-Eastern-Europe http://hdl.handle.net/10986/26037 |
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okr-10986-260372021-04-23T14:04:33Z Institutional Reform for Investment and Growth in South Eastern Europe Broadman, Harry Anderson, Jim Claessens, Stijn Ryterman, Randi Slavova, Stefka Vagliasindi, Maria Vincelette, Gallina investment climate institutional reforms business environment competition policy corporate governance infrastructure utilities access to finance transparency accountability dispute resolution This study analyses the institutional impediments to investment and growth in SEE and suggests ‘second generation’ policy reforms to ease these constraints. Chapter one reviews the recent trends in the economies of the eight countries that comprise the region (SEE8) and their prospects for international and intra-regional integration. It conveys the message that a favorable institutional framework for domestic and foreign investment is essential to achieve sustainable growth in SEE. The chapter presents the scope, methodology, and the approach the study undertakes for assessing the role of key market institutions in SEE business development. The analysis utilizes not only traditional, official data from the eight countries to assess the characteristics, trends and relationships between these institutions, but also employs data from a set of 40 original enterprise-level business case studies carried out in each of the eight countries and the two rounds of the Business Environment and Enterprise Performance Survey (BEEPS) conducted in 1999 and 2002. The study focuses on four institutions that relate fundamentally to the efficient operation of market incentives in an economy: (i) inter-enterprise competition and economic barriers to entry/exit, (ii) access to (regulated) utilities and infrastructure services, (iii) corporate governance, financial transparency and access to finance, and (iv) commercial dispute resolution. The methodological tools employed in the analysis investigate these institutions systematically across the eight SEE countries to allow for cross-country and cross-sectoral comparisons, and to develop a regional as well as a country-specific perspective on corresponding policy challenges. Chapter two presents an overview assessment of each of the four core issues of this study. It reviews in the aggregate the business environment in the eight countries, based on BEEPS (1 and 2) and the EBRD transition indicators. The remaining sections of this overview present a summary of the main findings of each of the four core chapters of the study: competition, regulated infrastructure utilities, corporate governance and finance, and commercial dispute resolution. 2017-02-13T19:47:27Z 2017-02-13T19:47:27Z 2003 Working Paper http://documents.worldbank.org/curated/en/960451486542399588/Institutional-reform-for-investment-and-growth-in-South-Eastern-Europe http://hdl.handle.net/10986/26037 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Europe and Central Asia Eastern Europe |
| 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 |
investment climate institutional reforms business environment competition policy corporate governance infrastructure utilities access to finance transparency accountability dispute resolution |
| spellingShingle |
investment climate institutional reforms business environment competition policy corporate governance infrastructure utilities access to finance transparency accountability dispute resolution Broadman, Harry Anderson, Jim Claessens, Stijn Ryterman, Randi Slavova, Stefka Vagliasindi, Maria Vincelette, Gallina Institutional Reform for Investment and Growth in South Eastern Europe |
| geographic_facet |
Europe and Central Asia Eastern Europe |
| description |
This study analyses the institutional
impediments to investment and growth in SEE and suggests
‘second generation’ policy reforms to ease these
constraints. Chapter one reviews the recent trends in the
economies of the eight countries that comprise the region
(SEE8) and their prospects for international and
intra-regional integration. It conveys the message that a
favorable institutional framework for domestic and foreign
investment is essential to achieve sustainable growth in
SEE. The chapter presents the scope, methodology, and the
approach the study undertakes for assessing the role of key
market institutions in SEE business development. The
analysis utilizes not only traditional, official data from
the eight countries to assess the characteristics, trends
and relationships between these institutions, but also
employs data from a set of 40 original enterprise-level
business case studies carried out in each of the eight
countries and the two rounds of the Business Environment and
Enterprise Performance Survey (BEEPS) conducted in 1999 and
2002. The study focuses on four institutions that relate
fundamentally to the efficient operation of market
incentives in an economy: (i) inter-enterprise competition
and economic barriers to entry/exit, (ii) access to
(regulated) utilities and infrastructure services, (iii)
corporate governance, financial transparency and access to
finance, and (iv) commercial dispute resolution. The
methodological tools employed in the analysis investigate
these institutions systematically across the eight SEE
countries to allow for cross-country and cross-sectoral
comparisons, and to develop a regional as well as a
country-specific perspective on corresponding policy
challenges. Chapter two presents an overview assessment of
each of the four core issues of this study. It reviews in
the aggregate the business environment in the eight
countries, based on BEEPS (1 and 2) and the EBRD transition
indicators. The remaining sections of this overview present
a summary of the main findings of each of the four core
chapters of the study: competition, regulated infrastructure
utilities, corporate governance and finance, and commercial
dispute resolution. |
| format |
Working Paper |
| author |
Broadman, Harry Anderson, Jim Claessens, Stijn Ryterman, Randi Slavova, Stefka Vagliasindi, Maria Vincelette, Gallina |
| author_facet |
Broadman, Harry Anderson, Jim Claessens, Stijn Ryterman, Randi Slavova, Stefka Vagliasindi, Maria Vincelette, Gallina |
| author_sort |
Broadman, Harry |
| title |
Institutional Reform for Investment and Growth in South Eastern Europe |
| title_short |
Institutional Reform for Investment and Growth in South Eastern Europe |
| title_full |
Institutional Reform for Investment and Growth in South Eastern Europe |
| title_fullStr |
Institutional Reform for Investment and Growth in South Eastern Europe |
| title_full_unstemmed |
Institutional Reform for Investment and Growth in South Eastern Europe |
| title_sort |
institutional reform for investment and growth in south eastern europe |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/960451486542399588/Institutional-reform-for-investment-and-growth-in-South-Eastern-Europe http://hdl.handle.net/10986/26037 |
| _version_ |
1764460780417187840 |