Moldova - After the Global Crisis : Promoting Competitiveness and Shared Growth

This report argues that in the future Moldova will need to develop a second engine of growth from exports of goods and services. We argue that Moldova needs to resurrect agro-based exports, to raise their value by exporting to higher value markets,...

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Bibliographic Details
Main Author:	World Bank
Format:	Other Poverty Study
Language:	English
Published:	World Bank 2012
Subjects:	ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING ACCRUALS AGRICULTURAL PRODUCTS AGRICULTURE ASSET MANAGEMENT BANK FINANCING BANKING SECTOR BANKS BINDING CONSTRAINT BUDGET DEFICIT BUDGET SURPLUSES BUDGETING CADASTRE CAPITAL BUDGETING CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL MARKETS COMPARATIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVENESS CONSOLIDATION CONSUMERS CONSUMPTION EXPENDITURE CORPORATE GOVERNANCE COST OF CAPITAL COST-BENEFIT ANALYSES CROSS SUBSIDIES CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEVALUATION DEVELOPMENT POLICY DISINFLATION DISPOSABLE INCOME DIVERSIFICATION DOMESTIC MARKET DOMESTIC PRODUCTS DURABLE DURABLE GOODS ECONOMIC ACTIVITY ECONOMIC CONCENTRATION ECONOMIC DEVELOPMENTS ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIES OF SCALE EDUCATION LEVEL EDUCATION SYSTEM ELASTICITY EMERGING MARKETS EMPLOYERS EMPLOYMENT GROWTH ENTERPRISE PERFORMANCE EQUIPMENT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORTERS EXPORTS EXPROPRIATION FARMERS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL DEFICIT FISCAL POLICY FISHING FIXED CAPITAL FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INFLOWS FOREIGN INTERESTS FOREIGN INVESTMENT FOREIGN INVESTORS GDP GLOBAL CAPITAL GLOBAL CAPITAL MARKET GLOBAL ECONOMY GLOBAL TRADE GNP GOVERNMENT EXPENDITURE GOVERNMENT REGULATIONS GOVERNMENT SPENDING GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS NATIONAL PRODUCT GROWTH POTENTIAL HOLDING HOST COUNTRIES HOUSING HUMAN CAPITAL INDEBTEDNESS INDEXATION INFORMATION ON BORROWERS INFRASTRUCTURE INVESTMENTS INHERITANCE INPUT USE INSURANCE INSURANCE PRODUCTS INTELLECTUAL PROPERTY INTERNATIONAL CAPITAL INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL CRISIS INTERNATIONAL RESERVES INVESTING INVESTMENT CLIMATE INVESTMENT PROJECTS JOB CREATION JUDICIAL SYSTEM LABOR FORCE LABOR FORCE PARTICIPATION LABOR FORCE SURVEY LABOR MARKET LABOR PRODUCTIVITY LACK OF COMPETITION LAND PRODUCTIVITY LAWS LEGISLATION LEGISLATIVE FRAMEWORK LOAN LOCAL ECONOMY MACROECONOMIC MANAGEMENT MARKET ACCESS MARKET DEVELOPMENT MARKET ECONOMIES MARKET PARTICIPANTS MARKET PLAYERS MARKET SHARE MICRO DATA MIGRATION MONETARY AUTHORITIES MONETARY FUND MONOPOLIES MORTGAGES NATIONAL BANK NET EXPORTS NET LOSS NEW ENTRANTS NON-PERFORMING LOAN NPL OPEN ECONOMY PAYMENT SYSTEM PENSION PENSION REFORM PENSION SYSTEM PENSIONS POLICY RESPONSE PRICE INCREASES PRIVATE CONSUMPTION PRIVATE INVESTMENT PRIVATIZATION PRODUCERS PRODUCTIVE INVESTMENTS PRODUCTIVITY GROWTH PROFITABILITY PROPERTY RIGHTS PUBLIC BUDGET PUBLIC POLICY PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER QUALITY STANDARDS QUOTAS REAL EXCHANGE RATE REAL GDP REAL PRICES REAL SECTOR REAL WAGES REGULATORY PRACTICES REMITTANCE REMITTANCES RESERVES RETIREMENT RETURN RETURNS RISK AVERSION SAVINGS SAVINGS INSTRUMENTS SHARE OF INVESTMENT SMALL FARMS SOCIAL COSTS SOCIAL INSURANCE SYSTEM STOCK EXCHANGE STOCK EXCHANGE LISTING SWAP TAX TAX ADMINISTRATION TAX COLLECTIONS TAX POLICY TAX REVENUE TAX REVENUES TELECOMMUNICATIONS TERMS OF TRADE THE NATIONAL BANK OF MOLDOVA TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRADE DEFICIT TRADE POLICY TRADE REGIME TRADING TRANSACTIONS COSTS TRANSPARENCY TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNION VALUE ADDED VALUE OF OUTPUT WAGE DIFFERENTIALS WAGES WAREHOUSE WAREHOUSE RECEIPT WAREHOUSE RECEIPT SYSTEM WELFARE GAINS WITHDRAWAL 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=000333037_20111214012758 http://hdl.handle.net/10986/2805

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Summary:	This report argues that in the future Moldova will need to develop a second engine of growth from exports of goods and services. We argue that Moldova needs to resurrect agro-based exports, to raise their value by exporting to higher value markets, and develop service exports in order to provide job opportunities for underemployed tertiary graduates. To be successful in doing so, the government will need to implement deep fiscal and structural reforms to break the cycle, while taking advantage of productivity gains. Much needs fixing, and Moldova's public sector does not have the capacity to fix it all. Moldova's leaders need to reach consensus on a comprehensive and sequenced growth and poverty reduction strategy. This report sketches out what such a strategy should contain. The author suggests that geography and the Government's policy stance fundamentally shape Moldova's economic growth potential and the path and priorities that a growth strategy should follow. Government needs to accelerate reforms so that the country can emerge from the global crisis-induced recession with faster and less vulnerable growth. Business as usual will not suffice. The world's capital markets have become tighter, foreign investors more demanding, and export markets more competitive. In April 2009, Moldova's youth indicated that that they can no longer stand aside and watch Moldova fall behind, they have called for a politics of aspiration, and they will demand economic policies consistent with these aspirations.

Moldova - After the Global Crisis : Promoting Competitiveness and Shared Growth

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