Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview

This report deals with medium and long-term growth issues rather than the challenges posed by the world financial crisis, the structural policy options presented in the report become even more important in that context, and can help to partially mi...

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Main Author:	World Bank
Format:	Country Economic Memorandum
Language:	English
Published:	World Bank 2012
Subjects:	ACCESS TO INFORMATION ACCOUNTING ADVERSE EFFECTS AGRICULTURE ANTI-COMPETITIVE PRACTICES AVERAGING BANK BRANCH BANK CREDIT BANK LOANS BANK SUPERVISION BANKING SYSTEM BARRIERS TO ENTRY BENCHMARK BORROWERS BUDGET BUSINESS COMMUNITY CADASTRE CAPITAL FLOWS CAPITAL FORMATION CENTRAL BANK COLLATERAL COLLATERAL PLEDGE COLLATERAL REGISTRY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVE MARKET CONSUMERS CONTRACT CONTRACT ENFORCEMENT CONTRACTS CORPORATE SAVINGS CORPORATE TAX RATES COUNTRY CREDIT CREDIT FLOW CREDIT FLOWS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PROVISION CREDIT RATING CREDIT RECORD CREDITORS CURRENT ACCOUNT DEFICIT DEBTORS DEMAND DEPOSIT DEPOSITS DEVELOPING COUNTRIES DIRECTED CREDIT DISPUTE RESOLUTION DOMESTIC BANKS DOMESTIC CREDIT ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS ENFORCEABILITY ENFORCEMENT PROCEDURES EQUITY EQUITY MARKET EXCHANGE EXCHANGE RATE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL CRISIS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR INDICATORS FINANCIAL SYSTEM FIXED ASSETS FIXED CAPITAL FIXED INVESTMENT FIXED INVESTMENTS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN FINANCING FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FUTURE GDP GOOD GOODS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INVESTMENT GOVERNMENT POLICY GOVERNMENT SPENDING GOVERNMENT SUBSIDIES GROSS FIXED CAPITAL FORMATION GROWTH RATE HOUSEHOLD SAVINGS HUMAN CAPITAL HUMAN DEVELOPMENT IMPLICIT TAX INCENTIVES INCOME LEVELS INEFFICIENCY INFLATION INFORMATION ON BORROWERS INFORMATION TECHNOLOGY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INPUTS INSTRUMENT INTEREST INTEREST RATES INTERNATIONAL FINANCIAL CRISIS INTERNATIONAL INVESTMENT INTERNATIONAL MARKETS INVESTMENT INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FUNDS INVESTMENT RATE INVESTMENT RATES INVESTOR INVESTOR CONFIDENCE INVESTOR UNCERTAINTY JOB CREATION LABOR MARKET LABOR MARKETS LAND RECORDS LAND TITLES LAND TITLING LEGAL SYSTEM LENDING LIABILITIES LIQUIDITY LOANABLE FUNDS LOANS LOCAL ECONOMY LONG-TERM PLANNING MACROECONOMIC RISKS MACROECONOMIC STABILITY MARKET ACCESS MARKET COMPETITION MARKET DATA MARKET ECONOMY MARKET REFORMS MARKET SHARE MARKET SHARES MIDDLE INCOME COUNTRIES MOBILE PHONE MOBILE PHONES MONETARY POLICY MONOPOLY MORTGAGE MUTUAL SAVINGS NATURAL RESOURCES NONPAYMENT NOTARIES OPTION OPTIONS OUTCOMES OUTSTANDING DEBTS PAYMENTS PENSION PENSION SYSTEM PER CAPITA INCOMES PHYSICAL ASSET PLEDGE POLITICAL STABILITY POLITICAL UNCERTAINTY POSSESSION OF COLLATERAL POVERTY POVERTY RATE PRICE INCREASES PRICING PRIVATE CREDIT PRIVATE INVESTMENT PRODUCTION PRODUCTION INCREASES PRODUCTION INPUTS PRODUCTIVE INVESTMENT PRODUCTIVITY PROPERTY PROVISION OF CREDIT PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PURCHASING POWER RATE OF RETURN REAL GDP REGULATORY CAPACITY REGULATORY FORBEARANCE REMITTANCES REPAYMENT RESERVES RESPONSIBILITIES RETURN RETURNS REVENUE RISK MANAGEMENT RISK MANAGEMENT SYSTEMS RURAL CREDIT SAFETY NET SAFETY NETS SAVINGS BANK SECURITY SHARE SMALL BORROWERS STATISTICAL ANALYSIS STOCK TAKEOVER TARIFF TARIFFS TAX TAXATION TAXES TELECOMMUNICATIONS TRADE TRADE DEFICIT TRADE DIVERSION TRADE POLICY TRADE REGIME TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION ECONOMIES TRANSPARENCY TREATY TRENDS UNEMPLOYMENT UNEMPLOYMENT RATE UNFAIR COMPETITION UTILITY VALUE WAGES
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=000333038_20090710031608 http://hdl.handle.net/10986/3066

id	okr-10986-3066
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCESS TO INFORMATION ACCOUNTING ADVERSE EFFECTS AGRICULTURE ANTI-COMPETITIVE PRACTICES AVERAGING BANK BRANCH BANK CREDIT BANK LOANS BANK SUPERVISION BANKING SYSTEM BARRIERS TO ENTRY BENCHMARK BORROWERS BUDGET BUSINESS COMMUNITY CADASTRE CAPITAL FLOWS CAPITAL FORMATION CENTRAL BANK COLLATERAL COLLATERAL PLEDGE COLLATERAL REGISTRY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVE MARKET CONSUMERS CONTRACT CONTRACT ENFORCEMENT CONTRACTS CORPORATE SAVINGS CORPORATE TAX RATES COUNTRY CREDIT CREDIT FLOW CREDIT FLOWS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PROVISION CREDIT RATING CREDIT RECORD CREDITORS CURRENT ACCOUNT DEFICIT DEBTORS DEMAND DEPOSIT DEPOSITS DEVELOPING COUNTRIES DIRECTED CREDIT DISPUTE RESOLUTION DOMESTIC BANKS DOMESTIC CREDIT ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS ENFORCEABILITY ENFORCEMENT PROCEDURES EQUITY EQUITY MARKET EXCHANGE EXCHANGE RATE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL CRISIS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR INDICATORS FINANCIAL SYSTEM FIXED ASSETS FIXED CAPITAL FIXED INVESTMENT FIXED INVESTMENTS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN FINANCING FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FUTURE GDP GOOD GOODS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INVESTMENT GOVERNMENT POLICY GOVERNMENT SPENDING GOVERNMENT SUBSIDIES GROSS FIXED CAPITAL FORMATION GROWTH RATE HOUSEHOLD SAVINGS HUMAN CAPITAL HUMAN DEVELOPMENT IMPLICIT TAX INCENTIVES INCOME LEVELS INEFFICIENCY INFLATION INFORMATION ON BORROWERS INFORMATION TECHNOLOGY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INPUTS INSTRUMENT INTEREST INTEREST RATES INTERNATIONAL FINANCIAL CRISIS INTERNATIONAL INVESTMENT INTERNATIONAL MARKETS INVESTMENT INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FUNDS INVESTMENT RATE INVESTMENT RATES INVESTOR INVESTOR CONFIDENCE INVESTOR UNCERTAINTY JOB CREATION LABOR MARKET LABOR MARKETS LAND RECORDS LAND TITLES LAND TITLING LEGAL SYSTEM LENDING LIABILITIES LIQUIDITY LOANABLE FUNDS LOANS LOCAL ECONOMY LONG-TERM PLANNING MACROECONOMIC RISKS MACROECONOMIC STABILITY MARKET ACCESS MARKET COMPETITION MARKET DATA MARKET ECONOMY MARKET REFORMS MARKET SHARE MARKET SHARES MIDDLE INCOME COUNTRIES MOBILE PHONE MOBILE PHONES MONETARY POLICY MONOPOLY MORTGAGE MUTUAL SAVINGS NATURAL RESOURCES NONPAYMENT NOTARIES OPTION OPTIONS OUTCOMES OUTSTANDING DEBTS PAYMENTS PENSION PENSION SYSTEM PER CAPITA INCOMES PHYSICAL ASSET PLEDGE POLITICAL STABILITY POLITICAL UNCERTAINTY POSSESSION OF COLLATERAL POVERTY POVERTY RATE PRICE INCREASES PRICING PRIVATE CREDIT PRIVATE INVESTMENT PRODUCTION PRODUCTION INCREASES PRODUCTION INPUTS PRODUCTIVE INVESTMENT PRODUCTIVITY PROPERTY PROVISION OF CREDIT PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PURCHASING POWER RATE OF RETURN REAL GDP REGULATORY CAPACITY REGULATORY FORBEARANCE REMITTANCES REPAYMENT RESERVES RESPONSIBILITIES RETURN RETURNS REVENUE RISK MANAGEMENT RISK MANAGEMENT SYSTEMS RURAL CREDIT SAFETY NET SAFETY NETS SAVINGS BANK SECURITY SHARE SMALL BORROWERS STATISTICAL ANALYSIS STOCK TAKEOVER TARIFF TARIFFS TAX TAXATION TAXES TELECOMMUNICATIONS TRADE TRADE DEFICIT TRADE DIVERSION TRADE POLICY TRADE REGIME TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION ECONOMIES TRANSPARENCY TREATY TRENDS UNEMPLOYMENT UNEMPLOYMENT RATE UNFAIR COMPETITION UTILITY VALUE WAGES
spellingShingle	ACCESS TO INFORMATION ACCOUNTING ADVERSE EFFECTS AGRICULTURE ANTI-COMPETITIVE PRACTICES AVERAGING BANK BRANCH BANK CREDIT BANK LOANS BANK SUPERVISION BANKING SYSTEM BARRIERS TO ENTRY BENCHMARK BORROWERS BUDGET BUSINESS COMMUNITY CADASTRE CAPITAL FLOWS CAPITAL FORMATION CENTRAL BANK COLLATERAL COLLATERAL PLEDGE COLLATERAL REGISTRY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVE MARKET CONSUMERS CONTRACT CONTRACT ENFORCEMENT CONTRACTS CORPORATE SAVINGS CORPORATE TAX RATES COUNTRY CREDIT CREDIT FLOW CREDIT FLOWS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PROVISION CREDIT RATING CREDIT RECORD CREDITORS CURRENT ACCOUNT DEFICIT DEBTORS DEMAND DEPOSIT DEPOSITS DEVELOPING COUNTRIES DIRECTED CREDIT DISPUTE RESOLUTION DOMESTIC BANKS DOMESTIC CREDIT ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS ENFORCEABILITY ENFORCEMENT PROCEDURES EQUITY EQUITY MARKET EXCHANGE EXCHANGE RATE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL CRISIS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR INDICATORS FINANCIAL SYSTEM FIXED ASSETS FIXED CAPITAL FIXED INVESTMENT FIXED INVESTMENTS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN FINANCING FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FUTURE GDP GOOD GOODS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INVESTMENT GOVERNMENT POLICY GOVERNMENT SPENDING GOVERNMENT SUBSIDIES GROSS FIXED CAPITAL FORMATION GROWTH RATE HOUSEHOLD SAVINGS HUMAN CAPITAL HUMAN DEVELOPMENT IMPLICIT TAX INCENTIVES INCOME LEVELS INEFFICIENCY INFLATION INFORMATION ON BORROWERS INFORMATION TECHNOLOGY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INPUTS INSTRUMENT INTEREST INTEREST RATES INTERNATIONAL FINANCIAL CRISIS INTERNATIONAL INVESTMENT INTERNATIONAL MARKETS INVESTMENT INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FUNDS INVESTMENT RATE INVESTMENT RATES INVESTOR INVESTOR CONFIDENCE INVESTOR UNCERTAINTY JOB CREATION LABOR MARKET LABOR MARKETS LAND RECORDS LAND TITLES LAND TITLING LEGAL SYSTEM LENDING LIABILITIES LIQUIDITY LOANABLE FUNDS LOANS LOCAL ECONOMY LONG-TERM PLANNING MACROECONOMIC RISKS MACROECONOMIC STABILITY MARKET ACCESS MARKET COMPETITION MARKET DATA MARKET ECONOMY MARKET REFORMS MARKET SHARE MARKET SHARES MIDDLE INCOME COUNTRIES MOBILE PHONE MOBILE PHONES MONETARY POLICY MONOPOLY MORTGAGE MUTUAL SAVINGS NATURAL RESOURCES NONPAYMENT NOTARIES OPTION OPTIONS OUTCOMES OUTSTANDING DEBTS PAYMENTS PENSION PENSION SYSTEM PER CAPITA INCOMES PHYSICAL ASSET PLEDGE POLITICAL STABILITY POLITICAL UNCERTAINTY POSSESSION OF COLLATERAL POVERTY POVERTY RATE PRICE INCREASES PRICING PRIVATE CREDIT PRIVATE INVESTMENT PRODUCTION PRODUCTION INCREASES PRODUCTION INPUTS PRODUCTIVE INVESTMENT PRODUCTIVITY PROPERTY PROVISION OF CREDIT PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PURCHASING POWER RATE OF RETURN REAL GDP REGULATORY CAPACITY REGULATORY FORBEARANCE REMITTANCES REPAYMENT RESERVES RESPONSIBILITIES RETURN RETURNS REVENUE RISK MANAGEMENT RISK MANAGEMENT SYSTEMS RURAL CREDIT SAFETY NET SAFETY NETS SAVINGS BANK SECURITY SHARE SMALL BORROWERS STATISTICAL ANALYSIS STOCK TAKEOVER TARIFF TARIFFS TAX TAXATION TAXES TELECOMMUNICATIONS TRADE TRADE DEFICIT TRADE DIVERSION TRADE POLICY TRADE REGIME TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION ECONOMIES TRANSPARENCY TREATY TRENDS UNEMPLOYMENT UNEMPLOYMENT RATE UNFAIR COMPETITION UTILITY VALUE WAGES World Bank Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview
geographic_facet	Europe and Central Asia Europe Eastern Europe Macedonia, former Yugoslav Republic of North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
relation	2939
description	This report deals with medium and long-term growth issues rather than the challenges posed by the world financial crisis, the structural policy options presented in the report become even more important in that context, and can help to partially mitigate the impact of the crisis on Macedonia. Section B looks at poverty and inequality issues. Section C examines Macedonia's past growth in terms of total factor productivity analysis, drawing the connection with labor and capital, and within these broad factors, human capital and infrastructure. It also compares Macedonia's growth to a successful regional comparator, Slovakia. Section D benchmarks Macedonia's performance in important policy areas that could affect growth relative to comparator countries. It also estimates how much improved performance in these areas could raise potential growth. Section E looks at efficiency in public expenditure and public investment important issues in raising growth. Section F summarizes these analyses and makes some initial recommendations.
format	Economic & Sector Work :: Country Economic Memorandum
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview
title_short	Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview
title_full	Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview
title_fullStr	Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview
title_full_unstemmed	Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview
title_sort	macedonia - moving to faster and more inclusive growth : a country economic memorandum - overview
publisher	World Bank
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20090710031608 http://hdl.handle.net/10986/3066
_version_	1764386417055629312
spelling	okr-10986-30662021-04-23T14:02:06Z Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview World Bank ACCESS TO INFORMATION ACCOUNTING ADVERSE EFFECTS AGRICULTURE ANTI-COMPETITIVE PRACTICES AVERAGING BANK BRANCH BANK CREDIT BANK LOANS BANK SUPERVISION BANKING SYSTEM BARRIERS TO ENTRY BENCHMARK BORROWERS BUDGET BUSINESS COMMUNITY CADASTRE CAPITAL FLOWS CAPITAL FORMATION CENTRAL BANK COLLATERAL COLLATERAL PLEDGE COLLATERAL REGISTRY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVE MARKET CONSUMERS CONTRACT CONTRACT ENFORCEMENT CONTRACTS CORPORATE SAVINGS CORPORATE TAX RATES COUNTRY CREDIT CREDIT FLOW CREDIT FLOWS CREDIT GROWTH CREDIT HISTORIES CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PROVISION CREDIT RATING CREDIT RECORD CREDITORS CURRENT ACCOUNT DEFICIT DEBTORS DEMAND DEPOSIT DEPOSITS DEVELOPING COUNTRIES DIRECTED CREDIT DISPUTE RESOLUTION DOMESTIC BANKS DOMESTIC CREDIT ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORMS ENFORCEABILITY ENFORCEMENT PROCEDURES EQUITY EQUITY MARKET EXCHANGE EXCHANGE RATE EXPENDITURES EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT PERFORMANCE EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL CRISIS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR INDICATORS FINANCIAL SYSTEM FIXED ASSETS FIXED CAPITAL FIXED INVESTMENT FIXED INVESTMENTS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN FINANCING FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN INVESTORS FUTURE GDP GOOD GOODS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INVESTMENT GOVERNMENT POLICY GOVERNMENT SPENDING GOVERNMENT SUBSIDIES GROSS FIXED CAPITAL FORMATION GROWTH RATE HOUSEHOLD SAVINGS HUMAN CAPITAL HUMAN DEVELOPMENT IMPLICIT TAX INCENTIVES INCOME LEVELS INEFFICIENCY INFLATION INFORMATION ON BORROWERS INFORMATION TECHNOLOGY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INPUTS INSTRUMENT INTEREST INTEREST RATES INTERNATIONAL FINANCIAL CRISIS INTERNATIONAL INVESTMENT INTERNATIONAL MARKETS INVESTMENT INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FUNDS INVESTMENT RATE INVESTMENT RATES INVESTOR INVESTOR CONFIDENCE INVESTOR UNCERTAINTY JOB CREATION LABOR MARKET LABOR MARKETS LAND RECORDS LAND TITLES LAND TITLING LEGAL SYSTEM LENDING LIABILITIES LIQUIDITY LOANABLE FUNDS LOANS LOCAL ECONOMY LONG-TERM PLANNING MACROECONOMIC RISKS MACROECONOMIC STABILITY MARKET ACCESS MARKET COMPETITION MARKET DATA MARKET ECONOMY MARKET REFORMS MARKET SHARE MARKET SHARES MIDDLE INCOME COUNTRIES MOBILE PHONE MOBILE PHONES MONETARY POLICY MONOPOLY MORTGAGE MUTUAL SAVINGS NATURAL RESOURCES NONPAYMENT NOTARIES OPTION OPTIONS OUTCOMES OUTSTANDING DEBTS PAYMENTS PENSION PENSION SYSTEM PER CAPITA INCOMES PHYSICAL ASSET PLEDGE POLITICAL STABILITY POLITICAL UNCERTAINTY POSSESSION OF COLLATERAL POVERTY POVERTY RATE PRICE INCREASES PRICING PRIVATE CREDIT PRIVATE INVESTMENT PRODUCTION PRODUCTION INCREASES PRODUCTION INPUTS PRODUCTIVE INVESTMENT PRODUCTIVITY PROPERTY PROVISION OF CREDIT PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PURCHASING POWER RATE OF RETURN REAL GDP REGULATORY CAPACITY REGULATORY FORBEARANCE REMITTANCES REPAYMENT RESERVES RESPONSIBILITIES RETURN RETURNS REVENUE RISK MANAGEMENT RISK MANAGEMENT SYSTEMS RURAL CREDIT SAFETY NET SAFETY NETS SAVINGS BANK SECURITY SHARE SMALL BORROWERS STATISTICAL ANALYSIS STOCK TAKEOVER TARIFF TARIFFS TAX TAXATION TAXES TELECOMMUNICATIONS TRADE TRADE DEFICIT TRADE DIVERSION TRADE POLICY TRADE REGIME TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION ECONOMIES TRANSPARENCY TREATY TRENDS UNEMPLOYMENT UNEMPLOYMENT RATE UNFAIR COMPETITION UTILITY VALUE WAGES This report deals with medium and long-term growth issues rather than the challenges posed by the world financial crisis, the structural policy options presented in the report become even more important in that context, and can help to partially mitigate the impact of the crisis on Macedonia. Section B looks at poverty and inequality issues. Section C examines Macedonia's past growth in terms of total factor productivity analysis, drawing the connection with labor and capital, and within these broad factors, human capital and infrastructure. It also compares Macedonia's growth to a successful regional comparator, Slovakia. Section D benchmarks Macedonia's performance in important policy areas that could affect growth relative to comparator countries. It also estimates how much improved performance in these areas could raise potential growth. Section E looks at efficiency in public expenditure and public investment important issues in raising growth. Section F summarizes these analyses and makes some initial recommendations. 2012-03-19T17:23:41Z 2012-03-19T17:23:41Z 2009-06-06 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20090710031608 http://hdl.handle.net/10986/3066 English 2939 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Country Economic Memorandum Europe and Central Asia Europe Eastern Europe Macedonia, former Yugoslav Republic of North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)

Macedonia - Moving to Faster and More Inclusive Growth : A Country Economic Memorandum - Overview

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