Albania - Building Competitiveness : Main Report - Overview of Findings and Recommendations

Albania - Building Competitiveness : Main Report - Overview of Findings and Recommendations

Commitment to structural reforms and to economic stabilization has enabled high rates of gross domestic product (GDP) growth in Albania since the start of transition, and consequent reductions in poverty. The crisis caused by the collapse of '...

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Bibliographic Details
Main Author:	World Bank
Format:	Investment Climate Assessment (ICA)
Language:	English
Published:	World Bank 2012
Subjects:	ACTION PLAN AGRICULTURE AVERAGE PRODUCTIVITY BACKUP BALANCE OF PAYMENTS BANK CREDIT BORROWER BROAD MONEY BUDGET DEFICITS BUSINESS ENVIRONMENT BUSINESS PROCESSES BUSINESS SECTOR BUSINESSES BUYER BUYERS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL FORMATION CAPITAL GOODS CENTRAL PLANNING CLOSED ECONOMY COLLATERAL COMMODITY COMMUNICATION TECHNOLOGIES COMMUNICATION TECHNOLOGY COMPARATIVE ADVANTAGE COMPETITIVENESS CUSTOMS DEBT DEVELOPING COUNTRIES DOMESTIC CAPITAL DOMESTIC ECONOMY E-MAIL ECONOMETRIC ANALYSIS ECONOMIC CLIMATE ECONOMIC DYNAMISM ECONOMIC GROWTH ECONOMIC POLICIES EFFECTIVE STRATEGY ELECTRICITY EMERGING MARKETS EMPIRICAL STUDIES EMPLOYMENT CREATION ENTERPRISE DEVELOPMENT EQUIPMENT EXCHANGE RATE EXCHANGE RATE REGIMES EXOGENOUS VARIABLES EXPORT GROWTH EXPORT MARKET EXPORT MARKETS EXPORTS EXPOSURE EXTERNAL FINANCING EXTERNALITY FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FIRM PERFORMANCE FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL DEFICITS FIXED ASSETS FIXED COST FOREIGN BUYERS FOREIGN CAPITAL FOREIGN COMPANY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTORS FOREIGN EXCHANGE FOREIGN FIRMS FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTORS FOREIGN MARKETS FOREIGN OWNERS FOREIGN TRADE GDP GLOBAL COMPETITIVENESS GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL KNOWLEDGE GLOBAL MARKET GOVERNANCE INDICATORS GOVERNMENT POLICIES GROWTH POTENTIAL GROWTH RATE GROWTH RATES HARMONIZATION HUMAN CAPITAL ICT IMPACT ASSESSMENT IMPACT ASSESSMENTS INCOME LEVELS INDIVIDUAL FIRM INNOVATION INNOVATION POLICIES INNOVATIONS INSPECTION INSTITUTIONAL CAPACITY INSTITUTIONAL ENVIRONMENT INSTITUTIONAL FRAMEWORK INSTITUTIONAL INFRASTRUCTURE INTERNATIONAL COMPETITIVENESS INTERNATIONAL ECONOMY INTERNATIONAL INVESTORS INTERNATIONAL MARKETS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT CLIMATE REFORMS LABOR COSTS LABOR FORCE LABOR MARKET LEGAL SYSTEM LICENSE LICENSE FEE LIMITED ACCESS LIVING STANDARDS MACROECONOMIC MANAGEMENT MACROECONOMIC STABILITY MANUFACTURING MARKET COMPETITION MARKET DEVELOPMENTS MARKET REGULATION MEDIUM ENTERPRISES MISSING VALUES MONETARY POLICIES MONETARY POLICY MONEY GROWTH NATIONAL INCOME NATURAL RESOURCES NEW MARKETS NEW PRODUCTS NEW TECHNOLOGIES NEW TECHNOLOGY OIL OUTPUT OWNERSHIP STRUCTURE PARTIAL CREDIT PARTIAL CREDIT GUARANTEES PER CAPITA INCOMES PERFORMANCE MEASURE PERFORMANCE MEASURES PHONE POWER OUTAGES POWER PARITY PRICE STABILITY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR INVESTMENT PRIVATIZATION PRIVATIZATIONS PRODUCERS PRODUCT CATEGORIES PRODUCT DESIGN PRODUCTION FUNCTION PRODUCTION PROCESS PRODUCTION TECHNOLOGY PRODUCTIVITY GROWTH PROPERTY RIGHTS PROTOCOLS PUBLIC DEBT PURCHASING POWER QUALITY STANDARDS R&D RAPID EXPANSION REAL GDP RED TAPE REFORM PROGRAM REGRESSION ANALYSIS REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY GAP REGULATORY TREATMENT RELIABLE ACCESS RESULT RESULTS RETAIL PRICES RETENTION SAVINGS SEARCH SKILL BUILDING SKILLED WORKERS SMALL COUNTRY STANDARDIZATION STRUCTURAL CHANGE SUPPLY CHAINS SUPPLY NETWORKS TAX TAX RATES TAX SYSTEM TAXATION TECHNICAL KNOWLEDGE TECHNOLOGICAL INNOVATION TECHNOLOGICAL PROGRESS TECHNOLOGY SUPPORT TECHNOLOGY TRANSFER TELECOMMUNICATIONS TELEPHONE TELEPHONE CONNECTION TOTAL FACTOR PRODUCTIVITY TRADE BALANCE TRADE FACILITATION TRANSITION COUNTRIES TRANSITION ECONOMIES TRANSMISSION TRANSPARENCY UNFAIR COMPETITION VALUE ADDED WAGE RATES WAGES WEAK ENFORCEMENT WEB WORKING CAPITAL WORLD DEVELOPMENT INDICATORS WORLD MARKETS WORLD TRADE
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_20100331010114 http://hdl.handle.net/10986/3176

Description
Summary:	Commitment to structural reforms and to economic stabilization has enabled high rates of gross domestic product (GDP) growth in Albania since the start of transition, and consequent reductions in poverty. The crisis caused by the collapse of 'pyramid' investment schemes in late 1996 and early 1997, the Government began to implement a stabilization and reform program which has resulted in rates of economic growth averaging more than five percent annually between 1998 and 2007. Strong growth has in turn made possible a 6.8 percentage point decline in the poverty headcount, a higher drop than in most countries in the (Eastern) Europe and Central Asia (ECA) region. These achievements have been underpinned by prudent fiscal and monetary policies. Budget deficits have been kept under control, declining from an average of around 10 percent of GDP in the late 1990s to less than 4 percent since 2005. In parallel, a monetary targeting regime has ensured price stability, with inflation remaining at around 3 percent in recent years. This report discusses how Albania can improve its long term competitiveness and growth by facilitating firms' ability to employ technology and skills and by closing the gap between formal regulations and actual enforcement. The second chapter sets the stage by presenting the macroeconomic setting, as well as key structural features of the Albanian economy. The third chapter provides an overview of investment climate constraints on firm performance. The crucial pillars of the investment climate that affect firm performance that is to say: (i) access to and adoption of knowledge by Albanian firms, and (ii) the gap between formal and informal regulation are treated in chapters four and five respectively. Chapter six concludes and summarizes policy recommendations.

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