Serbia’s New Growth Agenda : Increasing Exports
Evidence from several countries reveals that nations that have open economies tend to enjoy higher income than those with closed economies (Lind and Ramondo 2018). Openness to hosting multinationalfirms can lead to firms in receiving countries acqu...
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| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/496521585544006401/Serbia-s-New-Growth-Agenda-Country-Economic-Memorandum-Increasing-Exports http://hdl.handle.net/10986/33568 |
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okr-10986-335682021-05-25T09:35:00Z Serbia’s New Growth Agenda : Increasing Exports Frias, Jaime Shimbov, Bojan Davies, Elwyn Ek, Colin EXPORT COMPETITIVENESS EXPORT DIVERSIFICATION TRADE PROMOTION TRADE FACILITATION FOREIGN DIRECT INVESTMENT PROCESSING TRADE Evidence from several countries reveals that nations that have open economies tend to enjoy higher income than those with closed economies (Lind and Ramondo 2018). Openness to hosting multinationalfirms can lead to firms in receiving countries acquiring new technology and skills (Harrison and Rodriguez-Clare 2010), and to productivity-enhancing spillovers, particularly through vertical commercial relationships between foreign and domestic suppliers. Learning by exporting offers positive knowledge externalities, and it comprises myriad ways in which exports can stimulate growth in productivity, including development of exporter capabilities, such as marketing new products; upgrading product quality; and acquiring expertise in managing customer relationships by dealing with foreign buyers. The value from knowledge spillovers and the promise of job creation are often seen as positive externalities and are usually brought in to justify policy interventions in the form of tax incentives, grants, and other concessions (access to land sites at minimal or low cost). It is often thought that spillovers from foreign firms are driven by transfers of technology and by learning about markets by exporting. Learning from foreign buyers is supposed to be channeled directly to the exporters or passed through to local suppliers and competitors in domestic markets. There is some evidence that in Serbia, the international competitiveness of domestic exporters has been diminishing, and government programs to support links with markets receive meager financial allocations. Recent successes in exports of manufactures have revealed the great potential of Serbia, but these have been driven by only a few firms, many of them foreign-owned. This has lowered expectations of inclusive and widespread growth. There is also a growing sense that government efforts to promote exports and attract export-oriented investment in Serbia have instead been directed to attracting foreign direct investment (FDI) at the expense of export promotion, which has not been particularly effective. A looming question has become whether the current policy mix for promoting competitive Serbian exports needs realignment. 2020-04-09T20:52:13Z 2020-04-09T20:52:13Z 2020-03-26 Report http://documents.worldbank.org/curated/en/496521585544006401/Serbia-s-New-Growth-Agenda-Country-Economic-Memorandum-Increasing-Exports http://hdl.handle.net/10986/33568 English Country Economic Memorandum; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Country Economic Memorandum 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 |
| topic |
EXPORT COMPETITIVENESS EXPORT DIVERSIFICATION TRADE PROMOTION TRADE FACILITATION FOREIGN DIRECT INVESTMENT PROCESSING TRADE |
| spellingShingle |
EXPORT COMPETITIVENESS EXPORT DIVERSIFICATION TRADE PROMOTION TRADE FACILITATION FOREIGN DIRECT INVESTMENT PROCESSING TRADE Frias, Jaime Shimbov, Bojan Davies, Elwyn Ek, Colin Serbia’s New Growth Agenda : Increasing Exports |
| geographic_facet |
Europe and Central Asia Serbia |
| relation |
Country Economic Memorandum; |
| description |
Evidence from several countries reveals
that nations that have open economies tend to enjoy higher
income than those with closed economies (Lind and Ramondo
2018). Openness to hosting multinationalfirms can lead to
firms in receiving countries acquiring new technology and
skills (Harrison and Rodriguez-Clare 2010), and to
productivity-enhancing spillovers, particularly through
vertical commercial relationships between foreign and
domestic suppliers. Learning by exporting offers positive
knowledge externalities, and it comprises myriad ways in
which exports can stimulate growth in productivity,
including development of exporter capabilities, such as
marketing new products; upgrading product quality; and
acquiring expertise in managing customer relationships by
dealing with foreign buyers. The value from knowledge
spillovers and the promise of job creation are often seen as
positive externalities and are usually brought in to justify
policy interventions in the form of tax incentives, grants,
and other concessions (access to land sites at minimal or
low cost). It is often thought that spillovers from foreign
firms are driven by transfers of technology and by learning
about markets by exporting. Learning from foreign buyers is
supposed to be channeled directly to the exporters or passed
through to local suppliers and competitors in domestic
markets. There is some evidence that in Serbia, the
international competitiveness of domestic exporters has been
diminishing, and government programs to support links with
markets receive meager financial allocations. Recent
successes in exports of manufactures have revealed the great
potential of Serbia, but these have been driven by only a
few firms, many of them foreign-owned. This has lowered
expectations of inclusive and widespread growth. There is
also a growing sense that government efforts to promote
exports and attract export-oriented investment in Serbia
have instead been directed to attracting foreign direct
investment (FDI) at the expense of export promotion, which
has not been particularly effective. A looming question has
become whether the current policy mix for promoting
competitive Serbian exports needs realignment. |
| format |
Report |
| author |
Frias, Jaime Shimbov, Bojan Davies, Elwyn Ek, Colin |
| author_facet |
Frias, Jaime Shimbov, Bojan Davies, Elwyn Ek, Colin |
| author_sort |
Frias, Jaime |
| title |
Serbia’s New Growth Agenda : Increasing Exports |
| title_short |
Serbia’s New Growth Agenda : Increasing Exports |
| title_full |
Serbia’s New Growth Agenda : Increasing Exports |
| title_fullStr |
Serbia’s New Growth Agenda : Increasing Exports |
| title_full_unstemmed |
Serbia’s New Growth Agenda : Increasing Exports |
| title_sort |
serbia’s new growth agenda : increasing exports |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/496521585544006401/Serbia-s-New-Growth-Agenda-Country-Economic-Memorandum-Increasing-Exports http://hdl.handle.net/10986/33568 |
| _version_ |
1764479043606937600 |