EU Regular Economic Report 8 : Living Up to Potential in the Wake of Adverse Shocks : Part 2 - Growth Over the Next Decade
This report discusses long-term growth prospects in four EU countries — Bulgaria, Croatia, Poland and Romania. It brings together the key anticipated structural trends in the EU over the next decade to construct a baseline for potential growth by 2...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC : World Bank
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099010107142211711/P1775970ff5c9b08a08c7002f107a66863b http://hdl.handle.net/10986/37715 |
| Summary: | This report discusses long-term
growth prospects in four EU countries — Bulgaria, Croatia,
Poland and Romania. It brings together the key anticipated
structural trends in the EU over the next decade to
construct a baseline for potential growth by 2030.
Thereafter, it quantifies the impact of policy reform
scenarios on potential growth. These reforms have been
selected based on the most pressing needs for longer-term
growth in the four focus countries, national targets and
plans—with modeling constraints also a key consideration.
These reforms include: (i) boosting labor force
participation to counter the effects of an ageing
population; (ii) increasing the average years of education;
(iii) improving EU fund absorption rate to enhance
investments; (iv) increasing the index of institutional
quality to demonstrate the impact of strengthening
institutions; and (v) increasing research and development
(R&D) spending to accelerate the digital transition. The
report also quantifies the combined impact of these reforms
and their effect on the convergence process. |
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