Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report
For Croatia, the challenge is to create conditions that will attract investment and produce growth. These conditions can broadly be categorized as (a) stable, progressive and predictable laws and institutions; (b) efficient labor and financial mark...
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| Format: | Country Economic Memorandum |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2003/07/2466194/croatia-country-economic-memorandum-strategy-growth-through-european-integration-vol-2-2-main-report http://hdl.handle.net/10986/14707 |
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okr-10986-14707 |
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| 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 en_US |
| topic |
EURROPEAN INTEGRATION ENTERPRISE RESTRUCTURING STRUCTURAL REFORMS INVESTMENT ENVIRONMENT GROWTH PROMOTION PROPERTY RIGHTS JUDICIAL REFORM JOB CREATION POLICIES BUSINESS ENVIRONMENT PUBLIC ADMINISTRATION KNOWLEDGE TRANSFER COMPETITIVENESS MACROECONOMIC STABILIZATION PUBLIC EXPENDITURES FOR HEALTH WAGE LEVELS FISCAL POLICY GOVERNMENT SPENDING POLICY SOCIAL SECURITY SYSTEMS CIVIL SERVICE REFORMS COURT PROCEDURES SMALL CLAIMS COURTS LEGAL FRAMEWORK UNEMPLOYMENT RATES BARRIERS TO ENTRY LABOR MARKET CHARACTERISTICS CORPORATE GOVERNANCE PRIVATIZATION OF PUBLIC ENTERPRISES DEBT SUSTAINABILITY EMPLOYMENT CREATION LAND RIGHTS HUMAN CAPITAL DEVELOPMENT ACCOUNTABILITY ADMINISTRATIVE REFORMS AGRICULTURE AIR AIR QUALITY ALTERNATIVE POLICIES BALANCE SHEET BANKING SYSTEM BANKRUPTCY BENCHMARK CAPITAL FLOWS CAPITAL GOODS CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE COMPETITIVENESS CONSOLIDATION DEBT DEMOCRATIZATION DEVELOPMENT PROJECTS ECONOMIC GROWTH ECONOMIC INFORMATION EMPLOYMENT ENTERPRISE RESTRUCTURING EXCHANGE RATE EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FISCAL FISCAL REFORM FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FREE TRADE GDP HUMAN CAPITAL INCOME INNOVATION INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSTITUTIONAL REFORMS INTERVENTION INVESTMENT CLIMATE JUDICIARY KNOWLEDGE ECONOMY LABOR MARKET LABOR MARKETS LABOR MOBILITY LACK OF TRANSPARENCY LAWS LEGISLATION LOCAL GOVERNMENT MACROECONOMIC STABILITY MARKETING MEMBER STATES NEW ENTRANTS POLICY MAKERS POLLUTION PRESIDENTIAL ELECTIONS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PROPERTY RIGHTS PRUDENTIAL REGULATIONS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC GOODS PUBLIC RESOURCES PUBLIC SECTOR QUALITY STANDARDS RECURRENT EXPENDITURES REGIONAL INTEGRATION RESEARCH CENTERS SAVINGS SCHOOLS SOCIAL COST SOCIAL PROTECTION SOFT BUDGET CONSTRAINTS STATE AID STATE-OWNED ENTERPRISES SUSTAINABLE GROWTH TERTIARY EDUCATION TRADE BARRIERS TRADE FLOWS TRADE LIBERALIZATION TRANSPORT UNEMPLOYMENT VALUE ADDED WAGES WASTE WATER SUPPLY WORKERS WORLD TRADE ORGANIZATION WTO |
| spellingShingle |
EURROPEAN INTEGRATION ENTERPRISE RESTRUCTURING STRUCTURAL REFORMS INVESTMENT ENVIRONMENT GROWTH PROMOTION PROPERTY RIGHTS JUDICIAL REFORM JOB CREATION POLICIES BUSINESS ENVIRONMENT PUBLIC ADMINISTRATION KNOWLEDGE TRANSFER COMPETITIVENESS MACROECONOMIC STABILIZATION PUBLIC EXPENDITURES FOR HEALTH WAGE LEVELS FISCAL POLICY GOVERNMENT SPENDING POLICY SOCIAL SECURITY SYSTEMS CIVIL SERVICE REFORMS COURT PROCEDURES SMALL CLAIMS COURTS LEGAL FRAMEWORK UNEMPLOYMENT RATES BARRIERS TO ENTRY LABOR MARKET CHARACTERISTICS CORPORATE GOVERNANCE PRIVATIZATION OF PUBLIC ENTERPRISES DEBT SUSTAINABILITY EMPLOYMENT CREATION LAND RIGHTS HUMAN CAPITAL DEVELOPMENT ACCOUNTABILITY ADMINISTRATIVE REFORMS AGRICULTURE AIR AIR QUALITY ALTERNATIVE POLICIES BALANCE SHEET BANKING SYSTEM BANKRUPTCY BENCHMARK CAPITAL FLOWS CAPITAL GOODS CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE COMPETITIVENESS CONSOLIDATION DEBT DEMOCRATIZATION DEVELOPMENT PROJECTS ECONOMIC GROWTH ECONOMIC INFORMATION EMPLOYMENT ENTERPRISE RESTRUCTURING EXCHANGE RATE EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FISCAL FISCAL REFORM FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FREE TRADE GDP HUMAN CAPITAL INCOME INNOVATION INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSTITUTIONAL REFORMS INTERVENTION INVESTMENT CLIMATE JUDICIARY KNOWLEDGE ECONOMY LABOR MARKET LABOR MARKETS LABOR MOBILITY LACK OF TRANSPARENCY LAWS LEGISLATION LOCAL GOVERNMENT MACROECONOMIC STABILITY MARKETING MEMBER STATES NEW ENTRANTS POLICY MAKERS POLLUTION PRESIDENTIAL ELECTIONS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PROPERTY RIGHTS PRUDENTIAL REGULATIONS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC GOODS PUBLIC RESOURCES PUBLIC SECTOR QUALITY STANDARDS RECURRENT EXPENDITURES REGIONAL INTEGRATION RESEARCH CENTERS SAVINGS SCHOOLS SOCIAL COST SOCIAL PROTECTION SOFT BUDGET CONSTRAINTS STATE AID STATE-OWNED ENTERPRISES SUSTAINABLE GROWTH TERTIARY EDUCATION TRADE BARRIERS TRADE FLOWS TRADE LIBERALIZATION TRANSPORT UNEMPLOYMENT VALUE ADDED WAGES WASTE WATER SUPPLY WORKERS WORLD TRADE ORGANIZATION WTO World Bank Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report |
| geographic_facet |
Europe and Central Asia Croatia |
| description |
For Croatia, the challenge is to create
conditions that will attract investment and produce growth.
These conditions can broadly be categorized as (a) stable,
progressive and predictable laws and institutions; (b)
efficient labor and financial markets; (c) macroeconomic and
financial stability; (d) social and environmental
sustainability; (e) effective integration into the European
infrastructure networks ensuring competitive cost and
quality; and (f) a dynamic business-oriented environment
which facilitates the production of high value added goods
and promotes the adoption of efficient processes and
innovative technologies. This Report proposes a reform
strategy for faster economic growth through European
integration. Other key inputs for creating a favorable
investment climate and consolidating growth prospects
include skilled labor, efficient financial markets, and
high-quality cost-efficient infrastructure services. Croatia
has already achieved substantial progress in these areas.
However, pursuing reforms in these sectors would not be
costly and would be good for growth and European
integration. Thus, higher education reform should be
pursued, as should reforms to create market-oriented
infrastructure institutions as envisaged in EU Directives,
including the institutional development of regulators and
the strengthening of the competition agency. The highly
competitive European environment requires, in particular,
well-focused training and higher education programs that
offer firms qualified staff and adequate skills for an
innovation-driven knowledge economy. The further deepening
of financial markets, which is closely connected to the
reforms in the legal and institutional framework outlined
above, ought to focus also on the strengthening of the
regulatory and supervisory functions, particularly in the
non-banking sectors. Similarly, market-oriented energy,
transport, and communications are crucial to enhance the
global competitiveness of the Croatian economy and to foster
its integration into the European economy while creating
opportunities for FDI. |
| format |
Economic & Sector Work :: Country Economic Memorandum |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report |
| title_short |
Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report |
| title_full |
Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report |
| title_fullStr |
Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report |
| title_full_unstemmed |
Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report |
| title_sort |
croatia - country economic memorandum : a strategy for growth through european integration, volume 2. main report |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2003/07/2466194/croatia-country-economic-memorandum-strategy-growth-through-european-integration-vol-2-2-main-report http://hdl.handle.net/10986/14707 |
| _version_ |
1764428157518086144 |
| spelling |
okr-10986-147072021-04-23T14:03:16Z Croatia - Country Economic Memorandum : A Strategy for Growth through European Integration, Volume 2. Main Report World Bank EURROPEAN INTEGRATION ENTERPRISE RESTRUCTURING STRUCTURAL REFORMS INVESTMENT ENVIRONMENT GROWTH PROMOTION PROPERTY RIGHTS JUDICIAL REFORM JOB CREATION POLICIES BUSINESS ENVIRONMENT PUBLIC ADMINISTRATION KNOWLEDGE TRANSFER COMPETITIVENESS MACROECONOMIC STABILIZATION PUBLIC EXPENDITURES FOR HEALTH WAGE LEVELS FISCAL POLICY GOVERNMENT SPENDING POLICY SOCIAL SECURITY SYSTEMS CIVIL SERVICE REFORMS COURT PROCEDURES SMALL CLAIMS COURTS LEGAL FRAMEWORK UNEMPLOYMENT RATES BARRIERS TO ENTRY LABOR MARKET CHARACTERISTICS CORPORATE GOVERNANCE PRIVATIZATION OF PUBLIC ENTERPRISES DEBT SUSTAINABILITY EMPLOYMENT CREATION LAND RIGHTS HUMAN CAPITAL DEVELOPMENT ACCOUNTABILITY ADMINISTRATIVE REFORMS AGRICULTURE AIR AIR QUALITY ALTERNATIVE POLICIES BALANCE SHEET BANKING SYSTEM BANKRUPTCY BENCHMARK CAPITAL FLOWS CAPITAL GOODS CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE COMPETITIVENESS CONSOLIDATION DEBT DEMOCRATIZATION DEVELOPMENT PROJECTS ECONOMIC GROWTH ECONOMIC INFORMATION EMPLOYMENT ENTERPRISE RESTRUCTURING EXCHANGE RATE EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FISCAL FISCAL REFORM FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FREE TRADE GDP HUMAN CAPITAL INCOME INNOVATION INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSTITUTIONAL REFORMS INTERVENTION INVESTMENT CLIMATE JUDICIARY KNOWLEDGE ECONOMY LABOR MARKET LABOR MARKETS LABOR MOBILITY LACK OF TRANSPARENCY LAWS LEGISLATION LOCAL GOVERNMENT MACROECONOMIC STABILITY MARKETING MEMBER STATES NEW ENTRANTS POLICY MAKERS POLLUTION PRESIDENTIAL ELECTIONS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PROPERTY RIGHTS PRUDENTIAL REGULATIONS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC GOODS PUBLIC RESOURCES PUBLIC SECTOR QUALITY STANDARDS RECURRENT EXPENDITURES REGIONAL INTEGRATION RESEARCH CENTERS SAVINGS SCHOOLS SOCIAL COST SOCIAL PROTECTION SOFT BUDGET CONSTRAINTS STATE AID STATE-OWNED ENTERPRISES SUSTAINABLE GROWTH TERTIARY EDUCATION TRADE BARRIERS TRADE FLOWS TRADE LIBERALIZATION TRANSPORT UNEMPLOYMENT VALUE ADDED WAGES WASTE WATER SUPPLY WORKERS WORLD TRADE ORGANIZATION WTO For Croatia, the challenge is to create conditions that will attract investment and produce growth. These conditions can broadly be categorized as (a) stable, progressive and predictable laws and institutions; (b) efficient labor and financial markets; (c) macroeconomic and financial stability; (d) social and environmental sustainability; (e) effective integration into the European infrastructure networks ensuring competitive cost and quality; and (f) a dynamic business-oriented environment which facilitates the production of high value added goods and promotes the adoption of efficient processes and innovative technologies. This Report proposes a reform strategy for faster economic growth through European integration. Other key inputs for creating a favorable investment climate and consolidating growth prospects include skilled labor, efficient financial markets, and high-quality cost-efficient infrastructure services. Croatia has already achieved substantial progress in these areas. However, pursuing reforms in these sectors would not be costly and would be good for growth and European integration. Thus, higher education reform should be pursued, as should reforms to create market-oriented infrastructure institutions as envisaged in EU Directives, including the institutional development of regulators and the strengthening of the competition agency. The highly competitive European environment requires, in particular, well-focused training and higher education programs that offer firms qualified staff and adequate skills for an innovation-driven knowledge economy. The further deepening of financial markets, which is closely connected to the reforms in the legal and institutional framework outlined above, ought to focus also on the strengthening of the regulatory and supervisory functions, particularly in the non-banking sectors. Similarly, market-oriented energy, transport, and communications are crucial to enhance the global competitiveness of the Croatian economy and to foster its integration into the European economy while creating opportunities for FDI. 2013-07-31T20:24:42Z 2013-07-31T20:24:42Z 2003-07 http://documents.worldbank.org/curated/en/2003/07/2466194/croatia-country-economic-memorandum-strategy-growth-through-european-integration-vol-2-2-main-report http://hdl.handle.net/10986/14707 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Europe and Central Asia Croatia |