Bosnia and Herzegovina : Investment Climate Assessment
The private enterprise sector in Bosnia and Herzegovina (BiH) has been expanding steadily, and estimates are that it presently contributes close to 50 percent of Gross Domestic Product (GDP). The BiH private enterprise sector initially developed fo...
| Main Author: | |
|---|---|
| Format: | Investment Climate Assessment (ICA) |
| Language: | English en_US |
| Published: |
Washington, DC
2012
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2008/06/10868877/bosnia-herzegovina-investment-climate-assessment http://hdl.handle.net/10986/7808 |
| id |
okr-10986-7808 |
|---|---|
| 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 |
ACCESS TO INFORMATION ACCOUNTING ACCOUNTS RECEIVABLE ARREARS ASSET BASE ASSETS RATIO AUDITS BANK ACCOUNT BANKING SECTOR BANKRUPTCIES BANKRUPTCY BANKRUPTCY COURTS BANKRUPTCY PROCEDURES BARRIER BARRIER TO ENTRY BARRIERS TO INVESTMENT BENEFICIARIES BOOK MARKET BOOK VALUE BRANCH OFFICES BUSINESS ENVIRONMENT BUSINESS OPERATIONS BUSINESS PERFORMANCE BUSINESS REGULATIONS BUSINESS RISK CADASTRE CADASTRES CAPITAL BASE CAPITAL GAINS CAPITAL MARKETS CAPITAL NEEDS CASH FLOW CLIENT COUNTRIES COMMERCIAL BANK CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE TAX CORPORATE TAX RATES CREDIT EXPANSION CREDIT RISK CREDITOR CREDITOR CLAIMS CREDITORS CURRENCY CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT OBLIGATIONS DEBT RELIEF DEBTS DEEDS DEFAULTERS DEVELOPING ECONOMIES DEVELOPMENT BANK DISBURSEMENTS DISPUTE RESOLUTION DIVIDENDS DOMESTIC DEBT DOMESTIC INVESTORS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC REFORMS ELECTRONIC SIGNATURES EMERGING MARKETS ENABLING ENVIRONMENT ENTERPRISE CREDIT ENTERPRISE PERFORMANCE ENTERPRISE SECTOR EQUIPMENT EQUITY FUND EQUITY FUNDS EQUITY SWAPS EXCHANGE RATE EXISTING INFRASTRUCTURE EXPENDITURES EXTERNAL COMPETITIVENESS EXTERNAL DEBT EXTERNAL INVESTOR EXTERNAL INVESTORS EXTERNAL TRADE FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FIXED ASSETS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTORS FOREIGN MARKET FOREIGN OWNERSHIP FORGIVENESS FREE TRADE FUTURE PROSPECTS GOVERNMENT DEBT GOVERNMENT INVOLVEMENT GOVERNMENT REVENUE GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT HOLDING INCOME INCOME TAX INDEBTEDNESS INFLATION INFORMAL ECONOMY INSTITUTIONAL CAPACITIES INSURANCE INTERNATIONAL RESERVES INVENTORY INVESTMENT CLIMATE INVESTMENT FUND INVESTMENT FUNDS INVESTMENT OPPORTUNITIES INVESTMENT RATES INVESTOR DEMAND INVESTOR INCENTIVES INVESTOR INTEREST INVESTOR PARTICIPATION ISSUANCE JURISDICTIONS LABOR MARKET LABOR MARKETS LAND OWNERSHIP LEGAL FRAMEWORK LEGAL FRAMEWORKS LEVIES LIQUIDATION LIQUIDATIONS LIQUIDITY LIQUIDITY RISK LOAN LOCAL BANKS LOCAL CAPITAL MARKETS LOCAL GOVERNMENTS MACROECONOMIC STABILITY MARKET CONDITIONS MARKET MECHANISMS MARKET SHARE MARKET VALUATIONS MARKET VALUE MARKET VALUES MONETARY POLICIES MUTUAL FUND NONPERFORMING LOANS OPERATIONAL EFFICIENCIES OUTSIDE INVESTORS PENSION PENSION CONTRIBUTIONS PENSION SYSTEM PENSIONS POLITICAL ECONOMY PORTFOLIO PORTFOLIO MANAGERS POTENTIAL INVESTORS PRIVATE INVESTMENT PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR GROWTH PRIVATIZATION INVESTMENT PRIVATIZATIONS PUBLIC PENSION PUBLIC POLICY PUBLIC REGISTRY RAPID GROWTH REAL PROPERTY RED TAPE REFORM PROGRAM REGISTRATION FEE REGISTRATION LAWS REGISTRATION PROCESS REGISTRATION SYSTEM REGISTRY OFFICE REGULATORY BARRIERS REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY INFRASTRUCTURE REGULATORY REGIME REGULATORY SYSTEM RESERVE RESERVES RETURN RETURN ON ASSETS SAVINGS SECURITIES SECURITIES LAWS SHAREHOLDER SHAREHOLDERS SMALL ENTERPRISES SOLVENCY STAMP DUTY STATE ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCKS SUSTAINABLE DEVELOPMENT SUSTAINABLE GROWTH TAX TAX DEBT TAX DEBTS TAX POLICY TAX RATE TAX RATES TRACK RECORD TRADE BALANCE TRADE REGIME TRADE SECTOR TRADING TRADING VALUE TRANSITION ECONOMIES TRANSPARENCY TRUSTEES TURNOVER UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNSECURED CREDITORS VALUATIONS VOLATILITY VOUCHER PRIVATIZATION WAGE GROWTH WAREHOUSE WORKING CAPITAL |
| spellingShingle |
ACCESS TO INFORMATION ACCOUNTING ACCOUNTS RECEIVABLE ARREARS ASSET BASE ASSETS RATIO AUDITS BANK ACCOUNT BANKING SECTOR BANKRUPTCIES BANKRUPTCY BANKRUPTCY COURTS BANKRUPTCY PROCEDURES BARRIER BARRIER TO ENTRY BARRIERS TO INVESTMENT BENEFICIARIES BOOK MARKET BOOK VALUE BRANCH OFFICES BUSINESS ENVIRONMENT BUSINESS OPERATIONS BUSINESS PERFORMANCE BUSINESS REGULATIONS BUSINESS RISK CADASTRE CADASTRES CAPITAL BASE CAPITAL GAINS CAPITAL MARKETS CAPITAL NEEDS CASH FLOW CLIENT COUNTRIES COMMERCIAL BANK CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE TAX CORPORATE TAX RATES CREDIT EXPANSION CREDIT RISK CREDITOR CREDITOR CLAIMS CREDITORS CURRENCY CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT OBLIGATIONS DEBT RELIEF DEBTS DEEDS DEFAULTERS DEVELOPING ECONOMIES DEVELOPMENT BANK DISBURSEMENTS DISPUTE RESOLUTION DIVIDENDS DOMESTIC DEBT DOMESTIC INVESTORS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC REFORMS ELECTRONIC SIGNATURES EMERGING MARKETS ENABLING ENVIRONMENT ENTERPRISE CREDIT ENTERPRISE PERFORMANCE ENTERPRISE SECTOR EQUIPMENT EQUITY FUND EQUITY FUNDS EQUITY SWAPS EXCHANGE RATE EXISTING INFRASTRUCTURE EXPENDITURES EXTERNAL COMPETITIVENESS EXTERNAL DEBT EXTERNAL INVESTOR EXTERNAL INVESTORS EXTERNAL TRADE FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FIXED ASSETS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTORS FOREIGN MARKET FOREIGN OWNERSHIP FORGIVENESS FREE TRADE FUTURE PROSPECTS GOVERNMENT DEBT GOVERNMENT INVOLVEMENT GOVERNMENT REVENUE GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT HOLDING INCOME INCOME TAX INDEBTEDNESS INFLATION INFORMAL ECONOMY INSTITUTIONAL CAPACITIES INSURANCE INTERNATIONAL RESERVES INVENTORY INVESTMENT CLIMATE INVESTMENT FUND INVESTMENT FUNDS INVESTMENT OPPORTUNITIES INVESTMENT RATES INVESTOR DEMAND INVESTOR INCENTIVES INVESTOR INTEREST INVESTOR PARTICIPATION ISSUANCE JURISDICTIONS LABOR MARKET LABOR MARKETS LAND OWNERSHIP LEGAL FRAMEWORK LEGAL FRAMEWORKS LEVIES LIQUIDATION LIQUIDATIONS LIQUIDITY LIQUIDITY RISK LOAN LOCAL BANKS LOCAL CAPITAL MARKETS LOCAL GOVERNMENTS MACROECONOMIC STABILITY MARKET CONDITIONS MARKET MECHANISMS MARKET SHARE MARKET VALUATIONS MARKET VALUE MARKET VALUES MONETARY POLICIES MUTUAL FUND NONPERFORMING LOANS OPERATIONAL EFFICIENCIES OUTSIDE INVESTORS PENSION PENSION CONTRIBUTIONS PENSION SYSTEM PENSIONS POLITICAL ECONOMY PORTFOLIO PORTFOLIO MANAGERS POTENTIAL INVESTORS PRIVATE INVESTMENT PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR GROWTH PRIVATIZATION INVESTMENT PRIVATIZATIONS PUBLIC PENSION PUBLIC POLICY PUBLIC REGISTRY RAPID GROWTH REAL PROPERTY RED TAPE REFORM PROGRAM REGISTRATION FEE REGISTRATION LAWS REGISTRATION PROCESS REGISTRATION SYSTEM REGISTRY OFFICE REGULATORY BARRIERS REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY INFRASTRUCTURE REGULATORY REGIME REGULATORY SYSTEM RESERVE RESERVES RETURN RETURN ON ASSETS SAVINGS SECURITIES SECURITIES LAWS SHAREHOLDER SHAREHOLDERS SMALL ENTERPRISES SOLVENCY STAMP DUTY STATE ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCKS SUSTAINABLE DEVELOPMENT SUSTAINABLE GROWTH TAX TAX DEBT TAX DEBTS TAX POLICY TAX RATE TAX RATES TRACK RECORD TRADE BALANCE TRADE REGIME TRADE SECTOR TRADING TRADING VALUE TRANSITION ECONOMIES TRANSPARENCY TRUSTEES TURNOVER UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNSECURED CREDITORS VALUATIONS VOLATILITY VOUCHER PRIVATIZATION WAGE GROWTH WAREHOUSE WORKING CAPITAL World Bank Bosnia and Herzegovina : Investment Climate Assessment |
| geographic_facet |
Europe and Central Asia Bosnia and Herzegovina |
| description |
The private enterprise sector in Bosnia
and Herzegovina (BiH) has been expanding steadily, and
estimates are that it presently contributes close to 50
percent of Gross Domestic Product (GDP). The BiH private
enterprise sector initially developed following the
privatization program starting in 1999. Under that program,
the majority of state owned enterprises (SOEs) that were
privatized were done so using the voucher privatization
process. Under this procedure, vouchers were issued to all
citizens over 18 years of age, these vouchers could be used
to buy state owned properties or shares in SOEs. To promote
an orderly process, privatization investment funds were
created to help purchase such vouchers in exchange for
citizens' shareholdings in the investment funds
themselves. This process was also meant to develop the
capital markets via the eventual trading of such shares.
However, the process of voucher-to-share conversion,
resulted in the new owners seldom having to invest their own
capital in these voucher privatized enterprises. This was
because the 'ownership transfer' was provided on a
grant basis from the government to citizens. Because of
this, new ownership became automatic, without incentives to
put up additional capital to improve the businesses, leaving
these enterprises performing below potential capacity. The
government should consider implementing a pilot program of
restructurings to attract new investor capital within a well
organized framework using a methodology defined in advance.
Finally, economic research shows that increased firm
competitiveness, innovation, technological capability, and
export potential have a strong correlation with foreign ownership. |
| format |
Economic & Sector Work :: Investment Climate Assessment (ICA) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Bosnia and Herzegovina : Investment Climate Assessment |
| title_short |
Bosnia and Herzegovina : Investment Climate Assessment |
| title_full |
Bosnia and Herzegovina : Investment Climate Assessment |
| title_fullStr |
Bosnia and Herzegovina : Investment Climate Assessment |
| title_full_unstemmed |
Bosnia and Herzegovina : Investment Climate Assessment |
| title_sort |
bosnia and herzegovina : investment climate assessment |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/06/10868877/bosnia-herzegovina-investment-climate-assessment http://hdl.handle.net/10986/7808 |
| _version_ |
1764403095677173760 |
| spelling |
okr-10986-78082021-04-23T14:02:35Z Bosnia and Herzegovina : Investment Climate Assessment World Bank ACCESS TO INFORMATION ACCOUNTING ACCOUNTS RECEIVABLE ARREARS ASSET BASE ASSETS RATIO AUDITS BANK ACCOUNT BANKING SECTOR BANKRUPTCIES BANKRUPTCY BANKRUPTCY COURTS BANKRUPTCY PROCEDURES BARRIER BARRIER TO ENTRY BARRIERS TO INVESTMENT BENEFICIARIES BOOK MARKET BOOK VALUE BRANCH OFFICES BUSINESS ENVIRONMENT BUSINESS OPERATIONS BUSINESS PERFORMANCE BUSINESS REGULATIONS BUSINESS RISK CADASTRE CADASTRES CAPITAL BASE CAPITAL GAINS CAPITAL MARKETS CAPITAL NEEDS CASH FLOW CLIENT COUNTRIES COMMERCIAL BANK CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE TAX CORPORATE TAX RATES CREDIT EXPANSION CREDIT RISK CREDITOR CREDITOR CLAIMS CREDITORS CURRENCY CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT OBLIGATIONS DEBT RELIEF DEBTS DEEDS DEFAULTERS DEVELOPING ECONOMIES DEVELOPMENT BANK DISBURSEMENTS DISPUTE RESOLUTION DIVIDENDS DOMESTIC DEBT DOMESTIC INVESTORS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC REFORMS ELECTRONIC SIGNATURES EMERGING MARKETS ENABLING ENVIRONMENT ENTERPRISE CREDIT ENTERPRISE PERFORMANCE ENTERPRISE SECTOR EQUIPMENT EQUITY FUND EQUITY FUNDS EQUITY SWAPS EXCHANGE RATE EXISTING INFRASTRUCTURE EXPENDITURES EXTERNAL COMPETITIVENESS EXTERNAL DEBT EXTERNAL INVESTOR EXTERNAL INVESTORS EXTERNAL TRADE FINANCIAL DISTRESS FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FIXED ASSETS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTORS FOREIGN MARKET FOREIGN OWNERSHIP FORGIVENESS FREE TRADE FUTURE PROSPECTS GOVERNMENT DEBT GOVERNMENT INVOLVEMENT GOVERNMENT REVENUE GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT HOLDING INCOME INCOME TAX INDEBTEDNESS INFLATION INFORMAL ECONOMY INSTITUTIONAL CAPACITIES INSURANCE INTERNATIONAL RESERVES INVENTORY INVESTMENT CLIMATE INVESTMENT FUND INVESTMENT FUNDS INVESTMENT OPPORTUNITIES INVESTMENT RATES INVESTOR DEMAND INVESTOR INCENTIVES INVESTOR INTEREST INVESTOR PARTICIPATION ISSUANCE JURISDICTIONS LABOR MARKET LABOR MARKETS LAND OWNERSHIP LEGAL FRAMEWORK LEGAL FRAMEWORKS LEVIES LIQUIDATION LIQUIDATIONS LIQUIDITY LIQUIDITY RISK LOAN LOCAL BANKS LOCAL CAPITAL MARKETS LOCAL GOVERNMENTS MACROECONOMIC STABILITY MARKET CONDITIONS MARKET MECHANISMS MARKET SHARE MARKET VALUATIONS MARKET VALUE MARKET VALUES MONETARY POLICIES MUTUAL FUND NONPERFORMING LOANS OPERATIONAL EFFICIENCIES OUTSIDE INVESTORS PENSION PENSION CONTRIBUTIONS PENSION SYSTEM PENSIONS POLITICAL ECONOMY PORTFOLIO PORTFOLIO MANAGERS POTENTIAL INVESTORS PRIVATE INVESTMENT PRIVATE INVESTOR PRIVATE INVESTORS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR GROWTH PRIVATIZATION INVESTMENT PRIVATIZATIONS PUBLIC PENSION PUBLIC POLICY PUBLIC REGISTRY RAPID GROWTH REAL PROPERTY RED TAPE REFORM PROGRAM REGISTRATION FEE REGISTRATION LAWS REGISTRATION PROCESS REGISTRATION SYSTEM REGISTRY OFFICE REGULATORY BARRIERS REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY INFRASTRUCTURE REGULATORY REGIME REGULATORY SYSTEM RESERVE RESERVES RETURN RETURN ON ASSETS SAVINGS SECURITIES SECURITIES LAWS SHAREHOLDER SHAREHOLDERS SMALL ENTERPRISES SOLVENCY STAMP DUTY STATE ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET STOCKS SUSTAINABLE DEVELOPMENT SUSTAINABLE GROWTH TAX TAX DEBT TAX DEBTS TAX POLICY TAX RATE TAX RATES TRACK RECORD TRADE BALANCE TRADE REGIME TRADE SECTOR TRADING TRADING VALUE TRANSITION ECONOMIES TRANSPARENCY TRUSTEES TURNOVER UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNSECURED CREDITORS VALUATIONS VOLATILITY VOUCHER PRIVATIZATION WAGE GROWTH WAREHOUSE WORKING CAPITAL The private enterprise sector in Bosnia and Herzegovina (BiH) has been expanding steadily, and estimates are that it presently contributes close to 50 percent of Gross Domestic Product (GDP). The BiH private enterprise sector initially developed following the privatization program starting in 1999. Under that program, the majority of state owned enterprises (SOEs) that were privatized were done so using the voucher privatization process. Under this procedure, vouchers were issued to all citizens over 18 years of age, these vouchers could be used to buy state owned properties or shares in SOEs. To promote an orderly process, privatization investment funds were created to help purchase such vouchers in exchange for citizens' shareholdings in the investment funds themselves. This process was also meant to develop the capital markets via the eventual trading of such shares. However, the process of voucher-to-share conversion, resulted in the new owners seldom having to invest their own capital in these voucher privatized enterprises. This was because the 'ownership transfer' was provided on a grant basis from the government to citizens. Because of this, new ownership became automatic, without incentives to put up additional capital to improve the businesses, leaving these enterprises performing below potential capacity. The government should consider implementing a pilot program of restructurings to attract new investor capital within a well organized framework using a methodology defined in advance. Finally, economic research shows that increased firm competitiveness, innovation, technological capability, and export potential have a strong correlation with foreign ownership. 2012-06-12T15:42:45Z 2012-06-12T15:42:45Z 2008-06-10 http://documents.worldbank.org/curated/en/2008/06/10868877/bosnia-herzegovina-investment-climate-assessment http://hdl.handle.net/10986/7808 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Investment Climate Assessment (ICA) Economic & Sector Work Europe and Central Asia Bosnia and Herzegovina |