Following a decade of conflicts, Western Balkan countries accomplished robust economic growth in the 2000s. This growth pattern was domestic demand driven and externally financed, hence was hampered significantly by the global financial crisis and subsequent euro area debt crisis. Despite modest...

The report aims to explore and analyze the major gaps in financial inclusion and access to finance in Romania, as identified in the Technical Note on Financial Intermediation prepared in the context of the Financial Sector Assessment Program (FSAP) (2018). The FSAP technical note analyzed the...

This report presents an analysis conducted by the World Bank to assess macro-fiscal impacts of earthquakes and floods in European Union (EU) Member States (MS), analyze the financial instruments in place to manage this risk and identify any associated funding gaps. The analysis is underpinned by...

Scientific and technological knowledge is increasingly recognized as a keystone of economic growth and social development. This paper reviews the main components of policy reform strategies designed to increase the efficiency of investments in science and techbology, with specific reference to...

The pharmaceutical industry is unique because of a close connection between knowledge and final product. As the quintessential science-based industry, pharmaceuticals depend heavily on high level manpower and substantial R&D for innovation. Because these requirements are costly, the industry is...

This study of six industries in eight economies examined the role in building industrial technological capability played by outside sources particularly technology institutions (TIs) such as research and standards organizations and by directed policies such as tax incentives. It concluded that...

This report is one of four analytical pieces on Ukraine's innovation and entrepreneurial ecosystem developed by the World Bank's Ukraine Technical Assistance on Innovation, supported by the Swedish Ukraine Financial and Enterprise Sector Recovery and Growth Trust Fund. The review presents an...

The transition to a more innovation-based growth model is even more urgent in the current uncertain global context[1]. While the GDP growth rate has proven resilient in recent years, declining oil and gas output, coupled with economic shocks, including the recent COVID-19 pandemic, havedented...

Despite sustained economic growth over the past two decades, Sub-Saharan Africa faces massive challenges and significant gaps in many development outcomes. Although poverty has been declining, a recent report estimates that over two-fifths of the African population was poor in 2012. Nearly...