This note examines the relationship between the presence of foreign firms and total factor productivity (TFP) growth of domestic firms (called 'FDI, Foreign Direct Investment, spillovers') in Serbia over the period of 2005-16. The analysis finds evidence of FDI spillovers in Serbia. Domestic...

The diffusion of knowledge plays a central role in endogenous growth theories. Simply put, in these models new knowledge can be generated from preexisting knowledge. In other words, existing knowledge is a pure public good, which can benefit any economic agent anywhere. More generally,...

Serbia now has an exceptional policy opportunity to promote skills development and create a productive future workforce and a prosperous economy. With its population aging and the nature of work changing in a technologically transforming and globalizing economy, a highly skilled Serbian...

Because of its difficult starting position in transitioning to a market economy, so far macroeconomic policy in Serbia has mainly been concerned with achieving stability. At the start of its transition in 2001, Serbia was practically bankrupt, burdened with old overdue debt and huge arrears in...

Serbia is not growing as fast it could. Investment and productivity are low and slow growing; and the continuing large role of the state in the economy makes it difficult for the private sector to accelerate economic growth. Serbia is well-positioned to turn itself into a fast-growing,...

Addressing Serbia's labor market problems is critical to enhancing growth and job creation. Low labor force participation, relatively high unemployment, particularly among youth and other disadvantaged groups, and rising skills gaps currently impede efficient use of human capital and the...

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...

Although current growth rates are improving incomes in Serbia, they are not bringing the country closer to average living standards in the European Union fast enough. To reach European levels of prosperity, Serbia must embrace a new, ambitious agenda for growth. Serbia can become a fast-growing,...

This paper analyzes the Republic of Korea's rapid and sustained growth experience for the past six decades from the perspective of the neoclassical growth model (the workhorse model of the World Bank's Long Term Growth Model (LTGM) project). Overall, the sources of Korea's growth were balanced...

This paper studies the relationship between the level of economic development and the incidence of three forms of payments across countries, namely the incidence of bank accounts, digital payments, and mobile money accounts among the adult populations across countries. It presents simple...