Empirical explorations of the growth and aggregate productivity impacts of infrastructure have been characterized by ambiguous (countervailing signs) results with little robustness. This paper, utilizing panel data for South African manufacturing over the 1970–2000 period, and a range of 19...

Bulgaria is undergoing a profound socio-economic transformation brought about by extraordinary demographic change. Between 1950 and 1990, Bulgaria’s population grew from 7.3 million to 8.8 million and then declined to 7.5 million by 2010. Low birth rates and high mortality rates combined with...

After they achieved 2.2 percent growth in 2011, early indications are that the economies of the six countries in South East Europe (the SEE6: Albania, Bosnia and Herzegovina (BIH), Kosovo, FYR Macedonia, Montenegro, and Serbia) are slowing drastically and can expect just 1.1 percent growth in...

The paper analyzes the following three questions of importance for the quality of design and effectiveness of the World Bank's budget support (development policy operations--DPOs): What has been the quality of macro-fiscal frameworks and their building blocks in DPOs? What factors may be related...

The report provides a comprehensive analysis of the fiscal situation, composition of public expenditures, social expenditures and social outcomes and select public expenditure management issues in Swaziland

Cote d'Ivoire has witnessed unprecedented instability since 1999 and political tensions culminated in the civil conflict in 2002; while the war seems over, reconciliation has not been easy. The conflict resulted in a massive economic and social impact, affecting the entire sub-region. In July 2003,...

An early review of the general phenomenon of the transition - privatization of profits of state enterprises - in the case of Bulgaria, highlighting its impact on the pace of privatization and tax reform

The paper reviews legal, institutional and enforcement problems behind the lack of collateral credit to private firms in the early transition in Bulgaria. It also quantifies the cost of these problems and outlines an approach to reform of collateral institutions in order to increase the supply...