LEADER 06429oam 22013814 450 001 9910821303403321 005 20240409234900.0 010 $a1-4843-7229-8 035 $a(CKB)2670000000608529 035 $a(EBL)2008588 035 $a(MiAaPQ)EBC2008588 035 $a(Au-PeEL)EBL2008588 035 $a(CaPaEBR)ebr11041899 035 $a(CaONFJC)MIL763477 035 $a(OCoLC)907299707 035 $a(IMF)REIEUREA2015001 035 $a(EXLCZ)992670000000608529 100 $a20020129d2015 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aRegional Economic Issues, April 2015, Europe : $eThe Western Balkans: 15 Years of Economic Transition 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2015. 215 $a1 online resource (120 p.) 225 1 $aRegional Economic Outlook 300 $aDescription based upon print version of record. 311 $a1-4983-5651-6 311 $a1-4983-6294-X 320 $aIncludes bibliographical references. 327 $aCover; CONTENTS; FOREWORD; STRUCTURE AND FOCUS OF THE REPORT; COUNTRY COVERAGE AND ACRONYMS; EXECUTIVE SUMMARY; OVERVIEW: ECONOMIC TRANSFORMATION IN THE WESTERN BALKANS; CHAPTER 1: JOBS, GROWTH, AND CONVERGENCE: OBSTACLES AND THE ROADMAP TO REFORM; A. Growth and Convergence-A Cup Half Full or Half Empty?; B. Progress in Economic Transformation; BOXES; Box 1.1. Inequality and Poverty in the Western Balkans; C. Ranking Structural Reforms Priorities for Faster Growth; Box 1.2. Reform Gaps in Institutions, Infrastructure, Goods Market Efficiency, and Labor Markets 327 $aBox 1.3. Structural Reform in Kosovo: Past Achievements and Future Priorities D. The Quest for Jobs; E. Lessons for Stronger Convergence; CHAPTER 2: MACROECONOMIC DEVELOPMENTS AND POLICIES: BOOM, BUST, AND THE AFTERMATH; A. Background and Context-Macroeconomic Stabilization in the 1990's; B. Before the Global Financial Crisis: Optimism and Inflows; C. Recession and Recovery after the Global Financial Crisis; D. Lessons from the Crisis and Policy Challenges; Box 2.1. The Western Balkans and the IMF; Box 2.2. Public Pension Spending in the Western Balkans 327 $aCHAPTER 3: FINANCIAL SECTOR: DEEPENING, RESILIENCE, AND ONGOING CHALLENGES A. Financial Deepening from a Low Base; B. Credit Swings and Financial Stability; C. Financial Sector Inclusion and Efficiency; D. The Unfinished Institutional Reform Agenda and International Cooperation; E. Cross-Border Finance and the Future of Western Balkan Banking; Box 3.1. Nonbank Financial Deepening in the Western Balkans; Box 3.2. Croatia's Defense against the Boom; Box 3.3. Nonperforming Loans in the Western Balkans: Why Has Progress Been So Limited?; ANNEXES; Annex 1.1. Growth Accounting 327 $aAnnex 1.2. Convergence Analysis Annex 1.3. Trade Linkages; Annex 1.4. Structural Reform Gaps and Economic Growth; Annex 1.5. Labor Market Outcomes-Regression Analysis; Annex 2.1. Estimating the Determinants of Expenditure Policy; Annex 2.2. Estimating the Determinants of the Recession and the Recovery; Annex 2.3. Fiscal Policies in the Western Balkans; Annex 3.1. Benchmarking Financial Development and Explaining Gaps; REFERENCES 330 3 $aThis report analyses the main economic developments and achievements in the Western Balkan countries, and lays out the key macroeconomic policy challenges for the future. 410 0$aRegional Economic Outlook 606 $aEconomic development$zBalkan Peninsula 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aLabor$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMacroeconomics$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aDemand and Supply of Labor: General$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aPrice Level$2imf 606 $aInflation$2imf 606 $aDeflation$2imf 606 $aMonetary economics$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aBanking$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aInternational economics$2imf 606 $aLabor markets$2imf 606 $aCredit$2imf 606 $aCapital inflows$2imf 606 $aMoney$2imf 606 $aBalance of payments$2imf 606 $aCredit booms$2imf 606 $aPrices$2imf 606 $aLabor market$2imf 606 $aBanks and banking$2imf 606 $aCapital movements$2imf 606 $aIncome economics$2imf 607 $aBosnia and Herzegovina$2imf 615 0$aEconomic development 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aLabor 615 7$aMoney and Monetary Policy 615 7$aMacroeconomics 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aDemand and Supply of Labor: General 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aPrice Level 615 7$aInflation 615 7$aDeflation 615 7$aMonetary economics 615 7$aLabour 615 7$aincome economics 615 7$aBanking 615 7$aCurrency 615 7$aForeign exchange 615 7$aInternational economics 615 7$aLabor markets 615 7$aCredit 615 7$aCapital inflows 615 7$aMoney 615 7$aBalance of payments 615 7$aCredit booms 615 7$aPrices 615 7$aLabor market 615 7$aBanks and banking 615 7$aCapital movements 615 7$aIncome economics 676 $a338.9474 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910821303403321 996 $aRegional Economic Issues, April 2015, Europe$94069126 997 $aUNINA