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Buildings Market Institutions in South Eastern Europe : Comparative Prospects for Investment and Private Sector Development

Author

Listed:
  • Harry G. Broadman
  • James Anderson
  • Constantijn A. Claessens
  • Randi Ryterman
  • Stefka Slavova
  • Maria Vagliasindi
  • Gallina A. Vincelette

Abstract

This report studies impediments to investment and private sector development in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the former Yugoslav Republic of Macedonia, Moldova, Romania, and Serbia and Montenegro. It aims to yield fundamentally new insights for improving the region's business environment, economic development, and prospects for growth. It focuses on four core topics: 1) Business competition and economic barriers to entry and exit; 2) Access to regulated utilities and services; 3) Corporate ownership, transparency of business accounts, and access to finance; and 4) Mechanisms for commercial dispute resolution. Each topic is empirically investigated across all eight South Eastern European countries through the systematic use of data from multiple sources: Official data from each country in the region; results from two annual rounds of quantitative, firm-level surveys covering 1,600 firms; and results from 40 originally developed enterprise-level business case studies. The result is an innovative analysis of cross-country comparisons and the development of key policy challenges from a regional perspective. The report ends by making concrete recommendations for reforms that would ease the constraints on domestic and foreign investment, an essential step in sustaining growth and reducing poverty in the region.

Suggested Citation

  • Harry G. Broadman & James Anderson & Constantijn A. Claessens & Randi Ryterman & Stefka Slavova & Maria Vagliasindi & Gallina A. Vincelette, 2004. "Buildings Market Institutions in South Eastern Europe : Comparative Prospects for Investment and Private Sector Development," World Bank Publications, The World Bank, number 14947, June.
  • Handle: RePEc:wbk:wbpubs:14947
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/14947/293010PAPER0Building0market0institutions.pdf?sequence=1
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    References listed on IDEAS

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    2. Messick, Richard E, 1999. "Judicial Reform and Economic Development: A Survey of the Issues," World Bank Research Observer, World Bank Group, vol. 14(1), pages 117-136, February.
    3. Fafchamps, Marcel, 1996. "The enforcement of commercial contracts in Ghana," World Development, Elsevier, vol. 24(3), pages 427-448, March.
    4. Hendley, Kathryn & Murrell, Peter, 2003. "Which mechanisms support the fulfillment of sales agreements?: Asking decision-makers in firms," Economics Letters, Elsevier, vol. 78(1), pages 49-54, January.
    5. Woodruff, Christopher, 1998. "Contract enforcement and trade liberalization in Mexico's footwear industry," World Development, Elsevier, vol. 26(6), pages 979-991, June.
    6. Abhijit V. Banerjee & Esther Duflo, 2000. "Reputation Effects and the Limits of Contracting: A Study of the Indian Software Industry," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 989-1017.
    7. McMillan, John & Woodruff, Christopher, 1999. "Dispute Prevention without Courts in Vietnam," Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(3), pages 637-658, October.
    8. Clay, Karen, 1997. "Trade without Law: Private-Order Institutions in Mexican California," Journal of Law, Economics, and Organization, Oxford University Press, vol. 13(1), pages 202-231, April.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. World Bank, 2005. "El Salvador : Investment Climate Assessment, Volume 1, Main Findings and Policy Recommendations," World Bank Other Operational Studies 8673, The World Bank.
    2. Pyle, William, 2006. "Resolutions, recoveries and relationships: The evolution of payment disputes in Central and Eastern Europe," Journal of Comparative Economics, Elsevier, vol. 34(2), pages 317-337, June.
    3. Marian Rizov, 2004. "Credit Constraints and Profitability : Evidence from a Transition Economy," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 40(4), pages 63-83, July.
    4. repec:mgt:youmgt:v:15:y:2017:i:3:p:291-314 is not listed on IDEAS
    5. World Bank, 2005. "El Salvador : Investment Climate Assessment, Volume 2, Detailed Findings and Recommendations," World Bank Other Operational Studies 8670, The World Bank.
    6. Linda Kaltani, 2007. "Complementary Reforms and the Link between Trade Openness and Growth in Albania," Post-Communist Economies, Taylor & Francis Journals, vol. 19(2), pages 225-253.
    7. Gordian R├Ąttich & Kim Clark & Evi Hartmann, 2011. "Performance measurement and antecedents of early internationalizing firms: A systematic assessment," Working Papers 0031, College of Business, University of Texas at San Antonio.
    8. Gary A. Dymski, 2013. "The Crisis of the Core Seen through the Eyes of the Periphery: A Schelling Model of the Global-South Megacity and the European Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(4), pages 433-455, June.

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