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Economic Growth in Croatia: Potential and Constraints

Author/Editor: Moore, David | Vamvakidis, Athanasios
Authorized for Distribution: August 1, 2007
Electronic Access: Free Full Text (PDF file size is 516KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper examines the factors and constraints that affect recent and potential growth in Croatia, as well as policies that can influence it. On current productivity trends, it estimates Croatia's potential growth rate at 4-4½ percent, a result reasonably robust to different methodologies. To sustain growth at a higher rate in line with the authorities' aspirations, the analysis highlights the critical need to improve the business environment through further measures to reduce the administrative burden, legal uncertainties, and corruption. It also emphasizes the importance of attracting more greenfield foreign direct investment, and reforms to reduce the role of the state in the economy through fiscal consolidation and faster privatization.
 
Series: Working Paper No. 07/198
Subject(s): Economic growth | Croatia | Privatization | Foreign direct investment | Economic reforms
Author's keyword(s): Economic growth | economic reform | potential growth
 
English  
    Published:   August 1, 2007        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2007198   Pages:   36
    Price:   US$18.00 (Academic Rate: US$18.00)
       
     
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