Navigating Serbia’s Economic Future: The Crucial Role of Productivity
August 6, 2025
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Serbia has grown at a rate comparable to peers over recent decades, but the income gap with the EU, albeit narrowing, remains large. As contributions from labor and capital to potential growth are expected to decline, Serbia needs to accelerate structural reforms to boost total factor productivity (TFP). Successful implementation of structural reforms could yield substantial benefits. Key policy options include those that strengthen governance, reduce state influence in the economy, address skill mismatches, enhance assess to finance among firms, and promote research and development (R&D) and innovation.
Subject: Labor, Labor markets, Labor productivity, Production, Productivity, Revenue performance assessment, Tax gap, Total factor productivity
Keywords: address skill mismatch, business environment, Europe, FDI firm, Global, governance, human capital, innovation, Labor markets, Labor productivity, policy option, potential output, product market reform, product market reforms, productivity, role of productivity, Serbia, structural policy gaps, structural reforms, Tax gap, Total factor productivity
Pages:
27
Volume:
2025
DOI:
Issue:
111
Series:
Selected Issues Paper No. 2025/111
Stock No:
SIPEA2025111
ISBN:
9798229020367
ISSN:
2958-7875
