Slovak Republic--Joining the EU : A Development Policy Review

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dc.creatorWorld Bank
dc.date2013-07-26T21:49:14Z
dc.date2013-07-26T21:49:14Z
dc.date2003-06
dc.date.accessioned2026-07-01T01:26:37Z
dc.descriptionThe Slovak Republic's external current account and fiscal deficits (net of privatization receipts) are unsustainably high (at about 8 percent of GDP in 2002), despite some recent declines. With a capital account surplus of perhaps 20 percent of GDP this year, the Slovak Republic may not find it particularly difficult to finance these deficits, but this favorable situation will not last. Furthermore, through its impact on the real exchange rate, this policy mix is undermining the employability of large segments of the population (particularly those with low skill levels) and will ultimately choke growth (projected at 4 percent for 2002). While much policy attention has gone to stimulating investment, future growth will also depend on raising the employment rate, currently one of the lowest among the Central and East European Countries (CEECs). This report lays out the broad thrust of a policy strategy to bolster the recovery and bring the economy towards convergence with the EU. This strategy consists of three key elements: (a) Continued trade, finance, and enterprise reform to complete the structural transformation of the economy and align it with the EU framework (b) Fiscal consolidation, focusing on cutting back expenditure and stabilizing revenues, while redirecting revenue and expenditure policies to become more fully supportive of growth and employment objectives (c) Labor market reform, directed at enhancing labor market flexibility by relaxing legal provisions on working arrangements (such as part-time work, self-employment, and fixed term contracts), by decentralizing collective bargaining, and discarding the minimum wage as an instrument of incomes policy, and by reforming the social assistance system. The ultimate success of the policy reforms outlined in this report will depend to a great extent on the government's capacity to strengthen the institutional framework in which those policies are conceived, decided upon, and executed. Three priorities have been highlighted: (i) the reform of public expenditure management systems and practices needed to support a growth-oriented fiscal strategy; (ii) the consolidation of the recent decentralization moves as a prerequisite for further devolution, and (iii) a much overdue overhaul of the judiciary system.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2003/06/2492170/slovak-republic-joining-eu-development-policy-review
dc.identifier0-8213-5510-4
dc.identifierhttps://hdl.handle.net/10986/14629
dc.identifierhttps://doi.org/10.1596/0-8213-5510-4
dc.identifier.urihttp://hdl.handle.net/123456789/418138
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.relationWorld Bank Country Study
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectTRADE REFORM
dc.subjectFINANCIAL SECTOR REFORM
dc.subjectENTERPRISE RESTRUCTURING
dc.subjectFISCAL CONSOLIDATION
dc.subjectLABOR MARKET CHARACTERISTICS
dc.subjectGOVERNANCE
dc.subjectMACROECONOMIC FORECASTING
dc.subjectSTRUCTURAL REFORMS
dc.subjectEXTERNAL FINANCE
dc.subjectTRADE INTEGRATION
dc.subjectEUROPEAN UNION MEMBERSHIP
dc.subjectSUBSIDIES
dc.subjectRETIREMENT AGE
dc.subjectPAYROLL TAXES
dc.subjectVALUE ADDED TAXES
dc.subjectWINDFALL TAXATION
dc.subjectTAX INCENTIVES
dc.subjectLABOR LEGISLATION
dc.subjectMINIMUM WAGE LAWS
dc.subjectCOLLECTIVE BARGAINING AGREEMENTS
dc.subjectPRIVATIZATION OF PUBLIC ENTERPRISES
dc.subjectPOWER GENERATION
dc.subjectPENSION FUNDS ADMINISTRATION
dc.subjectSOCIAL ASSISTANCE
dc.subjectPUBLIC HEALTH
dc.subjectHEALTH SERVICE DELIVERY
dc.subjectSECONDARY EDUCATION
dc.subjectTERTIERY EDUCATION
dc.subjectQUALITY OF EDUCATION
dc.subjectSTUDENT EVALUATION
dc.subjectACCREDITATION (EDUCATION)
dc.subjectEQUITY IN EDUCATION
dc.subjectFISCAL ADMINISTRATION
dc.subjectHOUSEHOLD SURVEYS
dc.subjectDECENTRALIZATION
dc.subjectJUDICIAL REFORM ACCOUNTABILITY
dc.subjectACCOUNTABILITY MECHANISMS
dc.subjectACCOUNTING
dc.subjectAGRICULTURE
dc.subjectAUTHORITY
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK LENDING
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR REFORMS
dc.subjectBANKRUPTCY
dc.subjectBONDS
dc.subjectCAPITAL
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL GOVERNMENT
dc.subjectCIVIL SERVICE
dc.subjectCONSOLIDATION
dc.subjectCONSUMERS
dc.subjectCORPORATE INCOME TAX
dc.subjectCOST SAVINGS
dc.subjectCPI
dc.subjectCROWDING OUT
dc.subjectCURRENT PRICES
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectDECENTRALIZATION
dc.subjectDEFICITS
dc.subjectDEMOGRAPHIC ASSUMPTIONS
dc.subjectDEMOGRAPHIC TRANSITION
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDEVOLUTION
dc.subjectECONOMIC ASSISTANCE
dc.subjectECONOMIC CONDITIONS
dc.subjectELECTRICITY
dc.subjectENTERPRISE OWNERSHIP
dc.subjectENTERPRISE REFORM
dc.subjectENTERPRISE RESTRUCTURING
dc.subjectEXCESS DEMAND
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXECUTION
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectEXTRAORDINARY ITEMS
dc.subjectFARMS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL EXPANSION
dc.subjectFISCAL MEASURES
dc.subjectFISCAL SUSTAINABILITY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN TRADE
dc.subjectFREE TRADE
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGOVERNMENT CONSUMPTION
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROWTH RATE
dc.subjectHEALTH SERVICES
dc.subjectHEALTH SPENDING
dc.subjectIMPORT TARIFFS
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINFLATION
dc.subjectINSURANCE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINTERNATIONAL ENVIRONMENT
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT
dc.subjectINVESTMENT CLIMATE
dc.subjectJUDICIARY
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET POLICIES
dc.subjectLABOR MARKETS
dc.subjectLICENSES
dc.subjectLOCAL GOVERNMENTS
dc.subjectMINISTRY OF FINANCE
dc.subjectMUNICIPALITIES
dc.subjectNATIONAL BANK OF SLOVAKIA
dc.subjectNATIONAL INCOME
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPAYROLL TAXES
dc.subjectPENSIONS
dc.subjectPER CAPITA INCOME
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPROFIT MARGINS
dc.subjectPROFITABILITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE MANAGEMENT
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC HEALTH
dc.subjectPUBLIC PROCUREMENT
dc.subjectPUBLIC PROCUREMENT ACT
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR DEFICIT
dc.subjectPUBLIC SECTOR FINANCE
dc.subjectPUBLIC SERVICE
dc.subjectPUBLIC SPENDING
dc.subjectPURCHASING POWER
dc.subjectRATIONALIZATION
dc.subjectREAL GDP
dc.subjectREDEMPTION
dc.subjectREPUBLICS
dc.subjectRETIREMENT
dc.subjectSAVINGS
dc.subjectSOCIAL ASSISTANCE
dc.subjectSOCIAL INSURANCE
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL REFORMS
dc.subjectSTATISTICAL DATA
dc.subjectSTREAMS
dc.subjectSURCHARGES
dc.subjectTAX
dc.subjectTAX BURDEN
dc.subjectTAX INCENTIVES
dc.subjectTAX RATE
dc.subjectTAX REVENUES
dc.subjectTERMS OF TRADE
dc.subjectTRANSPORT
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectURUGUAY ROUND
dc.subjectVALUE ADDED
dc.subjectWAGES
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleSlovak Republic--Joining the EU : A Development Policy Review

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