Albania - Building Competitiveness : Main Report - Overview of Findings and Recommendations
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World Bank
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Commitment to structural reforms and to
economic stabilization has enabled high rates of gross
domestic product (GDP) growth in Albania since the start of
transition, and consequent reductions in poverty. The crisis
caused by the collapse of 'pyramid' investment
schemes in late 1996 and early 1997, the Government began to
implement a stabilization and reform program which has
resulted in rates of economic growth averaging more than
five percent annually between 1998 and 2007. Strong growth
has in turn made possible a 6.8 percentage point decline in
the poverty headcount, a higher drop than in most countries
in the (Eastern) Europe and Central Asia (ECA) region. These
achievements have been underpinned by prudent fiscal and
monetary policies. Budget deficits have been kept under
control, declining from an average of around 10 percent of
GDP in the late 1990s to less than 4 percent since 2005. In
parallel, a monetary targeting regime has ensured price
stability, with inflation remaining at around 3 percent in
recent years. This report discusses how Albania can improve
its long term competitiveness and growth by facilitating
firms' ability to employ technology and skills and by
closing the gap between formal regulations and actual
enforcement. The second chapter sets the stage by presenting
the macroeconomic setting, as well as key structural
features of the Albanian economy. The third chapter provides
an overview of investment climate constraints on firm
performance. The crucial pillars of the investment climate
that affect firm performance that is to say: (i) access to
and adoption of knowledge by Albanian firms, and (ii) the
gap between formal and informal regulation are treated in
chapters four and five respectively. Chapter six concludes
and summarizes policy recommendations.
Palabras clave
ACTION PLAN, AGRICULTURE, AVERAGE PRODUCTIVITY, BACKUP, BALANCE OF PAYMENTS, BANK CREDIT, BORROWER, BROAD MONEY, BUDGET DEFICITS, BUSINESS ENVIRONMENT, BUSINESS PROCESSES, BUSINESS SECTOR, BUSINESSES, BUYER, BUYERS, CAPITAL ACCUMULATION, CAPITAL FLOWS, CAPITAL FORMATION, CAPITAL GOODS, CENTRAL PLANNING, CLOSED ECONOMY, COLLATERAL, COMMODITY, COMMUNICATION TECHNOLOGIES, COMMUNICATION TECHNOLOGY, COMPARATIVE ADVANTAGE, COMPETITIVENESS, CUSTOMS, DEBT, DEVELOPING COUNTRIES, DOMESTIC CAPITAL, DOMESTIC ECONOMY, E-MAIL, ECONOMETRIC ANALYSIS, ECONOMIC CLIMATE, ECONOMIC DYNAMISM, ECONOMIC GROWTH, ECONOMIC POLICIES, EFFECTIVE STRATEGY, ELECTRICITY, EMERGING MARKETS, EMPIRICAL STUDIES, EMPLOYMENT CREATION, ENTERPRISE DEVELOPMENT, EQUIPMENT, EXCHANGE RATE, EXCHANGE RATE REGIMES, EXOGENOUS VARIABLES, EXPORT GROWTH, EXPORT MARKET, EXPORT MARKETS, EXPORTS, EXPOSURE, EXTERNAL FINANCING, EXTERNALITY, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FINANCIAL SYSTEM, FIRM PERFORMANCE, FISCAL CONSOLIDATION, FISCAL DEFICIT, FISCAL DEFICITS, FIXED ASSETS, FIXED COST, FOREIGN BUYERS, FOREIGN CAPITAL, FOREIGN COMPANY, FOREIGN DIRECT INVESTMENT, FOREIGN DIRECT INVESTORS, FOREIGN EXCHANGE, FOREIGN FIRMS, FOREIGN INVESTMENT, FOREIGN INVESTMENTS, FOREIGN INVESTORS, FOREIGN MARKETS, FOREIGN OWNERS, FOREIGN TRADE, GDP, GLOBAL COMPETITIVENESS, GLOBAL ECONOMIC PROSPECTS, GLOBAL ECONOMY, GLOBAL KNOWLEDGE, GLOBAL MARKET, GOVERNANCE INDICATORS, GOVERNMENT POLICIES, GROWTH POTENTIAL, GROWTH RATE, GROWTH RATES, HARMONIZATION, HUMAN CAPITAL, ICT, IMPACT ASSESSMENT, IMPACT ASSESSMENTS, INCOME LEVELS, INDIVIDUAL FIRM, INNOVATION, INNOVATION POLICIES, INNOVATIONS, INSPECTION, INSTITUTIONAL CAPACITY, INSTITUTIONAL ENVIRONMENT, INSTITUTIONAL FRAMEWORK, INSTITUTIONAL INFRASTRUCTURE, INTERNATIONAL COMPETITIVENESS, INTERNATIONAL ECONOMY, INTERNATIONAL INVESTORS, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, INVESTMENT CLIMATE, INVESTMENT CLIMATE REFORMS, LABOR COSTS, LABOR FORCE, LABOR MARKET, LEGAL SYSTEM, LICENSE, LICENSE FEE, LIMITED ACCESS, LIVING STANDARDS, MACROECONOMIC MANAGEMENT, MACROECONOMIC STABILITY, MANUFACTURING, MARKET COMPETITION, MARKET DEVELOPMENTS, MARKET REGULATION, MEDIUM ENTERPRISES, MISSING VALUES, MONETARY POLICIES, MONETARY POLICY, MONEY GROWTH, NATIONAL INCOME, NATURAL RESOURCES, NEW MARKETS, NEW PRODUCTS, NEW TECHNOLOGIES, NEW TECHNOLOGY, OIL, OUTPUT, OWNERSHIP STRUCTURE, PARTIAL CREDIT, PARTIAL CREDIT GUARANTEES, PER CAPITA INCOMES, PERFORMANCE MEASURE, PERFORMANCE MEASURES, PHONE, POWER OUTAGES, POWER PARITY, PRICE STABILITY, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTOR INVESTMENT, PRIVATIZATION, PRIVATIZATIONS, PRODUCERS, PRODUCT CATEGORIES, PRODUCT DESIGN, PRODUCTION FUNCTION, PRODUCTION PROCESS, PRODUCTION TECHNOLOGY, PRODUCTIVITY GROWTH, PROPERTY RIGHTS, PROTOCOLS, PUBLIC DEBT, PURCHASING POWER, QUALITY STANDARDS, R&D, RAPID EXPANSION, REAL GDP, RED TAPE, REFORM PROGRAM, REGRESSION ANALYSIS, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, REGULATORY GAP, REGULATORY TREATMENT, RELIABLE ACCESS, RESULT, RESULTS, RETAIL PRICES, RETENTION, SAVINGS, SEARCH, SKILL BUILDING, SKILLED WORKERS, SMALL COUNTRY, STANDARDIZATION, STRUCTURAL CHANGE, SUPPLY CHAINS, SUPPLY NETWORKS, TAX, TAX RATES, TAX SYSTEM, TAXATION, TECHNICAL KNOWLEDGE, TECHNOLOGICAL INNOVATION, TECHNOLOGICAL PROGRESS, TECHNOLOGY SUPPORT, TECHNOLOGY TRANSFER, TELECOMMUNICATIONS, TELEPHONE, TELEPHONE CONNECTION, TOTAL FACTOR PRODUCTIVITY, TRADE BALANCE, TRADE FACILITATION, TRANSITION COUNTRIES, TRANSITION ECONOMIES, TRANSMISSION, TRANSPARENCY, UNFAIR COMPETITION, VALUE ADDED, WAGE RATES, WAGES, WEAK ENFORCEMENT, WEB, WORKING CAPITAL, WORLD DEVELOPMENT INDICATORS, WORLD MARKETS, WORLD TRADE