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From Transition to Accession
Bulgaria is recovering from a severe economic and financial crisis after more than half a decade of macroeconomic mismanagement. As a candidate country for accession to the EU, Bulgaria will need to establish stable, well-regulated and competitive financial markets and institutions. This paper reviews developments in the financial markets.
Bulgaria
The purpose of this country study is to evaluate Bulgaria's progress in its transition from plan to market and preparing for membership to the European Union. It examines economic developments during the 1990's with a focus on the 1997-1999 period. This study describes the structural and institutional reforms implemented during this period, their impact and the prospects for accession to the European Union.
Does Eurosclerosis Matter?
"Whether or not labor market rigidities are an important contributor to persistently high levels of unemployment remains at the center of an important debate in Europe. European labor markets are often viewed as rigid and inflexible in opposition to those in North America where legislation is less protective and fosters more mobility. This paper shows that the labor market policies adopted by Central and Eastern European countries, aspiring to join the European Union, do not appear excessively rigid. However, significant and wide- ranging economic reform programs make it difficult to assess the impact of labor market institutions."
Bulgaria
This is the first public expenditure and institutional review on Bulgaria by the World Bank. The objective of this study is to outline public expenditure issues and policy directions to improve the efficiency and effectiveness of pubic expenditures in Bulgaria. It assesses fiscal sustainability and analyzes the efficiency and effectiveness of public expenditures and their institutional framework. Bulgaria has made substantial progress toward long-term macroeconomic stablility. Growth has been re-established, per capita income has improved, inflation has remained low, poverty has been reduced, and the external debt to GDP ratio has declined. Furthermore, the share of the private sector in the economy is increasing, major regulatory reform is underway, the banking sector is on more solid footing, and energy pricing reforms are improving efficiency, and reducing the fiscal burden. But challenges remain in the five sectors looked at - education, health, social protection, the state railways and energy sectors.
Progress Toward the Unification of Europe
Ten countries of Central and Eastern Europe and the Baltic (CEECs) are candidates to join an enlarged European Union (EU) in the years to come. The ten are Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia. This enlargement will bring many opportunities to the both the EU and the candidate countries. For the EU it will bring enhanced weight and influence. For the candidate countries it should mean an improvement of their long term growth prospects by providing access to an open single market. The accession process is providing the impetus for the acceleration of much needed economic, political, institutional and social reform...
Poverty in Albania
Annotation During the ten years of reform, Albania has been buffeted by set backs which led fully 40% of respondents to indicate that socioeconomic conditions have worsened during that period. While informal coping mechanisms have been developed in many communities, these are under stress and threaten to give way.
Subnational Capital Markets in Developing Countries
This publication has been prepared by staff members of the World Bank and selected guest contributors. It sets out a framework to study subnational governments as borrowers and the range of credit markets in which they may operate. It also contains a number of case studies which detail the recent experience of 18 countries in developing markets for subnational borrowers., and offer insights into lessons to be drawn on fostering responsible credit market access within a framework of fiscal and financial discipline. Other issues discussed include: the issuing of municipal debt and its characteristics, and the role of macroeconomic conditions and market development in the success or failure of those borrowings.
Forestry in the Middle East and North Africa
Annotation This book details the World Bank assisted forestry projects implemented in the MENA region over the last ten years. It contains a definition of forests in the region and describes their current status.
Forest Concession Policies and Revenue Systems
Forest concessions have been an important element of forestry and forest management in many countries, including developing countries. However, if sustainable management of tropical forests is to be achieved and deforestation brought under control, the allocation, management, and supervision of forest concessions will need to be strengthened. This study examines the failures of forest concessions over the last 20 years, and highlights the potential gains resulting from concentrating on improving procedures, introducing performance incentives, and monitoring key performance elements.
The TB and HIV/AIDS Epidemics in the Russian Federation
'The TB and HIV/AIDS Epidemics in the Russian Federation' describes the socioeconomic conditions in the Russian Federation and examines how they are influencing infectious disease epidemics. It also discusses the impact of the epidemics on the population, including the incidence and prevalence in the general and prison populations. Finally, this paper presents a description of a mathematical model of improvements in health status possible under various TB control strategies, with implications for HIV/AIDS as well.
