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Croatia - Country assistance evaluation (Inglês)

This Country Assistance Evaluation (CAE) provides an assessment on the role of the Bank assistance to Croatia during 1991-2003. Since 1993, the Bank lending initially emphasized on reconstruction, followed by public finance reform, growth, and public administration and judicial reform. Although the government refused throughout the 1990s to carry out economic and sector work (ESW), these have since been implemented, together with Country Economic Memoranda that detail clear reform priorities. The reconstruction loans had successful outcomes; however, operations to reform public finance had mixed success. Despite some reforms (such as pensions and health) initiated in the 199O's, these were not wide-ranging, and public expenditures continued to grow with little retargeting. The privatization program was flawed, and financial sector reform was successful. Operations to accelerate growth also had mixed impacts. On the basis of the above, on the low impact of ESW, and slow progress by the government on economic reforms, the overall outcome of the Bank assistance program is rated unsatisfactory through FY0l. Subsequently, with accelerated reforms, the overall outcome of the Bank assistance program merits a rating of satisfactory. Sustainability is likely given Croatia's determination to join the European Union (EU), though the institutional development impact was modest for the first time period, but substantial for the second. The contrast in outcome ratings suggests that ambitious adjustment, and assistance programs should not be pursued when governments are not convinced of the need for reform.


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    IEG Evaluation

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    Europa e Ásia Central,

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    Croatia - Country assistance evaluation

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    public expenditure;public sector expenditure;Privatization;financial and enterprise sector;Public and Publicly Guaranteed;economic and sector work;legal framework for privatization;bank regulation and supervision;regulatory framework for trustee;per capita income;current account deficit;country assistance strategy;public sector deficit;public sector wage;Country Assistance Strategies;capital market development;import of goods;structural adjustment program;capital market reform;primary care physician;total external debt;Public Expenditure Policy;tertiary health care;Public Expenditure Management;primary health care;access to oil;gdp growth rate;foreign trade regime;health care system;venture capital fund;short term credit;current account balance;public health programs;free trade agreement;competitive private sector;private sector enterprise;errors and omission;access to precedents;institutional development impact;Labor market rigidities;labor market rigidity;income support scheme;cost of employment;agricultural land market;commercial court judge;strengthening budget management;public expenditure program;good corporate governance;economic policy making;foreign exchange receipts;Foreign Exchange Reserve;management and administration;public procurement law;demand for transport;public telephone company;Oil & Gas;financial sector development;Oil and Gas;competitive gas market;competitive electricity market;health for all;movement of worker;social protection sector;market economy;adjustment lending;base case;public finance;transition country;flood control;promoting growth;transition countries;open economy;business warehouse;debt burden;social assistance;government support;physical infrastructure;budget deficit;legal reform;fiscal deficit;worker remittance;protected area;governance reform;improving infrastructure;child allowance;large enterprise;banking sector;investment grade;idf grant;power company;work force;inflation average;Advisory services;federal republic;potential candidate;border crossing;democratic process;grant funds;transport route;reform laws;agriculture sector;administrative barrier;effective regulatory;identified barrier;family farmers;fiscal restraint;economic recession;Death rates;Land Registry;government action;seed development;Public Spending;community reconstruction;privatization arrangement;career stream;improved training;procurement problems;standard procedure;evaluation system;live birth;procurement profession;insider buyout;lack transparency;operational efficiency;syndicated loan;bank finance;privatization process;pharmaceutical company;successful financial;internal assessment;security market;trade cooperation;market institution;refugee program;real sector;capital flow;mutual right;Leasing Law;private mortgage;wood processing;energy law;administrative court;procurement administration;local demand;court system;merchandise export;contract negotiation;procuring entity;public ownership;economic reform;government ownership;productive sector;core functions;judicial court;judicial sector;borrower's performance;Social Welfare;resource mobilization;poverty alleviation;adjustment operation;summary ratings;baltic countries;future bank;methodological approach;positive impact;Job Creation;security concern;net result;judicial system;reform priorities;privatization program;satisfactory rating;Company Law;Enterprise Development;temporary employment;enterprise performance;Judicial Reform;political dialogue;private consumption;public debt;budgetary support;generally well;unemployment rate;investment level;rail lines;fixed investment;planned economy;improving governance;secondary facility;quantitative restriction;trade monopoly;sectoral reviews;social spending;civil society;highway program;administrative support;Civil War;government agreement;important component;outward orientation;credit expansion;deficit spending;fiscal adjustment;tangible asset;investment operation;real gdp;real wage;budget process;service company



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