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Croatia - Economic Recovery Development Policy Loan (ERDPL) Project (Inglês)

Ratings for the Economic Recovery Development Policy Loan (ERDPL) Project for Croatia were as follows: outcomes were moderately unsatisfactory, the risk to development outcome was substantial, the Bank performance was moderately unsatisfactory, and the Borrower performance was moderately satisfactory. Some lessons learned included: work closely with the Government and other development partners, support the Government’s program based on a strong analytical foundation, work closely with sector specialists and focus on a few achievable objectives that have the greatest impact. In evaluating implementation and outcomes, two lessons in particular have been identified to inform future development policy lending operations in Croatia: Be aware of the risks in embarking on a programmatic two-loan series in an uncertain macroeconomic and political environment; and Moderate ambition in identifying outcome targets. The evaluation of outcome indicators faced three problems: (i) most outcome indicators were set as a percent of GDP and understated the policy effort when nominal GDP stagnated (wage bill control, pensions); (ii) in some cases (labor reforms) the link between the outcome indicators and underlying reform measures was very tenuous; and (iii) in some cases (doing business reforms), outcome indicators were set for the entire sector (institutions score) while the reforms supported by ERDPL affected only a small segment of the sector.


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    Conclusão da Implementação e Relatórios sobre Resultados

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    Europa e Ásia Central,

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  • Nome do documento

    Croatia - Economic Recovery Development Policy Loan (ERDPL) Project

  • Palavras-chave

    Administrative and Civil Service Reform;European Bank for Reconstruction;labor force participation rate;legal point of view;efficiency of service delivery;Regulation and Competition Policy;real per capita term;pay as you go;public sector wage bill;small and medium enterprise;public sector human resource;labor force survey;current account deficit;Private Sector Growth;fiscal responsibility framework;public sector employment;assessment of outcome;global financial crisis;financial impact assessment;croatian national bank;fiscal consolidation effort;human resources information;weights and measure;assessment of risk;household budget survey;improvement in governance;state owned enterprise;social assistance program;labor market participation;personal income tax;labor market issue;performance based budgeting;Science and Technology;trade and transportation;spatial data infrastructure;labor market reform;implementation of reform;sustainable fiscal policy;improvements in management;private sector share;Public Administration Reform;relative poverty line;commercial dispute resolution;types of contract;differences in wage;upper income group;state property management;liquidation of state;privatization of state;intermediate outcome;total wage bill;access to information;long-term fiscal sustainability;macroeconomic and fiscal;Improving Labor Markets;statistics and information;Compulsory Health Finance;ratings of bank;medium-term macroeconomic framework;Rule of Law;fight against corruption;financial sector stability;Exchange rate policies;exchange rate policy;outcome indicator;outcome targets;fiscal rule;fiscal deficit;reform effort;accession process;pension reform;pension spending;national account;Labor Law;domestic demand;political situation;state aid;retirement age;means testing;disciplinary measure;hospital consolidation;Labor Union;unemployment benefit;public expenditure;payroll system;real time;fiscal vulnerability;external account;debt crisis;drug cost;job loss;fiscal discipline;primary balance;pension system;government deficit;Health Workers;real gdp;public debt;early retirement;fiscal indicator;public health;baseline data;Judicial Reform;Exchange Rates;political transition;ruling party;Higher Education;state insurance;domestic liquidity;census data;active labor;baseline indicator;debt repayment;take time;bond issue;labor reform;fiscal statistic;sovereign rating;corrective action;macroeconomic situation;fiscal squeeze;currency depreciation;reform measure;draft legislation;results framework;program outcome;fiscal framework;candidate countries;reform outcomes;long-term growth;skill mismatch;consensus forecast;international partners;judicial decision;foreign debt;exogenous factor;external stakeholder;public support;privatization agenda;business environment;external demand;Macroeconomic Stability;government response;government spending;fiscal impact;budgetary framework;anticorruption effort;regulatory barrier;social partner;court system;public statement;medium-term framework;cash account;bankruptcy system;Business Registration;construction permit;state involvement;fiscal implication;independent opinion;public perception;accession negotiation;enterprise sector;national legislation;Country Maps;financial agency;active engagement;obligatory reserve;development partner;commercial loan;real value;commercial market;euro market;Tax Administration;external partner;foreign exchange;youth unemployment;assessment system;restructuring plan;legislative proposal;tax policy;retirement date;land administration;export finance;international community;Regional Studies;regular meetings;pension sector;economic slowdown;legal condition;exchanging views;economic recession;financing need;external reserve;consumption decline;currency stability;administrative measure;reserve requirement;economic crisis;unsatisfactory performance;fundamental right;compulsory pension;labor regulation;foreign investor;incidence analysis;primary author;economic recovery



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