This book compares the recent evolution of the structure of inputs and expenditure in Armenia's general education with international norms and practice. In the context of the government's sectoral reform strategy, it also outlines various proposals for restructuring the system. The study clarifies what inefficiencies might mean for future costs and performance of the system, highlights the trade-offs involved, and identifies measures needed to overcome constraints to rationalization.

This report examines the existing constraints and opportunities to implement a catastrophe insurance system which can resolve the key obstacles currently impeding broader implementation of a risk funding approach. The four main pillars in such a strategy involve: strengthening the insurance sector regulatory requirements and supervision; establishment of broad based pooled catastrophe funding structures with efficient risk transfer tools; promoting public insurance policies linked to programs for loss reduction in the uninsured sectors; and strengthening the risk assessment and enforcement of...

Although the four countries considered in this study are the most developed transition countries in Europe, their average wages are only a fraction of West European levels. While the labor costs would theoretically give the Central and Eastern European (CEEC) countries an advantage, capital shortages and the lack of skills required for a market economy prevent its use. The report was prepared under the auspices of the World Bank by Peter Havlik, Deputy Director of the Vienna Institute for International Economic Studies (WIIW). This report reviews wage and labor productivity developments and...

Bulgaria is recovering from a severe economic and financial crisis that followed more than five years of macroeconomic mismanagement and timid attempts at restructuring the economy and transitioning from plan to market. The last three years have witnessed a rapid turnaround in achieving macroeconomic stability and implementing a solid economic transformation program. As a candidate country for accession to the European Union (EU), Bulgaria, in the years ahead will need to establish stable, well-regulated and competitive financial markets and institutions. This entails adapting its legislative...

As the ongoing political and economic transition in the Central and Eastern Europe countries (CEE) moves into the next century, the most advanced countries in the region are preparing to deal with their prospective entry into the European Union. More a process than an event, joining the EU is likely to place heightened demands on public administrations throughout the region. To assist these countries with their efforts, the Bank conducted a study of the regions. The results of that study are included in this volume. 'Ready for Europe' specifies and clarifies the administrative requirements of...

Although the official rhetoric in most transition economies has been in favor of foreign direct investment (FDI), few countries have succeeded in attracting sizable inflows. Hungary stands out among those countries that have done so effectively. Several factors helped Hungary to get ahead of other transition economies in terms of attracting FDI. This volume analyzes Hungary's achievement, the scope and depth of FDI and the effect of FDI on Hungary's economy and foreign trade. This report will interest European Union member and candidate countries, foreign ministries, think tanks, and...