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Europe > Slovenia, Republic of

You are looking at 1 - 7 of 7 items for :

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Cover Technical Assistance Reports
Republic of Slovenia: Technical Assistance Report-Public Investment Management Assessment
International Monetary Fund. Fiscal Affairs Dept.
Slovenia’s public investment management institutions, as assessed by the PIMA, perform well overall relative to European peers. Availability of funding for public investment, fiscal targets and rules, maintenance funding and monitoring of public assets are areas of strength. Key areas for improvement are appraisal and selection of projects, procurement, and portfolio management and oversight. The near-term challenge will be to address bottlenecks in the execution of capital projects. Over the medium to longer term, tighter fiscal constraints will raise the premium for stronger appraisal and selection processes.
Keywords:
Public investment management assessment; PIMA; Infrastructure governance; project appraisal; medium-term fiscal planning; Republic of Slovenia.; State secretary; IMF's Fiscal Affairs Department; D. investment implementation; management institution; C. investment allocation; Public investment spending; Budget planning and preparation; Infrastructure; Fiscal risks; Capital spending; Eastern Europe; Europe; Global
Cover IMF Staff Country Reports
Republic of Slovenia: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper focuses on boosting productivity in Slovenia. Slovenia’s ageing population sets a constraint on the contribution of labor to gross domestic product in the end.Only achieve sustained increases in income and living standards can, therefore, through investment in physical and human capital and, more importantly, through enhancing productivity, historically the key growth driver. This paper summarizes historical trends in growth and productivity in Slovenia, examines the country’s strengths and weaknesses in terms of key factors affecting productivity identified in the literature. Since the scope for future labor contributions to growth in Slovenia is limited for demographic reasons—apart from further improvements to labor quality—the focus of economic growth policies should be on reinvigorating private investment, which has been low over the past decade, and pursuing labor and product market reforms that boost total factor productivity growth.
Keywords:
productivity trend; firm leverage; labor market indicator; I. shift share methodology; EU growth composition; Productivity; Total factor productivity; Labor force; Private investment; Europe; Central and Eastern Europe; Global
Cover IMF Working Papers
Emigration, Business Dynamics, and Firm Heterogeneity in North Macedonia
Ninghui Li
and
Thomas Pihl Gade
High emigration rates are a challenge in the Western Balkans. High emigration rates might lead to inadequate skilled labor and affect firm creation, capital formation, and economic convergence. The 2021 North Macedonia census reveals that more than 12.4% of North Macedonians live abroad. To assess the consequences, we estimate the impact of emigration on the number of firms and capital formation. Business dynamics can affect emigration reversely. To alleviate the endogeneity bias, we use a shift-share instrument with the historical diaspora networks and destination countries’ GDP growth rate as a source of exogenous variations. Our results show that (1) In the short run, a 1 percentage point increase in the emigration rate leads to a 2.91% decrease in the number of firms in the area of origin; (2) The long-run effects of emigration on the number of firms are less negative than the short-run impacts; (3) Emigration mainly reduces the number of micro and small firms; (4) Emigration affects the number of firms and capital formation more in the industrial sector than the other sectors, through the skilled labor shortage channel. This paper contributes to the literature on emigration and provides implications and policy considerations for developing countries, where high emigration rates are prevalent.
Keywords:
Emigration; Labor market; Firm dynamics; Capital formation; North Macedonia; Panel data.; emigration rate; business dynamics; firm Heterogeneity; emigration challenge; emigration effect; Migration; Unemployment rate; Industrial sector; Labor markets; Labor shortages; Global
Cover IMF Working Papers
The Fiscal Multiplier of European Structural Investment Funds: Aggregate and Sectoral Effects with an Application to Slovenia
Mr. Raphael A Espinoza
In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first analyze aggregate data and find large and significant multipliers and strong crowding-in of private investment. Our main findings show that positive shocks to ESI Funds are followed by an increase in output that ranges from 1.2 percent on impact, to 1.8 percent after 1 year, and by an increase in private investment between 0.7 and 0.8 percent of GDP. We address country heterogeneity by dividing countries according to key characteristics that have been known to affect multipliers. In particular, we find higher multipliers in a group of CEE countries that are important recipients of European funds and are characterized by fixed exchange rate regimes and sound public investment governance (e.g. Croatia and Slovenia). We also complement the aggregate analysis by estimating the effect of different types of public investment and the effect of public investment on different sectors of the economy.
Keywords:
aggregate multiplier; sectoral multiplier; aggregate analysis; public investment; impact multiplier; Public investment spending; Private investment; Public employment; Manufacturing; Employment; Eastern Europe
Cover IMF Working Papers
Current Account Imbalances in the Southern Euro Area
Ms. Florence Jaumotte
and
Piyaporn Sodsriwiboon
The paper examines the causes, consequences, and potential cures of the large current account deficits in the Southern Euro Area (SEA). These were mostly driven by a decline in private saving rates. But it was the European Monetary Union and the Euro, which enabled these countries to maintain investment rates, and thus run larger current account deficits, by improving their access to the international pool of saving. The paper finds that the deficits in SEA in 2008 were larger than can be explained by fundamentals, though the situation varies substantially across countries. It also finds that although the global financial crisis has started to force some unwinding, the current account deficits are expected to remain high in the medium run, though again with substantial variation across countries. The paper argues these large external deficits pose risks to the economy and therefore matter, even in a currency union, and discusses some policy options to reduce them.
Keywords:
WP; euro; deficit
Cover IMF Staff Country Reports
Republic of Slovenia: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; Slovenia; goods; equity capital; CEFTA country; net error; reinvested earnings; capital goods; investment Thai; long-term debt; Social security contributions; Consumption taxes; Gross fixed investment; publication policy; reader comment; publication service; appendix paper; Value-added tax
Cover IMF Staff Country Reports
Slovenia: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; Slovenia; enterprise; enterprise sector; retail price index; Slovenia's share; profit-making company; share of debt; real value; tolar deposit; long-term debt; Slovenia's share of debt; business service; health establishment; batik of Slovenia; Consumption; Pension spending; Imports; Transportation