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World Bank - Bosnia and Herzegovina: from recovery to sustainable growth

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title Bosnia and Herzegovina From Recovery to Sustainable Growth World - photo 1

title:Bosnia and Herzegovina : From Recovery to Sustainable Growth World Bank Country Study
author:
publisher:World Bank
isbn10 | asin:0821339222
print isbn13:9780821339220
ebook isbn13:9780585235967
language:English
subjectBosnia and Hercegovina--Economic policy, Bosnia and Hercegovina--Economic conditions, Yugoslav War, 1991-1995--Reconstruction--Bosnia and Hercegovina.
publication date:1997
lcc:HC402.5.B665 1997eb
ddc:338.949742
subject:Bosnia and Hercegovina--Economic policy, Bosnia and Hercegovina--Economic conditions, Yugoslav War, 1991-1995--Reconstruction--Bosnia and Hercegovina.
Page i
A WORLD BANK COUNTRY STUDY
Bosnia and Herzegovina
From Recovery to Sustainable Growth
Bosnia and Herzegovina from recovery to sustainable growth - image 2
Page ii
Disclaimer:
This book contains characters with diacritics. When the characters can be represented using the ISO 8859-1 character set ( http://www.w3.org/TR/images/latin1.gif ), netLibrary will represent them as they appear in the original text, and most computers will be able to show the full characters correctly. In order to keep the text searchable and readable on most computers, characters with diacritics that are not part of the ISO 8859-1 list will be represented without their diacritical marks.
Copyright 1997
The International Bank for Reconstruction and Development/THE WORLD BANK
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing May 1997
World Bank Country Studies are among the many reports originally prepared for internal use as part of the continuing analysis by the Bank of the economic and related conditions of its developing member countries and of its dialogues with the governments. Some of the reports are published in this series with the least possible delay for the use of governments and the academic, business and financial, and development communities. The typescript of this paper therefore has not been prepared in accordance with the procedures appropriate to formal printed texts, and the World Bank accepts no responsibility for errors. Some sources cited in this paper may be informal documents that are not readily available.
The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility whatsoever for any consequence of their use. The boundaries, colors, denominations, and other information shown on any map in this volume do not imply on the part of the World Bank Group any judgment on the legal status of any territory or the endorsement or acceptance of such boundaries.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, Inc., Suite 910, 222 Rosewood Drive, Danvers, Massachusetts 01923, U.S.A.
Cover photographs by SFOR photographer in Bosnia and Herzegovina.
ISSN: 0253-2123
Library of Congress Cataloging-in-Publication Data
Bosnia and Herzegovina: from recovery to sustainable growth.
p. cm. (A World Bank country study)
Includes bibliographical references.
ISBN 0-8213-3922-2
1. Bosnia and HerzegovinaEconomic policy. 2. Bosnia and
HerzegovinaEconomic conditions. 3. Yugoslav War, 1991
-ReconstructionBosnia and Herzegovina. I. World Bank.
II. Series.
HC402.5.B665 1997
338.949742dc21 97-3134
CIP
Page iii
CONTENTS
Preface
vii
Abstract
ix
Acknowledgments
xi
Abbreviations and Acronyms
xii
Executive Summary
xiii
Part One: Building a Framework for Macroeconomic Management
1
Chapter I: Recent Developments and Challenges for Macroeconomic Management
3
Picture 3
The War Brought Near-Total Economic Collapse: 1992-95
3
Picture 4
Initiation of Reconstruction Program Started Economic Recovery: 1996
6
Picture 5
Future Efforts Should Focus on Building Common Institutions and Sustainable Policies
8
Chapter II: Monetary Institutions and Policies for Postwar Stability
9
Picture 6
The New Central Bank Will Function as a Currency Board
9
Picture 7
The Currency-Board Arrangement Creates Several Challenges
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