Building Market Institutions in South Eastern Europe: Comparative Prospects for Investment and Private Sector Development

373 Pages·2004·76.3 MB·English

by  Harry G. Broadman, James Anderson, Constantijn A. Claessens, Randi Ryterman, Stefka Slavova, Maria Vagliasindi, Gallina A. Celette

DIRECTIONS IN DEVELOPMENT

Building Market
Institutions in South
Eastern Europe

Comparative Prospects for Investment
and Private Sector Development

Waray 6, GrosowAn, James ANCEREON.
ero A Cates, ane RENAN.
Sterna ScavovA, hana Vaan
no Gauuina A vacruerte
Building Market
Institutions in South
Eastern Europe

Building Market
Institutions in South

Eastern Europe
Comparative Prospects for
Investment and Private

Sector Development

Ilamy G, Broadinan, James Anderson, Constantin A.
‘Claessens, Randi Rytenmen, Stefka Slavova,
Maria Vagliasindi, and Gallina A. Vincelette

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Contents

Forevsord
Acknovledganents

Building Mavket Institutions ia South Eastern Europe—
‘An Overviews

Abpbrevlations

1. Instiutional Aspects ofthe South Eastem European Economy:
Introduction, Trends, and Scope of the Study
Background
Trends in the SEB! Eonsomies
Spe and Melhseoingy’ ol the Suds
inter o the Sakty

2 Institutional Relonmn Progiess to Date and Remaining
{Challenges in South Eastern Eucope
Aggragrle Assesment ofthe users Eavimnment in SE
Inetitutional Impecizents te Invesimaa and Geol
CConelusion. The Lnreatved Insitusenal Peo
invgourh Easlen Earnpe

4. Competition fa South Eastern Europe
ave pment a the Private Sector and Prospects fon
‘Compe tis in SRR

Sinisturs’ Canluions far Competition fn SRR: Fivizoata
ped Venicn loners

Asseesment of Fy and Fl Rarviers

IusinessPestormance and Compete

Polises tn Fahance Camplin in Sonth Fasten Faraps

Saliatical Annex
4, Access to Regulated Infrastructure Dies ws
Tous, cis, and Qhuliy af Service ass Counts it
Tnfgseusan’s Aces asd Oually snes Peet icrpeses?

Cherattorsies 1
Priaale Sco Tnvolvemen! and Tndepnence
ef Ruler vee

Ri ea Tnrstrunties Pevelopient in Fostering Fasesimn
tn he Rea Sector ta in Regional Tlcgration

Policy Recummersltions
5. Corpurate Ownership, Bingneial Transparency,
and Access ta Finance 2
Twice za
Forms of Qenershigt oo
Teansysnny nd Acton Fr Frans m0
Acces to Fe pat
Franc Thssturey,Tnvestenen nel Grows 218
Policy Regunereltious oe
Anioe: Bains Analyses 8
6, Resulving Business Disputes in South Faster Eunupe:
The Rule of the Courts 29
Auction of Business Dips 288
Gon Fringes is Ch a0
Fira’ Ut he Coals a2
Perception CouetPevtrrane ly Cael Users cal
Twas Carrupl es we
Policy Tnypteatigns a0
Shite Annee ae
2A The Furypen Cleator soe Sill Pserpes ”
52 Challenges in Falablnling «Mierke Rorkraphy
Tali is Abana aed sis snl Herning a
2.3 Forge Proms sl Secs fr Reset
i FYE Macon, 5
2A Traphrmentatign Problene in Molds 56
23 Winer Challongsin Alora 58
2.5 Toit al Hunde tp Peel ation 19 Bessa
aed Hersegei we
22 Covbatny Corruption in Bulgar Meu
Publi-Pueale Paras 3
2S Tan Roker in Roms Wnty al
Tackling ae Probl a0
BRO wcrs Cage Png %
42 Manton Number nf Campwtoes

Sa The"HamneCaano Conslen tion Sete SFP

SA Mik Deeninanceand Antiimpet ive Ping, SFR

35. Wlwsl Tatageatann sa the South Basar Fanep Fed
Pravin al Reailng, Stee

36 Wik Binns! Dessptie Pslays tbe ll TrseMakoos
ona! stash Taf Capa

AP Boel Tayelly aga Bac a Faleg: The Case of Fad
Pravesag al Rea,

41 non Playing, Fea the Fooegy Secor

42 Tiny Pring

42 Flirty Criss on Albania

$4 Fre af Fewalira bo Tfess wt. Raines Ts

15 Felilishinpa Camas ier Mua Marke

Sip THecsunutyetian Tisai Nhe SRS

7 Puehipmen Tasporten sv Mkdowa

G8 Regonal Farngy Mirko

4 Regvonal Caoperatan in Boss Manngennen

SNH Tune Fle alan Alf! Tolman aie
Tahini?

G1 The Mis np of Siang Puvate Cink Slaks Chaves
in Bina tnd Heezegavn

52 Penlsvatizainn Concent in Bgaei

5 ThePori af Pastal Privalzsin fr a Calan Fran

5a TheTinklutcon Awomnling, nd lispetoel
Refarme sa Movs

55. Firm Skepta nf Asis Af

Sm The Presid Caan af Barto in Cava nl Romania

RP Asves Faveal Pring in Aan ac
FYR Masaki

1 HoT Fire Avil Brass Tops?

2. Theo fBrsinens Astana in Resng
Connect Dispnte

fang Pipynwnl to Resduve Cony mctual Rick

Ba Female ara eH Colletian Car Pupcshie

B5 Whirh Fre Us MheComrt

fis Hove An the-Conele Porvivea?

AP Thaguloe vor Tod Quon

AS Resilving Payinonl Psp th Pe Cavern

Figues.

11 Prageess te Tension wf te SER Sl Sl
Drisatoa en TangteSesle Pesci tad rica
Serko Shire in Outpt

12 Registonsl Tnerplynnt os the SERS, 1994-20

0
Ties af Trade nh SFP
flrs nf Foon Tract Teast i ae SPR,
ce

slits Desolapivat af Rysiness Star and

Fawcige Tost erste he SERB a
Aggregate Asweenen! a “sian Rares iy

Finines Freimonon!w Hhe SERS, 1900 4d 20? a
InsitutipnatPrageess ine SFFB, 1999 a8 XD os

(Change in Avenige Finplayne hy Fler

Csr, 10H? a
Fir il Sutin at Aroaes in Tw SFFA onloe

RFPS ind BEFPS? 8
Avsossane of Quay Tafestater a
Taipest Shoeobulde"s Tenby in Srey ies, 20a
Fistral harkoure and Tanspeunmney a
Fisuning a tar Io Bntorpres ofp fo
Aggregale Tioslivenvse nf te diary *
Nuunfacrf Comoe oes by Orono Type,

1098 a 2 o
Nunincrf Camgeioes by Cantey, $900 and 208 m

Sah In Cee mnia P o y r se
Type an by Country, 287

Fis il alin or Cou ins cnasids Tie Hae
Contes, 2K

Fyurieal Sis Soily ty afl 9 1 Peso Prise Tova,
by Fin Marka Shar, 02 ns
Faure Sees Soi Ly afl 9 1 Peso Prise Tova,

bhp Numinoe of Campton, 212

Niunnacr Mito pat Supp ors hy

Country, 202

Firms ih Mi Than Toe Miser Typ Suppo,

by Cerner Typ and hy Contry, 20 ne
Torso Supply Resale Fins w ha T east

2 penn of Marl Tv ee Suppor: Mid
ioral Wars 3002

Reluaasr Taypori Topsy 3902

[oy Birr lv Fey SFP 2

Avenige "Brae Tie’ Pak in SPF, hy

Firm Csvnrshap, 212

{Gaseeninnt Sesidi hy Fe Chic Tp 20
Grsemnignd Seis Sot ST

‘Annual Csnpos in Salt Rewens, Papas,
Fnnplnymeml, Tovestnen's in Fixed Aslan

Dia Maps, ly Coun, BSH is
RUS Annus Changs in Sales Revenues, Fp,
Fnnplnymonl, Tovestnen's in Fixed Asols, anal
Dial Maps, ly Coes, BSR is
SAP Annual Chanpos tn ales Rovers, Paps,
Ennplnyrenl, Tovestnen's in Five Asols anal
Draft Margins, hy Sect, 15-08 an
S18 Annual Chanps tn Sales Revenues, aps,
Fnnplnymenl Tovestnen's in Fixed Ascoli
Draft Margins, hy Sete, RAAT ut
S19 Annual Cranpos in Sales Rowen, aps,
Fnnplnymem, Tovestnen's in Fixed Avols anal
Dial Maps, ly Oeenort, 15-88
82 Annual Chanpos tn Sales Revers, Fp,
Fnnplnymeml, Tovestnen's in Fixed Aveda
ral Margins, hy Chen, FASE 2001
S21 Dhavinla sa PhlletnSilos Ra wo iy Const, by
Sort nd by Cenvese Ty
Infssenlum-Relaoed Barris by Sols
Tfesenslin-Rolaied Arsmaee

TfeeusiimRolaled Arnears aries Chaos Clases,

‘alge far Tteaenc inne Sori
Tinos cB eng Ts
Tasismunnaian Serva

2
4 Watling Tite far Tn taser oevieen

inovenness in Cages far Toecominunialin Sony
38 insvonnesac Wt ry Tats fn Pawo eviews
4 insvenness in Chuan fr Power Sore
3.10 inovennes in Ohlagen fr Bt Arve
LH Urn and Rural Aston lo Wale Servis
LD Feet af Tiseownent Replat a
Perfomance hadistons
$513 Busines 5 4f Toyota Services
14 Tarcramunestian Pedra
115 Risa Ta
S18. C ashame nl Tease Ropution Bares
LIP Fapw-Rebatnd Tay
SIS Tpr-Relate Tislays
LI Ralinsof Resemne Collosistpor Shlf Pen
BU Finan Thana, a Repel Dy iets,
oon STP Cit on
52 Pavalizal en, Bleep Resectting,

5 Fite Repatr ng Uke Talernaianal Asceunting,
Stand 19nd 2003 os