Labor markets in the Western Balkan countries (Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro, and Serbia) are characterized by some of the highest unemployment and low employment rates in Europe. We analyze the poor labor market outcomes in these countries by comparison with the New Member States of the European Union and advanced European economies. Our findings suggest that long-lasting labor market weaknesses in the Western Balkans have structural roots: the institutional setup of the labor markets, labor cost factors, and especially the unfinished transition process. Finally, we offer policy recommendations for boosting job creation.

Labor markets in the Western Balkan countries (Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro, and Serbia) are characterized by some of the highest unemployment and low employment rates in Europe. We analyze the poor labor market outcomes in these countries by comparison with the New Member States of the European Union and advanced European economies. Our findings suggest that long-lasting labor market weaknesses in the Western Balkans have structural roots: the institutional setup of the labor markets, labor cost factors, and especially the unfinished transition process. Finally, we offer policy recommendations for boosting job creation.

This Selected Issues paper analyzes export competitiveness in the Former Yugoslav Republic of Macedonia (FYR Macedonia). Export performance in FYR Macedonia has been strong over the last decade, critically contributing to overall growth. Exports have been re-oriented toward new products with higher technological content, allowing for the build-up of revealed comparative advantages in these products. The analysis based on Constant Market Share analysis shows that the overall competitiveness gap of FYR Macedonia with respect to other emerging European countries has narrowed. There appears to be significant room for quality improvement, including for the most successful export products. Although the contribution of exports to GDP growth has been significant, spillover into the domestic tradable sector from the foreign investment led export sector remains limited so far.

This volume argues that a renewed commitment to sound macroeconomic policies and structural reforms is needed for countries in South East Europe, or 'the Balkans' achieve to sustainable prosperity, along with enhanced support from the international community. New fiscal and financial architecture has valuable lessons for policymakers in SEE.

This open access book addresses the important and neglected question of older workers who are excluded from the labour market. It challenges post-capitalist discourses of active ageing with a focus on restrictive end-of-career and retirement measures. The book demonstrates how a paradigm shift is generating real processes of exclusion for important sectors of the population. By providing strong empirical evidence from different contexts, the impact of different life course trajectories on the risks and the opportunities at the end of career are demonstrated. The organisation of workplace and institutional frameworks which reinforce inequalities are also presented. As such the book is an essential reading for students, academics and policy makers who seek to understand how exclusion processes operate to the disadvantage of older workers in the labour market.

Stagnant global trade, subdued investment, and heightened policy uncertainty marked another difficult year for the world economy. A subdued recovery is expected for 2017, with receding obstacles to activity in commodity exporters and solid domestic demand in commodity importers. Weak investment is weighing on medium-term prospects across many emerging markets and developing economies (EMDEs). Although fiscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies. Global Economic Prospects is a World Bank Group Flagship Report. On a semiannual basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through in-depth research in the January edition and shorter analytical pieces in the June edition.

The Western Balkan countries have some of the lowest female labor force participation and employment rates across Europe. Almost two-thirds of working age women in the region are either inactive or unemployed: a huge bite into human capital for a region that endures high emigration and faces declining working age population. The paper uses both macro- and micro-level data to explore what explains low participation and employment rates among women in the region. Our findings show that improving educational attainment, having a more balanced family leave policy, and reducing tax wedge help improve participation of women in the labor force. However, these measures are not enough to notably improve employability of women, which require stronger growth supported by robust institutions.