There is a growing Albania Phone Number List literature on the impact of structural factors on convergence, though mostly on larger panels of countries. Findings suggest that domestic financial development speeds up convergence and that human Albania Phone Number List capital is more important to growth for countries that are less developed. Better institutional infrastructure and selected labor market reforms have been shown to facilitate convergence at the regional level (Che and Spilimbergo 2012). Reform priorities for sustaining convergence have been found to Albania Phone Number List vary with income levels.
Empirical evidence Albania Phone Number List suggests that in lower-middle-income countries, priorities should be reforming banking and agricultural sectors, reducing barriers to FDI, increasing competition in product markets for a more vibrant Albania Phone Number List services sector, improving the quality of secondary and tertiary education, and alleviating infrastructure bottlenecks. In upper-middle income countries, boosting productivity growth would Albania Phone Number List require deepening capital markets, developing more competitive and flexible product and labor markets, fostering a more skilled labor force, and investing in research and development and new technologies (Dabla-Norris and others 2013).
Finally, a survey of Albania Phone Number List various studies that focus specifically on the transition process concludes that institutional quality and market liberalization policies to promote private sector growth have a positive impact on economic Albania Phone Number List growth, despite their initially disruptive effect. In line with these findings, the analysis here shows that improving the quality of governance, and developing market-oriented institutions Albania Phone Number List , a strong human capital base, and deeper financial systems help poorer countries catch up. In contrast, the dominance of the public sector in the economy hinders the catching-up process. And the Western Balkans have lagged behind the.