Liberalisation and privatisation
Current account convertibility
Options: full (full compliance
with Article VIII of IMF Agreement); limited (restrictions on payments or
transfers for current account transactions).
Source: International
Monetary Fund, Annual report on exchange arrangements and exchange
restrictions.
Controls on inward direct investment
Options: yes (controls on
foreign ownership, and/or minimum capital requirements); no (no restrictions
on inward foreign direct investment, except in some cases on arms production
and military equipment).
Source: International Monetary Fund, Annual
report on exchange arrangements and exchange restrictions.
Interest rate liberalisation
Options: full (banks free to set
deposit and lending rates); limited de facto (no legal restrictions on banks
to set deposit and lending rates, but limitations arise from substantial
market distortions, such as directed credits or poorly functioning or highly
illiquid money or credit markets); limited de jure (restrictions on banks to
set interest rates through law, decree or central bank regulation).
Source:
EBRD staff assessments.
Exchange rate regime
Options: currency board; fixed; fixed
with band; crawling peg; crawling peg with band; managed float; floating.
Source:
International Monetary Fund, Annual report on exchange arrangements and
exchange restrictions.
Wage regulation
Restrictions or substantial taxes on the
ability of some enterprises to adjust the average wage or wage bill upward.
Options: yes; no.
Source: EBRD staff assessments.
Tradability of land
Options: full (no substantial restrictions
on tradability of land rights beyond administrative requirements; no
discrimination between domestic and foreign subjects); full except foreigners
(as “full”, but with some differential treatment of foreigners); limited de
facto (substantial de facto limitations on tradability of land, for example,
limited enforceability of land rights, a non-existent land market, or
significant obstruction by government officials); limited de jure (legal
restrictions on tradability of land rights); no (land trade prohibited).
Source:
EBRD staff assessments.
Business environment and competition
Competition Office
Competition or anti-monopoly office exists
separately from any ministry, though it may not be fully independent. Options:
yes; no.
Source: EBRD staff assessments.
Quality of insolvency law
Level of compliance of insolvency
laws with international standards, such as the World Bank’s Principles and
guidelines for effective insolvency and creditor rights systems, the UNCITRAL
working group on legislative guidelines for insolvency law, and others.
Options: very high; high; medium; low; very low.
Source: EBRD
Legal Sector Assessment 2004.
Secured transactions laws
Level of reform assessed in relation
to the EBRD Model law on secured transactions and the EBRD ten core principles
of secured transactions laws. Options: advanced; modern/some defects;
inefficient; malfunctioning.
Source: EBRD Regional Survey of Secured
Transactions 2005.
Quality of corporate governance laws
Level of compliance of
corporate governance laws with international standards, such as the OECD
Principles of corporate governance. Options: very high; high; medium; low;
very low.
Source: EBRD Legal Sector Assessment 2005.
Infrastructure
Independent telecommunications regulator
Options: fully
(institutional, financial, managerial and decision making independence
granted); partially (some elements of independence, but not all four
dimensions); no (no regulator with institutional independence).
Source:
EBRD staff assessments.
Independent electricity regulator
Options: fully
(institutional, financial, managerial and decision making independence
granted); partially (some elements of independence, but not all four
dimensions); no (no regulator with institutional independence).
Source:
EBRD staff assessments.
Separation of railway infrastructure from operations
Separate
entities responsible for track infrastructure and for freight and passenger
operations. Options: fully (institutional separation); partially (accounting
only); no.
Source: EBRD staff assessments.
Independence of road directorate
A road management agency that
is separate from the government. Options: fully (institutional, managerialabd
decision making independence and an independent account); partially (some
elements of independence, but not all four dimensions); no (part of a
government body).
Source: EBRD staff assessments.
Quality of concession laws
Level of compliance of concession
laws with international standards, in particular the UNCITRAL Legislative
guide on privately financed infrastructure projects. Options: very high; high;
medium; low; very low.
Source: EBRD Legal Sector Assessment 2005.
Financial sector
Capital adequacy ratio
Ratio of bank regulatory capital to
risk-weighted assets; regulatory capital includes paid-in capital, retentions
and some forms of subordinated debt.
Source: EBRD staff assessments.
Deposit insurance system
Deposits in all banks covered by
formal deposit insurance scheme. Options: yes; no.
Source: EBRD staff
assessments.
Quality of securities market laws
Level of compliance of
securities market laws with international standards, mainly the objectives and
principles of securities regulation issued by the International Organization
of Securities Commissions (IOSCO). Options: very high; high; medium; low; very
low.
Source: EBRD Legal Sector Assessment 2004.
Private pension funds
Options: yes; no.
Source: EBRD
staff assessments.
Social reform
Share of population living in poverty
Percentage of population
living on less than US$ 2 (in 1993 US$ at purchasing power parity) a day per
person. Selected years.
Source: World Bank, World Development
Indicators.
Government expenditure on health
Expenditures by general
government, excluding state-owned enterprises, on health services including
hospitals, clinics, public health, medicaments, medical equipment and applied
research related to the sector. Expenditures are expressed as percentage of
GDP. Latest available year.
Source: National statistics.
Government expenditure on education
Expenditures by general
government, excluding state-owned enterprises, on education services including
pre-primary and primary education, secondary and tertiary education, and
subsidiary services to education. Expenditures are expressed as percentage of
GDP. Latest available year.
Source: National statistics.
Share of power, water in household expenditure
Share of total
household expenditures used on electric power and water/waste-water services.
Estimate based on the poorest 10 per cent of households (lowest income
decile), latest available year.
Source: EBRD staff estimates, based on
household survey data.
