Chapter 1

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Education policies 20 Basic education 21 Vocational training 21 Tertiary education 22 Health care and social security 22 The environment: growth and sustainability 23 Environmental institutions and policies 24 Paying the price for resource use and degradation 25 Industrial pollution 25 Tourism and coastal zone management 26 Conclusions 27 Infrastructure services: global integration, efficiency, and dynamism 27 Social services: quality, access, and financing 27 Environmental management: analyzing trade-offs 28 Notes 28 Chapter 3 Strengthening market forces 29 Creating an open, competitive economy 29 Itade liberalization 29 Impact of trade liberalization 30 A free trade agreement with the European Union 30 Domestic investment liberalization 32 Foreign investment liberalization 33 Offshore companies 33 Pricing, labor, and industrial policies 34 Price liberalization 34 Labor markets 35 Policies to promote innovation and quality: "La mise a niveau" 37 Reforming agriculture 38 Increasing the role of market forces and strengthening private initiatives 38 The land tenure system 39 Financial sector reform 39 The banking sector 40 Financial markets-stocks, bonds, mutual funds, and institutional investors 41 The stock market 41 The bond market 42 Insurance and pension funds 42 Conclusions 42 An open, competitive economy 42 Pricing, labor, and industrial policies 43 Reforming agriculture 43 Financial sector reform 43 Notes 44 iv TUNISL'S GLoBAL INMEGAMON AND SUSTAINABLE DEVELoPmEm. STRATEGIc CHoicEs FOR THE 21ST CENTUR
Chapter 4 Policies for higher growth 45 Growth performance, 1987-94 45 Structural reforms and growth 46 The determinants of economic growth 46 Structural reforms and growth in Tunisia 47 Key macroeconomic indicators: medium-term outlook 48 Conclusions 50 Chapter 5 Challenges of globalization 5I Strategic choices in the 1990. 51 Pace of reform 51 Decisive trade and investment liberalization 52 Refocusing the role of the state 52 Privatization and deregulation 53 Growth and environmental sustainability 53 Sectoral impact from resource constraints 54 Creating an adaptable, agile, flexible economy 54 Transition from public to private sector-led growth 54 Proposed reforms 55 Note 55 Selected Bibliography 59 Statistical Annex 62 Boxes 1.1 Monetary policy instruments, government securities, and foreign exchange markets 3 2.1 Telemarketing in Ireland 19 3.1 Tunisia-European Union Free Trade Agreement: estimated benefits and costs 31 3.2 Free trade zones: maximizing host country benefits 34 3.3 Upgrading the competitiveness of small and medium-sized enterprises: the case of Slovenia 37 Tables 1.1 Nominal and real interest rates 1 1.2 Selected interest rates 4 1.3 Main monetary indicators 5 1.4 Extemal sector indicators 6 1.5 Fiscal indicators 10 1.6 Regional comparisons 10 2.1 Public sector's share of value added (percent share) 16 2.2 Privatization proceeds, 1988-92 16 2.3 Basic infrastructure 17 CoMEnrs v
Page 1: Public Disclosure Authorized Public
Page 4 and 5: Copyright i 1996 The International
Page 8 and 9: 2.4 Demand for telephone connection
Page 10 and 11: Acknowledgments The report is a pro
Page 12 and 13: STIL Soci&e Tunisienne d'Industrial
Page 15 and 16: Executive summary Elements of Tunis
Page 17 and 18: ments and controlling the expansion
Page 19 and 20: Progress in strengthening market fo
Page 21 and 22: investment banking, restructure som
Page 23 and 24: Chapter 1 Macroeconomic policy The
Page 25 and 26: Box .I Monetary policy Instruments,
Page 27 and 28: TALE 1.3 Main monetary Indicators 1
Page 29 and 30: national markets and ensure the sus
Page 31 and 32: domestic production, and inducing a
Page 33 and 34: was actually higher than that for t
Page 35: public banks and enterprises reveal
Page 38 and 39: (10 percent), and Malaysia (12 perc
Page 40 and 41: Infrastructure services: Provision
Page 42 and 43: on a pilot basis and is studying th
Page 44 and 45: or in the public sector. The Bank i
Page 46 and 47: onmental issues and their relation
Page 48 and 49: several industrial zones. Despite t
Page 50 and 51: vocational education more relevant
Page 52 and 53: also showed high effective rates of
Page 54 and 55: try an opportunity to accelerate a
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BOX 3.2 Free trade zones: Maximizin
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largest share of total employment (
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encouraging results and provides us
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ill market and to modernize the leg
Page 64 and 65:
price/earnings ratio of about 25 in
Page 66 and 67:
achieve their intended objectives i
Page 68 and 69:
TABLE 4.2 crisis brought about an 7
Page 70 and 71:
costly process of adjustment, the a
Page 72 and 73:
ented economy The growth of exports
Page 74 and 75:
as a whole, but the related transit
Page 76 and 77:
Land degradation and water scarcity
Page 78 and 79:
TABLE 5.1 Poky otfecdt Short term M
Page 80 and 81:
TABLE 5.2 Complementary reforms (co
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IMF (International Monetasy Fund).
Page 84 and 85:
Statistical Annex TABLE SA. I Exter
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TABLE SA.3 Public sector accounts,
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TABLE Sk6 GNP, output, and governme
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TABLE SA.8 Money, credit, prices, a
Page 92 and 93:
TABLE SA IO Key economic variables,
Page 96:
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Chapter 1

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