[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108212-en":3,"doc-seo-108212-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108212,962075006959,"Anda","https://ap-avatar.wpscdn.com/avatar/e0002397efbe92a78e?_k=1776741047341049297",8,"Research & Report","Montenegro - Country Economic Memorandum - Towards a Sustainable Growth Strategy","A World Bank economic memorandum examining Montenegro’s growth challenges and outlining policy directions for sustainable, productivity-led development. It diagnoses weak productivity dynamics, limited innovation and green technology adoption, and persistent constraints from regulatory barriers and uneven policy enforcement. The report highlights trade’s role in strengthening sustainable productivity, stresses equality of opportunity to build human capital, and proposes actions to develop a green and resilient tourism sector, supported by practical policy options.","Public Disclosure Authorized Public Disclosure Authorized  \nTHE WORLD BANK  \nMontenegro  \nCountry Economic Memorandum  \nTowards a sustainable growth strategy  \nJune, 2022  \nTable of Contents  \nExecutive Summary ...................................................................................................................................... 5  \n1. Introduction: Why Montenegro needs a new growth strategy? ............................................................ 9  \n2. Boosting firms’ productivity ............................................................................................................... 15  \n2.1. Igniting productivity growth by enforcing fair market competition ........................................... 15  \n2.2. Sustainable productivity growth requires investment in green technology ................................ 22  \n3. Better leveraging trade for sustainable productivity growth ............................................................... 26  \n4. Ensuring equality of opportunity for strong human capital ................................................................ 35  \n5. Enforcing competition and consistent policy implementation to unleash productivity ...................... 38  \n5.1. Removing regulatory barriers to competition ............................................................................. 38  \n5.2. Levelling the implementation and enforcement of policy ..........................................................44  \n6. Enabling a green and resilient tourism sector in Montenegro.............................................................48  \n7. Policy options...................................................................................................................................... 59  \nTable of Figures  \nFigure 1: Economic growth from 2010-21 was comparable to that of other Western Balkan countries but more volatile ............................................................................................................................................... 10  \nFigure 2: Capital formation drove growth, but productivity was stagnant ................................................ 11  \nFigure 3: Over the last 20 years, Montenegro was not able to keep the pace of productivity growth of their peers ................................................................................................................................................... 12  \nFigure 4: Without accelerating growth, Montenegro will converge to the average per capita EU level in 2075 ............................................................................................................................................................ 13  \nFigure 5: Firms in Montenegro lag in terms of investment in innovation and technology adoption......... 16  \nFigure 6. Resource misallocation for whole economy had a negative impact on aggregate productivity. 17  \nFigure 7. Markets seems to reward more productive firms in manufacturing but not in services............ 18  \nFigure 8. Firm exit rates are very low in Montenegro ................................................................................ 20  \nFigure 9. Firms’markups increased between 2014 and 2019 .................................................................... 21  \nFigure 10: Firms in Montenegro lag their peers in adopting green technology and management practices.................................................................................................................................................................... 23  \nFigure 11. Montenegrin firms are energy intensive, especially in manufacturing ..................................... 24  \nFigure 12: The energy consumption of firms in Montenegro is insufficiently regulated by standards, taxes, or levies ............................................................................................................................................ 25  \nFigure 13. Innovating firms emit ","cbCainDro5mSfQCH","https://ap.wps.com/l/cbCainDro5mSfQCH","pdf",1346618,3,1,66,"English","en",105,"# Executive Summary\n# Introduction: Why Montenegro needs a new growth strategy?\n# Boosting firms’ productivity\n# Better leveraging trade for sustainable productivity growth\n# Ensuring equality of opportunity for strong human capital\n# Enforcing competition and consistent policy implementation to unleash productivity\n# Enabling a green and resilient tourism sector in Montenegro\n# Policy options","[{\"question\":\"Why does Montenegro need a new growth strategy?\",\"answer\":\"The memorandum links Montenegro’s growth constraints to weak productivity performance and structural factors that hinder investment, innovation, and market dynamism. It argues that without accelerated, productivity-focused growth, convergence outcomes remain limited.\"},{\"question\":\"How does the report propose boosting firms’ productivity?\",\"answer\":\"It emphasizes fair market competition, removal of regulatory barriers, and consistent policy enforcement. It also highlights the need to support sustainable productivity growth through investment in green technology.\"},{\"question\":\"What policy directions are suggested for trade, human capital, and tourism?\",\"answer\":\"The report recommends better leveraging trade to support sustainable productivity. It also focuses on equality of opportunity to strengthen human capital and proposes enabling policies for a green and resilient tourism sector in Montenegro.\"}]",1784469545,166,{"code":4,"msg":31,"data":32},"ok",{"site_id":25,"language":24,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"montenegro-country-economic-memorandum-towards-a-sustainable-growth-strategy","",{"@graph":36,"@context":85},[37,53,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,50],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":20},"https://docshare.wps.com/document/research-report/",{"item":51,"name":13,"@type":43,"position":52},"https://docshare.wps.com/document/montenegro-country-economic-memorandum-towards-a-sustainable-growth-strategy/108212/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":24,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"Why does Montenegro need a new growth strategy?","Question",{"text":75,"@type":76},"The memorandum links Montenegro’s growth constraints to weak productivity performance and structural factors that hinder investment, innovation, and market dynamism. It argues that without accelerated, productivity-focused growth, convergence outcomes remain limited.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How does the report propose boosting firms’ productivity?",{"text":80,"@type":76},"It emphasizes fair market competition, removal of regulatory barriers, and consistent policy enforcement. It also highlights the need to support sustainable productivity growth through investment in green technology.",{"name":82,"@type":73,"acceptedAnswer":83},"What policy directions are suggested for trade, human capital, and tourism?",{"text":84,"@type":76},"The report recommends better leveraging trade to support sustainable productivity. It also focuses on equality of opportunity to strengthen human capital and proposes enabling policies for a green and resilient tourism sector in Montenegro.","https://schema.org",{"og:url":51,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":46,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":46,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":46,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":46,"category_name":137,"show_sort_weight":106,"slug":138},19,"General","general"]