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Josip Jezic von Gesseneck    2016-11-02

EBRD revising transition concept

EBRD updating metrics of market economy

Regional


EBRD revising transition concept (source: http://www.ebrd.com/news)

The EBRD is revising its market transition concept for 2017 to describe a well-functioning marketing economy as not only competitive, but furthermore also inclusive, well-governed, environmentally friendly, resilient and integrated.


The EBRD is redefining its 1997 concept of market economies to place more focus on efficient state institutions. Market and state are not substitutes, they complement each other. Thus the new transition metrics will target to improve the quality of both state and market institutions.

This means that market transitions must inclusive and well-governed so that they are not only environmentally but also politically and economically sustainable. By being inclusive and resilient, the transitions maintain their impetus through difficult economic challenges. Beyond inclusion at a national level, eg. between different ethnic, sex and age groups, inclusion also pertains to international level. Thus not only is environmental sustainability supported, but also the longer-term success of the transitions through international cooperation.

In the spirit of sustainable market transitions to benefit all layers of society, the CHAMBER.BE fully supports EBRD projects in the region and in particular the exchange of experience between the stakeholders in the Southeast European region. ■