TY - BOOK ID - 101240496 TI - Republic of Latvia : Selected Issues Paper. PY - 2016 SN - 1475576269 1498304478 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Exports and Imports KW - Money and Monetary Policy KW - Industries: Financial Services KW - Production and Operations Management KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Production KW - Cost KW - Capital and Total Factor Productivity KW - Capacity KW - Macroeconomics: Production KW - Human Capital KW - Skills KW - Occupational Choice KW - Labor Productivity KW - Macroeconomics KW - Monetary economics KW - Banking KW - International economics KW - Finance KW - Credit KW - Total factor productivity KW - Productivity KW - Labor productivity KW - Money KW - Bank credit KW - Industrial productivity KW - Banks and banking KW - Exports KW - Latvia, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:101240496 AB - The aim of this paper is to examine selected issues related to Latvia’s economic development. Latvia experienced a large macroeconomic adjustment in the aftermath of the crisis in 2007. The adjustment was characterized by internal devaluation via a combination of wage restraint and productivity gains. Latvia’s creditless recovery has taken unusually long to turn compared to international experience. Although lack of credit has not undermined recovery so far, support from the financial sector will be crucial for its continuation going forward. Emphasis on resuscitating credit growth is key to maintaining recovery. Focus should be on facilitating access to credit for small- and medium-sized enterprises and first-time borrowers, where market failures are the largest. ER -