This tends to reduce labour force participation, as older people are less likely to have a job, or be looking for a job, than are younger people. Our estimate is that this ageing effect, by itself, has reduced the participation rate by around 1 percentage point since the mid 2000s.
New initiatives Initiative has been started in BiH for the establishment of capital market, as one of the segments of the total financial system. In this respect, guidelines for work have been set up. Accordingly, Capital Market Council has been recently established and its work scope defined.