Download or read book Potential Output Growth Estimates for Central America and the Dominican Republic written by Mr.Roberto Garcia-Saltos and published by International Monetary Fund. This book was released on 2017-01-18 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents estimates of potential output for all Central American economies. Our findings are that potential output growth has declined in recent years in most economies of Central America. Lower capital accumulation and TFP growth are accounting for most of this decline. Apart from Costa Rica, there are no indications of significant economic slack in 2015 in Central America. Looking forward, potential growth in most Central American economies is expected to continue at an average of 4 percent in the medium-term due to structural constraints to capital and employment growth, and low TFP growth. Increasing potential growth, thus, should be a policy priority and structural reforms must be directed at improving business conditions, product and labor markets, and enhancing the capacity for innovation.
Download or read book Potential Output and Output Gap in Central America Panama and Dominican Republic written by Mr.Christian A Johnson and published by International Monetary Fund. This book was released on 2013-06-12 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries using annual data. Main findings are: i) CAPDR potential growth is about 4.4 percent while output gap volatility is about 1.9 percent; ii) The highest-potential growth country is Panama (6.5 percent) while the lowest-growth country is El Salvador (2.6 percent); iii) CAPDR business cycle is about eigth years.
Download or read book Potential Output and Output Gap in Central America Panama and Dominican Republic written by Christian Johnson and published by . This book was released on 2013 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries using annual data. Main findings are: i) CAPDR potential growth is about 4.4 percent while output gap volatility is about 1.9 percent; ii) The highest-potential growth country is Panama (6.5 percent) while the lowest-growth country is El Salvador (2.6 percent); iii) CAPDR business cycle is about eigth years.
Download or read book Inclusive Growth written by Jordi Prat and published by Inter-American Development Bank. This book was released on 2018-02-22 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central America and the Dominican Republic had stable economic growth in 2017. The performance of the United States economy and low commodity prices, mainly oil, meant that the key indicators for the region did not change abruptly. It is worth noting that safeguarding the stability of public finances remains the main challenge for the region. In the short run, we expect the fiscal deficit and public debt to maintain their upward trend, thus putting pressure on interest rates, which would have a negative impact on economic growth. This trend has implied in downward revisions to the region’s economic outlook. Growth in the region has been higher than the rest of Latin America, but its impact on reducing poverty and improve income distribution, has been limited. The report explores options to make growth more inclusive in Central America and the Dominican Republic. It highlights the need to bolster human capital accumulation, take advantage of integration with other trade partners, and generate buffers for political decision-making in a highly uncertain environment, in order ensure that growth can benefit the highest number of people in the region.
Download or read book Paving the Way to Sustained Growth and Prosperity in Central America Panama and the Dominican Republic written by Ms.Kimberly Beaton and published by International Monetary Fund. This book was released on 2019-09-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Accelerating economic growth in Central America, Panama and the Dominican Republic (CAPDR) remains an elusive task. While the region performed relatively well in the post-global financial crisis period, over the last five years obstacles to growth have become more evident and new challenges have emerged. In response, the region has strengthened macro-financial frameworks but more progress will be required to pave the way to sustained growth and prosperity. This book considers the structural factors underlying the region’s growth outlook and assesses its macroeconomic and financial challenges to help shape the policy agenda going forward. The book first identifies the structural determinants of growth in the region related to: capital formation; employment; demographic factors, including immigration; productivity; and violence. It then highlights the importance of creating fiscal space through the design and implementation of fiscal rules and mechanisms to increase accountability (better quality of public spending, adequate policies to reduce income inequality and sustainable retirement plans). Finally, it presents recent evidence on the importance of a supportive financial sector for growth (including through financial inclusion and development).
Download or read book Economic Growth in Latin America and the Caribbean written by Norman Loayza and published by World Bank Publications. This book was released on 2005-01-01 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.
Download or read book Excerpt Paving the Way to Sustained Growth and Prosperity in Central America Panama and the Dominican Republic written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2018-07-23 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an excerpt from Paving the Way to Growth and Prosperity in Central America, Panama, and the Dominican Republic edited by Kimberly Beaton, Roberto Garcia Saltos, and Lorenzo Figliuoli. Over the past three decades, countries in Central America, Panama, and the Dominican Republic have experienced sustained economic transfor-mation. The region has moved away from its rural and agricultural past to a modern and urban present and has significantly integrated its econ-omies regionally and globally. Many factors have shaped the region’s economic performance and are expected to contribute to its future development. The book aims to foster policy dialogue and contribute to the efforts to address the region’s unique challenges. The first part looks at the region’s growth with a view to understanding how structural determinants have contributed to the region’s uneven gains and the resulting priorities to strengthen the foundations of growth. The second part of the book high-lights the importance of addressing the region’s fiscal challenges and supporting growth and improved social outcomes. Finally, the third part of the book emphasizes the importance of a supportive financial sector for growth, including through financial inclusion and development. This excerpt is taken from uncorrected page proofs. Please check quota-tions and attributions against the final published volume.
Download or read book Is the Growth Momentum in Latin America Sustainable written by Mr.Sebastian Sosa and published by International Monetary Fund. This book was released on 2013-05-15 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: A favorable external environment coupled with prudent policies fostered output growth in most of Latin America during the last decade. But, what were the drivers of this strong growth performance from the supply side and will this momentum be sustainable in the years ahead? We address these questions by identifying the proximate causes of the recent high GDP growth and estimating potential growth rates for the period ahead for a large group of Latin American countries based on standard (Solow-style) growth accounting methodologies. We find that factor accumulation (especially labor), rather than growth in total factor productivity (TFP), remains the main driver of GDP growth. Moving forward, given the expected moderation of capital accumulation and some natural constraints on labor, the strong growth momentum is unlikely to be sustainable unless TFP performance improves significantly.
Download or read book The Role of Structural Reforms in Raising Economic Growth in Central America written by Mr.Andrew Swiston and published by International Monetary Fund. This book was released on 2011-10-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central America experienced moderate growth during the last decade, including in the years leading up to the global financial crisis, but the rate of convergence toward advanced country income levels has still been slow. Moreover, forecasts imply that these trends will continue. What can be done to spur higher growth in Central America? We bring new data to bear on this question-version 7.0 of the Penn World Table and a new IMF database on structural reforms. Our cross-country panel regression of economic growth using System GMM captures the importance to growth of conditional convergence, factor accumulation, and macro policies. In addition, structural efficiency is a significant factor in explaining growth performance. We construct a broad index of efficiency and find that increasing the degree of structural efficiency by one standard deviation raises growth by 1⁄2 percent. This implies that Central American countries could significantly increase their long-run growth rates by increasing the flexibility of markets and improving the quality of regulation.
Download or read book Structural Change and Growth in Central America and the Dominican Republic written by Hugo E. Beteta and published by UN. This book was released on 2014 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication looks at changes that have occurred with the production structure, trade and society in Central America and the Dominican Republic, and how they have influenced the countries' growth trajectories. One of the conclusions it reaches is that the subregion overall has enjoyed faster economic growth than the rest of Latin America over the two decades examined, 1990-2011, which has helped to raise incomes and living standards. Yet this progress falls far short of what is needed, given the high levels of poverty and indigence and the glaring inequalities suffered by much of the population in Central America and the Dominican Republic.
Download or read book Central America Panama and the Dominican Republic written by Stephanie Medina Cas and published by International Monetary Fund. This book was released on 2012-09-27 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the potential for the export sector to play a more important role in promoting growth in Central America, Panama, and the Dominican Republic (CAPDR) through deeper intra-regional and global trade integration. CAPDR countries have enacted many free trade agreements and other regional integration initiatives in recent years, but this paper finds that their exports remain below the norm for countries of their size. Several indexes of outward orientation are constructed and suggest that the breadth of geographic trading relationships, depth of integration into global production chains, and degree of technological sophistication of exports in CAPDR are less conducive to higher exports and growth than in fast-growing, export-oriented economies. To boost exports and growth, CAPDR should implement policies to facilitate economic integration, particularly building a customs union, harmonizing trade rules, improving logistics and infrastructure, and enhancing regional cordination.
Download or read book Central America Panama and the Dominican Republic written by Mr.Marco Pinon and published by International Monetary Fund. This book was released on 2012-06-28 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision.
Download or read book Unleashing Central America s Growth Potential written by Hulya Ulku and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Central America comprises a diverse set of countries, including two high-middle-income countries (Costa Rica and Panama), two of the poorest countries in Latin America and the Caribbean (Honduras and Nicaragua), and two middle-income economies (Guatemala and El Salvador). Low productivity and weak institutions are behind the modest economic growth in Central America in recent years. Both the common features and striking differences among Central American countries provide a fertile ground for exploiting complementarities. Common features include: (i) strong economic links to the United States; (ii) high labor mobility across countries and a high level of informality; (iii) the relatively poor quality of infrastructure, including border crossings; (iv) a concentration of poverty in rural areas, with a low provision of public services, that affect particularly vulnerable groups such as indigenous and Afro-descendent populations; and (v) a high exposure to natural disasters and economic and financial volatility. The economies of each of the six countries in the sub-region were heavily affected by Coronavirus disease 2019 (COVID-19). In order to restore economic activity in the short run and increase potential output over the long run, Central America should launch coordinated policy action in five areas: (i) global value chain (GVCs); (ii) trade integration; (iii) formalization; (iv) management of volatility; and (v) remittances (for the northern Central American countries). The findings and recommendations emerging from the analyses are presented in the report.
Download or read book Potential Output and Output Gap in Central America Panama and Dominican Republic written by Mr.Christian A Johnson and published by International Monetary Fund. This book was released on 2013-06-12 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries using annual data. Main findings are: i) CAPDR potential growth is about 4.4 percent while output gap volatility is about 1.9 percent; ii) The highest-potential growth country is Panama (6.5 percent) while the lowest-growth country is El Salvador (2.6 percent); iii) CAPDR business cycle is about eigth years.
Download or read book A Mandate to Grow written by Eduardo A. Cavallo and published by Inter-American Development Bank. This book was released on 2018-03-15 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2018 Macroeconomic Report, A Mandate to Grow, revisits the growth debate that has been raging in the region for the past half century. Viewing the debate from this long-term perspective allows for a focus on the structural factors that have prevented Latin America and the Caribbean from reaching the growth potential required to keep pace with faster growing regions and to fulfill the aspirations of its population.
Download or read book Dominican Republic written by International Monetary and published by International Monetary Fund. This book was released on 2022-07-08 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: As in the past, the Dominican Republic’s dynamic economy continued to show remarkable resilience to shocks, rebounding strongly from the impact of the pandemic. Sound policies, a nimble vaccination campaign and a well-attuned reopening—including international travel—allowed the economy to make the most of the global rebound. The recovery has been broad based; GDP was about 5 percent above pre-pandemic levels as of end-2021. The country maintained sound market access and benefitted from Fund support through the Rapid Financing Instrument (RFI).
Download or read book Latin America written by Ms.Dora M. Iakova and published by International Monetary Fund. This book was released on 2014-12-23 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years countries in Latin America made tremendous progress in strengthening their economies and improving living standards. Although output fell temporarily during the global financial crisis, most economies staged a rapid recovery. However, economic activity across the region has been cooling off and the region is facing a more challenging period ahead. This book argues that Latin America can rise to the challenge, and policymakers in the region are already implementing reforms in education, energy, and other sectors. More is needed, and more is possible, in Latin America’s quest to continue to improve living standards.
