Export Diversification In Low Income Countries And Small States Do Country Size And Income Level Matter
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Export Diversification In Low Income Countries And Small States Do Country Size And Income Level Matter
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Author : Dongyeol Lee
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-24
Export Diversification In Low Income Countries And Small States Do Country Size And Income Level Matter written by Dongyeol Lee and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-24 with Business & Economics categories.
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Export Diversification In Low Income Countries And Small States Do Country Size And Income Level Matter
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Author : Dongyeol Lee
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-24
Export Diversification In Low Income Countries And Small States Do Country Size And Income Level Matter written by Dongyeol Lee and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-24 with Business & Economics categories.
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Economic Benefits Of Export Diversification In Small States
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Author : Arnold McIntyre
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-11
Economic Benefits Of Export Diversification In Small States written by Arnold McIntyre and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-11 with Business & Economics categories.
The paper considers concepts of economic diversification with respect to exports (including service sectors) for small states. We assessed the economic performance of different groups of 34 small states over the period of 1990-2015 and found those more diversified experienced lower output volatility and higher average growth than most other small states. Our findings are consistent with conventional economic theories but we found that export diversification has a more significant impact on reducing output volatility than improving long run growth in small states. Diversification requires fundamental changes and should be contemplated in the context of a cohesive development strategy.
Breaking Into New Markets
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Author : Richard Newfarmer
language : en
Publisher: World Bank Publications
Release Date : 2009-03-12
Breaking Into New Markets written by Richard Newfarmer and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-12 with Political Science categories.
International trade in 2009 is projected to contract for the first time since 1982. As a result, export diversifi cation has gained new urgency as one way of using exports to recover lost growth momentum. Moreover, diversifi cation is central to reducing income volatility and sustaining high growth rates, which are especially important for countries with large populations living in poverty. In the 1950s, countries became concerned that their dependence on primary products would lead to steady falls in the purchasing power of primary exports and thus slow growth. A major policy objective of developing countries since that time has been to diversify out of primary products into manufactures. Although some nations have been at least partially successful, many low-income countries remain dependent on a narrow range of primary products. 'Breaking Into New Markets' argues for a comprehensive view of diversifi cation. It explores new thinking and evidence about export diversifi cation and elaborates on policies for its promotion. These policies span tariffs and taxes, services, and government activities to help fi rms take advantage of global opportunities. The book is a compilation of chapters written as short, policy-focused pieces. Many digest longer, more academic papers in an effort to make the information accessible to a larger policy and nontechnical audience. In that sense, the book is a policy primer on what export diversifi cation can and cannot do for growth and how to make diversifi cation happen. Intelligently designed policies that effi ciently address the obstacles to export growth are critical for overall economic growth and poverty reduction. This book offers insights useful to policy makers and practitioners as they embark on efforts to design new programs of competitiveness in their trade strategies.
Macroeconomic Research In Low Income Countries
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Author : Hites Ahir
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-24
Macroeconomic Research In Low Income Countries written by Hites Ahir and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-24 with Business & Economics categories.
Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.
Does What You Export Matter
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Author : Daniel Lederman
language : en
Publisher: World Bank Publications
Release Date : 2012-06-18
Does What You Export Matter written by Daniel Lederman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-18 with Business & Economics categories.
Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.
Global Economic Prospects June 2019
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Author : World Bank Group
language : en
Publisher: World Bank Publications
Release Date : 2019-07-11
Global Economic Prospects June 2019 written by World Bank Group and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-11 with Business & Economics categories.
Global growth appears to be stabilizing after a period of marked weakness, but it remains fragile. A modest recovery in emerging market and developing economies continues to be constrained by subdued investment, which is dampening prospects and impeding progress toward achieving critical development goals. Downside risks to the outlook remain elevated, and policymakers continue to face major challenges to boost resilience and foster long-term growth. this issue includes essays on the benefits and risks of government borrowing, recent investment weakness in emerging market and developing economies, the pass-through of currency depreciations to inflation, and the evolution of growth in low-income countries.
Ieo Evaluation Report
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Author : International Monetary Fund. Independent Evaluation Office
language : en
Publisher: International Monetary Fund
Release Date : 2020-02-03
Ieo Evaluation Report written by International Monetary Fund. Independent Evaluation Office and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-03 with Business & Economics categories.
This report updates the 2009 IEO evaluation of IMF Involvement in International Trade Policy Issues. Since then, the composition and structure of international trade have evolved, but trade has not regained its former dynamism. With increasing concern about potential winners and losers from trade, there has been a loss of political support for globalization, increasing trade tensions and protectionism, and the institutional framework supporting multilateral trade has come under heavy strain. The report concludes that overall the IMF deserves considerable credit for its active and timely response, playing a prominent role in championing commitment to an open, rules-based multilateral trading system. The Fund has largely implemented the recommendations of the 2009 evaluation and has strengthened and consolidated its trade policy analysis and advice, appropriately focusing on the key macroeconomic effects and associated risks of trade policy developments at the national and international levels. IMF advocacy on trade has been underpinned by a major expansion in the attention to trade policy issues in multilateral surveillance—and to some extent in bilateral surveillance—supported by high-quality research and analysis, building on the Fund’s well-established modeling capacity. Looking forward, the Fund will need to sustain its current high level of advocacy and analysis on trade policy issues and consider how to increase the overall impact of this work. Key challenges include: contributing to foster a recommitment to trade policy cooperation; further attention to translating multilateral surveillance into bilateral policy advice; consolidating relations with partner institutions; and increased attention to rapidly developing trade policy issues. Across all these dimensions, care will be needed to ensure appropriate evenhandedness in trade policy surveillance across countries. A holistic review of the IMF’s “trade strategy” would help to guide trade policy work and the allocation of scarce resources among competing priorities.
Making It Big
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Author : Andrea Ciani
language : en
Publisher: World Bank Publications
Release Date : 2020-10-08
Making It Big written by Andrea Ciani and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-08 with Business & Economics categories.
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
Understanding Export Diversification Key Drivers And Policy Implications
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Author : Rahul Giri
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-14
Understanding Export Diversification Key Drivers And Policy Implications written by Rahul Giri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-14 with Business & Economics categories.
We identify key factors, from large set of potential determinants, that explain the variation in export diversification across countries and over time using Bayesian Model Averaging (BMA), which addresses model uncertainty and ranks factors in order of importance vis-a-vis their explanatory power. Our analysis suggests, in order to diversify, policy makers should prioritize human capital accumulation and reduce barriers to trade. Other policy areas include improving quality of institutions and developing the financial sector. For commodity exporters reducing barriers to trade is the most important driver of diversification, followed by improving education outcomes at the secondary level and financial sector development.