Fostering Export Diversification In
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Fostering Export Diversification In
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Author : Rasmané Ouedraogo
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-27
Fostering Export Diversification In written by Rasmané Ouedraogo 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 2023-02-27 with Business & Economics categories.
This selected issue paper investigates the drivers of diversification and explores the potential for fostering diversification in Niger with a focus on horizontal policies. The empirical results from panel regressions indicate that reforms to enhance human capital and the quality of infrastructure, to promote digitalization, to remove barriers to trade and improve governance are likely to yield the largest gains in terms of diversification for Niger.
Understanding Export Diversification Key Drivers And Policy Implications
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Author : Rahul Giri
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-10
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 2019-05-10 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.
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 S. Newfarmer
language : en
Publisher: World Bank Publications
Release Date : 2009
Breaking Into New Markets written by Richard S. 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 with Business & Economics 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.
Business For Development Fostering The Private Sector
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2007-05-16
Business For Development Fostering The Private Sector written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-05-16 with categories.
This book details the activities of the private sector in developing and emerging economies and demonstrates how these activities are inter-related with government policies.
Leveraging Export Diversification In Fragile Countries
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Author : José López-Cálix
language : en
Publisher: World Bank Publications
Release Date : 2020-02-12
Leveraging Export Diversification In Fragile Countries written by José López-Cálix 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 2020-02-12 with Business & Economics categories.
Despite multiple past efforts, fragile Sub-Saharan African economies such as those of Mali, Chad, Niger, and Guinea still rank among the least diversified worldwide, with natural resources constituting a high share of their gross domestic product or exports. Large-scale production of gold for Mali, oil for Chad, uranium for Niger, and bauxite for Guinea offers substantial opportunities, but also has major shortcomings. Conclusive evidence shows poor economic performance by resource-rich but fragile Sub-Saharan African countries. The primary reason is not only their high vulnerability to external shocks, but the greed or grievances that typically lead to rents appropriation by a small group of elites in countries that are prone to conflict. Leveraging Export Diversifi cation in Fragile Countries explores the following questions: What are Mali’s, Chad’s, Niger’s, and Guinea’s main constraints to export diversification as perceived by key exporting firms? How it could be beneficial for these countries to target certain emerging export products? Are their current interventions to promote global value chain (GVC) adequate? What lessons can be extracted from specific cases? How can trade and logistic policies favor (or hamper) export diversification†“led growth? The book lays the groundwork for effective step-by-step multidimensional policies to propel export diversification in fragile economies that are hindered not only by poor governance and weak institutions, but also by their landlocked position (except Guinea), small domestic markets, and business-unfriendly environments. Recognizing that traditional project interventions in these countries have had limited success, mainly due to their unidimensional focus on single components of an agricultural value chain, the book proposes a GVC 2.0 cluster-based approach to export diversification, in which complementary efforts attract foreign firms and public investment in support of agribusiness. Promising pilot examples of joint implementation plans among multiple donors, risk-sharing facilities, and agribusiness clusters provide valuable insights into recent global value chain developer interventions.
Economic Diversification In Oil Exporting Arab Countries
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-29
Economic Diversification In Oil Exporting Arab Countries written by International Monetary Fund 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 2016-04-29 with Business & Economics categories.
countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...
Chile A Role Model Of Export Diversification Policies
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Author : Mr. Gonzalo Salinas
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-27
Chile A Role Model Of Export Diversification Policies written by Mr. Gonzalo Salinas 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 2021-05-27 with Business & Economics categories.
Largely because of its vast copper reserves, Chile’s exports are highly concentrated on this low complexity product and this is often cited as a major drawback of its economic policy framework. However, its exogenous copper abundance conceals the country’s success in developing non-mineral and complex exports. This achievement is remarkable considering its remoteness from the large international economic centers, which limits its integration to global value chains. As suggested in this paper, this accomplishment reflects Chile’s strength in policy areas that foster non-mineral exports (including complex exports), making the country a role model in export diversification and complexity policies among emerging market countries.
Increasing Export Diversification In Commodity Exporting Countries
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Author : Mr.Dean A. DeRosa
language : en
Publisher: International Monetary Fund
Release Date : 1991-10-01
Increasing Export Diversification In Commodity Exporting Countries written by Mr.Dean A. DeRosa 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 1991-10-01 with Business & Economics categories.
This paper draws on the neoclassical theory of international trade to examine the limits of efficient export diversification in low-income, commodity-exporting countries. It demonstrates the fundamental importance of relative factor endowments among countries for determining the commodity composition of international trade flows under both certain and uncertain economic conditions. In recognition of the importance of international financial markets for risk-spreading and allocating resources efficiently under uncertainty, the paper emphasizes the importance of “open” economic policies towards international trade in financial assets as well as goods.
Economic Diversification In The Gcc
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Author : Mr.Tim Callen
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-23
Economic Diversification In The Gcc written by Mr.Tim Callen 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 2014-12-23 with Business & Economics categories.
Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.