Unleashing Central America's Growth Potential Nicaragua

As the smallest economy in Central America, Nicaragua has undergone a structural transformation that has enabled the country to grow at a high pace since the mid-1990s. The objective of this study is to investigate the drivers and constraints of growth and productivity in Nicaragua and explore areas...

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1. Verfasser: Ulku, Hulya (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2021
Schriftenreihe:General Economy, Macroeconomics, and Growth Study
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Unleashing Central America's Growth Potential Nicaragua Hulya Ulku
Washington, D.C The World Bank 2021
1 Online-Ressource
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General Economy, Macroeconomics, and Growth Study
As the smallest economy in Central America, Nicaragua has undergone a structural transformation that has enabled the country to grow at a high pace since the mid-1990s. The objective of this study is to investigate the drivers and constraints of growth and productivity in Nicaragua and explore areas with high potential. The value added of this study is to provide an in-depth analysis of the drivers and constraints of Nicaragua's growth using a wide range of analytical tools. Using these tools, the report finds that boosting growth and reducing poverty requires raising productivity growth and facilitating the entry of women to the labor market. According to the growth diagnostics methodology, this report finds that the areas preventing faster growth are: (i) corruption, (ii) financial development, (iii) governance, (iv) lack of innovation, and (v) property rights. Addressing the identified growth constraints can help the country in the path towards diversification, which will increase the resilience to external shocks, create job opportunities, generate sustainable growth, and reduce dependence on remittances. This report has identified several key areas where policy reforms can help boost productivity and growth over the medium to long term. They include: implementing measures to boost female labor force participation; increasing the access of small firms to finance and addressing collateral laws, credit information coverage, and competition; coordinate with the private sector to identify missing public goods and to design mechanisms to provide them; creation of an enabling environment for innovation; strengthening public institutions through reducing bureaucracy, promoting transparency and rule of law, and strengthening the capacity of the public sector; improving the property titling regime and the land administration system; and strengthening the institutional framework, including tackling corruption
Access To Finance
Banking Sector
Business Environment
Competitiveness and Competition Policy
Corruption
Economic Growth
Export Competitiveness
Labor Market
Macroeconomic Management
Macroeconomics and Economic Growth
Private Sector Development
Property Rights
Social Protections and Labor
Total Factor Productivity
Zaourak, Gabriel Sonstige oth
http://elibrary.worldbank.org/doi/book/10.1596/36049 Verlag URL des Erstveröffentlichers Volltext
spellingShingle Ulku, Hulya
Unleashing Central America's Growth Potential Nicaragua
Access To Finance
Banking Sector
Business Environment
Competitiveness and Competition Policy
Corruption
Economic Growth
Export Competitiveness
Labor Market
Macroeconomic Management
Macroeconomics and Economic Growth
Private Sector Development
Property Rights
Social Protections and Labor
Total Factor Productivity
title Unleashing Central America's Growth Potential Nicaragua
title_auth Unleashing Central America's Growth Potential Nicaragua
title_exact_search Unleashing Central America's Growth Potential Nicaragua
title_exact_search_txtP Unleashing Central America's Growth Potential Nicaragua
title_full Unleashing Central America's Growth Potential Nicaragua Hulya Ulku
title_fullStr Unleashing Central America's Growth Potential Nicaragua Hulya Ulku
title_full_unstemmed Unleashing Central America's Growth Potential Nicaragua Hulya Ulku
title_short Unleashing Central America's Growth Potential
title_sort unleashing central america s growth potential nicaragua
title_sub Nicaragua
topic Access To Finance
Banking Sector
Business Environment
Competitiveness and Competition Policy
Corruption
Economic Growth
Export Competitiveness
Labor Market
Macroeconomic Management
Macroeconomics and Economic Growth
Private Sector Development
Property Rights
Social Protections and Labor
Total Factor Productivity
topic_facet Access To Finance
Banking Sector
Business Environment
Competitiveness and Competition Policy
Corruption
Economic Growth
Export Competitiveness
Labor Market
Macroeconomic Management
Macroeconomics and Economic Growth
Private Sector Development
Property Rights
Social Protections and Labor
Total Factor Productivity
url http://elibrary.worldbank.org/doi/book/10.1596/36049
work_keys_str_mv AT ulkuhulya unleashingcentralamericasgrowthpotentialnicaragua
AT zaourakgabriel unleashingcentralamericasgrowthpotentialnicaragua