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Ethiopia’s great run : the growth acceleration and how to pace it (English)

This report addresses two questions: what explains Ethiopia’s growth acceleration?; and how can it be sustained? In brief, the authors find that Ethiopia’s rapid economic growth, concentrated in agriculture and services, was driven by substantial public infrastructure investment and supported by a conducive external environment. To sustain high growth, three policy adjustments are presented: identifying sustainable ways of financing infrastructure, supporting private investment through credit markets, and tapping into the growth potential of structural reforms.

Details

  • Author

    Moller,Lars Christian

  • Document Date

    2015/11/18

  • Document Type

    Working Paper

  • Report Number

    99399

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Ethiopia,

  • Region

    Africa,

  • Disclosure Date

    2015/11/23

  • Disclosure Status

    Disclosed

  • Doc Name

    Ethiopia’s great run : the growth acceleration and how to pace it

  • Keywords

    early stage of development;public infrastructure investment;per capita growth rate;total factor productivity growth;private investment;capital growth rate;real gdp;real exchange rate appreciation;high real interest rate;marginal product of capital;competitive real exchange rate;impact of climate change;legal and regulatory framework;returns to capital;Agriculture;international poverty line;overvalued exchange rate;working age population;private sector involvement;financial sector liberalization;international good practice;gross value;coefficient estimate;regression model;price of export;decrease in illiteracy;Access to Education;capital account opening;interest rate liberalization;improved agricultural technologies;output per worker;system Financial;private sector credit;factor of production;gdp growth rate;high growth rate;external debt sustainability;finance and economic;raising tax revenue;financial sector indicator;accumulation of capital;impact of service;rate of profit;labor productivity growth;private investment rate;agricultural extension worker;contribution of investment;population growth rate;per capita term;agriculture and service;alternative financing mechanism;competitive market economy;regional average growth;determinants of growth;engine of growth;market oriented reform;exchange rate overvaluation;total fertility rate;children per woman;domestic saving;private consumption;supply side;marginal return;agricultural growth;financial repression;credit market;productivity gain;economic reform;extension service;sustainable way;life expectancy;reform sequencing;infrastructure financing;domestic finance;Natural Resources;government consumption;public capital;numerical simulation;improved seed;demographic effect;domestic credit;firm level;deeper look;rural area;binding constraint;saving rate;government spending;Exchange Rates;physical infrastructure;human capital;external environment;deposit rate;national account;equal country;factor accumulation;Infant Mortality;economic sector;cross-country regression;public borrowing;infrastructure constraints;supply constraint;capital accumulation;present evidence;cyclical analysis;improved public;manufacturing sector;income threshold;infrastructure expansion;demographic change;infrastructure asset;decomposition method;Trade Logistics;water access;employment effect;student population;electricity tariff;development performance;reduce trade;agriculture sector;merchandise trade;public consumption;early warning;transport service;average household;neoclassical growth;urban dweller;theoretical model;credit access;alternative policy;saharan africa;financial system;financial liberalization;empirical evidence;real income;diminishing return;reform effort;household consumption;piped water;marginal farmer;stunted child;empirical estimate;credit constraint;inflationary pressure;primary enrolment;gender parity;Child Mortality;external competitiveness;support infrastructure;benchmarking exercise;poverty perspective;survey instrument;upper bind;extreme poverty;consumption growth;policy scenario;capital imports;net export;living standard;exogenous factor;military spending;increased openness;International Trade;average returns;high inflation;cross-country experience;standard deviation;employment growth;Demographic Transition;capital spending;geographical disadvantage;world trade;endogenous factors;agricultural productivity;reduced poverty;input use;agricultural production;modern technology;price incentive;working-age population;agricultural employment;agricultural labor;static efficiency;relative labor;light manufacturing;industrial park;important contributors;benchmarking method;fertility decline;marketable skill;agricultural sector;merchandise export;monetary expansion;budget financing;common feature;analytical tool;commodity price;basic infrastructure;regression results;employment share;crop damage;policy simulation;parameter value;market-oriented economy;poverty decline;population estimate

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Citation

Moller,Lars Christian

Ethiopia’s great run : the growth acceleration and how to pace it (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/693561467988949839/Ethiopia-s-great-run-the-growth-acceleration-and-how-to-pace-it