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Madagascar - An agenda for growth and poverty reduction : country economic memorandum : Madagascar - Un agenda pour la croissance et la reduction de la pauvrete : memorandum economique (French)

For Madagascar the challenge is clear: unless the country can close the gap between performance and potential, poverty will continue to affect a large share of the Malagasy population for many generations. To a large extent, escaping from the poverty trap requires Madagascar to put in place the conditions that would enable it to attain high economic growth rates. Action in two main policy areas is required: 1) fostering a supply response for private sector development; and 2) redefining the role of the public sector. Madagascar needs to focus on measures to gain investor confidence, both domestic and foreign. Areas for action concern eliminating corruption, restoring the credibility of the judiciary, and creating an investor-friendly administrative and regulatory environment with minimum discretion by the state. In addition to these policies likely to provide results in the long term, Madagascar may benefit from mechanisms that aim at rapidly increasing the confidence of the private sector, even if these are temporary solutions (for example, an effective arbitration system for resolving commercial disputes). As to the role of the public sector, it should be redefined and modernized, with actions being required on revenues, expenditures, and institutional and organizational areas. Madagascar also needs to reverse its attitude towards foreign direct investment; opening up the country to technologies and know-how is required for high growth and enables access to foreign markets.

Details

  • Document Date

    1998/10/14

  • Document Type

    Pre-2003 Economic or Sector Report

  • Report Number

    18473

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Madagascar,

  • Region

    Africa,

  • Disclosure Date

    2012/11/13

  • Disclosure Status

    Disclosed

  • Doc Name

    Madagascar - Un agenda pour la croissance et la reduction de la pauvrete : memorandum economique

  • Keywords

    Poverty reduction; Private sector development; Government role; Privatization; Legal framework; Regulatory reform; Administrative reforms; Agricultural sector; Mining sector; Tourism; Public expenditures; Civil service; Decentralization; Nongovernmental organizations; Tax revenues; Public sector; Public finance; Structural reforms; Government policy; Growth promotion; Dispute settlement; Government credibility; Corruption; Judicial reform; Investor confidence; Commercial disputes; Foreign direct investments; Modernization

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Citation

Madagascar - An agenda for growth and poverty reduction : country economic memorandum : Madagascar - Un agenda pour la croissance et la reduction de la pauvrete : memorandum economique (French). World Development Sources, WDS 1998-4 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/946021468055771551/Madagascar-Un-agenda-pour-la-croissance-et-la-reduction-de-la-pauvrete-memorandum-economique