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Unleashing Central America’s Growth Potential : Honduras (Inglês)

Despite advances in the growth reform agenda in the last decade, Honduras remains the second-poorest country in Central America, with one of the lowest growth rates in income per capita. The objective of this study is to investigate the drivers and constraints of growth and productivity in Honduras and explore areas with high growth potential. The value added of this study is to provide an in-depth analysis of the drivers and constraints of Honduras’s growth using a wide range of analytical tools. According to the growth diagnostics methodology, this report finds that the areas preventing faster growth are: (i) corruption; (ii) security; (iii) property rights; (iv) innovative activities; and (v) access of small firms to finance. Tackling the identified growth constraints can help Honduras in the transition from an exporter of low-complexity products to an economy with higher share complex products. This report has identified several key areas in which Honduras lags its comparator and aspirational countries, but which can help boost productivity and growth over the medium to long term. They include: improving transparency, accountability, and rule of law; reducing crime and violence; creating an enabling environment for innovation; improving the rule of law to better protect property rights and reduce expropriation risk; increasing the access of finance to small firms; and coordinating with the private sector to identify missing public goods and design mechanism to provide them.

Detalhes

  • Autor

    Ulku,Hulya, Zaourak,Gabriel Roberto, Arenas,Guillermo Carlos, Campora,Natalia Leonor, Kasyanenko,Sergiy, Lakatos,Csilla, Mulabdic,Alen, Yu,Shu

  • Data do documento

    2021/07/30

  • TIpo de documento

    Report

  • No. do relatório

    162274

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Honduras,

  • Região

    América Latina e Caribe,

  • Data de divulgação

    2021/07/30

  • Disclosure Status

    Disclosed

  • Nome do documento

    Unleashing Central America’s Growth Potential : Honduras

  • Palavras-chave

    Upper Middle Income Countries; information and communication technology; growth and development; Cost of Doing Business; foreign value added; vulnerability to natural disasters; per capita income growth; global value chain; macroeconomic stability and growth; increase in tax revenue; per capita income level; fight against corruption; millennium development goal; early stage of development; computable general equilibrium model; domestic value added; labor productivity growth; employment share; productivity gap; Rule of Law; labor market distortion; crime and violence; access to finance; Poverty & Inequality; global financial crisis; share of employment; national poverty rate; flow of labor; access to mortgage; change in employment; wash water; dependence on agriculture; public external debt; lack of security; quality of product; structure of employment; allocation of resource; Performance and Development; cost of crime; control of corruption; million people; agriculture and industry; reallocation of resource; risk of debt; low growth rate; engine of growth; physical capital accumulation; cross-cutting themes; agricultural commodity price; extreme weather event; human capital accumulation; free trade zone; export processing zone; free trade agreement; output per worker; factor of production; total factor productivity; access to bank; contribution of capital; current account deficit; diversification of export; baseline poverty rate; drop in poverty; cost of labor; high crime rate; working age population; national poverty headcount; privileges and immunity; property right; long-term growth; recent years; real gdp; reform scenario; analytical tool; aggregate trends; industrial employment; aggregate productivity; aggregate investment; credit supply; Boosting Growth; historical growth; income inequality; economic diversification; productive sector; small economy; historical context; employment composition; factor accumulation; industrial sector; comparative advantage; baseline scenario; market efficiency; private investment; increase productivity; institutional environment; Technology Transfer; market reform; Civil War; digital infrastructure; civil rule; political uncertainty; mass migration; industrial labor; export basket; apparel product; export capability; strategic approach; business service; high share; sectoral composition; increase growth; productive investment; agricultural labor; government revenue; patent application; economic expansion; organized crime; empirical evidence; negative effect; diminishing return; empirical literature; Export Diversification; economic history; high corruption; cross-country study; Tax Administration; available data; remittance inflow; global commodity; domestic labor; foreign labor; extreme poverty; emigration trend; gini coefficient; gini index; high migration; poverty ratio; telecommunication infrastructure; expropriation risk; land title; productive activity; medium-size enterprise; Public Goods; financial system; large population; science policy; political will; asian countries; local saving; macroeconomic condition; public deficit; low risk; overall debt; high tax; gross debt; fiscal measure; export opportunity; longitudinal data; widespread corruption; sectoral employment; infrastructure efficiency; disease outbreak; financial inclusion; labor mobility; take stock; export opportunities; net export; subsequent section; export quality; cross-country benchmark; regression analysis; binding constraint; objective assessment; Real estate; cross-country comparison; relative labor; fiscal deficit; other sectors; industrial growth; research assistance; land right; program leader; quantitative method; macroeconomic sustainability; tradable sector; Job Creation; domestic consumption; firm level; increasing investment; industrial base; subsidiary right; noncommercial purposes; trading pattern; export channel; intermediate level; government effort; social capital; Land tenure; private land

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