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Somaliland’s private sector at a crossroads : political economy and policy choices for prosperity and job creation (Inglês)

The Somaliland economy is driven by the private sector. Unlike most other economies in the world, the government footprint is limited, amounting to under 10 percent of the gross domestic product (GDP). As will be presented in this report, this context is both a structural advantage and constraint to further economic growth and the capacity of the private sector to create the jobs demanded by a growing population, after a generation of hard work building a political system and economy from the remains of a destructive civil war. The report strives to take stock of the progress to date in private sector performance and development and to identify policy priorities that the government, in partnership with the private sector, can pursue in furtherance of job creation and growth objectives. The target audience for this report is principally the Government of Somaliland (GoS) and its private and financial sectors. The report also hopes to contribute to the work of Somaliland’s other development partners. To this end, the report commences with an overview of the structure of the private sector and a recap of the business environment within which it operates, drawing for this latter aspect on the findings of the Doing Business in Hargeisa 2012 report (World Bank and IFC 2012). The report then proceeds with a more in-depth look at the characteristics of the three key ‘sectors’ that drive the Somaliland economy, the private, financial, and government sectors, and the factors that impact their overall performance in achieving government policy objectives, as set out in the GoS’s document titled Somaliland National Vision 2030. The specific issues addressed include, as requested by the GoS, enterprise formalization, financial inclusion, government capacity, and economic governance. This is most appropriate, as the analysis clearly points to these issues being of primary importance to the achievement of a growing and job-creating economy. The report concludes with some recommended short-, medium-, and longer-term policy priorities for each of the three key sectors.


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    Mousley,Peter J., Ndiaye,Jade Elena Garza, Wimpey,Joshua Seth, Amin,Mohammad, Votava,Cari, Nicoli,Marco, Eigen-Zucchi,Christian

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    Somaliland’s private sector at a crossroads : political economy and policy choices for prosperity and job creation

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    Fragile &Conflict-Affected States;finance and markets;danish international development;trade and competitiveness;Private and Financial Sector;legal and regulatory framework;private sector job creation;private sector development strategy;bank for international settlement;land use;money transfer operator;small and medium size enterprise;Political Economy;access to land;gross domestic product;flow of remittance;security and development;private sector counterpart;direct foreign investment;engine of growth;allocation of resource;public policy outcome;political economy dimension;form of resistance;focus group interview;private sector performance;lack of credibility;flow of finance;International Phone Call;Employment and Growth;internal governance system;number of jobs;capacity for investment;financial sector reform;gum and resins;capacity building strategy;information and communication;types of finance;government policy response;political economy risk;source of revenue;compliance with regulation;privileges and immunity;round of consultations;Public Finance Management;level of private;delivery of health;proportion of female;access to finance;performance of private;growth and development;shortage of funds;financing of terrorism;level of capacity;return on investment;remittance service provider;capacity building support;essential social services;local government action;Letter of Credit;chamber of commerce;law and regulation;interest group;policy priority;policy option;civil society;Civil War;Diaspora;enterprise survey;financial inclusion;informal enterprise;economic recovery;government capacity;government regulation;social contract;government autonomy;external shock;suboptimal outcome;consultation process;governance issue;risk taking;government service;social group;Political Systems;governance model;regulatory function;political parties;remittance sector;donor agencies;binding constraint;social actor;enterprise sector;social setting;government institution;enabling environment;government sector;sales growth;business service;remittance company;elected officials;sociocultural context;political interest;effective strategy;political actor;reform strategy;political party;political arena;policy formulation;Emerging economies;standard approach;emerging economy;open society;investment capital;business engagement;diplomatic recognition;market position;property right;contract enforcement;air transport;governance arrangement;Trade Policies;private solutions;migrant laborer;remittance price;terrorist attack;Extractive Industry;Government Performance;promotional activity;consumer economy;business interest;primary focus;business environment;employment creation;resource base;national interest;foreign investor;local municipality;individual investor;investment climate;traditional clan;power outage;influencing investment;expanded trade;remittance market;Conflict Prevention;Immigration policy;political development;national remittance;jobless growth;registration system;female employment;employment generation;internal capacity;fiscal implication;skilled staff;external environment;government decision;political space;local capacity;financial system;remittance channel;beneficial owner;integrity system;regulatory authority;legal framework;matching grant;investment instrument;Financial Access;conventional banking;delivering services;institutional change;Business Registration;Vocational Training;Company Law;public good;regulatory service;remittance inflow;trade finance;professional standard;Payments for Services;investment law;societal factor;gender composition;tax rate;infrastructure constraints;high probability;market opportunity;specific issue;technological change;multiparty system;education service;cultural tradition;mutual obligation;social trust;informal loan;government support;customary authorities;security situation;analytical instruments;Business Climate;physical infrastructure;labor regulation;preparatory work;Enterprise Development;comparator country



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