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International Monetary Fund. African Dept.

productivity growth in sub-Saharan Africa ( McMillan, Rodrik, and Verduzco-Gallo 2014 ). Figure 3.2. Labor Productivity and Changes in Employment Shares, 2000 versus Latest (Percent) Source: IMF 2017b . Note: See page 78 for country abbreviations. Box 3.1. Different Measures of Diversification This chapter uses four main indices to measure structural transformation and diversification in the region. The export product diversification index reflects the number of products a country exports and the extent to which the export structure is

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Jaroslaw Wieczorek and composed of Romain Bouis, Paolo Cavallino, Cleary Haines, and Nkunde Mwase.

International Monetary Fund. African Dept.

Abstract

Growth in sub-Saharan Africa has recovered relative to 2016, but the momentum is weak and per capita incomes are expected to barely increase. Further, vulnerabilities have risen in many countries, adding to the urgency of implementing the fiscal consolidations planned in most countries and with stepped up efforts to strengthen growth.

Agnes Isnawangsih

Malaysia and less diversified than China and Thailand ( Figure 9.7 ). Compared with other large emerging market economies, its product diversification level is similar to those of Mexico and South Africa, while it is less diversified than Turkey and more diversified than Argentina and Russia ( Figure 9.8 ). Figure 9.7 . Asian Emerging Markets: Export Product Diversification (Index 0-1; higher value indicates exports are concentrated in fewer products) Sources: UN Comtrade database; and IMF staff estimates. Note: Herfindahl-Hirschman index calculated using

International Monetary Fund

, 2011). LICs are classified into “less diversified” (average Theil export product diversification index during 1990-2010 in top quartile) and “more diversified” (average Theil index in bottom quartile); or “less upgrading” (average change in quality index in bottom quartile) and “more upgrading” (average quality change in top quartile). D. Case Studies 25. Case studies can provide greater granularity in understanding the diversification process for several reasons . First, diversification often pertains to specific sub-sectors that are only relevant for a

International Monetary Fund
Diversification and structural transformation play important roles in influencing the macroeconomic performance of low-income countries (LICs). Increases in income per capita at early stages of development are typically accompanied by a transformation in a country’s production and export structure. This can include diversification into new products and trading partners as well as increases in the quality of existing products.
International Monetary Fund. Middle East and Central Asia Dept.

business sophistication. Export Product Diversification Index, 2014 (The higher, the less diversified) Source: IMF staff estimates. 29. The authorities and staff agreed on the need to prioritize structural reforms to improve infrastructure, competitiveness, and education . The authorities noted that their Four-Point Reform Plan is designed to address structural bottlenecks to growth. It aims to improve infrastructure, education, and government efficiency, and promote private-sector activity. Staff underscored the opportunity to accelerate efforts to

International Monetary Fund. Middle East and Central Asia Dept.
This 2018 Article IV Consultation highlights that the macroeconomic performance in Georgia since the global financial crisis has been positive. Growth was higher than that in most peers. The banking sector has remained stable, and foreign reserves have increased. After two years of sluggish growth, following the 2014 regional slowdown, growth has picked up and the external position strengthened. Supported by external demand and buoyant consumption, real GDP grew 5 percent in 2107. The near-term outlook has improved moderately and the output gap is expected to close gradually in 2019–20. Over the medium to long term growth is expected to accelerate moderately and external vulnerabilities to decrease, thanks to the dividends from structural reforms.