Liberia : Inclusive Growth Diagnostics

Liberia : Inclusive Growth Diagnostics

Liberia aims to achieve middle-income status by 2030 through broad participation and inclusive growth. The Government's growth strategy aims to accelerate growth through the exploitation of natural resources, while maintaining sound macroecono...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ABSOLUTE SENSE AGGREGATE LEVEL AGRICULTURAL SECTOR AGRICULTURE AID DEPENDENCE AVERAGE INCOMES AVERAGE PRODUCTIVITY BASE YEAR BENCHMARK BUSINESS ENVIRONMENT CAPITAL ACCUMULATION CAPITAL EXPENDITURES CAPITAL LEVELS CAPITAL STOCK CITIZENS CIVIL SOCIETY CIVIL WAR COMPARATIVE ADVANTAGE COMPETITIVENESS COMPLEMENTARY FACTORS OF PRODUCTION CONTRACT ENFORCEMENT CORRUPTION COUNTRY DATA CREDIT RATIONING DATA COLLECTION DATA ISSUES DEBT DEPRECIATION OF ASSETS DETERMINANTS OF GROWTH DEVELOPING COUNTRIES DEVELOPING WORLD DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT GOALS DEVELOPMENT INDICATORS DEVELOPMENT REPORT DEVELOPMENT STRATEGY DISTRIBUTION OF INCOME DIVERSIFICATION DOMESTIC MARKETS DOMESTIC SAVINGS DUAL ECONOMY ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC AFFAIRS ECONOMIC DECLINE ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC INSTABILITY ECONOMIC OPPORTUNITIES ECONOMIC PERFORMANCE ECONOMIC PROGRESS ECONOMIC SECTORS ECONOMIC STABILITY ECONOMIC SYSTEMS ELECTRICITY SERVICES EMPIRICAL EVIDENCE EMPIRICAL LITERATURE EMPIRICAL STUDIES ENTREPRENEURSHIP ENVIRONMENTAL DEGRADATION EQUAL ACCESS EXCHANGE RATE EXCHANGE RATES EXPECTED RETURNS EXPORT DIVERSIFICATION EXPORTS EXTERNAL SHOCKS EXTERNALITIES EXTREME POVERTY FACTOR ACCUMULATION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FOREIGN AID FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTORS GDP GDP PER CAPITA GROSS FIXED CAPITAL FORMATION GROSS NATIONAL SAVINGS GROWTH ACCOUNTING GROWTH DIAGNOSTICS GROWTH PATH GROWTH PERFORMANCE GROWTH PROCESS GROWTH RATE GROWTH RATES GROWTH RESULTS GROWTH WITHOUT DEVELOPMENT HIGH GROWTH HOUSEHOLD DATA HUMAN CAPITAL HUMAN RESOURCE INCOME INCOME DISTRIBUTION INCOME INEQUALITY INCOME LEVEL INCOME SHARE INDUSTRIAL POLICY INFORMATION EXTERNALITIES INFRASTRUCTURE INVESTMENT INSTITUTIONAL CAPACITY INTERNATIONAL COMMUNITY INTERNATIONAL TRADE INVENTORY LABOR FORCE LABOR FORCE GROWTH LABOR MARKET LABOR SUPPLY LAND USE LITERACY RATES LIVING STANDARDS LOCAL GOVERNMENTS LONG RUN LONG-TERM GROWTH MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MARKET FAILURE MARKET FAILURES MIDDLE INCOME COUNTRIES MIDDLE INCOME COUNTRY MIGRATION NATIONAL ACCOUNTS NATIONAL DEVELOPMENT NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCES NEGATIVE EFFECT NET SAVINGS OUTPUT GROWTH OUTPUT VOLATILITY PER CAPITA GROWTH PER CAPITA INCOME POLICY ANALYSIS POLICY ISSUES POLICY MAKERS POLITICAL INSTABILITY POOR COUNTRIES POPULATION SHARE POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRESENT VALUE PRIMARY EDUCATION PRIMARY SCHOOL PRIVATE SECTOR REPRESENTATIVES PRO-POOR PRO-POOR GROWTH PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC FINANCES PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SERVICES PUBLIC WORKS PURCHASING POWER RAPID GROWTH RATE OF RETURN RATE OF RETURN TO CAPITAL REAL GDP REDUCED INEQUALITY REGULATORY FRAMEWORK RICH COUNTRIES RULE OF LAW RURAL POOR SAFETY NETS SAVINGS SAVINGS RATIO SCARCITY VALUE SHADOW PRICES SIGNIFICANT IMPACT SKILLED LABOR SOCIAL PROTECTION SOCIAL SAFETY NETS SOCIOECONOMIC DATA STANDARD DEVIATION SUSTAINABLE GROWTH TECHNICAL ASSISTANCE TECHNOLOGY TRANSFER TELECOMMUNICATIONS TFP TOTAL FACTOR PRODUCTIVITY TRADITIONAL ECONOMY TRANSPARENCY TRANSPORT UNEMPLOYMENT UNEQUAL ACCESS URBAN AREAS URBAN ECONOMY VALUE ADDED WAGES WEALTH WEALTH CREATION WORLDWIDE GOVERNANCE INDICATORS YOUNG PEOPLE YOUNG WOMEN YOUTH
Online Access:	http://documents.worldbank.org/curated/en/2012/02/16575286/liberia-inclusive-growth-diagnostics http://hdl.handle.net/10986/12609

Description
Summary:	Liberia aims to achieve middle-income status by 2030 through broad participation and inclusive growth. The Government's growth strategy aims to accelerate growth through the exploitation of natural resources, while maintaining sound macroeconomic policies, improving the business environment, and prudently allocating aid and commodity-based financing resources to expand infrastructure and formal sector employment. However, Liberia's experience with rapid growth in the 1960s and 1970s, that benefit a small percentage of the population, followed by economic collapse, widespread poverty and social unrest, and civil war, has made policymakers acutely aware that the quality of the growth process is at least as important as the rate of growth. Now that peace has been established and growth is once again on an upward trend, with the reactivation of the iron ore and agriculture sectors, and prospects for oil, promising opportunities for significant growth in the medium to long term, the Government wants to ensure that Liberia's growth over the next two decades will be sustainable and equitable. A key objective of the growth strategy is to avoid the traps posed by dependence on primary resources while creating the basis for economic diversification and employment generation, and providing opportunities and training so that individuals across the country can partake in the growth process. This diagnostic aims to support that strategy by identifying the factors in Liberia's economy that act as binding constraints to inclusive growth.

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