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231006 ||| eng |
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|a Ulku, Hulya
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| 245 |
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|a Unleashing Central America's Growth Potential
|h Elektronische Ressource
|b Cross-Cutting Themes - Strengthening Productive Links and Managing Volatility
|c Hulya Ulku
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| 260 |
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|a Washington, D.C
|b The World Bank
|c 2021
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| 653 |
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|a Macroeconomics and Economic Growth
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| 653 |
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|a Global Value Chains and Business Clustering
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| 653 |
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|a Trade Facilitation
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| 653 |
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|a Productivity
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Economic Growth
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| 653 |
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|a Business Environment
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| 653 |
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|a Foreign Direct Investment
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| 653 |
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|a Export Competitiveness
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| 653 |
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|a Private Sector Development
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| 653 |
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|a Investment Climate
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| 653 |
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|a Labor Mobility
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| 653 |
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|a Remittances
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| 700 |
1 |
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|a Zaourak, Gabriel
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| 041 |
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|a eng
|2 ISO 639-2
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| 989 |
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|b WOBA
|a World Bank E-Library Archive
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| 490 |
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|a General Economy, Macroeconomics, and Growth Study
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|a 10.1596/36051
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| 856 |
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|u http://elibrary.worldbank.org/doi/book/10.1596/36051
|x Verlag
|3 Volltext
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|a 330
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| 520 |
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|a Central America comprises a diverse set of countries, including two high-middle-income countries (Costa Rica and Panama), two of the poorest countries in Latin America and the Caribbean (Honduras and Nicaragua), and two middle-income economies (Guatemala and El Salvador). Low productivity and weak institutions are behind the modest economic growth in Central America in recent years. Both the common features and striking differences among Central American countries provide a fertile ground for exploiting complementarities. Common features include: (i) strong economic links to the United States; (ii) high labor mobility across countries and a high level of informality; (iii) the relatively poor quality of infrastructure, including border crossings; (iv) a concentration of poverty in rural areas, with a low provision of public services, that affect particularly vulnerable groups such as indigenous and Afro-descendent populations; and (v) a high exposure to natural disasters and economic and financial volatility. The economies of each of the six countries in the sub-region were heavily affected by Coronavirus disease 2019 (COVID-19). In order to restore economic activity in the short run and increase potential output over the long run, Central America should launch coordinated policy action in five areas: (i) global value chain (GVCs); (ii) trade integration; (iii) formalization; (iv) management of volatility; and (v) remittances (for the northern Central American countries). The findings and recommendations emerging from the analyses are presented in the report
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