Reinvigorating Growth in Belize

Dmitry Vasilyev

No 2019/024, IMF Working Papers from International Monetary Fund

Abstract: In the 1990s and early 2000s, Belize grew faster than its regional peers. By the mid-2000s, however, economic growth had slowed down to the regional average. A vicious circle of low growth and increasing public debt has been clouding Belize’s outlook. This paper applies a growth diagnostic approach based on the Hausmann-Rodrik-Velasco framework to investigate the main growth constraints and opportunities for higher growth in Belize. Improvements in access to finance and in the business climate could unlock Belize’s strengths.

Keywords: WP; Belize; economy; cost; goods export; growth diagnostics; development policies; structural transformation; peer economy; growth performance; export diversification index; Belize's growth; diversification indicator; tourism industry; Total factor productivity; Income; Tourism; Caribbean; Central America (search for similar items in EconPapers)
Pages: 26
Date: 2019-02-04
New Economics Papers: this item is included in nep-fdg
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