Jordan - Policies for High and Sustained Growth for Job Creation : Hashemite Kingdom of Jordan 2012 Development Policy Review (Vol. 1 of 2) : Synthesis

Jordan - Policies for High and Sustained Growth for Job Creation : Hashemite Kingdom of Jordan 2012 Development Policy Review (Vol. 1 of 2) : Synthesis

Jordan's quest for long-term, inclusive and sustainable growth has remained largely elusive. By the Growth and Development Commission's measure of success, namely, an average growth rate of 7 percent over 30 years, Jordan's growth re...

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Bibliographic Details
Main Author:	World Bank
Format:	Development Policy Review (DPR)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO INFORMATION ACCOUNTING AGGREGATE EMPLOYMENT AGRICULTURE BENCHMARK BENCHMARKING BINDING CONSTRAINTS BORROWING BUSINESS DEVELOPMENT BUSINESS ENVIRONMENT BUSINESS REGULATIONS CAPITAL ACCOUNT CAPITAL ACCUMULATION CAPITAL FORMATION CAPITAL INFLOWS CAPITAL INVESTMENT CENTRAL BANK CENTRAL BANKS COLLATERAL COMMUNICATION TECHNOLOGIES COMMUNICATION TECHNOLOGY COMPARATIVE ADVANTAGE COMPETITIONS COMPETITIVE MARKETS CREATING JOBS CREATIVE DESTRUCTION DEBT DECENTRALIZATION DEVELOPED COUNTRIES DEVELOPMENT POLICY DOWNSIDE RISKS DRIVERS ECONOMIC ACTIVITY ECONOMIC COOPERATION ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC REFORM ECONOMIC REFORMS ECONOMIC SECTORS ELASTICITY EMERGING MARKETS EMPLOYMENT GROWTH EMPLOYMENT SHARE EMPLOYMENT ALTERNATIVE EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURES EXPORT GROWTH EXPORTS EXTERNALITIES FACTOR MARKETS FERTILITY RATES FINANCIAL CRISIS FINANCIAL INTEGRATION FINANCIAL SECTOR FINANCIAL SERVICES FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FISHING FIXED CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENTS FOREIGN LABOR FOREIGN MARKETS FOREIGN WORKERS FREE TRADE FREE TRADE AGREEMENT GDP GDP PER CAPITA GLOBAL ECONOMY GLOBAL MARKETS GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH POLICIES GROWTH POTENTIAL GROWTH RATE GROWTH RATES HIGH EMPLOYMENT HUMAN CAPITAL HUMAN RESOURCE HUMAN RIGHT INCOME INCOME GROUPS INFRASTRUCTURE DEVELOPMENT INNOVATION INTERNATIONAL COMPETITION INTERNATIONAL COOPERATION INTERNATIONAL MARKETS INVESTMENT CLIMATE INVESTMENT CLIMATE REFORMS INVESTOR CONFIDENCE JOB CREATION JOB SEEKERS JOINT VENTURES LABOR FORCE LABOR FORCE GROWTH LABOR MARKET LABOR PRODUCTIVITY LABOR SUPPLY LABOR SURVEYS LOW EMPLOYMENT LOW TARIFFS LOW-INCOME COUNTRIES MACROECONOMIC EFFECTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET FAILURES MARKET SHARES MIDDLE INCOME COUNTRIES MIDDLE INCOME COUNTRY MINES MONETARY POLICY MONOPOLIES MORAL HAZARD NATIONAL OUTPUT NET EMPLOYMENT NET JOB CREATION NEW MARKETS OIL OIL PRICES OPEN ECONOMIES PARTICULAR COUNTRIES PENSION PENSION CONTRIBUTIONS POLICY INSTRUMENTS POLITICAL ECONOMY POLITICAL INSTITUTIONS POLITICAL STABILITY POPULATION GROWTH POTENTIAL INVESTORS PRICE SUBSIDIES PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE PARTNERSHIP PRIVATE PARTNERSHIPS PRIVATE PROVISION PRIVATE SECTOR PRIVATE SECTOR WAGES PRIVATE SECTORS PRIVATIZATION PRIVATIZATIONS PRODUCT DIVERSIFICATION PRODUCTIVITY DECOMPOSITION PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PROPERTY RIGHTS PUBLIC DEBT PUBLIC GOOD PUBLIC SECTOR JOBS PUBLIC-PRIVATE PARTNERSHIP PUBLIC-PRIVATE PARTNERSHIPS RAPID EXPANSION RAPID GROWTH REAL ESTATE REAL GDP REAL WAGES REGULATORS RENTS REPUTATION RESOURCE MANAGEMENT RETAIL TRADE RETIREMENT RISK PREMIUM SAFETY SAFETY NET SAVINGS SERVANTS SKILLED LABOR SKILLS DEVELOPMENT SOCIAL BENEFITS SOCIAL PROTECTION SOCIAL SAFETY NET STATE CAPTURE STATE-OWNED ENTERPRISES STRUCTURAL CHANGE SUSTAINABLE GROWTH TAX TAX EXPENDITURES TECHNICAL ASSISTANCE TECHNOLOGICAL CHANGE TECHNOLOGY TRANSFERS TELECOMMUNICATIONS TOTAL EMPLOYMENT TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH TOTAL LABOR FORCE TOTAL UNEMPLOYMENT TRADE COMPETITIVENESS TRADE DIVERSION TRADE LIBERALIZATION TRADE POLICY TRANSPARENCY UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT PROBLEM UNEMPLOYMENT RATE VALUE ADDED VENTURE CAPITAL VENTURE CAPITAL FUNDS VIRTUOUS CYCLE VOLATILITY WAGE BILL WAGE INCREASES WORKER WORKING CONDITIONS WORKING STANDARDS WORLD DEVELOPMENT INDICATORS WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/2012/06/17083493/jordan-policies-high-sustained-growth-job-creation-hashemite-kingdom-jordan-2012-development-policy-review-vol-1-2-synthesis http://hdl.handle.net/10986/12328

Description
Summary:	Jordan's quest for long-term, inclusive and sustainable growth has remained largely elusive. By the Growth and Development Commission's measure of success, namely, an average growth rate of 7 percent over 30 years, Jordan's growth record cannot be dubbed 'successful'. This Development Policy Review (DPR) shows that sustaining growth and reducing unemployment is possible: Jordan has a strong human capital base, a large endowment in engineers, doctors, accountants, Information Technology (IT) specialists and a substantial highly-skilled diaspora (500,000 educated Jordanians abroad, 8 percent of the population). Furthermore, the market-oriented reforms of the early 2000s have made Jordan one of the most open economies in the Middle East and North Africa Region and have led to the emergence of dynamic non-traditional sectors (e.g., information and communication technologies, health tourism and business services). What is missing are: (i) an adequate and stable institutional framework for policymaking and long-term business development; (ii) good fiscal policies to manage shocks and maintain macroeconomic stability; good institutions and macroeconomic stability were identified by the growth commission as two of the five common characteristics of successful growth experiences; and (iii) further growth-enhancing structural reforms.

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