Ethiopia’s Great Run : The Growth Acceleration and How to Pace It

This report addresses two questions: what explains Ethiopia’s growth acceleration?; and how can it be sustained? In brief, the authors find that Ethiopia’s rapid economic growth, concentrated in agriculture and services, was driven by substantial p...

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Bibliographic Details
Main Author:	World Bank Group
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	FORECASTS RENT SEEKING MONETARY POLICY ECONOMIC GROWTH WORLD TRADE ORGANIZATION PRODUCTION UTILITY FUNCTIONS LAGS UNDERVALUATION VALUATION STRUCTURAL CHANGE INTEREST MARGINAL COST GDP PER CAPITA EXPORTS ELASTICITY MARGINAL PRODUCT OPTIMIZATION GROSS VALUE DEVALUATION VARIABLES PRICING PAYMENTS WEALTH SURPLUS LABOR TRENDS CENTRAL BANK LENDING CHOICE TOTAL FACTOR PRODUCTIVITY EXPORT GROWTH ECONOMIC BENEFITS ECONOMIC COOPERATION EXCHANGE RATES ECONOMETRICS EXTERNALITIES MONOPOLY DEBT MARKETS WTO SMALLHOLDER AGRICULTURE INFLATION RATE ECONOMIC SIZE INCOME LEVELS ECONOMIC REFORMS ELASTICITY OF SUBSTITUTION UTILITY NATURAL RESOURCES SUBSIDIES INTEREST RATE EFFECT ECONOMIC RESEARCH BANK DEPOSITS MACROECONOMIC STABILIZATION EXTERNALITY CONSUMPTION GROSS FIXED CAPITAL FORMATION HUMAN CAPITAL VALUE ADDED ECONOMIC PERFORMANCE CAPITAL INTERNATIONAL TRADE OPEN MARKET OPERATIONS BENCHMARKING COMPETITIVENESS TREASURY BILLS ECONOMIC SECTORS DEMAND NATIONAL INCOME AGGREGATE DEMAND EXCESS DEMAND ECONOMY AGRICULTURE DEMOGRAPHIC EFFECTS GROWTH MODELS MIXED ECONOMY MEASUREMENT SHARES ASSETS BENCHMARK ECONOMIC THEORY TRADE LIBERALIZATION ECONOMIC SITUATION MONETARY POLICIES ECONOMICS ECONOMIC MODELS PRODUCTION FUNCTION INFLATION RATES FUNCTIONAL FORMS TAXATION TRADE ECONOMIC INTEGRATION GDP TOTAL FACTOR PRODUCTIVITY GROWTH CREDIT RATIONING SUPPLY GINI COEFFICIENT ECONOMIC TRENDS LENDING GROWTH POLICIES NOMINAL INTEREST RATE BANKING SUPERVISION EXCESS SUPPLY AVERAGE PRODUCTIVITY FINANCIAL SECTOR OUTCOMES OPEN ECONOMIES CONSUMPTION INCREASES POSITIVE EFFECTS DEVELOPMENT POLICY INCOME GROUPS COMPETITION ECONOMIC BOOM LIVING STANDARDS CAPITAL MARKETS RISKS REGULATORY FRAMEWORK CURRENCY APPRECIATION GOVERNMENT EXPENDITURES STOCK INCOME MACROECONOMIC MANAGEMENT EXPECTATIONS MONEY SUPPLY INTEREST RATE EXCHANGE PROPERTY RIGHTS REAL GDP ECONOMIC FORECASTING DISCOUNT RATE MACROECONOMIC POLICY TELEPHONE COVERAGE LIQUIDITY RESERVE REQUIREMENTS POLITICAL ECONOMY WELFARE RISK PREMIUM BONDS DIMINISHING RETURNS INCENTIVES MIDDLE INCOME COUNTRY DISTRIBUTION TRADE REFORMS SUBSIDY BENCHMARKS INPUTS RETURNS TO SCALE AGRICULTURAL OUTPUT INFLATION SECURE PROPERTY RIGHTS ECONOMIC OUTLOOK SAFETY NETS BANK LENDING CENTRAL BANK AGRICULTURAL PRACTICES DEVELOPMENT MACROECONOMIC STABILITY INFLUENCE MARGINAL PRODUCTS TRADE BALANCE SAVINGS COSTS PER CAPITA INCOME DEVELOPMENT ECONOMICS TELECOMMUNICATIONS MONEY RENT INTEREST RATES PRODUCTIVITY INDUSTRIALIZATION FAILURES DEPOSIT ACCOUNTS CRITERIA OPEN ECONOMY TRADE POLICY REAL INTEREST RATE TAX REVENUES GROSS DOMESTIC PRODUCT TAXES LEADING INDICATORS PRODUCTIVITY GROWTH WAGES ECONOMETRIC ANALYSIS SAVINGS INCREASES FINANCIAL CRISIS VALUE CREDIT MACROECONOMICS DEVELOPMENT STRATEGY PURCHASING POWER MARGINAL BENEFITS MARGINAL COSTS CONSUMERS ECONOMIC EFFICIENCY
Online Access:	http://documents.worldbank.org/curated/en/2015/11/25475811/ethiopia’s-great-run-growth-acceleration-pace http://hdl.handle.net/10986/23333

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Summary:	This report addresses two questions: what explains Ethiopia’s growth acceleration?; and how can it be sustained? In brief, the authors find that Ethiopia’s rapid economic growth, concentrated in agriculture and services, was driven by substantial public infrastructure investment and supported by a conducive external environment. To sustain high growth, three policy adjustments are presented: identifying sustainable ways of financing infrastructure, supporting private investment through credit markets, and tapping into the growth potential of structural reforms.

Ethiopia’s Great Run : The Growth Acceleration and How to Pace It

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