Belize, Right Choices Bright Future : Systematic Country Diagnostic

This systematic country diagnostic (SCD) discusses on Belize’s ability to promote faster poverty reduction and greater shared prosperity which will depend on how well the country deals with its main sources of vulnerability. The main areas in need...

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Bibliographic Details
Main Author:	Carneiro, Francisco
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	LIVING STANDARDS FORECASTS MONETARY POLICY RISKS REGULATORY FRAMEWORK UNEMPLOYMENT RATES GOVERNMENT EXPENDITURES ECONOMIC GROWTH PROFIT MARGINS PRODUCTION PRICE INCREASES ADVERSE IMPACTS INCOME INTEREST MACROECONOMIC MANAGEMENT EXPECTATIONS TRADE BARRIERS INTEREST RATE REAL GDP PROPERTY RIGHTS EXCHANGE DISCOUNT RATE GDP PER CAPITA LIQUIDITY EXPORTS ELASTICITY FISCAL POLICY WELFARE OPTIMIZATION INCENTIVES MIDDLE INCOME COUNTRY DISTRIBUTION VARIABLES DAMAGES INPUTS DECISIONS PAYMENTS WEALTH BANKRUPTCY INFLATION TRENDS CENTRAL BANK DEVELOPMENT MACROECONOMIC STABILITY FISCAL POLICIES INFLUENCE TOTAL FACTOR PRODUCTIVITY SAVINGS PER CAPITA INCOME COSTS AIR POLLUTION DEVELOPMENT ECONOMICS EXPORT GROWTH TELECOMMUNICATIONS PRODUCTIVITY WORKERS’ SKILLS EXTERNALITIES GROSS NATIONAL SAVINGS FAILURES CRITERIA DEBT MARKETS WTO INFLATION RATE OPEN ECONOMY DIRECT VALUE ECONOMIC SIZE INCOME LEVELS TRADE POLICY REAL INTEREST RATE ECONOMIC CONSTRAINTS DIVIDENDS UTILITY NATURAL RESOURCES GROSS DOMESTIC PRODUCT TRADE POLICIES TAXES UNEMPLOYMENT INCOME TAXES CONSUMPTION GROSS FIXED CAPITAL FORMATION HUMAN CAPITAL VALUE ADDED ECONOMIC PERFORMANCE CAPITAL WAGES UNEMPLOYMENT RATE FINANCIAL CRISIS VALUE BENCHMARKING COMPETITIVENESS CREDIT DEVELOPMENT STRATEGY COMPARATIVE ADVANTAGES DEMAND NATIONAL INCOME ECONOMY AGRICULTURE CONSUMERS TARIFF BARRIERS OPPORTUNITY COSTS ASSETS BENCHMARK INCOME EFFECT ECONOMIC SITUATION NATURAL RATE OF UNEMPLOYMENT PRODUCTION FUNCTION DECLINING WAGES ECONOMIC INEQUALITY TAXATION TRADE USE VALUE GDP GOODS THEORY ECONOMIES OF SCALE GROWTH RATE INVESTMENT EXTREME POVERTY COMPLEMENT COMPARATIVE ADVANTAGE POSITIVE EXTERNALITIES ADVERSE IMPACT ECONOMIC INFORMATION COMPETITIVE ADVANTAGE WAGE DIFFERENTIALS GINI COEFFICIENT CONSUMER PRICE INDEX LENDING GROWTH POLICIES GROWTH THEORY MACROECONOMIC POLICIES TOTAL OUTPUT DEVELOPMENT PROJECTS CONSUMPTION LEVELS OUTCOMES FINANCIAL SECTOR OPEN ECONOMIES NATURAL” RATE OF UNEMPLOYMENT GROWTH POTENTIAL MIDDLE INCOME COUNTRIES PRICES COMPETITION
Online Access:	http://documents.worldbank.org/curated/en/2016/03/26067074/belize-right-choices-bright-future-systematic-country-diagnostic http://hdl.handle.net/10986/24046

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Summary:	This systematic country diagnostic (SCD) discusses on Belize’s ability to promote faster poverty reduction and greater shared prosperity which will depend on how well the country deals with its main sources of vulnerability. The main areas in need of a big push that could have the highest potential impact on the twin goals are : (i) improving education and skills; (ii) addressing crime and violence; and, (iii) increasing resilience to climate change and natural disasters. Strengthening resilience to natural disasters and climate change along with improvements in the existing infrastructure in Belize are critical to support the twin goals to end extreme poverty, and promote shared prosperity in poorer segments of society. Sustainable progress towards the achievement of the twin goals of reducing poverty and boosting shared prosperity in Belize will also require prioritizing fiscal sustainability. This SCD is structured in six chapters that range from a brief description of the main features of Belize to the discussion of priorities for growth and shared prosperity. Chapter 1 presents the country context, highlighting Belize’s main features as a small upper middle income country that faces high volatility associated with its size and vulnerability to exogenous shocks. Chapter 2 discusses trends in poverty and shared prosperity. Chapters 2 through 5 discuss the main underlying factors that have been found to influence Belize’s growth performance as well as its economic, social and environmental sustainability. Each of these chapters discuss in greater detail the nature of the challenges, dig deeper into exploring the likely causes of these challenges, and identify policy areas that could be critical for boosting growth and inclusion and ensuring sustainability. These chapters also identify knowledge and data gaps on areas where new information could help strengthen a diagnosis and inform specific actions in the priority areas. The sixth and final chapter has three important and distinctive features. First, it provides a synthesis of the analysis and findings of the previous chapters. Second, it provides a discussion of the approach used to identify the priorities for action in Belize. And, third, it concludes with a discussion of the priorities to boost shared prosperity and ensure economic, social and environmental sustainability in Belize.

Belize, Right Choices Bright Future : Systematic Country Diagnostic

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