Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3

A small open economy, Benin has seen growth that is above average for the region. The volatility of high growth spells combined with low productivity growth has translated into limited gains in income per capita. Following its transition from low-i...

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Main Author:	World Bank
Format:	Working Paper
Language:	English
Published:	Washington, DC 2022
Subjects:	TRANSPORT INFRASTRUCTURE INFRASTRUCTURE INVESTMENT TRANSPORT FINANCING CONNECTING MARKETS COMPETITIVENESS SMALL OPEN ECONOMY INFORMAL TRADE TRUNK ROAD NETWORK
Online Access:	http://documents.worldbank.org/curated/en/509381645772586680/Connecting-People-and-Markets-for-Economic-Transformation-Chapter-3 http://hdl.handle.net/10986/37174

id	okr-10986-37174
recordtype	oai_dc
spelling	okr-10986-371742022-03-19T05:10:46Z Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3 World Bank TRANSPORT INFRASTRUCTURE INFRASTRUCTURE INVESTMENT TRANSPORT FINANCING CONNECTING MARKETS COMPETITIVENESS SMALL OPEN ECONOMY INFORMAL TRADE TRUNK ROAD NETWORK A small open economy, Benin has seen growth that is above average for the region. The volatility of high growth spells combined with low productivity growth has translated into limited gains in income per capita. Following its transition from low-income country to lower middle income country status in 2020 Benin is at the start of a new growth path Its challenge to boost the structural transformation of its economy driven by new growth drivers capable of sustaining an economic acceleration, lifting labor productivity and creating quality jobs for its young labor force, including women. While Benin’s economy has been spared by the worse of the Coronavirus disease 2019 (COVID 19) crisis, the shock has reinforced the need to focus on structural reforms that address long term challenges and ensure that economic recovery is sustainable and inclusive. The key conclusions that underpin this report, following the country economic memorandum (CEM) 2.0 framework suggest that investing further in human capital and closing gender gaps, particularly to accelerate the decline in fertility rates, and integrate women and youth into a higher quality labor market, should be central. Deepening market integration, connecting people and creating agglomeration economies through transport infrastructure and services should catalyze additional opportunities, taking advantage of Benin’s geographical position. 2022-03-18T18:16:12Z 2022-03-18T18:16:12Z 2022 http://documents.worldbank.org/curated/en/509381645772586680/Connecting-People-and-Markets-for-Economic-Transformation-Chapter-3 http://hdl.handle.net/10986/37174 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Working Paper Publications & Research,Publications & Research Africa Africa Western and Central (AFW) Benin
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	TRANSPORT INFRASTRUCTURE INFRASTRUCTURE INVESTMENT TRANSPORT FINANCING CONNECTING MARKETS COMPETITIVENESS SMALL OPEN ECONOMY INFORMAL TRADE TRUNK ROAD NETWORK
spellingShingle	TRANSPORT INFRASTRUCTURE INFRASTRUCTURE INVESTMENT TRANSPORT FINANCING CONNECTING MARKETS COMPETITIVENESS SMALL OPEN ECONOMY INFORMAL TRADE TRUNK ROAD NETWORK World Bank Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3
geographic_facet	Africa Africa Western and Central (AFW) Benin
description	A small open economy, Benin has seen growth that is above average for the region. The volatility of high growth spells combined with low productivity growth has translated into limited gains in income per capita. Following its transition from low-income country to lower middle income country status in 2020 Benin is at the start of a new growth path Its challenge to boost the structural transformation of its economy driven by new growth drivers capable of sustaining an economic acceleration, lifting labor productivity and creating quality jobs for its young labor force, including women. While Benin’s economy has been spared by the worse of the Coronavirus disease 2019 (COVID 19) crisis, the shock has reinforced the need to focus on structural reforms that address long term challenges and ensure that economic recovery is sustainable and inclusive. The key conclusions that underpin this report, following the country economic memorandum (CEM) 2.0 framework suggest that investing further in human capital and closing gender gaps, particularly to accelerate the decline in fertility rates, and integrate women and youth into a higher quality labor market, should be central. Deepening market integration, connecting people and creating agglomeration economies through transport infrastructure and services should catalyze additional opportunities, taking advantage of Benin’s geographical position.
format	Working Paper
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3
title_short	Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3
title_full	Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3
title_fullStr	Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3
title_full_unstemmed	Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3
title_sort	benin country economic memorandum 2.0 (vol. 3) : connecting people and markets for economic transformation - chapter 3
publisher	Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/509381645772586680/Connecting-People-and-Markets-for-Economic-Transformation-Chapter-3 http://hdl.handle.net/10986/37174
_version_	1764486658424569856

Benin Country Economic Memorandum 2.0 (Vol. 3) : Connecting People and Markets for Economic Transformation - Chapter 3

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