Reinvigorating Growth in Belize
27 Pages Posted: 8 Apr 2019
Date Written: February 2019
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: Economic growth, Social indicators, Financial indicators, Demographic indicators, Total factor productivity, growth diagnostics, development policies, structural transformation., growth constraint, world development indicator, TFP, IMF, Rodrik
JEL Classification: O11, O43, O54, E01, E2, O4, E62, L31
Suggested Citation: Suggested Citation