UID:
almafu_9958116930402883
Format:
1 online resource (57 p.)
ISBN:
1-4755-7927-6
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1-4755-1367-4
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1-299-46184-0
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1-4755-4188-0
Series Statement:
IMF country report ; 12/257
Content:
The paper is an elaborated report on Nicaragua’s potential economic growth. The challenges and idiosyncratic shocks were immense but the policies of better education, labor contracts, and accomplishments in public investments paved the way for movement of the economy. The external competitiveness and exchange rate assessment also have an important hand. The achievements in the electricity sector and the improvement in reforming the pension system are the prominent aspects. On the whole, the Board considers this growth as a positive trial of development in the global panorama.
Note:
Description based upon print version of record.
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Cover; Contents; I. Raising Potential Output: the Challenge of Inclusive Growth; A. Introduction; B. Potential Output and Output Gap: The Production Function Approach; C. Potential Growth: A Switching Model Approach; D. Potential Output: A State-Space Representation; E. Idiosyncratic Shocks and Potential Output: Spillovers from the Electricity Sector; F. Growth and Public Investment: how to raise growth with productive investment; G. Policies to Boost Growth; Boxes; 1. Production Function Approach; 2. Regime-Switching Model; 3. State-Space Models; Figure
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1. Production Function Approach: GDP Decomposition and Output GapReferences; II. External Competitiveness and Exchange Rate Assessment; A. Introduction; B. Dynamism in the Export Sector; Figures; 1. Export Categories and Destination of Exports; C. Price Competitiveness: Real Exchange Rate; 2. U.S. Imports from Central America; 3. Nominal and Real Effective Exchange Rate; Tables; 1. Estimates of overvaluation of the Córdoba; 4. Real Exchange Rate; D. Non-Price Competitiveness: Structural Impediments; 2. Doing Business Indicators; 3. Corruption Perceptions Index
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E. Adequacy of International Reserves4. Business costs of crime and violence; 5. Global Competitiveness Index; 5. International Reserve Coverage; References; III. Lifting a Constraint on Growth: Achievements and Challenges of Nicaragua's Electricity Sector; A. Introduction; B. Ongoing Challenges: High Oil Prices, Tariff-Costs Gaps, and Unrecognized Distribution Losses; C. Preserving the Sector's Solvency: Underpinning Policies in a Medium-Term Framework; D. Policy Implications; Tables; 1. Electricity Sector's Medium-Term Sustainability
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2. Effect of a 15 percent increase in oil prices on Electricity Sector's SustainabilityFigure; 1. Electricity Sector's Medium-Term Sustainability; References; IV. Fiscal Consolidation-Issues and Policy Options; A. Introduction; B. Fiscal Multipliers and Exogenous Fiscal Shocks; C. Results; D. Policy Implications; Figures; 1. Output Effects of 1 Percentage Point Cut in Expenditure or Increase in Tax Revenue - A Structural VAR Approach With Debt Feedback; 2. Effects of Cut in Expenditure and Increase in Tax Revenue; 3. Fiscal Multiplier in Nicaragua
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4. Fiscal Multipliers of Current and Capital ExpendituresReferences; Appendix: Model Setup; V. Achieving Sustainability: Reforming the Nicaraguan Pension System; A. Main Issues; B. The Current Pension System; Tables; 1. Payroll Taxes; C. The Baseline Scenario; Figures; 1. Rate of Growth of Benefits and Contributions under the Baseline Scenario and of Nominal GDP; D. The Proposals under Consideration; 2. Ratio of Pension Benefit to Final Salary; 3. Percentage of Benefit Reduction under the TCG, 2009 Proposal; E. Policy Implications and Staff's Views
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4. Government Options: Rate of Contributions to Balance the System
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English
Additional Edition:
ISBN 1-4755-0663-5
Language:
English
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