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Economic & Sector Work :: Country Economic Memorandum

Benin - Constraints to Growth and Potential for Diversification and Innovation : Country Economic Memorandum

ACCESS TO CAPITAL ACCOUNTING AGRICULTURAL OUTPUT AGRICULTURE ANALYTICAL METHODS ANNUAL INFLATION RATES BANK CREDIT BARRIER BENCHMARK BENCHMARKING BINDING CONSTRAINT BINDING CONSTRAINTS BORROWER BROAD MONEY BUSINESS ENVIRONMENT CAPITAL ACCOUNT CAPITAL FORMATION CAPITAL MARKETS CAPITAL SHARE CENTRAL BANK COLLATERAL COLLATERAL REQUIREMENTS COMMERCIAL BANK COMMODITIES COMMODITY COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVENESS CONSUMER GOODS CONTRACT ENFORCEMENT CONTRIBUTION COST OF CAPITAL COST OF FINANCE COUNTRY MARKETS COUNTRY RISK CREDIT DEPOSIT CURRENCY DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MATURITY DEBT REDUCTION DEBT RELIEF DEMOCRACIES DEMOCRACY DEVELOPING COUNTRIES DEVELOPMENT PATH DEVELOPMENT STRATEGY DISSEMINATION OF INFORMATION DIVERSIFICATION DIVERSIFICATION STRATEGY DIVIDENDS DOMESTIC FINANCIAL MARKET ECONOMIC ACTIVITY ECONOMIC CONSTRAINTS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE ECONOMIC REFORMS ECONOMIC SITUATION ECONOMIC STRUCTURE EMERGING MARKET EMERGING MARKET ECONOMY EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT SECTORS EXPORT SHARE EXPORTERS EXPORTS EXTERNAL DEBT EXTERNALITIES FACTORS OF PRODUCTION FERTILITY RATE FERTILITY RATES FINANCIAL SERVICES FISCAL DEFICITS FOREIGN DIRECT INVESTMENT FOREIGN FUNDS FOREIGN INVESTMENT FOREIGN MARKETS FOREIGN TRADE FORMAL ECONOMY FRAUD GDP GDP PER CAPITA GNP GNP PER CAPITA GOVERNANCE INDICATORS GOVERNMENT EXPENDITURE GOVERNMENT POLICIES GOVERNMENT REVENUES GOVERNMENT SUPPORT GROWTH POLICIES GROWTH POTENTIAL GROWTH RATE GROWTH RATES HARMONIZATION HOLDING HUMAN CAPITAL HUMAN DEVELOPMENT IMMUNIZATION IMPERFECT COMPETITION IMPORT BARRIERS INCENTIVE STRUCTURE INCOME INCREASING RETURNS INCREASING RETURNS TO SCALE INFLATION INFLATION RATES INFORMAL ECONOMY INHERITANCE INSTITUTIONAL CONSTRAINTS INSURANCE INTERNATIONAL COMPETITION INTERNATIONAL FINANCE INTERNATIONAL MARKETS INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS INVESTMENT RESOURCES KNOWLEDGE ECONOMY LACK OF COLLATERAL LAISSEZ FAIRE LAND OWNERSHIP LIFE EXPECTANCY LIQUIDITY LOAN LOAN BALANCE LOAN MATURITY LOCAL FINANCE LOCAL MARKET LONG TERM CAPITAL LOW INCOME LOW-INCOME LOW-INCOME COUNTRY MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET CONDITIONS MARKET DISCIPLINE MARKET ECONOMY MARKET FAILURE MARKET FAILURES MARKET REFORMS MARKET SHARES MATURITY STRUCTURE MEDIUM ENTERPRISES MICRO-ENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY FUND MONETARY POLICIES MONETARY POLICY NATIONAL SAVINGS NATURAL DISASTERS NATURAL RESOURCE NATURAL RESOURCES NEW PRODUCTS PENETRATION RATE PER CAPITA INCOME PER CAPITA INCOMES POLITICAL ECONOMY POLITICAL STABILITY POLITICAL SYSTEM PREFERENTIAL ACCESS PRIVATE INVESTMENT PRIVATE SECTOR GROWTH PRIVATIZATION PRODUCTION FUNCTION PRODUCTIVE INVESTMENT PROPERTY RIGHTS PUBLIC EXPENDITURE PUBLIC SPENDING PUBLIC UTILITIES PUBLIC-PRIVATE PARTNERSHIP RATE OF RETURN RATES OF RETURN REAL COST REAL COST OF CREDIT REAL GDP REAL GROWTH RATE REGULATORY FRAMEWORK REGULATORY FRAMEWORKS RETURN RISK PREMIUMS SAVINGS DEPOSITS SENIOR SENSITIVITY SCENARIOS SHARE OF INVESTMENT SHORT-TERM DEBT SMALL ENTERPRISES SUSTAINABLE ECONOMIC GROWTH SUSTAINABLE GROWTH TAX TAX SYSTEM TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH TRADE BARRIERS TRADE LIBERALIZATION TRADE POLICIES TRADE POLICY TRADE SECTORS TRADE UNION TRADING TRADING ACTIVITIES VALUE ADDED VOLATILITY VOTERS WAGES WORLD MARKETS WORLD TRADE WTO
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World Bank
Africa | West Africa | Sub-Saharan Africa | Benin
2012-03-19T17:23:57Z | 2012-03-19T17:23:57Z | 2009-06-18

With favorable geographical location, macroeconomic stability, debt reduction, progress on structural reforms, and political stability, Benin will seem to have the foundations for a dynamic, diversified economy. Yet the country's economic structure has not evolved, remaining highly dependent on cotton and transit trade, and per-capita growth has slowed down in recent years. The government has requested the World Bank's assistance in understanding the constraints to growth and evaluating the country's potential for diversification and innovation as it seeks to lead the country to emerging market status by 2020. The government is well aware that the vulnerabilities associated with the country's dependence on cotton and transit trade impede the attainment of this goal. Response to the government's request, the objective of the Benin Country Economic Memorandum (CEM) is therefore to identify and analyze the key economic and institutional constraints to growth, including through diversification and innovation. The CEM contains four main chapters, each providing theoretical or empirical analyses of Benin's economic situation and prospects: a) cross-sectoral binding constraints to growth; b) analysis of specific constraints in the cotton and transit trade sectors; c) diversification and innovation potential; and d) political economy of growth.

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