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Economic Growth in the Republic of Yemen : Sources, Constraints, and Potentials

ADMINISTRATIVE REGULATIONS AGGREGATE GOVERNANCE INDICATORS AGRICULTURAL OUTPUT AGRICULTURAL SECTOR AGRICULTURE AIR ANNUAL GROWTH ANNUAL GROWTH RATE AVERAGE GROWTH AVERAGE GROWTH RATE BUSINESS ENVIRONMENT CENTRAL BANK CIVIL WAR COMPARATIVE ADVANTAGE COMPETITIVE EXCHANGE COMPETITIVE EXCHANGE RATE COMPETITIVENESS CONSUMER PRICE INDEX CORRUPTION CPI CRIME DEREGULATION DIRECT INVESTMENT DISCOVERIES DIVERSIFICATION DOMESTIC MARKETS DUMPING ECONOMIC ACTIVITIES ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC REFORMS ECONOMIC SECTORS EMPLOYMENT ENVIRONMENTAL PROTECTION EXCHANGE RATE EXCHANGE RATE POLICY EXCHANGE RATE REGIME EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL SHOCKS EXTERNAL TRADE FINANCIAL RESOURCES FISH FISHERIES FISHING FOREIGN EXCHANGE FORESTRY FREE TRADE GDP GDP PER CAPITA GOVERNANCE ENVIRONMENT GROSS DOMESTIC PRODUCT GROWTH PERFORMANCE GROWTH PROSPECTS GROWTH RATE GROWTH RATES HIGH GROWTH HIGH TAXES IMPORTS IMPROVING GOVERNANCE INCOME INDUSTRIAL SECTOR INEFFICIENCY INFRASTRUCTURE INVESTMENT INSTITUTIONAL ENVIRONMENT INTEREST RATES INVESTMENT CLIMATE LIVING STANDARDS LONG-TERM GROWTH MACROECONOMIC MANAGEMENT MACROECONOMIC PERFORMANCE MACROECONOMIC STABILITY MARKET ECONOMY MONOPOLIES NATIONAL ACCOUNTS OIL OIL PRICES OIL RESERVES OIL SECTOR PARTNERSHIP POLICY REFORMS POPULATION GROWTH POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCT MARKETS PRODUCTION COSTS PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC UTILITIES REAL GDP SECTORAL COMPOSITION SIGNIFICANT IMPACT SOCIAL DEVELOPMENT STRUCTURAL CHARACTERISTICS TELECOMMUNICATIONS TELEPHONES TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE LIBERALIZATION TRADE POLICIES TRANSACTIONS COSTS VALUE ADDED WORLD TRADE ORGANIZATION WTO GOVERNANCE PROPERTY RIGHTS RULE OF LAW JUDICIAL SYSTEMS LEGAL REFORM CIVIL SERVICE REFORMS CONTRACT ENFORCEMENT JUDGMENTS CORRUPTION IN POLITICS ECONOMIC GROWTH TOURISM DEVELOPMENT MINING INDUSTRY CONFLICT RESOLUTION SKILLS DISPUTE RESOLUTION SERVICE DELIVERY OIL SECTOR MANUFACTURING PRODUCTION FISHERIES SECTOR EMPLOYMENT GENERATION LAND TITLES BUSINESS ENVIRONMENT
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Washington, DC
Middle East and North Africa | Yemen, Republic of
2013-08-20T18:48:56Z | 2013-08-20T18:48:56Z | 2002

High and sustained rate of economic growth in Yemen is a necesary, though not sufficient, condition for reduction of the high incidence of poverty and for raising the living standards of Yemeni citizens. Evidence in this report suggests that the main obstacle to rapid and sustained economic growth is the weak governance that characterizes Yemen in addition to the weaknesses in domestic security, property rights, and rule of law systems. Weak governance in Yemen is characterized/manifested by widespread corruption, lack of transparency and accountability, inefficiency in the interaction of public officials and private business, ineffective or absent market promoting institutions such as those enforcing contracts (courts, tribunals, etc.), poor performance of the public sector in terms of delivering essential goods and implementing programs, associated lack of incentives and skills in the civil service, and weak enforceability of contracts and rulings. Along with ordering the governance situation, there are areas that should receive government priority in the short and medium term, including: 1) enhancing domestic security to boost economic activity in all economic sectors; 2) removing excessive and arbitrary regulations to strengthen basic infrastructure and other services and to attract private investment into these sectors; 3) legal and judicial reform; and 4) sustained implementation of civil service reforms.

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