Madagascar : Back to the Future on the Road to Sustained and Balanced Growth, Country Economic Memorandum, Volume 1, Main Report

World Bank

Washington, DC

关键词: ABSENTEEISM;    ACCESS TO CREDIT;    ACCESSIBILITY;    ACCOUNTABILITY;    ACCOUNTING;   

RP-ID  :  46449

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The objective of this study is toaccompany Malagasy authorities in their transition towardseconomic emergence. If the contribution of foreign capitaland the abundance of natural resources should help theMalagasy economy escape from the poverty trap by increasingits domestic savings and investment capacities, as well asits technological capacities. International experiencereminds us that this transition is far from being automatic.Indeed, there are more examples of countries that havefailed than of those who have succeeded. The successes ofChile, Tunisia, Malaysia, Mauritius, and Botswana caninspire the Malagasy policy makers while showing them whicheconomic policy choices become imperative. This study isdivided into four parts. The first part begins with ananalysis of Madagascar's economic performance, tryingto recall its fragility in spite of the good resultsrecorded over these last few years. This fragility will behighlighted through the relatively narrow basis of theeconomic growth that has greatly relied on foreign capitalinflows, putting the need to follow an adequate foreignexchange management policy at the center of the agenda and,thus, minimize its possible negative impact on exports. Thesecond part will focus on the issue of private sectorpromotion. Recent diagnoses of Madagascar's economy andthe strategy adopted by Malagasy authorities (with thesupport of its development partners) have shown that to besustained and shared out over time, economic growth willhave to rely on a dynamic and competitive private sector.The third part is dedicated to sharing the fruits ofeconomic growth by giving a special emphasis to thedistribution of the benefits related to the large mining andtourism investment projects within the population. Theselarge projects represent a unique opportunity forMadagascar's development but also undoubtedly a dangerif they do not allow the emergence of spillover effectsamong the local businesses and labor force. Finally, thefourth and final part proposes an agenda of economicreforms. Ambition is not to formulate a patchy list ofproposals, but rather to propose a series of options thatwill help address the issues of competitiveness and sharedgrowth that are central to the success of the currentstrategy followed by the Malagasy authorities.