Macroeconomic Research in Low-income Countries

Released on by Hites Ahir
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  • Macroeconomic Research in Low-income Countries Book Detail

  • Author : Hites Ahir
  • Release Date : 2021-03-24
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 76
  • ISBN 13 : 1513566601
  • File Size : 3,3 MB
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Macroeconomic Research in Low-income Countries by Hites Ahir PDF Summary

Book Description: Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.

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Limited diversification is an underlying characteristic of many low-income countries (LICs). Concentration in sectors with limited scope for increases in produc

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