Liberia - Tapping Nature’s Bounty for the Benefits of All : Diagnostic Trade Integration Study, Volume 1. Main Report
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Washington, DC
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Liberia is a rich country, badly
managed. This is a favorite comment of President Ellen
Johnson-Sirleaf and an accurate one. The bad management is
well-known, though perhaps not its duration and depth.
Created in 1847, the country is far older than almost all
others in sub- Saharan Africa. But for most of this time, it
was ruled by an elite descended from African-American
settlers who ignored or exploited the indigenous people. The
result was growth without development, stark inequality,
social tension and the seeds of unrest. The political order
was turned upside down in a bloody coup in 1980, but bad
management continued. Within ten years the country descended
into civil war from which it only emerged in 2003. The 90
percent decline in Gross Domestic Product (GDP) is possibly
the most extreme economic collapse ever experienced in the
world. This study lays out a comprehensive pro poor trade
strategy in support of the medium-term growth agenda of
Liberia. The new Poverty Reduction Strategy (PRS) for
Liberia recognizes all this. Indeed, this Diagnostic Trade
Integration Study (DTIS) and the PRS were developed in
parallel and with considerable cross-fertilization. A joint
workshop was held on the productive sectors in February
2008. The role of this study is therefore to reinforce the
message contained in the PRS, deepen the analysis, and offer
some practical next steps.
Palabras clave
ACCESS TO CAPITAL, ACCOUNTING, AGRICULTURE, ARREARS, AUCTION, AUCTION SYSTEM, AUCTIONS, BALANCE OF PAYMENT, BALANCE OF PAYMENTS, BANK LENDING, BANKING SECTOR, BARRIERS TO ENTRY, BIDS, BROAD MONEY, CASH PAYMENTS, CDS, CENTRAL BANK, CIVIL WAR, COLLATERAL, COLLECTIVE ACTION, COMMERCIAL BANKS, COMMODITIES, COMMODITY, COMMODITY PRICE, COMMODITY PRICES, COMPARATIVE ADVANTAGE, COMPETITIVE MARKET, COMPREHENSIVE STRATEGY, CONSUMER GOODS, CONSUMERS, CREDIT UNIONS, CREDITWORTHINESS, CROP VALUE, CURRENCY, CURRENCY MARKET, CUSTODY, DEBT RELIEF, DEMAND FOR MONEY, DEPOSIT, DEPOSITS, DEVELOPMENT ASSISTANCE, DEVELOPMENT FINANCE, DEVELOPMENT PATH, DEVELOPMENT PROJECTS, DEVELOPMENT STRATEGY, DOMESTIC DEBT, DOMESTIC MARKET, DONOR AGENCIES, DUE DILIGENCE, ECONOMIC SECTORS, ECONOMIES OF SCALE, ENTERPRISE ASSISTANCE, ENVIRONMENTAL IMPACTS, ENVIRONMENTAL ISSUES, EQUITY CAPITAL, EXCHANGE RATES, EXCISE TAXES, EXPENDITURES, EXPORT COMPETITIVENESS, EXPORT SECTORS, EXPORTER, EXPORTERS, EXPORTS, EXTERNAL DEBT, FINANCE COMPANY, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SERVICES, FISCAL DEFICITS, FISCAL DISCIPLINE, FISCAL POLICY, FOOD PRICE, FORECASTS, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FOREIGN INVESTMENT, FOREIGN INVESTORS, FOREIGN TRADE, FREE TRADE, FREE TRADE AGREEMENT, GDP, GDP PER CAPITA, GLOBAL ECONOMY, GLOBAL MARKET, GLOBAL MARKETS, GOVERNMENT BUDGET, GOVERNMENT CAPACITY, GOVERNMENT EXPENDITURES, GOVERNMENT FINANCES, GOVERNMENT REVENUE, GOVERNMENT REVENUES, GROWTH RATE, GROWTH WITHOUT DEVELOPMENT, HOLDING, HOLDINGS, HUMAN CAPITAL, INCOME TAX, INDUSTRIALIZATION, INFLATION, INFORMATION SERVICES, INFRASTRUCTURE DEVELOPMENT, INSTITUTIONAL CAPACITY, INSTRUMENT, INTEREST RATES, INTERNATIONAL DEVELOPMENT, INTERNATIONAL TRADE, INTERNATIONAL TRANSACTIONS, INVESTING, INVESTMENT CLIMATE, INVESTMENT FINANCING, ISSUANCE, ISSUANCE OF GOVERNMENT SECURITIES, ITC, LAND OWNERSHIP, LAND OWNERSHIPS, LDCS, LENDER, LENDER OF LAST RESORT, LEVY, LIBERALIZATION, LIQUID ASSETS, LIQUIDITY, LIVING STANDARDS, LOAN, LOAN RATE, LOAN RECOVERY, LOCAL BANKS, LOCAL CURRENCY, LOCAL INVESTORS, LOCAL MARKET, MACROECONOMIC CONDITIONS, MACROECONOMIC ENVIRONMENT, MACROECONOMIC MANAGEMENT, MACROECONOMIC POLICIES, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MACROECONOMICS, MARKET ACCESS, MARKET FOR GOVERNMENT SECURITIES, MARKET INFORMATION, MARKET PRICES, MEDIUM OF EXCHANGE, MICRO-FINANCE, MICRO-FINANCE INSTITUTION, MICROFINANCE, MICROFINANCE INSTITUTIONS, MONETARY AUTHORITIES, MONETARY FUND, MONETARY POLICY, MONEY SUPPLY, MORTGAGE, NATIONAL INVESTMENT, NATIONAL OUTPUT, NATURAL RESOURCE, NATURAL RESOURCES, OPEN MARKET, OUTSOURCING, OVERSEAS BANKS, OVERVALUATION, PER CAPITA INCOME, PERSONAL INCOME, PERSONAL LOAN, POLICY CREDIBILITY, POSITIVE EFFECTS, POVERTY ALLEVIATION, PRICE CONTROLS, PRICE STABILITY, PRIVATE INVESTORS, PRIVATIZATION, PROPERTY RIGHTS, PUBLIC BORROWING, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC-PRIVATE PARTNERSHIP, RATES OF INFLATION, RATES OF INTEREST, REAL EXCHANGE RATE, REAL GDP, REGIONAL INTEGRATION, REGULATORY AGENCY, REGULATORY FRAMEWORK, REGULATORY STRUCTURE, REMITTANCES, RENEGOTIATION, RESERVES, RETAIL BANKING, RETURN, RETURNS, RISK MANAGEMENT, SAVINGS, SAVINGS RATE, SECURITY ARRANGEMENTS, SETTLEMENT, SMALL ENTREPRENEURS, SMALL LOANS, SUPERVISORY AUTHORITY, SUSTAINABLE DEVELOPMENT, TAX, TAX EXEMPTIONS, TAX INCENTIVES, TAX OBLIGATION, TAX RATE, TAX REVENUES, TAXATION, TECHNICAL ASSISTANCE, TIME DEPOSIT, TRADE DEFICIT, TRADE POLICY, TRADE REGIME, TRADING, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, TRANSPARENCY INITIATIVE, UNEMPLOYMENT, UNFAIR COMPETITION, VALUE ADDED, WAREHOUSE, WEALTH, WORLD MARKET, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO