The Republic of Yemen - Economic Growth : Sources, Constraints and Potentials
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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.
Palabras clave
ADMINISTRATIVE REGULATIONS, AGGREGATE GOVERNANCE INDICATORS, AGRICULTURAL OUTPUT, AGRICULTURAL SECTOR, AGRICULTURE, AIR, ANNUAL GROWTH, ANNUAL GROWTH RATE, AVERAGE GROWTH, AVERAGE GROWTH RATE, BUSINESS ENVIRONMENT, BUSINESS SECTOR, CAPITAL ACCUMULATION, CENTRAL BANK, CIVIL SERVICES, CIVIL WAR, COMPARATIVE ADVANTAGE, COMPETITIVE EXCHANGE, COMPETITIVE EXCHANGE RATE, COMPETITIVENESS, CONSUMER PRICE INDEX, CORRUPTION, CRIME, DEBT, DEREGULATION, DIRECT INVESTMENT, DISCOVERIES, DIVERSIFICATION, DOMESTIC MARKETS, DUMPING, ECONOMIC ACTIVITIES, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC REFORMS, ECONOMIC SECTORS, 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 ISSUES, GROSS DOMESTIC PRODUCT, GROWTH, GROWTH PERFORMANCE, GROWTH RATE, GROWTH RATES, HIGH GROWTH, HIGH TAXES, IMPORTS, IMPROVING GOVERNANCE, INCOME, INCOME, INDUSTRIAL SECTOR, INEFFICIENCY, INFRASTRUCTURE INVESTMENT, INSTITUTIONAL ENVIRONMENT, INTEREST RATES, INVESTMENT CLIMATE, LIVING STANDARDS, LONG-TERM GROWTH, MACROECONOMIC MANAGEMENT, MACROECONOMIC PERFORMANCE, MACROECONOMIC REFORMS, MACROECONOMIC STABILITY, MARKET ECONOMY, MONOPOLIES, NATIONAL ACCOUNTS, OIL, OIL PRICES, OIL RESERVES, OIL SECTOR, PARTNERSHIP, PER CAPITA GROWTH, POLICY CHANGES, POLICY REFORMS, POPULATION GROWTH, POVERTY REDUCTION, POVERTY REDUCTION STRATEGY, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRODUCTION COSTS, PRODUCTIVITY GROWTH, PRODUCTIVITY INCREASES, PROPERTY RIGHTS, 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, UNEMPLOYMENT, 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