The Afghanistan Investment Climate in 2008 : Growth Despite Poor Governance, Weak Factor Markets, and Lack of Innovation
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World Bank
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This survey report will help the
government of Afghanistan think through its approach to
private sector development. Historically, there has been a
dearth of information and reliable statistics about
Afghanistan's economy. This report reviews the
constraints that firms currently operating in Afghanistan
face and provides a basis for possible policy
recommendations to address these constraints. It is hoped
that the report will be a useful tool to support investment
climate reforms and enhance the private sector dialogue in
Afghanistan. The report also identifies a group of emerging
issues that include the interlinked issues of
competitiveness, innovation, and diversification. Despite
strong growth, policymakers should be concerned about the
lack of entry of new firms, especially foreign firms, and
the lack of innovative behavior. These two factors indicate
a lack of competitiveness and warrant further research. An
undiversified manufacturing sector that is overwhelmingly
linked to the agriculture and agro-processing sectors are
also of concern. The strong growth trend itself needs more
evaluation. A country that has weak governance, poor factor
markets, and firms that are not innovative is unlikely to
achieve sustainable long-term growth. The report discusses
the issues noted above, summarizes the status of reforms,
and suggests some next steps, including further analytic
work on a number of topics, public private dialogue on
certain issues, and stronger government reform efforts.
Palabras clave
ACCESS TO FINANCE, ACCESS TO FINANCING, ACCESS TO FORMAL FINANCE, ACCOUNTING, ATM CARDS, AVAILABILITY OF FINANCE, BANK ACCOUNT, BANK ACCOUNTS, BANK CREDIT, BANKING SERVICES, BANKS, BARRIER TO ENTRY, BRIBE, BRIBES, BUSINESS ACTIVITIES, BUSINESS ACTIVITY, BUSINESS ASSOCIATION, BUSINESS ENVIRONMENT, BUSINESS PROBLEMS, BUSINESS TRANSACTIONS, COLLATERAL, COLLEGE EDUCATION, COMMERCIAL BANKS, COMPANY, CORRUPTION, CREDIT CARD, CREDIT CARDS, CURRENCY, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DIVERSIFICATION, DOMESTIC MARKET, EARNINGS, EARNINGS EQUITY, ECONOMIC DEVELOPMENT, EDUCATIONAL ATTAINMENT, ELECTRONIC BANKING, EMERGING MARKET, EMERGING MARKET ECONOMIES, ENROLLMENT, ENTREPRENEURS, EQUIPMENT, EQUITY FINANCING, EXCHANGE RATE, EXPANSION, EXPORTER, EXPORTERS, FINANCE ACCESS, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL SECTOR ASSESSMENT, FIRM SIZE, FIRM SIZES, FIRMS, FIXED ASSETS, FOREIGN COMPANIES, FOREIGN DIRECT INVESTMENT, FOREIGN FIRMS, FORMAL CREDIT, FORMAL FINANCIAL SECTOR, GENDER, GOVERNANCE ISSUES, GOVERNMENT POLICIES, GOVERNMENT POLICY, GOVERNMENT REGULATIONS, HANDICRAFTS, HOUSEHOLDS, HUMAN CAPITAL, HUMAN RESOURCE, INDICATORS OF ACCESS, INFRASTRUCTURE DEVELOPMENT, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCE, INTERNATIONAL MARKETS, INVESTING, INVESTMENT CLIMATE, INVESTMENT CLIMATES, INVESTMENT DECISIONS, ISSUANCE, JUDICIAL REFORM, JUDICIAL SYSTEM, LABOR MARKETS, LAND AS COLLATERAL, LAND REGISTRATION, LICENSING, LOAN, LOAN SIZE, MACROECONOMIC INSTABILITY, MANUFACTURERS, MARKET ECONOMIES, MARKET ECONOMY, MEDIUM ENTERPRISE, MONETARY FUND, MONEYLENDERS, NONGOVERNMENTAL ORGANIZATIONS, OUTPUT LOSSES, OVERDRAFT, OVERDRAFT FACILITY, PAYMENT SERVICES, PERSONAL ASSETS, POLICY DESIGN, PRIVATE INVESTMENT, PRIVATE SECTOR DEVELOPMENT, PROFITABILITY, PROPERTY RIGHTS, PUBLIC POLICY, REGISTRATION PROCESS, REGISTRATION SYSTEM, REGULATORY BURDENS, RETURNS, RULE OF LAW, SALES GROWTH, SANITATION FACILITIES, SMALL FIRMS, SME, SOURCES OF FINANCE, STATE BANKS, TAX, TAX RATES, TELECOMMUNICATIONS, TRADING, TRANSPARENCY, TRUST FUND, UNION, WARRANTS, WATER CONNECTION, WATER SUPPLY, WOMAN, WORKING CAPITAL