Tunisia's Global Integration : Second Generation of Reforms to Boost Growth and Employment
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Washington, DC
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This report addresses the following
issues: Chapter one takes stock of the integration policies
implemented since the early 1970s and assessed their impact
on foreign direct investments (FDI), exports and employment.
Chapter two looks at today's major challenges in the
manufacturing sector and the specific policies needed to
address them. Chapter three assesses the entry, business,
and trade restrictions in Tunisia's key backbone
services sectors (telecommunication, banking, air transport,
accounting, auditing, and legal services) using a
well-focused regulatory questionnaire. The restrictiveness
indices calculated from the regulatory questionnaire are
then used to benchmark Tunisia against Organisation for
Economic Co-operation and Development (OECD) and some
emerging economies and to simulate the impact of various
liberalization options on the price of services and the
economy via a multi-region general equilibrium model.
Finally, chapter four examines the prospect for increasing
exports and off shoring of a large number of services for
which Tunisia has demonstrated a strong capacity for export
in recent years. The significant increase in real incomes in
Tunisia is the result of solid gross domestic product (GDP)
growth since the mid-1960s (5 percent a year), low inflation
and the demographic transition, faster than in neighboring
countries. In 1996-2007, economic growth has exhibited
greater resilience to moderate exogenous shocks, thanks to
prudent macroeconomic management public debt declined from
62.4 percent in 2001 to 50.9 percent of GDP in 2007 thanks
to pro-active debt management. The resulting decline in the
debt service since 2005 combined with steady GDP growth
allowed the government to 'protect' capital
expenditures and key social spending within the context of
low but structural fiscal deficit. While the current account
remained in deficit over the last 10 years, foreign exchange
reserves increased steadily thanks to increasing FDI
inflows. In 2007, international reserves increased by US$ 1
billion to US$ 7.8 billion, representing 4.6 months of
imports of goods and services.
Palabras clave
ACCESS TO INFORMATION, ACCOUNTING, ACTIVE DEBT, AGRICULTURE, ANTI-COMPETITIVE PRACTICES, APPAREL, AVERAGE PRODUCTIVITY, AVERAGE TARIFF, BALANCE OF PAYMENT, BANK PROFITABILITY, BARRIERS TO COMPETITION, BENCHMARK, BENCHMARKING, BENEFICIARIES, BILATERAL AGREEMENT, BILATERAL AGREEMENTS, BILATERAL COOPERATION, BORROWER, BUSINESS ENVIRONMENT, CAPITAL GOODS, COLLATERALS, COMPARATIVE ADVANTAGES, COMPETITION AUTHORITIES, COMPETITION LAW, COMPETITION LAWS, COMPETITION LEGISLATION, COMPETITIVE POSITION, COMPETITIVENESS, CONSUMER PRICES, CONSUMERS, COUNTRY MARKETS, COUNTRY RISK, CREDIBILITY, CREDIT MARKET, CREDIT STRUCTURE, CURRENT ACCOUNT, CUSTOMS CLEARANCE, CUSTOMS PROCEDURES, DEBT, DEBT MANAGEMENT, DEBT SERVICE, DEVELOPING COUNTRY, DEVELOPMENT PROJECTS, DOMESTIC CONSUMPTION, DOMESTIC INDUSTRIES, DOMESTIC MARKET, DOMESTIC MARKETS, DOUBLE TAXATION, ECONOMIC DEVELOPMENT, ECONOMIC EXPANSION, ECONOMIC SECTORS, ECONOMIES OF SCALE, EMERGING ECONOMIES, ENTRY BARRIERS, EQUIPMENT, EQUIPMENTS, EXCHANGE CONTROLS, EXCHANGE RATES, EXOGENOUS SHOCKS, EXPENDITURES, EXPORT BIAS, EXPORT GROWTH, EXPORT MARKET, EXPORT MARKETS, EXPORT OPPORTUNITIES, EXPORT PERFORMANCE, EXPORT VALUE, EXPORT VOLUMES, EXPORTER, EXPORTERS, EXPORTS, EXTERNAL TRADE, FINAL GOODS, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENT, FINANCIAL SECTOR, FINANCIAL SUPPORT, FISCAL DEFICIT, FIXED COSTS, FOREIGN BANKS, FOREIGN DIRECT INVESTMENT, FOREIGN DIRECT INVESTMENTS, FOREIGN EXCHANGE, FOREIGN EXCHANGE RESERVES, FOREIGN FIRMS, FOREIGN INVESTMENT, FOREIGN INVESTORS, FOREIGN MARKETS, FRAUD, FREE ACCESS, FREE TRADE, FREE TRADE AGREEMENTS, FREE TRADE AREA, GDP PER CAPITA, GENERAL EQUILIBRIUM MODEL, GLOBAL COMPETITION, GLOBAL INTEGRATION, GLOBAL MARKET, GROWTH MODELS, GROWTH RATE, HUMAN CAPITAL, HUMAN CAPITAL DEVELOPMENT, HUMAN RESOURCE, INCOME GROWTH, INDUSTRIAL PRODUCTS, INDUSTRIAL SECTOR, INFLATION, INFORMATION TECHNOLOGY, INFRASTRUCTURE DEVELOPMENT, INSURANCE, INSURANCE COMPANIES, INTELLECTUAL PROPERTY, INTERNATIONAL MARKET, INTERNATIONAL PRICES, INTERNATIONAL PRODUCTION, INTERNATIONAL STANDARDS, INTERNATIONAL TRADE, INVENTORY, INVESTING, INVESTMENT CLIMATE, INVESTMENT INCENTIVES, KNOWLEDGE SPILLOVERS, LABOR MARKET, LABOR MARKETS, LACK OF COMPETITION, LIBERALIZATION OF TRADE, LOAN, LOAN DEFAULT, LOAN DEFAULTS, MARKET ACCESS, MARKET ECONOMY, MARKET FAILURE, MARKET FAILURES, MARKET SHARE, MARKET SHARES, MARKET STRUCTURE, MATURITIES, METAL PRODUCTS, MULTILATERAL LIBERALIZATION, MUTUAL RECOGNITION, NET INFLOWS, NONPAYMENT, NONPERFORMING LOANS, OIL EXPORTERS, OPENNESS, OWNERSHIP STRUCTURE, PREFERENTIAL AGREEMENT, PREFERENTIAL AGREEMENTS, PREFERENTIAL PARTNERS, PREFERENTIAL TRADE, PREFERENTIAL TRADE AGREEMENT, PRIVATE CREDIT, PRIVATE INVESTMENT, PROCESS OF NEGOTIATIONS, PRODUCT DIFFERENTIATION, PRODUCTIVITY, PRODUCTIVITY GROWTH, PROPERTY RIGHT, PROTECTION RATES, PUBLIC DEBT, PURCHASING POWER, REAL GDP, REAL INCOME, REGIONAL TRADE, REGULATORY BARRIERS, REGULATORY CONVERGENCE, REGULATORY OVERSIGHT, RETAIL TRADING, RISK OF LOAN, RULES OF ORIGIN, SHAREHOLDER, SPECIALIZATION, STRUCTURAL CHANGE, TARIFF PROTECTION, TARIFF RATE, TARIFF RATES, TARIFF REDUCTION, TARIFF REDUCTIONS, TAX, TAX RATE, TAXATION, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TIMELY PAYMENT, TOTAL FACTOR PRODUCTIVITY, TRADE AGREEMENT, TRADE AGREEMENTS, TRADE DIVERSION, TRADE FACILITATION, TRADE INTEGRATION, TRADE LIBERALIZATION, TRADE LOGISTICS, TRADE NEGOTIATIONS, TRADE POLICY, TRADE REFORM, TRADE REFORMS, TRADE REGIME, TRADE RESTRICTIONS, TRADING, TRANSACTION, TRANSACTION COSTS, TRANSACTIONS COSTS, TRANSPARENCY, TRANSPORT COSTS, TREATIES, TRUST FUND, UNEMPLOYMENT, UNEMPLOYMENT RATE, UNFAIR COMPETITION, UNILATERAL REFORM, URUGUAY ROUND, VALUE ADDED, WAREHOUSES, WELFARE GAINS, WORKING CAPITAL, WORLD MARKETS, WTO, ZERO TARIFFS