Liberia : Strategic Policy Options for Medium Term Growth and Development

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dc.creatorDessus, Sébastien
dc.creatorHoffman, Jariya
dc.creatorLofgren, Hans
dc.date2013-11-06T16:39:27Z
dc.date2013-11-06T16:39:27Z
dc.date2012-06
dc.date.accessioned2026-07-01T01:03:16Z
dc.descriptionThe objective of this paper is to inform Liberia's medium-term growth and development strategy for 2012-17 and its National Vision: Liberia Rising 2030, both of which are under preparation. The analysis is based on MAMS (Maquette for MDG [Millennium Development Goal]) Simulations, a computable general equilibrium model. A base scenario (designed to represent a central case for the evolution of Liberia's economy up to 2030) is compared to a set of non-base scenarios that introduce alternative assumptions for the mining sector, government spending on infrastructure and human development, as well as foreign borrowing. The simulations, which cover the period 2012-2030, indicate that rapid expansion of mining output, front-loaded investment in infrastructure, and improved government efficiency may bring about rapid growth. The findings underscore the importance of allocative and operational efficiency of public spending. It is also important that the government balance spending on infrastructure and human development as they complement each other and face different constraints. Spending on infrastructure tends to have relatively strong and immediate growth and poverty reduction effects, whereas spending on human development has a stronger positive impact on non-poverty MDG indicators at the cost of lowered economic growth in the short to medium terms. It is important to consider that growth driven by rapid mining expansion entails drawbacks and risks, including the persistence of an enclave economy that will not benefit the majority of the population, and increased vulnerability to fluctuations in iron ore world prices.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttps://hdl.handle.net/10986/16223
dc.identifierhttps://doi.org/10.1596/1813-9450-6081
dc.identifier.urihttp://hdl.handle.net/123456789/414755
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 6081
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rightsWorld Bank
dc.subjectabsenteeism
dc.subjectAccounting
dc.subjectagricultural sectors
dc.subjectagriculture
dc.subjectAllocative efficiency
dc.subjectBalance of payments
dc.subjectbenchmark
dc.subjectbudget constraint
dc.subjectbudget constraints
dc.subjectcapital account
dc.subjectcapital formation
dc.subjectcapital intensity
dc.subjectcapital stock
dc.subjectcapital stocks
dc.subjectcommodities
dc.subjectcommodity
dc.subjectCredit Facility
dc.subjectcurrent account
dc.subjectcurrent account deficit
dc.subjectdata availability
dc.subjectdebt
dc.subjectdebt capital
dc.subjectdebt interest
dc.subjectdebt stock
dc.subjectdebt stocks
dc.subjectdemand curves
dc.subjectdemand declines
dc.subjectDeveloping Country
dc.subjectDevelopment Economics
dc.subjectdevelopment policies
dc.subjectdevelopment policy
dc.subjectdevelopment strategy
dc.subjectdisposable income
dc.subjectDomestic borrowing
dc.subjectdomestic debt
dc.subjectdomestic market
dc.subjectdomestic markets
dc.subjectdomestic price
dc.subjectdomestic prices
dc.subjecteconomic activities
dc.subjecteconomic growth
dc.subjectEconomic Policy
dc.subjecteducation spending
dc.subjecteducational attainment
dc.subjecteducational attainments
dc.subjectelasticity
dc.subjectelasticity of substitution
dc.subjectexports
dc.subjectfactor demand
dc.subjectFactor markets
dc.subjectfactors of production
dc.subjectfinances
dc.subjectfinancial resources
dc.subjectFixed investment
dc.subjectforeign debt
dc.subjectforeign debts
dc.subjectforeign direct investment
dc.subjectforeign exchange
dc.subjectForeign government
dc.subjectForeign interest
dc.subjectforeign transactions
dc.subjectfull employment
dc.subjectGDP
dc.subjectgeneral equilibrium
dc.subjectGini coefficient
dc.subjectgovernment borrowing
dc.subjectGovernment budget
dc.subjectgovernment debt
dc.subjectgovernment investments
dc.subjectgovernment revenue
dc.subjectgovernment spending
dc.subjectgross national savings
dc.subjectgrowth rate
dc.subjectholdings
dc.subjecthouseholds
dc.subjecthuman development
dc.subjectincome
dc.subjectincomes
dc.subjectinequality
dc.subjectInformation Services
dc.subjectinitial investment
dc.subjectinterest payments
dc.subjectinternal rates of return
dc.subjectInternational Bank
dc.subjectinvestment climate
dc.subjectinvestment financing
dc.subjectinvestment flow
dc.subjectinvestment spending
dc.subjectlabor force
dc.subjectlabor market
dc.subjectlow-income countries
dc.subjectmarginal productivity
dc.subjectmarginal value
dc.subjectmarket prices
dc.subjectmiddle-income countries
dc.subjectmiddle-income country
dc.subjectmortality
dc.subjectmotivation
dc.subjectnational economy
dc.subjectnatural resources
dc.subjectoperational efficiency
dc.subjectoutput
dc.subjectoutputs
dc.subjectpayment flows
dc.subjectprice change
dc.subjectprice changes
dc.subjectprice levels
dc.subjectprivate capital
dc.subjectPrivate investment
dc.subjectprivate savings
dc.subjectprivate sector development
dc.subjectproductivity increases
dc.subjectprofit maximization
dc.subjectpublic spending
dc.subjectrapid expansion
dc.subjectrapid growth
dc.subjectreal exchange rate
dc.subjectReal GDP
dc.subjectreal growth rates
dc.subjectreal interest
dc.subjectreal interest rates
dc.subjectreceipt
dc.subjectreceipts
dc.subjectReturns
dc.subjectsales revenue
dc.subjectsavings
dc.subjectsavings rate
dc.subjectservants
dc.subjectshare of investments
dc.subjectsmall country
dc.subjectsuppliers
dc.subjectsupply curve
dc.subjectsupply curves
dc.subjecttax
dc.subjecttax rate
dc.subjecttax rates
dc.subjecttelecommunications
dc.subjecttotal factor productivity
dc.subjecttrade deficit
dc.subjectTransactions costs
dc.subjectTrust Fund
dc.subjectunemployment
dc.subjectunemployment rate
dc.subjectwages
dc.subjectWorld Development Indicators
dc.subjectworld markets
dc.titleLiberia : Strategic Policy Options for Medium Term Growth and Development

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