Back Matter

Back Matter

Author(s):
Lamin Leigh, and Ali Mansoor
Published Date:
January 2016
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    Index

    • Abdon, Arnelyn, 10–11
    • Accountability, 15f
    • Acemoglu, Daron, 14
    • Active labor market policies (ALMPs), 55, 64, 67–68, 67nn30–31
      • See also ALMPs cross-country experience
    • Adelman, Irma, 134
    • Aduda, J., 110
    • “Africa Rising,” 1
    • Ahmad, Etisham, 142
    • Air Mauritius, 98–99, 98f
    • Aiyar, S., 73
    • Akinlo, A. E., 78n9
    • Algan, Y., 43, 43n3, 52
    • ALMPs. See Active labor market policies
    • ALMPs cross-country experience, 67n32
      • public works programs in, 65–66, 65nn28–29, 69
      • skills in, 64, 67, 67n30, 69
      • taxes in, 66–68
      • wage subsidies in, 66–67, 67n31
    • Ash, M., 85
    • Asian countries, 12f, 82, 82t
    • Balances, 7f
      • in Namibia financial inclusion and stability, 126–28, 126n9
    • Bank distress. See Z-score
    • Bank of Mauritius (BoM), 122–23
    • Banks, 9f, 118, 118n5
      • CBS, 30b–31b
      • competition among, 108–9, 109n3
      • DBM, 96–98, 117b, 120–21
      • insolvency of, 110, 110n4
      • State Bank of Mauritius, 96–98, 121
    • Basdevant, Olivier, 20n9
    • Bates, R. H., 14
    • Beck, Thorsten, 109
    • Behar, A., 41n2, 43, 43n3, 52, 54
    • Belarus, 46nt, 47, 47n14
    • Ben-Bassat, A., 33b, 35–36
    • Benicio, Dalmacio, 20n9
    • Berg, A., 20n9
    • Berger, A., 109n3
    • Binary estimation, 112, 112b
    • Binary response model, 84, 84n15, 94–95
    • Block, S., 14
    • Boeri, T., 42–43, 52
    • BoM. See Bank of Mauritius
    • Bordo, Michael D., 108
    • Borland, J., 42
    • Botswana, 2f, 76f, 81t, 100f
      • GDP per capita in, 74f, 75f, 82t
      • HDI for, 19f
      • reserves adequacy of, 31f, 34t
    • Botswana structural unemployment, 57nn1–2, 58b
      • education in, 56b–57b, 56t
      • skills-mismatch in, 56b–57b
    • Brazil, vi–vii
    • Brosio, Giorgio, 142
    • Buiter, W. H., 34
    • Byung-Yeon Kim, 10–11
    • Cabo Verde, 2f, 81t, 100f, 139–40
      • GDP per capita in, 74f, 75f, 82t
      • growth decomposition in, 76f
      • international reserves in, 29, 32
      • reserves adequacy empirical analysis for, 33nn3–4, 34t, 36–39
      • reserves adequacy of, 31f, 34t
    • Cabo Verde MIC, 23–25
    • Cahuc, P., 43, 43n3, 52
    • Calmfors, L., 42
    • Capacity-building, 147–48
    • Capital, 12–14, 13f, 76f, 88, 88n25
    • Capital deepening, 80
    • Caribbean, 5, 6f, 7
    • Central Bank of Seychelles (CBS), 30b–31b
    • Central government balances, 7f
    • Central government expenditure and wage bill, 48f
    • Chile, 12f, 21–22
    • China, vi–vii
    • Cho, Yoon Je, 133–34
    • Civil society, 141, 141n3
    • Cointegration analysis, 84, 86t, 88n24, 93–94
      • debt-to-GDP ratio in, 88–89, 89t
      • FDI in, 89, 89n27, 89t
      • female labor force in, 90, 90n28
      • inflation in, 89, 89n26, 89t
      • market capitalization in, 88, 88n25
      • skills-mismatch in, 88, 89t
    • Cointegration techniques, 35, 35n6, 35t
    • Common Market for Eastern and Southern Africa, 14
    • Common Monetary Area, 29n1, 39n13
    • Common policy challenges, 4–5, 6f, 7, 7f, 8f, 9f
    • Communication technology, 99
    • Competition, 56b–57b, 108–9, 109n3
    • Constraint, vi, 9f
    • Consumer protection, 128
    • Corruption control, 15f, 52, 127
    • Cost-benefit analysis, 32b–33b
    • Country-specific effects, 51–52, 51t, 52nn20–21
    • Credit regulation, 17f, 117b, 126
      • loans-to-customer-deposits ratio and, 111, 113t, 114t, 115
    • Cross-country research, 7, 8f, 20, 20n8
      • See also ALMPs cross-country experience
    • Crowding-in private investment, 98–99, 98f
    • Crowding-out effect, 42–43, 43n3
    • Dabla-Norris, E., 32b–33b, 35–36
    • Data, 55b, 57n1, 85, 85n16, 110
      • on public employment, and unemployment, 45–46, 45nn8–13
    • David, Antonio, 100n34
    • DBM. See Development Bank of Mauritius (DBM) Ltd
    • Debate, 78
    • Debt, 6f, 7f, 67n31
      • See also Government debt
    • Debt-to-GDP ratio, 37, 85–89, 86t, 87t, 89t
    • Decision-making processes, 141
    • Dejardin, A. K., 69
    • de la Torre, Augusto, 109
    • Demekas, D., 42
    • Demirgüç-Kunt, Asli, 108–9
    • Democracy, 154
      • as SMIC-HIC graduation trait, 11–12, 12f, 12n5, 14–15, 15f
    • Detragiache, Enrica, 108
    • Development Bank of Mauritius (DBM) Ltd, 96–98, 117b, 120–21
    • Dickey-Fuller tests, 35, 35n6, 88n24
    • Difference and system GMM, 93
    • Diouf, M. A., 79
    • Dynamic panel estimation, 84, 84n13, 86t, 93
    • Ease of Doing Business index, 57b, 140, 153, 157
    • Eastern Europe, 141–43, 145
    • Econometric analysis, 49n16, 54–55, 63t
      • country-specific effects in, 51–52, 51t, 52nn20–21
      • endogeneity bias in, 49–50, 49t, 50t
      • GLS in, 48–50, 49t, 50t
      • relative wage in, 52–53, 52n22, 53t
      • simultaneous equation regressions in, 50, 50nn17–19, 51t
    • Economic Policy and Debt Department, World Bank, 85
    • Edin, P.-A., 42
    • Education, 18f, 19f, 21, 156
      • tertiary, 56b–57b, 56t
    • Ehrenberg, R., 42
    • Eichengreen, Barry, 10–11
    • Electricity, 156
    • Empirical analysis. See Reserves adequacy empirical analysis
    • Empirical analysis TFP growth, 85n16
      • empirical results in, 85–86, 85n17, 86t
      • methodology in, 83–84, 84nn13–15
      • panel probit analysis in, 84, 84n15, 86t, 90–91, 91t
      • See also Cointegration analysis; Generalized method of moments
    • Employment shares, 82, 82t
    • Endogeneity bias, 49–50, 49t, 50t
    • Enterprise Survey, World Bank, 108n2, 110, 114
    • Equity-to-assets ratio, 113t, 114t, 115
    • Estevão, M., 85, 95–96, 96n33
    • Estonia, 12f
    • Exchange rate regimes, 74n5
    • Expenditure-to-GDP ratio, 38–39
    • FDI. See Foreign direct investment
    • Feldmann, H., 43
    • Felipe, Jesus, 10–11, 73n2
    • Female labor force, 79, 117b
      • in cointegration analysis, 90, 90n28
    • Fernanzo Fleermuys, Floris, 100n34
    • Financial access, 109, 113t, 114, 114t, 116, 117b
    • Financial development, 79
    • Financial inclusion, vi, 3–5, 96–98
      • in TFP growth, 74, 74n6
    • Financial inclusion and stability, 107, 107n1, 109, 109n3
      • analytic framework on, 110–13, 111b, 112b, 113t
      • findings on, 108, 108n2, 114–16, 114t, 117b, 118–19
      • policy and, 116, 117b, 118–20
      • See also Mauritius financial inclusion and stability; Namibia financial inclusion and stability
    • Financial integrity, 127
    • Financial literacy, 127–28
    • Financial sector, 81t, 96–98
    • Financial stability, 107
      • See also Financial inclusion and stability
    • Finn, M., 42
    • Fixed effects, 48–49, 49n16, 49t, 50t
    • Flores, I., 45, 54, 95, 102
    • FMOLS. See Fully modified ordinary least squares
    • Foreign direct investment (FDI), 13f
      • in cointegration analysis, 89, 89n27, 89t
      • TFP growth and, 78–79, 83
    • Foreign market size, 18f
    • Frenkel, J. A., 36
    • Frictional unemployment, 75, 77, 77n7
    • Fukuyama, Francis, 144
    • Fully modified ordinary least squares (FMOLS), 94
    • Garcia-Verdu, Rodrigo, 100n34
    • GDP, 7f, 9f, 13f, 14, 38–39
      • debt-to-GDP ratio, 37, 85–89, 86t, 87t, 89t
    • GDP per capita, 1, 6f, 8f, 16, 50, 82
      • democracy and, 14
      • in Lesotho, 74f, 75f, 75n1, 82t
      • in TFP growth, 73, 73nn2–3, 74f
    • Gender, 56, 56t
      • female labor force, 79, 90, 90n28, 117b
    • Generalized least squares (GLS), 48–50, 49t, 50t
    • Generalized method of moments (GMM), 88n23
      • government debt in, 86–88, 86n18, 87n20, 87t, 88nn21
    • Gill, Indermit Singh, 10–11
    • Gini coefficient, 12, 12f, 20n10, 100, 100n35
      • on Namibia growth and employment, 100f, 101, 101n36
    • Ginsburg, Tom, 10–11
    • Global Competitiveness Report, 56b–57b
    • GLS. See Generalized least squares
    • GNI per capital, 8f, 11f
    • Gottlieb, D., 33b, 35–36
    • Government, 7f, 17f, 48f, 57b
      • effectiveness of, 15f, 21–22
    • Government debt, 86–88, 86n18, 87n20, 87t, 88nn21
    • Greece, 12f
    • Gregory, R., 42
    • Growth decomposition, 76f, 78, 93–94
    • Hannig, Alfred, 109, 122
    • Hausmann, Ricardo, 34–35, 134–35
    • HDI. See Human development index
    • Health, 18f, 19f, 157
    • Herfindahl index of funding diversity, 111, 113t, 114t
    • Herndon, T., 85
    • Heterogeneity, 2–3, 2f
      • in stylized facts, 46–47, 46t
    • High-income countries (HICs), 10–11
      • MIC-HIC graduation, 19–22, 20n8, 20n11
      • See also SMIC-HIC graduation
    • Holding costs, 36
    • Holmlund, B., 42
    • Honohan, P., 109
    • Households saving, 115–16, 118
    • Housing, 97, 156
    • Huff, W. Gregg, 134
    • Human development index (HDI), 2, 10n3, 19f, 153
    • ICT. See Information and communication technology
    • IMF. See International Monetary Fund
    • Immigration, 16
    • Imports, 30b–31b
    • India, vi–vii
    • Inequality, 100, 100f, 100n35
    • Inflation, 7f, 89, 89n26, 89t
    • Informal sector, 122
    • Information and communication technology (ICT), 99
    • Infrastructure, 4
    • Innovation, 18f, 22
    • Insolvency, 110, 110n4
    • Institutional factors, 79, 80n10
    • Institutional innovation, 22
    • Institutional variables, 48–49, 51f
    • Institutional weakness, 21–22
    • Institutions, 18f, 120–21
    • Interest, 14–15, 15f, 118, 118n5
    • Interest groups, 154
    • Interest rates, 30b
    • International freedom to trade, 17f
    • International migrant stock, 13f
    • International Monetary Fund (IMF), vi–vii, 31b, 68–69, 146
      • peer learning with, 119–20
    • International reserves, v, 29, 32
    • Investment Climate Reform Forum, 157–58
    • Ireland, 12f
    • Jansen, Stefan, 109, 122
    • Japan, 12f
    • Jovanovic, B., 36
    • J test, 50, 50n18
    • Kalunda, E., 110
    • Kaminsky, Graciela L., 108
    • Khan, H. R., 109
    • Kharas, Homi J., 10–11
    • Kim, Byung-Yeon, 10–11
    • Kim, J., 35–36
    • Klapper, L., 109n3
    • Kohli, Harinder, 10
    • Kontolemis, Z., 42
    • Korea, 12f, 133–34
    • Kumar, Utsav, 10–11
    • Labor, 12–14, 13f, 76f
      • See also Female labor force
    • Labor allocation, 79
    • Labor force size, 44–45, 61
    • Labor income, 100–102
    • Labor input, 79
    • Labor market, 18f, 55, 58b–59b, 81t, 153t
      • See also Active labor market policies
    • Labor market institutions, 53–54, 63t
    • Lang, H., 42
    • Latin America, 8f
    • Lau, Lawrence J., 134
    • Lee, Keun, 10–11, 134
    • Legal system, 17f
    • Leigh, L., 45, 54, 95, 102
    • Lesotho, 2f, 81t, 100f
      • GDP per capita in, 74f, 75f, 75n1, 82t
      • growth decomposition in, 76f
      • HDI for, 19f
      • reform in, 157–58
      • reserves adequacy of, 31f, 34t
    • Life expectancy, 19f
    • Linden, J., 42
    • Literature review
      • on financial inclusion and stability, 108–10, 109n3
      • on public employment, and unemployment, 42–43
      • on TFP growth, 77–80, 80t
    • Loans-to-customer-deposits ratio, 111, 113t, 114t, 115
    • Location, 56, 56t
    • Logit estimation. See Probit/logit estimation
    • Loko, B., 79
    • Lower-middle-income countries, 73n2
    • Luxury goods, 13–14
    • Macroeconomic environment, 17f, 81t
    • Macroeconomic reforms, 149–51, 152t–153t, 153–56
    • Macroeconomic variables, 78, 78n9
    • Maksimovic, Vojislav, 109
    • Malley, J., 42
    • Malta, 12f, 22
    • Marginal utility, of public sector goods, 44, 62–63
    • Market capitalization, 88, 88n25
    • Market power, 109n3
    • Market size, foreign, 18f
    • Mauritius, 2f, 16, 19f, 58b–59b
      • crowding-in private investment of, 98–99, 98f
      • DBM, 96–98, 117b, 120–21
      • GDP per capita in, 74f, 75f, 82t
      • growth decomposition in, 76f
      • reforms in, 77b, 136–39, 138b
      • reserves adequacy of, 31f, 34t
      • structural impediments in, 81t
      • TFP growth of, 91–92, 91t, 96–99, 98f
      • Mauritius financial inclusion and stability, 117b
      • BoM in, 122–23
      • informal sector in, 122
      • institutions in, 120–21
      • policies in, 121–22
      • progress in, 123–24
      • technologies in, 123
    • Mauritius Housing Company, 97, 121
    • Mauritius structural reforms
      • chronology of, 151, 152t–153t
      • external influences and, 150–51
      • lessons from, 155–56
      • outcomes of, 151, 153
      • political economy of, 153–54
      • strategies for, 149–50
    • Mauritius Telecom, 99
    • Meade, James, 139
    • Medium enterprises, 97
      • SMEs, 90, 91t, 108, 108n2, 116, 117b
    • Methodologies
      • in empirical analysis TFP growth, 83–84, 84nn13–15
      • on public employment, and unemployment, 43–45, 43nn4–5, 44nn6–7
      • TFP, 92–96, 96n32
    • Mexico, 142
    • MIC-HIC graduation, 19–22, 20n8, 20n11
    • Micro, small, and medium enterprises (MSMEs), 97
    • Middle-income countries (MICs), 1, 73n2
      • LICs to, 10, 10n1
      • output, employment shares, and GDP per capita, 82, 82t
      • in reserves adequacy empirical analysis, 33, 33nn3–4, 34t
      • SMICs compared to, 2–3
      • UMICs, 41, 41n1
      • See also Financial inclusion and stability; MIC-HIC graduation
    • Middle-income trap, vi
      • in SMIC-HIC graduation, 10–11, 10nn3–4, 22–23
      • TFP growth and, 73, 74f, 75f, 76f
    • Minns, John, 133
    • Mok, J., 41n2, 43, 43n3, 52, 54
    • Mongardini, J., 39n13
    • Moutos, T., 42
    • MSMEs. See Micro, small, and medium enterprises
    • Multinomial response model, 94–95
    • Naipaul, V. S., 139
    • Namibia, 2f, 19f, 29n1, 58b
      • GDP per capita in, 74f, 75f, 82t
      • growth decomposition in, 76f
      • international reserves in, 29, 32
      • reserves adequacy of, 31f, 34t
      • structural impediments in, 81t
    • Namibia financial inclusion and stability
      • achievements in, 125–26
      • balance in, 126–28, 126n9
      • consumer protection in, 128
      • financial integrity in, 127
      • financial literacy in, 127–28
      • goals in, 124–25, 124n8
    • Namibia growth and employment, 100n34
      • Gini coefficient on, 100f, 101, 101n36
      • inequality and, 100–102, 100f, 100n35
      • labor income in, 100–102
      • public expenditures in, 102
      • structural factors in, 102
    • Nash equilibrium, 16, 16n7
    • Negative correlation, 47, 47n14
    • Nicoletti, G., 52
    • Non-interest income, 118, 118n5
    • OECD. See Organisation for Economic Co-operation and Development
    • Openness, 12–14, 12f, 12n5, 13f, 78
    • Ordinary least squares (OLS), 48–49, 49t, 50t
      • See also Fully modified ordinary least squares
    • Organisation for Economic Co-operation and Development (OECD), 42–43
    • Ostry, Jonathan D., 20n9
    • Output, employment shares, and GDP per capita, 82, 82t
    • Pacific islands, 5, 6f, 7
    • Panel cointegration analysis, 93–94
    • Panel estimation, dynamic, 84, 84n13, 86t
    • Panel probit analysis, 90–91, 91t
      • in empirical analysis TFP growth, 84, 84n15, 86t
    • Park, Donghyun, 10–11
    • Park Geun-hye, 134
    • Patel, U. R., 34
    • Pedroni, Peter, 84n14, 88n24
    • Peer comparison, 31b
    • Peerenboom, Randall, 10–11
    • Peer learning, vi
      • capacity-building and, 147–48
      • with IMF, 119–20
      • progress review in, 148
      • reforms and, 144–45
      • team-building for, 147
    • Peer support, 144–45, 158
    • Penn World Tables (PWT), 85
    • Pensions, 152t, 157
    • Per capita income growth rates, 2–3
      • See also GDP per capita
    • Performance indicators, 156–57
    • Physicians, 19f
    • Pitcher, M. Anne, 140
    • Policies, 55, 57b, 57n2, 121–22
      • See also Common policy challenges; Financial inclusion and stability
    • Political economy, vi, 131–32
      • reforms in, 135–46, 136b, 138b, 141n3, 142n4, 153–54
      • success in, 133–34
    • Political openness, 12, 12f, 12n5
    • Political parties, 154
    • Political will, 133
    • Pollin, R., 85
    • Portugal, 12f
    • Poverty, 23
    • Private institutions, 18f
    • Private sector, 41–43
    • productivity of, 44–45, 61–62
      • See also Public employment, and unemployment
    • Probit/logit estimation, 94–95
    • Productivity, 57b
    • private sector, 44–45, 61–62
      • See also Total factor productivity
    • Progress review, 148
    • Property rights, 17f
    • Public debt, 6f, 7f
    • Public employment, 44–45, 45n11, 48f, 61–62
    • Public employment, and unemployment, 58b–59b, 63t
      • ALMPs and, 55, 64, 67–68, 67nn30–31
      • ambiguity and, 43–44, 43n5
      • crowding-out effect in, 42–43, 43n3
      • data on, 45–46, 45nn8–13
      • literature review on, 42–43
      • methodology on, 43–45, 43nn4–5, 44nn6–7
      • results in, 42, 54–55
      • sample on, 41, 41n1, 45n8, 45n10
      • theoretical model in, 59–63
      • See also Botswana structural unemployment; Econometric analysis; Stylized facts
    • Public expenditures, 102
    • Public institutions, 18f
    • Public officials, 141–42
    • Public-private wage ratio, 44, 60–62
    • Public sector, 44, 62–63, 81t
    • private sector wages relative to, 48f
    • Public transport, 156
    • Public works programs, 57b, 57n2, 58b, 68
      • in ALMPs cross-country experience, 65–66, 65nn28–29, 69
    • PWT. See Penn World Tables
    • R&D. See Research and development
    • Recession, 139, 149
    • Reforms
      • appetite for, 142–44, 142n4, 146
      • consensus about, 136b, 146
      • before emergency, 139–40
      • in Lesotho, 157–58
      • losers in, 142–43
      • macroeconomic, 149–51, 152t–153t, 153–56
      • in Mauritius, 77b, 136–39, 138b
      • for MIC-HIC graduation, 19–20
      • peer learning and, 144–45
      • in political economy, 135–46, 136b, 138b, 141n3, 142n4, 153–54
      • after shock, 139
      • SMIC-HIC graduation traits and, 15–16
      • social, 151, 152t, 153t
      • in stability, 140–42, 141n3
      • See also Mauritius structural reforms; Structural reforms
    • Regional Economic Outlook: Sub-Saharan Africa (REO), 101
    • Regulatory factors, 79–80
      • credit regulation, 17f, 111, 113t, 114t, 115, 117b, 126
    • Regulatory quality, 15f
    • Reinhart, C. M., 85
    • Relative wage, 52–53, 52n22, 53t
    • Rents, 44, 44n7, 54, 140–41
    • REO. See Regional Economic Outlook: Sub-Saharan Africa
    • Research and development (R&D), 78–79
    • Reservation wages, 57b
    • Reserves adequacy, 9f, 29, 32
      • of Seychelles, 30b–31b, 31f, 33n4
    • Reserves adequacy empirical analysis, 32, 39n13, 39nn10–11
      • approaches in, 32b–33b, 34, 34n5
      • for Botswana, 31f, 34t
      • for Cabo Verde, 31f, 33nn3–4, 34t, 36–39
      • cointegration techniques in, 35, 35n6, 35t
      • cost-benefit analysis in, 32b–33b
      • determinants in, 34–35
      • holding costs in, 36
      • MICs in, 33, 33nn3–4, 34t
      • for Swaziland, 33n4, 34t, 37–38, 38f
    • Reserves adequacy metric, 31b, 31f
    • Resource richness, 81t
    • Return on assets (ROA), 111
    • ROA. See Return on assets
    • Road maintenance project, 58b
    • Rodrik, Dani, 52, 134–35, 142
    • Rogoff, K. S., 85
    • Roy, Devesh, 142n4
    • Rule of law, 15f
    • Russia, vi–vii, 46t, 48f
    • Samples, 41, 41n1, 45n8, 45n10, 107, 107n1
    • Scarpetta, S., 42–43, 52
    • Schwartz, Anna J., 108
    • Schwarz, J., 42
    • Sectoral composition, 79
    • Seychelles, 76f, 81t, 139, 143
      • GDP per capita in, 74f, 75f, 82t
      • HDI for, 19f
      • reserves adequacy of, 30b–31b, 31f, 33n4
    • Shin, Kwanho, 10–11
    • Shirono, K., 35–36
    • Shock, 139
    • Short-term political interest, 14–15, 15f
    • Short-term risk, 16–17
    • Simultaneous equation regressions, 50, 50nn17–19, 51t
    • Singapore, 12f, 16, 21–22, 134
    • Skill level demand, 96
    • Skill level supply, 96
    • Skills, 64, 67, 67n30, 69
    • Skills mismatch, 56b–57b
      • in cointegration analysis, 88, 89t
      • in GMM, 86–87, 86n18, 87t
    • Skills-Mismatch Index (SMI), 74, 85, 85n16, 95–96
    • Slowdowns, 4–5
      • stylized facts (TFP growth) and, 80, 80n11
      • in TFP growth, 73, 73n4
    • Small and medium enterprises (SMEs), 116, 117b
      • definition of, 108, 108n2
      • in TFP growth, 90, 91t
    • Small enterprises, 97
    • Small middle-income countries (SMICs), v–vii, 23–24
      • common policy challenges in, 4–5, 6f, 7, 7f, 8f, 9f
      • economic outcomes of, 1–2
      • heterogeneity of, 2–3, 2f
      • MICs compared to, 2–3
      • in panel probit analysis, 90–91, 91t
      • small states compared to, 6f
      • unemployment in, 3
    • Small states, 6f
    • SMEs. See Small and medium enterprises
    • SMI. See Skills Mismatch Index
    • SMIC-HIC graduation, 10n2
      • middle-income trap in, 10–11, 10nn3–4, 22–23
    • SMIC-HIC graduation traits, 22–23
      • causation in, 12n5, 14, 14n6
      • democracy as, 11–12, 12f, 12n5, 14–15, 15f
      • divergence in, 18–19, 18f, 19f
      • immigration in, 16
      • Nash equilibrium and, 16, 16n7
      • openness to capital, trade, labor in, 12–14, 13f
      • political openness in, 12, 12f, 12n5
      • reforms and, 15–16
      • short-term political interest in, 14–15, 15f
      • short-term risk in, 16–17
      • similarities in, 16–19, 17f, 18f, 19f
    • SMICs. See Small middle-income countries
    • Social contracts, 11, 148
    • Social reforms, 151, 152t, 153t
    • Social security, 25
    • South Africa, vi–vii, 100f
    • Southern African Customs Union, 37, 39n13
    • Southern African Development Community, 14
    • South Korea, 12f
    • Spain, 12f
    • SSA. See Sub-Saharan Africa
    • Stability, 140–42, 141n3
      • See also Financial inclusion and stability; Mauritius financial inclusion and stability; Namibia financial inclusion and stability
    • State Bank of Mauritius, 96–98, 121
    • State Insurance Company of Mauritius, 96, 98, 121
    • Strategies, 149–50
    • Structural factors, 102
    • Structural impediments, 81t, 83
      • See also Botswana structural unemployment
    • Structural reforms, 5
      • for TFP growth, 74–75, 77, 77b, 77n7
      • See also Mauritius structural reforms
    • Structural transformation, 79, 80n12, 82b–83b, 82t
    • Stylized facts, 47f, 47n15, 48, 48f
      • heterogeneity in, 46–47, 46t
      • negative correlation in, 47, 47n14
    • Stylized facts (TFP growth)
      • capital deepening and, 75f, 80
      • FDI in, 83
      • slowdowns and, 80, 80n11
      • structural impediments in, 81t, 83
      • structural transformation and, 80n12, 82b–83b, 82t
    • Subramanian, Arvind, 142n4
    • Sub-Saharan Africa (SSA), vi, 2f, 9f
    • Swaziland, 2f, 12f, 29n1, 100f, 139
      • GDP per capita in, 74f, 75f, 82t
      • growth decomposition in, 76f
      • HDI for, 19f
      • reserves adequacy empirical analysis for, 33n4, 34t, 37–38, 38f
      • reserves adequacy of, 31f, 34t
      • structural impediments in, 81t
    • System GMM. See Difference and system GMM
    • Taiwan Province of China, 12f, 134
    • Targeted Intervention Program for Employment and Economic Growth (TIPEEG), 39n12, 58b
    • Taxes, 58b, 152t, 155
      • in ALMPs cross-country experience, 66–68
    • Team-building, 147
    • Technologies, 118, 120
      • ICT, 99
      • in Mauritius financial inclusion and stability, 123
      • in TFP growth, 78–79
    • Telecommunications intervention, 99
    • TFP. See Total factor productivity
    • TFP growth, 73n1, 96t
      • debate over, 78
      • determinants of, 80t
      • exchange rate regimes and, 74n5
      • FDI and, 78–79, 83
      • female labor force in, 79
      • financial development in, 79
      • financial inclusion in, 74, 74n6
      • GDP per capita in, 73, 73nn2–3, 74f
      • growth decomposition and, 76f, 78, 93–94
      • institutional factors in, 79, 80n10
      • labor input and allocation in, 79
      • literature review on, 77–80, 80t
      • macroeconomic variables and, 78, 78n9
      • of Mauritius, 91–92, 91t, 96–99, 98f
      • middle-income trap and, 73, 74f, 75f, 76f
      • openness and, 78
      • regulatory factors in, 79–80
      • sectoral composition in, 79
      • slowdown in, 73, 73n4
      • SMEs in, 90, 91t
      • SMI and, 74
      • structural reforms for, 74–75, 77, 77b, 77n7
      • structural transformation in, 79
      • technologies in, 78–79
      • variables of, 78, 78n9, 80t
      • See also Empirical analysis TFP growth; Stylized facts (TFP growth)
    • Theoretical model, 59–63
    • TIPEEG. See Targeted Intervention Program for Employment and Economic Growth
    • Total factor productivity (TFP), vi, 9f, 57, 67n31
      • modeling methodologies of, 92–96, 96n32
      • See also TFP growth
    • Tourism intervention, 98–99, 98f
    • Trade, 12–14, 13f, 17f
    • Training, 18f, 21
    • Transparency, 140–41
    • Transport, 98–99, 98f, 156
    • Tsounta, E., 85, 95–96, 96n32
    • Turk-Ariss, R., 109n3
      • 2008-09 global financial crisis, 25, 30b
    • Ukraine, 46nt, 47, 47n14
    • UMICs. See Upper-middle-income-countries
    • Under-five mortality rate, 19f
    • Unemployment, v, 4, 9f, 48f, 157
      • definition of, 45, 45n10, 54
      • frictional, 75, 77, 77n7
      • in SMICs, 3
      • See also Botswana structural unemployment; Public employment, and unemployment
    • Upper-middle-income-countries (UMICs), 41, 41n1
    • Variables
      • institutional, 48–49, 51f
      • of TFP growth, 78, 78n9, 80t
    • Velasco, Andrés, 134–35
    • Voice and accountability, 15f
    • Volatility, 4
    • Wage subsidies, 59b, 69
      • in ALMPs cross-country experience, 66–67, 67n31
    • Wagner’s law, 45, 45n13, 52
    • West African Economic and Monetary Union, 14
    • Women. See Gender
    • World Bank, 5n1, 119, 138b
      • Economic Policy and Debt Department, 85
      • Enterprise Survey, 108n2, 110, 114
    • World Development Indicators, 85, 100n35, 110
    • World Economic Forum, 46, 56b
    • World Economic Outlook, 10n4, 39, 85
    • World Governance Indicators, 14, 15f
    • Yakhshilikov, Yorbol, 20n9
    • Zettelmeyer, Jeromin, 20n9
    • Z-score, 110
      • binary estimation of, 112, 112b
      • derivation of, 111–12, 111b, 112b
      • ROA in, 111
    • Zylberberg, A., 43, 43n3, 52
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