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Business and Economics > Production and Operations Management

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
  • Lesotho, Kingdom of x
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Cover IMF Staff Country Reports
Kingdom of Lesotho: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper focuses on decomposing the public-private sector wage differential in Lesotho. Lesotho’s public wage bill is significantly higher than in other countries in the region. This paper takes a closer look at the civil service wage bill and examines public sector wage premium. It provides an overview of public sector employment and compensation, estimates, explores drivers of the wage premium between the public and private sectors, and conducts a decomposition of the public-private wage gap. The upward inertia in the public wage bill has been gradually crowding out all other government spending. Containing the wage bill is essential to ensure fiscal sustainability and improve income distribution. The upward inertia in the public wage bill has been gradually crowding out all other government spending. Containing the wage bill is essential to ensure fiscal sustainability and improve income distribution. Public sector employment should be reduced and managed using a combination of essential hiring, natural attrition, and staff redeployment.
Keywords:
wage distribution; wage premium; D. policy implication; private sector development; wage bill; Wages; Public sector wages; Government wage bill; Public sector; Civil service; Africa; Sub-Saharan Africa; Southern Africa; Global
Cover IMF Working Papers
Increasing Productivity Growth in Middle Income Countries
Aidar Abdychev
,
La-Bhus Fah Jirasavetakul
,
Mr. Andrew W Jonelis
,
Mr. Lamin Y Leigh
,
Ashwin Moheeput
,
Friska Parulian
,
Ara Stepanyan
, and
Albert Touna Mama
Many small middle-income countries (SMICs) in sub-Saharan Africa (SSA) have experienced a moderation in growth in recent years. Although factor accumulation, most notably capital deepening, was crucial to the success of many SMICs historically, this growth model appears to have run its course. The analysis in this paper suggests that the decline in the contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be contributing to the slow implementation of these critical reforms in these countries. The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs need to improve the quality of their public spending, most notably in education to minimize the skill mismatch in the labor market, reduce the regulatory burden on firms, improve access to finance by small and medium-sized enterprises and create the enabling environment to facilitate structural transformation in these economies.
Keywords:
WP; TFP growth; GDP; TFP; labor market; Growth; Productivity; potential growth…; regulation indices; TFP determinant; TFP datum; FDI inflow; SMICs in SSA; long-run TFP growth; credit market; TFP contribution; Total factor productivity; Labor markets; Gender diversity; Africa; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Namibia: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper analyzes policies that can raise potential growth in small middle-income countries (SMICs) of sub-Saharan Africa (SSA). The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs in SSA need to improve the quality of their public spending, most notably on education, to solve the problem of skill mismatch in the labor market, reduce the regulatory burden on firms, improve access to financing by small and medium-size enterprises, and pave the way for structural transformation in these economies. Given the short-term cost of these reforms, the timing and sequencing of reforms and the role of quick wins is important for their implementation. In some cases, a social bargain can be a mechanism to generate consensus around a package of mutually reinforcing reforms.
Keywords:
ISCR; CR; solid windowtext 1pt; bank; TFP growth; bank distress; return on assets; default probability; government debt; TFP determinant; bank Z-score; Total factor productivity; Financial sector stability; Financial inclusion; Productivity; Small and medium enterprises; Global; Africa; determinants of total factor productivity; productivity enhancement; SMICs of SSA; growth decomposition; B. literature review
Cover IMF Staff Country Reports
Kingdom of Lesotho: Selected Issues and Statistical Appendix
International Monetary Fund
The challenge of achieving broad-based growth in Lesotho is discussed. Economic growth is inconsistent. Lesotho is highly dependent on trade with South Africa. The sources of growth in Lesotho using a social accounting matrix model and a growth-accounting framework are outlined. The main constraints to growth and private investment and current policy initiative to promote broad-based growth and private investment are analyzed. The various methods employed suggest that there is neither external stability nor significant evidence of exchange rate misalignment.
Keywords:
ISCR; CR; Lesotho; exchange rate; textile export; doing business indicator; competitiveness rank Lesotho; textile sector; firms in Lesotho; Real exchange rates; Exchange rates; Real effective exchange rates; Purchasing power parity; Income; Africa; Sub-Saharan Africa