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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