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