This study examines the growth determinants and the economic policy challenges that Armenia faces to sustain the rapid growth of the past two years. The paper also seeks to answer the following two questions: Why has Armenia performed relatively better than other transition economies? What are...

This Selected Issues paper on Morocco analyzes Morocco’s growth performance over the past thirty-five years with a special focus on the more recent past. The paper presents stylized trends in growth; it first puts the overall growth performance of Morocco in an international perspective,...

This Selected Issues paper for Cambodia explores the implications for long-term sustainable growth from cross-country analysis of the sources of growth. Cambodia’s low labor productivity, inadequate and expensive infrastructure, and a cumbersome regulatory environment do not bode well for...

This paper addresses the issue of threshold effects between public debt and economic growth in the Caribbean. The main finding is that there exists a threshold debt to gross domestic product (GDP) ratio of 55–56 percent. Moreover, the debt dynamics begin changing well before this...

Potential Output is a key factor for debt sustaintability analysis and for developing strategies for growth, but unfortunately it is an unobservable variable. Using three methodologies (production function, switching, and state-space), this paper computes potential output for CAPDR countries...

This Selected Issues paper on Papua New Guinea reports that although economic cycles have generally paralleled the many mineral sector booms and busts, the downward trend in growth rates may reflect other factors. Papua New Guinea’s economy is dominated by a large labor-intensive...