Madagascar - New horizons : building a strategy for private-sector, export-led growth - a private sector assessment
Corbo, Vittorio | Fischer, Stanley | Webb, Steven B. [editors]
Since the mid-1980s, Madagascar has undergone major, but incomplete, structural changes in its economy. These have underscored its long run potential, and provided the necessary transformation (in policies, infrastructure and skills) to be effectively carried out. Expanded private investment and production made a key contribution to structural change. They were promoted by a major shift towards a liberalized market economy. However, state intervention remains pervasive in the modern sector and in important sectors of the economy (notably agriculture, mining and infrastructure). Yet Madagascar finds itself today in a similar position to that three decades ago of East Asian economies (such as Malaysia, Indonesia, Thialand), which have since achieved sustained rapid economic growth and improved well-being for their populations. This report analyzes Madagascar's prospects in this context, and the major constraints it faces. It proposes specific measures to overcome these through accelerated private-sector, export-led growth.
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