Malawi - Country Economic Memorandum : Seizing Opportunities for Growth through Regional Integration and Trade - Summary of Main Finding and Recommendations

World Bank

Malawi - Country Economic Memorandum : Seizing Opportunities for Growth through Regional Integration and Trade - Summary of Main Finding and Recommendations

2010

World Bank

Malawi needs to focus on exports to maintain and broaden its current inspiring levels of economic growth. The focus of future policy should therefore be on reforms that improve competitiveness in global and regional markets. This does not require a fundamental shift in direction, but instead a rebalancing of policy and expenditures to support an outward-oriented development framework. Until the recent global financial crisis, domestic and regional trends were promising for Malawi: rapid economic growth, strong donor support, increases in foreign direct investment, real potential to upgrade regional infrastructure, and the gradual dismantling of barriers within the region through the Common Market for Eastern and Southern Africa (COMESA) and Southern Africa Development Community (SADC) free trade areas. Despite recent global developments, this report makes the case that, for a small landlocked economy like Malawi, integration into a dynamic and more open Southern Africa region will remain a key to building prosperity and improving livelihoods.

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AGROVOC Keywords

agricultural credit agricultural sector agriculture commodities consumers debt devaluation development strategy diversification domestic markets economic growth economic resources elasticities exchange rate expenditure exports families farmer farmers financial institutions fixed capital food prices food shortages free trade gender government intervention gross domestic product growth rate households human capital industrialization information systems insurance interest rates international trade labour force land use market access means of transport monopoly outreach private investment productivity public finance public investment railways refugees remittances risk management roads smallholders social development supply chains telecommunications trade facilitation trade liberalization traffic transport transport infrastructure transportation union value added vehicles wages world trade organization wto

Bibliographic information

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World Bank

Other Subjects

Per capita income; Export sector; Road infrastructure; Endowments; Borrowing; Donor support; Financial sector assessment; Export markets; Foreign direct investment; Common market; Export base; Regional transit; Exchange rates; Productivity growth; Trade balance; Exchange rate regime; Transports; Economic volatility; Commodity price; Life expectancy; Smallholder agriculture; Road quality; Financial sector; Interest rate; Fleets; Macroeconomic policy; Rapid economic growth; Dollar value; Regulatory environment; Regional integration; Regulatory framework; Food price; Price elasticity of supply; Current account; Fuel; Road; Current account balance; Market risk; Capital accumulation; Good transport; Financial reform; Price elasticity; Price elasticity of demand; Binding constraints; Transport strategy; Average daily traffic; Export crops; Skills shortages; Multiplier effect; Value of output; Travel time; Investment climate; Future growth; Commodity; Regulatory regimes; Traffic volume; Price instability; Manufacturing industry; Government expenditures; Foreign currency; Aggregate demand; Financial services; Binding constraint; Price incentives; Trade deficit; Multiplier effects; Skilled workers; Incomes; Transportation costs; Bottlenecks; Growth rates; Price stability; Routes; Peak demand; Development agency; Reduction in travel; Macroeconomic management; Highway; Fiscal policy; Smallholder income; Agricultural output; Operational efficiency; Auction; Transport costs; External shocks; Power parity; Commercial farmer; Open economy; Commodity prices; Public investments; Competitiveness; Global markets; Public policy; Private savings; Monopoly rents; Cost of finance; Financial resources; Credit institutions; Domestic prices; Domestic price; Price controls; Exchange markets; Cost of transport; Purchasing power; Drivers; Financial crisis; Domestic transport; Preferential access; Total revenue; Financial costs; Road network; Bond; Input price; International markets; International competition; Remote areas; Competitive advantage; Transit; True; Smallholder; Infrastructure investments; Power outages; Credit history; Currency; Gdp; Remittance; Domestic market; Regional trade; Civil war; Development bank; Reserve bank; Fiscal deficits; Devaluations; Foreign exchange; Road charges; Rail; Financial sector developments; Connectivity; Overvaluation; Harmonization; Large-scale investment; Growth opportunities; International transport; Access to international markets; Export growth; Gdp per capita; Freight; Information about credit; Auction price; Economic crisis; Fiscal discipline; World development indicators; Road conditions; Gross fixed capital formation; Long-term investment; Travel times; Agricultural commodity exchange; Tax; Development assistance; Capital account; World trade

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http://hdl.handle.net/10986/2954http://creativecommons.org/licenses/by/3.0/World BankCreative Commons Attribution CC BY 3.0

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Malawi - Country Economic Memorandum : Seizing Opportunities for Growth through Regional Integration and Trade - Summary of Main Finding and Recommendations

2010

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