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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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

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Editorial

World Bank

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

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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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