Case Study of Liberian Economic Growth: Pertinent Lessons for Developing Countries
AbstractLiberia has been the victim of 14 years of civil war due to which GDP experienced a downfall by over 90% making the economic growth process halted. This paper traces the extent of Liberia’s collapse, and examines the patterns of post-conflict recovery as a model which can be followed by other conflict confronting developing countries. Paper explores the challenges faced by Liberia in strengthening rapid, inclusive, and sustained economic growth and how these challenges were converted into opportunities through institutional process. It examines the policy framework and institutional reforms which set the pace for sustainable economic growth in Liberia. Because of these steps, the economic growth, which was very low before 1999, showed positive improvement. In 2003 there was 32% increase in economic growth, but that growth has now been pushed up by at least 4.8% further. Overall this paper presents an excellent study to understand the challenges of economic growth and mechanism for its revival in poor and developing countries.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 48462.
Date of creation: 16 Mar 2009
Date of revision:
Economic; Growth; Policy; Development; Infrastructure; Production; Natural; Resources.;
Other versions of this item:
- Gul, Ejaz, 2009. "Culture and Economic Growth of Cities; Evidence from Liberia," MPRA Paper 48541, University Library of Munich, Germany.
- Gul, Ejaz, 2010. "Economic Suitability Mapping – a New Trend in Establishing Economic Suitability of Project Site," MPRA Paper 48460, University Library of Munich, Germany.
- Gul, Ejaz, 2013. "Economic Philosophy of Khewa Gul, an Unknown Tribal Economist of 18th Century," MPRA Paper 48374, University Library of Munich, Germany.
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- O44 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
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- Joel M. Guttman, 2003. "Repeated interaction and the evolution of preferences for reciprocity," Economic Journal, Royal Economic Society, vol. 113(489), pages 631-656, 07.
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