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Structural Weakness in Nicaragua : Hindrances to Economic Growth and Poverty Reduction

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  • Ruth Rios-Morales

Abstract

Despite generous debt reduction under the HIPC initiative, Nicaragua is not growing at the rate required to alleviate poverty. This paper outlines Nicaragua’s vulnerability to external changes and its inability to compete in the global market. Nicaragua suffers from severe structural problems; it has a very poorly diversified industrial structure, and its trading performance is correspondingly weak, relying on basic agricultural exports that have suffered stagnant or declining prices on international markets. Nicaragua is a clear example of an HIPC country that has achieved the criteria to enter into the HIPC initiative but is struggling to maintain sustainable economic development while trying to achieve poverty reduction.

Suggested Citation

  • Ruth Rios-Morales, 2006. "Structural Weakness in Nicaragua : Hindrances to Economic Growth and Poverty Reduction," The Institute for International Integration Studies Discussion Paper Series iiisdp169, IIIS.
  • Handle: RePEc:iis:dispap:iiisdp169
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    References listed on IDEAS

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    1. Dollar, David & Kraay, Aart, 2002. "Growth Is Good for the Poor," Journal of Economic Growth, Springer, vol. 7(3), pages 195-225, September.
    2. Kathrin Berensmann, 2004. "New ways of achieving debt sustainability beyond the enhanced HIPC Initiative," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 39(6), pages 321-330, November.
    3. Michael J. Pisani, 2003. "The Negative Impact of Structural Adjustment on Sectoral Earnings in Nicaragua," Review of Radical Political Economics, Union for Radical Political Economics, vol. 35(2), pages 107-125, June.
    4. Bloom, David E. & Canning, David & Sevilla, Jaypee, 2004. "The Effect of Health on Economic Growth: A Production Function Approach," World Development, Elsevier, vol. 32(1), pages 1-13, January.
    5. Adam, Christopher S. & Bevan, David L., 2005. "Fiscal deficits and growth in developing countries," Journal of Public Economics, Elsevier, vol. 89(4), pages 571-597, April.
    6. Bruno, Michael & Ravallion, Martin & Squire, Lyn, 1996. "Equity and growth in developing countries : old and new perspectives on the policy issues," Policy Research Working Paper Series 1563, The World Bank.
    7. KH Zhang, 2001. "Does Foreign Direct Investment Promote Economic Growth? Evidence From East Asia And Latin America," Contemporary Economic Policy, Western Economic Association International, vol. 19(2), pages 175-185, April.
    8. Kristin J. Forbes, 2000. "A Reassessment of the Relationship between Inequality and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 869-887, September.
    9. Esquivel, G. & Larraín F.B. & Sachs,J.D., 1998. "The External Debt Problem in Central America: Honduras, Nicaragua, and the HIPC Initiative," Papers 645, Harvard - Institute for International Development.
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