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Central America's Macroeconomic Environment and the Role of the Investment Climate under Free Trade

Author

Listed:
  • Gould, David
  • Loening, Josef L.

Abstract

Central America's economic performance in recent years has benefited from improved macroeconomic management, a favorable external environment, as well as rising investor confidence since the region has pursued greater access to global markets, particularly with the signing of DR-CAFTA in 2004. Nonetheless, while important reforms have been made, at the sectoral level, much remains to be done. The context of a less favorable global environment underlines the need to improve competiveness and enhance productivity. An improved investment climate would contribute to both and help to unleash the full potential of DR-CAFTA.

Suggested Citation

  • Gould, David & Loening, Josef L., 2008. "Central America's Macroeconomic Environment and the Role of the Investment Climate under Free Trade," MPRA Paper 25896, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:25896
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    File URL: https://mpra.ub.uni-muenchen.de/25896/1/MPRA_paper_25896.pdf
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    References listed on IDEAS

    as
    1. Montobbio, Fabio & Rampa, Francesco, 2005. "The impact of technology and structural change on export performance in nine developing countries," World Development, Elsevier, vol. 33(4), pages 527-547, April.
    2. Dollar, David & Hallward-Driemeier, Mary & Mengistae, Taye, 2005. "Investment Climate and Firm Performance in Developing Economies," Economic Development and Cultural Change, University of Chicago Press, vol. 54(1), pages 1-31, October.
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    4. Shaun K. Roache, 2008. "Central America’s Regional Trends and U.S. Cycles," IMF Working Papers 08/50, International Monetary Fund.
    5. Norbert Fiess, 2007. "Business Cycle Synchronization and Regional Integration: A Case Study for Central America," World Bank Economic Review, World Bank Group, vol. 21(1), pages 49-72.
    6. Kose, M. Ayhan & Rebucci, Alessandro, 2005. "How might CAFTA change macroeconomic fluctuations in Central America?: Lessons from NAFTA," Journal of Asian Economics, Elsevier, vol. 16(1), pages 77-104, February.
    7. World Bank, 2007. "Economic Performance in Latin America and the Caribbean : A Microeconomic Perspective," World Bank Other Operational Studies 7857, The World Bank.
    8. Kazuhiro YUKI, 2007. "Determinants Of Sectoral Composition In A Small Open Economy: Theoretical And Quantitative Investigations Of The Philippines," The Developing Economies, Institute of Developing Economies, vol. 45(4), pages 391-436.
    9. Alfred Schipke & Dominique Desruelle, 2007. "Economic Growth and Integration in Central America," IMF Occasional Papers 257, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Macroeconomic performance; investment climate; Guatemala; El Salvador; Nicaragua; Hounduras; Costa Rica; Panama;

    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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