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Diagnóstico do Crescimento da Economia Cabo-verdiana
[Growth Diagnostic of Cape Verdean Economy]

Author

Listed:
  • BRITO, JOÃO ANTONIO

Abstract

This article uses the HRV model proposed by Hausmann, Rodrik and Velasco (2005) to conduct a growth diagnosis of Cape Verde's economy. The real per capita GDP in Cape Verde rose from US$ 806 in 1970 to US$ 2.830 in 2011, representing an average annual rate of growth of 3.3%. The service sector is the main driver of the economy in Cape Verde. The Cape Verdean economy is heavily dependent on foreign capital and, despite considerable economic growth, the unemployment rate remains high and public debt is high. The main factors identified as a barrier to investment/growth in Cape Verde were: poor financial intermediation, poor infrastructure, high costs on flights across islands and strong deviation between market needs and the areas of human capital formation. Government policies should be aimed at overcoming these constraints.

Suggested Citation

  • Brito, João Antonio, 2014. "Diagnóstico do Crescimento da Economia Cabo-verdiana [Growth Diagnostic of Cape Verdean Economy]," MPRA Paper 63407, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:63407
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    References listed on IDEAS

    as
    1. Ricardo Hausmann & Jason Hwang & Dani Rodrik, 2007. "What you export matters," Journal of Economic Growth, Springer, vol. 12(1), pages 1-25, March.
    2. International Finance Corporation & World Bank, 2012. "Doing Business 2012 : Doing Business in a More Transparent World," World Bank Publications - Books, The World Bank Group, number 5907.
    3. Ricardo Hausmann & Bailey Klinger & Rodrigo Wagner, 2008. "Doing Growth Diagnostics in Practice: A 'Mindbook'," Growth Lab Working Papers 19, Harvard's Growth Lab.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Diagnosis of Growth; Model HRV; Small African countries; Cape Verde.;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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