{
  "title": "Honduras's Growth Performance During 1970-1997",
  "publication": "IMF Policy Discussion Papers, January 1, 1999",
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  "summary": "For more than three decades, Honduras’s average annual growth in real per capita GDP has been almost zero and highly uneven, even though its total investment-to-GDP ratio has been relatively large.",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- For more than three decades, Honduras’s average annual growth in real per capita GDP has been almost zero and highly uneven.\n- This sluggish growth occurred despite a relatively large total investment-to-GDP ratio.\n- The paper argues that policy and efficiency variables seem to have had less of an influence on growth in Honduras than they had on other countries."
    },
    {
      "heading": "Main findings",
      "content": "- Low labor and capital productivity exert a strong negative offset on growth.\n- The low productivity of inputs is linked to:\n  - deficient levels of human capital;\n  - inadequate composition of investment.\n- Other constraints to growth identified include inadequate physical and institutional infrastructures."
    },
    {
      "heading": "Subject classification and keywords",
      "content": "- Subject: Education; Gross capital formation; Gross fixed investment; National accounts; Population and demographics; Private investment\n- Keywords: case in Honduras; experience of Honduras; GDP; Gross capital formation; Gross fixed investment; growth; growth performance; Honduras; Honduras's percentage; Honduras's policy; human capital; input productivity; investment composition; low level; marginal productivity; PDP; policy-related variable; Private investment; productivity of labor; productivity of the labor force; rate of return"
    },
    {
      "heading": "Policy implications and emphasis",
      "content": "- Addressing deficient human capital is central to raising labor productivity.\n- Improving the composition of investment is necessary to raise capital productivity.\n- Strengthening physical and institutional infrastructures is an additional constraint that must be tackled to sustain growth.\n\nSource: IMF Policy Discussion Papers — \"Honduras's Growth Performance During 1970-1997\" by V. Hugo Juan-Ramon, January 1, 1999.\n\n---\n\n Content in this bundle\n\n- Honduras's Growth Performance During 1970-97 - PDP/99/1\n  - Honduras's Growth Performance During 1970-97 - PDP/99/1 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Honduras's Growth Performance During 1970-97 - PDP/99/1 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/honduras-s-growth-performance-during-1970-1997-2886"
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    "Authors: V. Hugo Juan-Ramon",
    "Published: January 1, 1999",
    "Series: IMF Policy Discussion Papers",
    "DOI: https://doi.org/10.5089/9781451974874.003",
    "For more than three decades, Honduras’s average annual growth in real per capita GDP has been almost zero and highly uneven.",
    "This sluggish growth occurred despite a relatively large total investment-to-GDP ratio.",
    "The paper argues that policy and efficiency variables seem to have had less of an influence on growth in Honduras than they had on other countries.",
    "Low labor and capital productivity exert a strong negative offset on growth.",
    "The low productivity of inputs is linked to:",
    "Other constraints to growth identified include inadequate physical and institutional infrastructures.",
    "Subject: Education; Gross capital formation; Gross fixed investment; National accounts; Population and demographics; Private investment",
    "Keywords: case in Honduras; experience of Honduras; GDP; Gross capital formation; Gross fixed investment; growth; growth performance; Honduras; Honduras's percentage; Honduras's policy; human capital; input productivity; investment composition; low level; marginal productivity; PDP; policy-related variable; Private investment; productivity of labor; productivity of the labor force; rate of return",
    "Addressing deficient human capital is central to raising labor productivity.",
    "Improving the composition of investment is necessary to raise capital productivity.",
    "Strengthening physical and institutional infrastructures is an additional constraint that must be tackled to sustain growth.",
    "**Honduras's Growth Performance During 1970-97 - PDP/99/1**"
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