## Honduras's Growth Performance During 1970-1997

_IMF Policy Discussion Papers, January 1, 1999_

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## Bibliographic details
- Authors: V. Hugo Juan-Ramon
- Published: January 1, 1999
- Series: IMF Policy Discussion Papers
- DOI: https://doi.org/10.5089/9781451974874.003

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### Executive summary
- 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.

### Main findings
- Low labor and capital productivity exert a strong negative offset on growth.
- The low productivity of inputs is linked to:
  - deficient levels of human capital;
  - inadequate composition of investment.
- Other constraints to growth identified include inadequate physical and institutional infrastructures.

### Subject classification and keywords
- 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

### Policy implications and emphasis
- 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.

*Source: IMF Policy Discussion Papers — "Honduras's Growth Performance During 1970-1997" by V. Hugo Juan-Ramon, January 1, 1999.*

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_Source: https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/honduras-s-growth-performance-during-1970-1997-2886_