{
  "title": "Panama’s Growth Prospects: Determinants and Sectoral Perspectives",
  "publication": "IMF Working Papers, July 7, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2017/07/07/panamas-growth-prospects-determinants-and-sectoral-perspectives-45030",
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  "summary": "This paper estimates medium-term potential growth for a country undergoing significant structural and secular changes. Our forward-looking framework, incorporating three analytical approaches for examining economic prospects, constitutes an important complement to typical backward-looking methods th",
  "sections": [
    {
      "heading": "Summary and framework",
      "content": "- The paper estimates medium-term potential growth for Panama amid significant structural and secular changes.\n- A forward-looking framework is used, incorporating three analytical approaches to examine economic prospects; this complements backward-looking methods that filter or extrapolate historical data.\n- The opening of the expanded Panama Canal in 2016 is highlighted as a key structural change affecting the Panamanian economy."
    },
    {
      "heading": "Major findings on growth determinants",
      "content": "- Panama is well-placed to maintain its business model.\n- Improvements in education and governance are important to support growth.\n- The current pipeline of investment projects can help sustain investment-led growth, although at a more moderate pace."
    },
    {
      "heading": "Sectoral perspectives and opportunities",
      "content": "- Logistics: Further development of the logistics sector holds promise to build on Panama’s comparative advantage.\n- Tourism: Further development of the tourism sector is identified as a promising area to reinforce comparative advantage.\n- Transportation and infrastructure: The expanded Panama Canal (opened in 2016) and ongoing investment projects are central to the country’s evolving infrastructure base."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Strengthen education to support medium-term potential growth.\n- Improve governance to sustain and enhance the existing business model.\n- Prioritize the execution and management of the pipeline of investment projects to maintain investment-led growth, recognizing that growth may proceed at a more moderate pace.\n- Support targeted development of logistics and tourism to capitalize on comparative advantages."
    },
    {
      "heading": "Methodology and scope",
      "content": "- Uses a forward-looking framework with three analytical approaches (not specified in detail on this page) to estimate potential growth.\n- Emphasizes complementarity with backward-looking filtering and extrapolation methods.\n\nSource: IMF Working Paper by Kimberly Beaton and Metodij Hadzi-Vaskov, July 7, 2017.\n\n---\n\n Content in this bundle\n\n- Panama’s Growth Prospects: Determinants and Sectoral Perspectives, WP/17/150, July 2017\n  - Panama’s Growth Prospects: Determinants and Sectoral Perspectives, WP/17/150, July 2017 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Panama’s Growth Prospects: Determinants and Sectoral Perspectives, WP/17/150, July 2017 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2017/07/07/panamas-growth-prospects-determinants-and-sectoral-perspectives-45030"
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    "Authors: Kimberly Beaton, Metodij Hadzi-Vaskov",
    "Published: July 7, 2017",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484307861.001",
    "The paper estimates medium-term potential growth for Panama amid significant structural and secular changes.",
    "A forward-looking framework is used, incorporating three analytical approaches to examine economic prospects; this complements backward-looking methods that filter or extrapolate historical data.",
    "The opening of the expanded Panama Canal in 2016 is highlighted as a key structural change affecting the Panamanian economy.",
    "Panama is well-placed to maintain its business model.",
    "Improvements in education and governance are important to support growth.",
    "The current pipeline of investment projects can help sustain investment-led growth, although at a more moderate pace.",
    "Logistics: Further development of the logistics sector holds promise to build on Panama’s comparative advantage.",
    "Tourism: Further development of the tourism sector is identified as a promising area to reinforce comparative advantage.",
    "Transportation and infrastructure: The expanded Panama Canal (opened in 2016) and ongoing investment projects are central to the country’s evolving infrastructure base.",
    "Strengthen education to support medium-term potential growth.",
    "Improve governance to sustain and enhance the existing business model.",
    "Prioritize the execution and management of the pipeline of investment projects to maintain investment-led growth, recognizing that growth may proceed at a more moderate pace.",
    "Support targeted development of logistics and tourism to capitalize on comparative advantages.",
    "Uses a forward-looking framework with three analytical approaches (not specified in detail on this page) to estimate potential growth.",
    "Emphasizes complementarity with backward-looking filtering and extrapolation methods.",
    "**Panama’s Growth Prospects: Determinants and Sectoral Perspectives, WP/17/150, July 2017**"
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