{
  "title": "Towards Achieving Sustained Economic Growth in Small Developing States: A Primer on Belize",
  "publication": "IMF Working Papers, March 6, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2026/03/06/towards-achieving-sustained-economic-growth-in-small-developing-states-a-primer-on-belize-574518",
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  "summary": "The small developing states (SDS) have unique economic characteristics and face specific constraints that shape their economic performance. We study a set of key challenges facing SDS using the case of Belize.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Study focus: key challenges facing small developing states (SDS) using the case of Belize.\n- Empirical analysis centers on three pillars:\n  - (i) improving access to finance;\n  - (ii) exploring drivers of labor force participation with a view to increasing the labor force contribution to growth;\n  - (iii) assessing the tourism sector’s capacity constraints.\n- Core conclusion: constraints across finance, labor participation, and tourism capacity jointly shape Belize’s growth prospects."
    },
    {
      "heading": "Access to Finance — Findings",
      "content": "- Both demand and supply factors constrain private sector credit.\n- Primary channels identified:\n  - level of lending rates;\n  - complex collateral processes;\n  - legacy of high NPLs;\n  - extent of regulatory capital above the regulatory minimum."
    },
    {
      "heading": "Labor Force Participation — Findings",
      "content": "- Analysis of heterogeneity in labor force participation gaps between men and women emphasizes:\n  - tourism’s share in the services sector;\n  - youth’s educational attainment;\n  - disparity in labor market outcomes;\n  - availability of childcare.\n- Objective: increase labor force contribution to growth by addressing these drivers."
    },
    {
      "heading": "Tourism Sector Capacity — Findings",
      "content": "- Critical determinants of tourism sector prospects:\n  - hotel capacity;\n  - flight availability;\n  - cost competitiveness.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2026/03/06/towards-achieving-sustained-economic-growth-in-small-developing-states-a-primer-on-belize-574518"
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    "Authors: Ziad W Amer, Jiajia Gu, Metodij Hadzi-Vaskov, Bunyada (Mos) Laoprapassorn, Shane R Lowe",
    "Published: March 6, 2026",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798229038492.001",
    "Study focus: key challenges facing small developing states (SDS) using the case of Belize.",
    "Empirical analysis centers on three pillars:",
    "Core conclusion: constraints across finance, labor participation, and tourism capacity jointly shape Belize’s growth prospects.",
    "Both demand and supply factors constrain private sector credit.",
    "Primary channels identified:",
    "Analysis of heterogeneity in labor force participation gaps between men and women emphasizes:",
    "Objective: increase labor force contribution to growth by addressing these drivers.",
    "Critical determinants of tourism sector prospects:",
    "**Working Paper**"
  ],
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