Promoting structural change and institutional development

November 2023

Low-income countries (LICs) have been facing an increasingly challenging external environment: slowing global growth under the ongoing COVID-19 crisis; sharp declines with high volatility in commodity prices, affecting many commodity producers; and tighter external funding conditions. These developments have led to worries about a prolonged growth slowdown, pushing structural reforms to the top of the policy agenda in LICs and making the study of structural transformation and diversification more important than ever. In addition, making successful progress on many reforms requires to strengthen governance and tackle any issues of corruption. What follows is a brief description of how the topic and the work on promoting structural change and institutional development has evolved over the four phases of the FCDO-IMF partnership on research on the macroeconomics of LICs.

For a list of products that have been produced under each of the four phases of the FCDO-IMF partnership, see the box on outputs on the left-hand side.