Escaping the governance trap : economic reform in the Northern Triangle /: economic reform in the Northern Triangle. (2022)

• Record Type: Book
• Further Information: Note: Neil Shenai.
• Authors: Shenai, Neil
• Contents: Chapter 1: Beyond the Governance Trap (4, 000 words). This chapter describes how the Northern Triangle countries are stuck in a sub-optimal political and economic equilibrium in which informality and organized crime thrive, sapping their economic potential. Much of the region's outbound migration can be explained by these 'governance trap' conditions. The COVID-19 crisis presents a new set of challenges and opportunities for each country, which underscores the importance of escaping this governance trap. Chapter 2: The real economy (5, 000 words). This chapter explains the major economic sectors of the Northern Triangle economies, why growth has been insufficient to catalyzing economic transformation, and the structural impediments to faster growth. It highlights areas of structural reform in each country, linking structural reform to faster growth, which would have far-reaching positive spillovers to other sectors in the economy. Chapter 3: Fiscal policy (5, 000 words). This chapter examines the fiscal strengths and vulnerabilities of each country considering COVID-19 and its aftermath. It argues that tax revenue and mobilization is too low to meet the development needs for each country and thus all three countries face an urgent need to raise revenues while increasing economic formalization. This chapter looks at the debt and deficit trajectories of each country and studies the similarities and differences in the post-COVID debt stocks. Chapter 4: Monetary and exchange rate policy (4, 000 words). This chapter studies how monetary and exchange rate policy responded to the COVID-19 shock. It highlights the monetary and exchange rate policy space of each country, including early evidence on Guatemala's experiment with unconventional monetary policy. It also notes the policy limitations and benefits of dollarization in El Salvador and potential strains on this monetary arrangement. Chapter 5: Financial sector (6, 000 words). This chapter presents a reform agenda to enhance financial deterrence and financial stability, which can help each country escape their governance traps via greater financial inclusion and transparency. It notes that the COVID-19 crisis will likely increase risks to financial stability via higher non-performing loans and tighter financial conditions. All three countries face an urgent need to continue enhancing financial transparency to preserve financial access. Chapter 6: Conclusion (5, 000 words). As with my original proposal, this concluding chapter describes how the international community can collaborate to help the Northern Triangle economies catalyze the economic reforms described in the previous chapters. ​.
• Publisher Details: Basingstoke : Palgrave Pivot
• Publication Date: 2022
• Extent: 1 online resource, illustrations (black and white)
• Subjects: 338.9728; COVID-19 Pandemic, 2020- -- Economic aspects -- El Salvador; COVID-19 Pandemic, 2020- -- Economic aspects -- Guatemala; COVID-19 Pandemic, 2020- -- Economic aspects -- Honduras; El Salvador -- Economic policy; Guatemala -- Economic policy; Honduras -- Economic policy; El Salvador -- Foreign economic relations; Guatemala -- Foreign economic relations; Honduras -- Foreign economic relations
• Languages: English
• ISBNs: 9783030990237
• Related ISBNs: 9783030990220
• Notes: Note: Description based on CIP data; resource not viewed.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.