前沿市场经济体：潜力、表现与前景.pptxVIP

FrontierMarket

Economies

Promise,Performance,

andProspects

Contents

Acknowledgmentsv

AbouttheAuthorsvii

ExecutiveSummary1

Introduction3

Contributions4

Mainfindings7

Characteristicsoffrontiermarkets9

Shareofglobalpopulation10

Globaleconomicfootprint10

Financialintegrationandfinancialdevelopment11

Compositionandvolatilityofcapitalinflows11

Limitedfinancialmarketdevelopment16

Integrationwiththeglobalfinancialcycle17

Fiscalpositions,debt,andinstitutionalquality23

Fiscalpositionsanddebt23

Institutionalquality24

Macroeconomicanddevelopmentoutcomes25

Headlinemacroeconomicperformance25

Convergenceandpovertyreduction26

Physicalcapitalaccumulationandhumandevelopment27

Sectoralcompositionofoutputandemployment27

Featuresoffrontiermarketsuccess28

Featuresoffaster-growingfrontiermarkets28

Lessonsfromcasestudiesoffaster-growingfrontiermarkets29

Policyprioritiesforfrontiermarkets31

Advancingfinancialandtradeintegrationwhilemanagingexternalvulnerabilities31

Bolsteringmacroeconomicstability34

Catalyzingproductivitygrowththroughstructuralreforms36

Supportforfrontiermarketsfromtheinternationalcommunity39

References57

Boxes4.1Financialmarketclassificationsoffrontiermarketeconomies5

4.2Incidenceanddriversofsurgesandstopsincapitalinflows13

4.3Theglobalfinancialcycle:Assetpricesandcreditgrowth18

Annexes4.1Classificationofeconomies40

4.2Frontiermarketcasestudies44

4.3Dataandmethodologyforempiricalexercises54

iii

FiguresESOverview1

4.1Basiccharacteristicsoffrontiermarkets9

4.2Frontiermarketsintheglobaleconomy10

4.3Financialandtradeopenness11

4.4Capitalinflows12

B4.2.1Shareofcountriesexperi