Race to the next income frontier : how Senegal and other low-income countries can reach the finish line / editors : Ali Mansoor, Salifou Issoufou, and Daouda Sembene.

"Ministry of Economy, Finance, and Planning, Republic of Senegal."

Includes bibliographies and index.

1. Overview / Salifou Issoufou, Ali Mansoor -- Part I. Setting the stage -- 2. Can Plan Sénégal Émergent growth rates be achieved--and if so, how? / Ali Mansoor, Salifou Issoufou -- 3. A review of Senegal's industrial framework / Mor Talla Kane -- 4. Macro-structural reforms and emergence: lessons for Senegal / Alexei Kireyev -- Part II. Establishing a sound, balance, and efficient fiscal framework -- 6. Reforms to mobilize revenue in Senegal: lessons from six emerging markets / Patrick Petit, João Tovar Jalles -- 7. Composition and rationalization of public consumption for emergence / Serigne Moustapha Sène -- 8. On the quest for higher growth: the role of public expenditure in Senegal / João Tovar Jalles, Carlos Mulas-Granados -- 9. Making public investment more effective: lessons for Senegal / Salifou Issoufou, Mouhamadou Bamba Diop, Rajesh Anandsing Acharuz -- 10. The sustainability of Senegal's public debt / Birahim Bouna Niang.

Part III. Promoting an inclusive stable, and deeper financial sector -- 11. Key financial stability reforms as a path to emerging market economy status / Patrick A. Imam -- 12. Financial inclusion in Senegal: a catalyst for rmergence / Bamba Ka -- Part IV. Structural reforms to promote private investment, including foreign direct investment -- 13. Structural reforms in countries that have achieved emerging market economy status: a comparative study -- Aliou Faye, Bertrand Belle, Nyasha Weinberg -- 14. Governance, institutions, and emergence / Daouda Seembene -- 15. Relieving constraints on the business environment and supporting foreign direct investment / Mamadou Lamine Ba, Tom O'Bryan -- 16. Improving the contribution of the informal economy to GDP growth / Ahmadou Aly Mbaye, Nancy Benjamin -- 17. Policies, prices, and poverty: the sugar, vegetable oil, and flour industries in Senegal / Ahmadou Aly Mbaye, Stephen S. Golub, Philip English -- 18. Social protection and poverty reduction in Senegal / Oumar Bassirou Diop.

Economic transformation and diversification require solutions that take account of the political economy of reform. This book explores the process of economic transformation, using Senegal as an example. Sound macroeconomic and fiscal policies are prerequisites for achieving this kind of transformation, but these policies need to include the appropriate industrial policies and good economic governance, which provide incentives to help small- and medium-sized enterprises emerge from the informal sector and for foreign direct investment to use the country as a platform for globally competitive production. In many low-income countries extensive rent seeking and patronage have generated stability at the expense of inclusive growth and held back development. Although policymakers know what is needed to address these problems and achieve economic transformation and diversification, how to do it remains a challenge. This book shows how the political economy of reform may be navigated to achieve transformation. For example, the use of special economic zones may solve the problem if good global governance is emphasized, along with linking the zones to the global economy.

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