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Growth Diagnostic Framework
The technical assistance project will broadly follow the Growth Diagnostic Framework for diagnosing growth and identifying binding constraints in selected DMCs. The framework pioneered by Harvard professors Ricardo Hausmann, Dani Rodrik and Andrés Velasco (2005), represents a key element in the efforts to search for new approaches to growth strategy. Their framework—a strategy for discerning policy priorities and their desired sequence—is based on three considerations. First, while development is a broad concept entailing the raising of human capabilities in general, they believe increasing economic growth rates is the central challenge that developing nations faces. Second, trying to come up with an identical growth strategy for all countries, regardless of their circumstances, is not likely to prove productive. Third, it is not helpful to provide governments with a long, unprioritized list of reforms, which may not be targeted at the most binding constraints on economic growth and development. The framework has been pilot-tested by the World Bank in a number of countries to obtain analytical insights for formulating its country assistance strategies. The framework is also being tested by the Inter-American Development Bank for undertaking similar diagnostics in its member countries. Insights obtained and lessons learned by other development agencies and policy researchers from growth diagnostic studies will be closely scrutinized and incorporated. Related Documents
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