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What Will It Take for Jordan to Grow?

 
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2022-03-cid-wp-411-what-will-it-take-for-Jordan-to-grow-v2.pdf (9.908Mb)
Author
O'Brien, TimothyHARVARD
Bui, Ngoc Thao NguyenHARVARD
Frasheri, ErmalHARVARD
Garcia, FernandoHARVARD
Protzer, EricHARVARD
Villasmil, RicardoHARVARD
Hausmann, RicardoHARVARD
Published Version
https://www.hks.harvard.edu/centers/cid/publications/faculty-working-papers/what-will-it-take-for-jordan-to-grow
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Citation
O’Brien, Tim, Thảo-Nguyên Bùi, Ermal Frasheri, Fernando Garcia, Farah Hani, Eric Protzer, Ricardo Villasmil, and Ricardo Hausmann. "What Will It Take for Jordan to Grow?" CID Faculty Working Paper Series 2022.411, Harvard University, Cambridge, MA, March 2022.
Abstract
This report aims to answer the critical but difficult question: "What will it take for Jordan to grow?" Though Jordan has numerous active growth and reform strategies in place, they do not clearly answer this fundamental question. The Jordanian economy has experienced more than a decade of slow growth. Per capita income today is lower than it was prior to the Global Financial Crisis as Jordan has experienced a refugee-driven population increase. Jordan’s comparative advantages have narrowed over time as external shocks and responses to these shocks have changed the productive structure of Jordan’s economy. This was a problem well before the country faced the COVID-19 pandemic. The Jordanian economy has lost productivity, market access, and, critically, the ability to afford high levels of imports as a share of GDP. Significant efforts toward fiscal consolidation have further constrained aggregate demand, which has slowed non-tradable activity and the ability of the economy to create jobs. Labor market outcomes have worsened over time and are especially bad for women and youth. Looking ahead, this report identifies clear and significant opportunities for Jordan to strengthen new engines of export growth that would enable better overall job creation and resilience, even amidst the continued unpredictability of the pandemic. This report argues that there is need for a paradigm shift in Jordan’s growth strategy to focus more direct attention and resources on activating “agents of change” to accelerate the emergence of key growth opportunities, and that there are novel roles that donor countries can play in support of this.
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This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#OAP
Citable link to this page
https://nrs.harvard.edu/URN-3:HUL.INSTREPOS:37371527

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