Publication:
Cote d’Ivoire : From Success to Failure - A Story of Growth, Specialization, and the Terms of Trade

dc.contributor.author Bogetic, Zeljko
dc.contributor.author Noer, John
dc.contributor.author Espina, Carlos
dc.date.accessioned 2012-06-11T15:36:45Z
dc.date.available 2012-06-11T15:36:45Z
dc.date.issued 2007-11
dc.description.abstract Real GDP per capita and capital stock in Cote d'Ivoire grew strongly from 1960 to 1979, but have declined ever since, for twenty-five years. As a result, the country has traveled a full circle from economic success to failure in little more than a generation. What are the long-term factors behind this dismal growth story? Are the Ivorian development problems mostly of recent origin? Or there are more fundamental, economic factors that explain its long term performance? Four principal conclusions are as follows: First, Cote d'Ivoire's long-term growth performance is not fully explained by temporary factors (e.g., CFA overvaluation or recent conflict). Longer term factors such as capital accumulation, productivity, and terms of trade are key to understanding the country's performance as is the policy of specialization in a single commodity--cocoa. Second, the long-term decline in per capita output started well before the currency overvaluation, and at a time of political stability, and is related to a major, secular deterioration in terms of trade that started after 1976. Third, total factor productivity estimates indicate that TFP per capita also grew until it hit a plateau in 1976-78, and then shrank thereafter, despite gains in human capital accumulation. Fourth, Cote d'Ivoire has pursued a policy of specialization in cocoa beans but this bet on a single commodity has ultimately failed. The strategy that brought prosperity during the 1970s resulted in a growth failure when cocoa prices began declining since 1976. en
dc.identifier http://documents.worldbank.org/curated/en/2007/11/8789097/cote-divoire-success-failure-story-growth-specialization-terms-trade
dc.identifier.uri http://hdl.handle.net/10986/7655
dc.language English
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Policy Research Working Paper; No. 4414
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ACCOUNTING
dc.subject AGRICULTURE
dc.subject ARREARS
dc.subject AVERAGE ANNUAL GROWTH
dc.subject AVERAGE GROWTH
dc.subject BASE YEAR
dc.subject BENCHMARK
dc.subject BENCHMARKS
dc.subject CALCULATIONS
dc.subject CAPITAL ACCUMULATION
dc.subject CAPITAL COST
dc.subject CAPITAL FORMATION
dc.subject CAPITAL GOODS
dc.subject CAPITAL GROWTH
dc.subject CAPITAL INVESTMENT
dc.subject CAPITAL INVESTMENTS
dc.subject CAPITAL STOCK
dc.subject CAPITAL STOCK GROWTH
dc.subject CAPITAL STOCKS
dc.subject CAPITAL TIMES
dc.subject CENTRAL BANK
dc.subject CIVIL WAR
dc.subject COMMODITIES
dc.subject COMMODITY
dc.subject COMMODITY EXCHANGES
dc.subject COMMODITY EXPORTS
dc.subject COMMODITY PRICE
dc.subject COMMODITY PRICES
dc.subject COMPETITIVENESS
dc.subject CONSTANT RETURNS
dc.subject CONSTANT RETURNS TO SCALE
dc.subject CONSUMER
dc.subject CONSUMER PRICE INDEX
dc.subject CONTRIBUTION
dc.subject CONTRIBUTIONS
dc.subject CURRENCY
dc.subject CURRENT ACCOUNT
dc.subject CURRENT ACCOUNT BALANCE
dc.subject DEMOGRAPHIC
dc.subject DEPRECIATION
dc.subject DEVALUATION
dc.subject DEVELOPING COUNTRIES
dc.subject DEVELOPMENT CENTER
dc.subject DEVELOPMENT POLICY
dc.subject DIVERSIFICATION
dc.subject DIVERSIFICATION STRATEGY
dc.subject ECONOMIC ACTIVITY
dc.subject ECONOMIC DEVELOPMENTS
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC HISTORY
dc.subject ECONOMIC MANAGEMENT
dc.subject ECONOMIC PRODUCTIVITY
dc.subject ECONOMIC SUCCESS
dc.subject ECONOMIC TRENDS
dc.subject EDUCATIONAL ATTAINMENT
dc.subject ELASTICITY
dc.subject ENROLLMENT
dc.subject EXCHANGE RATE
dc.subject EXCHANGE RATES
dc.subject EXPECTED VALUE
dc.subject EXPECTED VALUES
dc.subject EXPORTS
dc.subject FACTOR ACCUMULATION
dc.subject FACTORS OF PRODUCTION
dc.subject FARMERS
dc.subject FUNCTIONAL FORM
dc.subject FUNCTIONAL FORMS
dc.subject FUTURES
dc.subject GDP PER CAPITA
dc.subject GENDER
dc.subject GENDER EQUALITY
dc.subject GENERAL POPULATION
dc.subject GINI COEFFICIENT
dc.subject GLOBAL MARKET
dc.subject GNP
dc.subject GROSS DOMESTIC PRODUCT
dc.subject GROWTH PERFORMANCE
dc.subject GROWTH RATE
dc.subject GROWTH RATE OF OUTPUT
dc.subject GROWTH RATES
dc.subject HOUSEHOLDS
dc.subject HUMAN CAPITAL
dc.subject INCOME DISTRIBUTION
dc.subject INCOMES
dc.subject INFLATION
dc.subject INITIAL CAPITAL
dc.subject INSTITUTIONAL INFRASTRUCTURE
dc.subject INTERNATIONAL BANK
dc.subject INTERNATIONAL PRICES
dc.subject INVENTORY
dc.subject INVESTMENT EXPENSES
dc.subject LABOR FORCE
dc.subject LABOR FORCE GROWTH
dc.subject LABOR FORCE PARTICIPATION
dc.subject LAND USE
dc.subject LARGE COMPANIES
dc.subject LIFE EXPECTANCY
dc.subject LITERACY
dc.subject LOCAL CURRENCY
dc.subject MACROECONOMIC PERFORMANCE
dc.subject MARGINAL PRODUCT
dc.subject MARKET PERFORMANCE
dc.subject MARKET SHARE
dc.subject MARKETING
dc.subject MODEL OF GROWTH
dc.subject NATIONAL INCOME
dc.subject OVERVALUATION
dc.subject PER CAPITA INCOME
dc.subject PHYSICAL CAPITAL
dc.subject POLITICAL STABILITY
dc.subject POVERTY RATE
dc.subject POVERTY RATES
dc.subject PRICE DECLINES
dc.subject PRICE ELASTICITY
dc.subject PRICE LEVEL
dc.subject PRICE LEVELS
dc.subject PRIMARY EDUCATION
dc.subject PRODUCTION FUNCTION
dc.subject PRODUCTION INCREASES
dc.subject PRODUCTION INPUTS
dc.subject PRODUCTIVITY
dc.subject PROSPERITY
dc.subject PUBLIC EXPENDITURE
dc.subject PUBLIC EXPENDITURES
dc.subject RAPID POPULATION GROWTH
dc.subject RATE OF GROWTH
dc.subject RATE OF RETURN
dc.subject RATES OF GROWTH
dc.subject RE-INVESTMENT
dc.subject REAL EXCHANGE RATES
dc.subject REAL GDP
dc.subject REAL GROWTH RATES
dc.subject RECEIPTS
dc.subject REFUGEES
dc.subject REGIONAL TRADE
dc.subject REGRESSION ANALYSIS
dc.subject SHARE OF OUTPUT
dc.subject SHARE OF WORLD OUTPUT
dc.subject SOCIAL CONSEQUENCES
dc.subject SUB-SAHARAN AFRICA
dc.subject SUNK COSTS
dc.subject TECHNOLOGICAL PROGRESS
dc.subject TFP
dc.subject TOTAL FACTOR PRODUCTIVITY
dc.subject TOTAL FACTOR PRODUCTIVITY ANALYSIS
dc.subject TOTAL OUTPUT
dc.subject UNEMPLOYMENT
dc.subject UNION
dc.subject URBAN AREAS
dc.subject URBAN POPULATION
dc.subject URBANIZATION
dc.subject VALUE ADDED
dc.subject VALUE OF OUTPUT
dc.subject VOLATILITY
dc.subject WAGE
dc.subject WORK FORCE
dc.subject WORLD ECONOMY
dc.subject WORLD MARKET
dc.subject WORLD MARKETS
dc.title Cote d’Ivoire : From Success to Failure - A Story of Growth, Specialization, and the Terms of Trade en
dspace.entity.type Publication
okr.doctype Publications & Research :: Policy Research Working Paper
okr.doctype Publications & Research
okr.docurl http://documents.worldbank.org/curated/en/2007/11/8789097/cote-divoire-success-failure-story-growth-specialization-terms-trade
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Finance and Markets
okr.globalpractice Trade and Competitiveness
okr.identifier.doi 10.1596/1813-9450-4414
okr.identifier.externaldocumentum 000158349_20071128102713
okr.identifier.internaldocumentum 8789097
okr.identifier.report WPS4414
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/11/28/000158349_20071128102713/Rendered/PDF/wps4414.pdf en
okr.region.administrative Africa
okr.region.country Cote d'Ivoire
okr.topic Economic Theory and Research
okr.topic Finance and Financial Sector Development :: Access to Finance
okr.topic Private Sector Development :: Emerging Markets
okr.topic Macroeconomics and Economic Growth :: Economic Growth
okr.unit Development Research Group (DECRG)
okr.volume 1 of 1
relation.isSeriesOfPublication 26e071dc-b0bf-409c-b982-df2970295c87
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