Publication:
Belize Systematic Country Diagnostic

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2016-03-15T17:29:52Z
dc.date.available2016-03-15T17:29:52Z
dc.date.issued2016-01-29
dc.description.abstractBelize has a rich history that dates back thousands of years. The country was first inhabited by the Mayans with records of their presence dating from 1500 BC. The first recorded European settlement was established circa 1638 by the British who called the country the Colony of British Honduras. The official name of the territory was changed from British Honduras to Belize in June 1973, and full independence was granted on September 21, 1981. There were several obstacles in the path toward independence, as illustrated by Guatemala's long-standing claim to the entire territory. It was only in November 1980, after several frustrated negotiations with Guatemala that Belizean diplomacy managed to obtain international support that led to the United Nations passing of a resolution that demanded the independence of Belize, but it was only in 1992 that Guatemala formally recognized Belize’s independence. After independence, Belize successfully implemented a development strategy which emphasized economic diversification and private sector development at a time where the terms of trade were favorable to the country. As a small, open economy, that is also extremely vulnerable to climate change and natural disasters, Belize’s ability to promote faster poverty reduction and greater shared prosperity will depend on how well the country deals with its main sources of vulnerability. In addition to weaknesses in infrastructure and in the skills of the labor force, several studies have pinpointed crime and violence and problems in the financial sector as important deterrents to growth. The analysis in this report confirms the centrality of these two factors. The predicament in the financial sector is largely driven by the small economic size of the country and the lack of competition in the banking sector, a common feature in small state economies that limits the availability of credit to small and medium enterprises. Stability issues in the sector complicate matters as these impose non-negligible risks to the health of the financial sector. On the other hand, the rise in the inflow of migrants from neighboring Central American countries with a history of crime and violence has been raised as a potential cause for high crime rates in Belize, but there is not enough evidence to substantiate that claim at this point. Policy interventions that could help halt the rise in criminality rates include ramping up the quality of education, keeping children at school, promoting education equivalency programs and job training, besides more direct approaches such as investing in safe neighborhood programs.en
dc.identifierhttp://documents.worldbank.org/curated/en/2016/02/25875161/belize-systematic-country-diagnostic
dc.identifier.doi10.1596/23953
dc.identifier.urihttps://hdl.handle.net/10986/23953
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectLIVING STANDARDS
dc.subjectFORECASTS
dc.subjectMONETARY POLICY
dc.subjectRISKS
dc.subjectREGULATORY FRAMEWORK
dc.subjectUNEMPLOYMENT RATES
dc.subjectECONOMIC GROWTH
dc.subjectPROFIT MARGINS
dc.subjectPRODUCTION
dc.subjectPRICE INCREASES
dc.subjectADVERSE IMPACTS
dc.subjectINCOME
dc.subjectINTEREST
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectEXPECTATIONS
dc.subjectTRADE BARRIERS
dc.subjectINTEREST RATE
dc.subjectREAL GDP
dc.subjectPROPERTY RIGHTS
dc.subjectDISCOUNT RATE
dc.subjectGDP PER CAPITA
dc.subjectLIQUIDITY
dc.subjectEXPORTS
dc.subjectELASTICITY
dc.subjectPOLITICAL ECONOMY
dc.subjectFISCAL POLICY
dc.subjectWELFARE
dc.subjectOPTIMIZATION
dc.subjectINCENTIVES
dc.subjectMIDDLE INCOME COUNTRY
dc.subjectDISTRIBUTION
dc.subjectCAPACITY BUILDING
dc.subjectMACROECONOMIC CONDITIONS
dc.subjectVARIABLES
dc.subjectDAMAGES
dc.subjectINPUTS
dc.subjectDECISIONS
dc.subjectPAYMENTS
dc.subjectWEALTH
dc.subjectBANKRUPTCY
dc.subjectINFLATION
dc.subjectTRENDS
dc.subjectCENTRAL BANK
dc.subjectDEVELOPMENT
dc.subjectMACROECONOMIC STABILITY
dc.subjectFISCAL POLICIES
dc.subjectINFLUENCE
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectSAVINGS
dc.subjectPER CAPITA INCOME
dc.subjectCOSTS
dc.subjectAIR POLLUTION
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectEXPORT GROWTH
dc.subjectTELECOMMUNICATIONS
dc.subjectPRODUCTIVITY
dc.subjectWORKERS’ SKILLS
dc.subjectEXTERNALITIES
dc.subjectGROSS NATIONAL SAVINGS
dc.subjectFAILURES
dc.subjectCRITERIA
dc.subjectDEBT
dc.subjectMARKETS
dc.subjectWTO
dc.subjectINFLATION RATE
dc.subjectOPEN ECONOMY
dc.subjectDIRECT VALUE
dc.subjectECONOMIC SIZE
dc.subjectINCOME LEVELS
dc.subjectTRADE POLICY
dc.subjectREAL INTEREST RATE
dc.subjectECONOMIC CONSTRAINTS
dc.subjectDIVIDENDS
dc.subjectUTILITY
dc.subjectNATURAL RESOURCES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectTRADE POLICIES
dc.subjectTAXES
dc.subjectEQUILIBRIUM ANALYSIS
dc.subjectUNEMPLOYMENT
dc.subjectINCOME TAXES
dc.subjectCONSUMPTION
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectHUMAN CAPITAL
dc.subjectINDUSTRIAL ECONOMIES
dc.subjectVALUE ADDED
dc.subjectECONOMIC PERFORMANCE
dc.subjectCAPITAL
dc.subjectWAGES
dc.subjectUNEMPLOYMENT RATE
dc.subjectFINANCIAL CRISIS
dc.subjectVALUE
dc.subjectBENCHMARKING
dc.subjectCOMPETITIVENESS
dc.subjectCREDIT
dc.subjectDEVELOPMENT STRATEGY
dc.subjectCOMPARATIVE ADVANTAGES
dc.subjectDEMAND
dc.subjectNATIONAL INCOME
dc.subjectECONOMIC FLUCTUATIONS
dc.subjectECONOMY
dc.subjectAGRICULTURE
dc.subjectCONSUMERS
dc.subjectTARIFF BARRIERS
dc.subjectOPPORTUNITY COSTS
dc.subjectASSETS
dc.subjectBENCHMARK
dc.subjectINCOME EFFECT
dc.subjectECONOMIC SITUATION
dc.subjectNATURAL RATE OF UNEMPLOYMENT
dc.subjectPRODUCTION FUNCTION
dc.subjectDECLINING WAGES
dc.subjectECONOMIC INEQUALITY
dc.subjectTAXATION
dc.subjectTRADE
dc.subjectUSE VALUE
dc.subjectGDP
dc.subjectGOODS
dc.subjectTHEORY
dc.subjectGENERAL EQUILIBRIUM ANALYSIS
dc.subjectECONOMIES OF SCALE
dc.subjectGROWTH RATE
dc.subjectINVESTMENT
dc.subjectEXTREME POVERTY
dc.subjectCOMPLEMENT
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectPOSITIVE EXTERNALITIES
dc.subjectADVERSE IMPACT
dc.subjectECONOMIC INFORMATION
dc.subjectCOMPETITIVE ADVANTAGE
dc.subjectWAGE DIFFERENTIALS
dc.subjectGINI COEFFICIENT
dc.subjectCONSUMER PRICE INDEX
dc.subjectLENDING
dc.subjectGROWTH POLICIES
dc.subjectGROWTH THEORY
dc.subjectMACROECONOMIC POLICIES
dc.subjectTOTAL OUTPUT
dc.subjectDEVELOPMENT PROJECTS
dc.subjectCONSUMPTION LEVELS
dc.subjectOUTCOMES
dc.subjectFINANCIAL SECTOR
dc.subjectOPEN ECONOMIES
dc.subjectGROWTH POTENTIAL
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectPRICES
dc.subjectCOMPETITION
dc.titleBelize Systematic Country Diagnosticen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleBelize Systematic Country Diagnostic
okr.date.disclosure2016-02-08
okr.doctypeCountry Focus
okr.doctypeCountry Focus::Systematic Country Diagnostic
okr.docurlhttp://documents.worldbank.org/curated/en/2016/02/25875161/belize-systematic-country-diagnostic
okr.guid585281467988934859
okr.identifier.doi10.1596/23953
okr.identifier.externaldocumentum090224b08414905a_1_0
okr.identifier.internaldocumentum25875161
okr.identifier.report102973
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2016/02/04/090224b08414905a/1_0/Rendered/PDF/Belize000Systematic0country0diagnostic.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryBelize
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicSocial Development::Social Inclusion & Institutions
okr.topicEnvironment::Environmental Economics & Policies
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicSocial Protections and Labor::Labor Markets
okr.topicGender::Gender and Development
okr.unitCaribbean Countries CMU (LCC3C)
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