Ndiaye, Mansour2017-08-282017-08-282008https://hdl.handle.net/10986/28038Following several years of disappointing economic performance, Senegal has made an important turnaround, with real Gross Domestic Product (GDP) growth averaging over 5 percent annually during 1995-2005. This paper shows that macroeconomic and structural reforms are key factors explaining this recovery. Drivers of sound economic policy decisions in Senegal have included enhanced democratic processes, political commitment to the West African Economic and Monetary Union (WAEMU), and donor community conditionalities.en-USCC BY 3.0 IGOACCESS TO EDUCATIONADJUSTMENT POLICIESADMINISTRATIVE PROCEDURESAGRICULTURAL OUTPUTAGRICULTURAL SECTORAGRICULTUREARREARSARREARS ACCUMULATIONBALANCE OF PAYMENTSBALANCE OF TRADEBANKING CRISISBANKING REGULATIONBANKING SYSTEMBILLBUSINESS LAWCAPITAL FORMATIONCENTRAL BANKCHLORINECLIMATE CHANGECLIMATIC CONDITIONSCOMMERCIAL LAWCOMPANY LAWCOMPETITIVENESSCONSOLIDATIONCORRUPTIONCREDIT POLICYCREDITORSCURRENCYCURRENT ACCOUNTCURRENT ACCOUNT BALANCESCURRENT ACCOUNT DEFICITCUSTOMS DUTIESCUSTOMS UNIONDEBTDEBT RELIEFDEBT RELIEFSDECENTRALIZATIONDEMOCRATIC PROCESSESDEPOSITSDEVALUATIONDEVALUATION PERIODDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPMENT ASSISTANCEDEVELOPMENT BANKDIVERSIFICATIONDOMESTIC ARREARSDOMESTIC DEMANDDOMESTIC SECURITYECONOMIC ACTIVITYECONOMIC DECISIONECONOMIC DEVELOPMENTECONOMIC GEOGRAPHYECONOMIC GROWTHECONOMIC INTEGRATIONECONOMIC OUTLOOKECONOMIC PERFORMANCEECONOMIC POLICIESECONOMIC POLICYECONOMIC REFORMECONOMIC REFORMSECONOMIC RESEARCHECONOMICSEMPLOYMENT OPPORTUNITIESENROLLMENTENVIRONMENTALEQUIPMENTEXCHANGE RATEEXCHANGE RATE POLICYEXOGENOUS SHOCKSEXPENDITUREEXPORT DIVERSIFICATIONEXPORT PERFORMANCEEXPORTSEXPOSUREEXTERNAL DEBTFINANCIAL POLICYFINANCIAL PRODUCTSFINANCIAL SAVINGSFINANCIAL SUPPORTFINANCIAL VIABILITYFINANCING OF ENTERPRISESFIRST COMPANIESFISCAL DEFICITFISCAL POLICIESFISCAL POLICYFISHERIESFLEXIBLE INTEREST RATESFOREIGN ASSETSFOREIGN DEBTFOREIGN DIRECT INVESTMENTFOREIGN INVESTMENTGLOBAL ECONOMYGOVERNANCE ISSUESGOVERNMENT DEFICITGREENHOUSE GASESGROSS CAPITAL FORMATIONGROWTH PERFORMANCEGROWTH POTENTIALGROWTH RATEHUMAN CAPITALIMPORTIMPORTSINCOME SHOCKSINCOME-GENERATING ACTIVITIESINEQUALITYINFLATIONINFLATION RATEINTERNATIONAL BANKINTERNATIONAL COMPETITIVENESSINTERNATIONAL DEVELOPMENTINTERNATIONAL FINANCEINVENTORIESINVESTMENT FUNDSINVESTMENT RATESINVESTOR INTERESTJUDICIAL SYSTEMLABOR COSTSLABOR MARKETLIVING CONDITIONSLOSS OF REVENUEMACROECONOMIC ENVIRONMENTMACROECONOMIC STABILITYMARKET CAPITALIZATIONMARKET MECHANISMSMINIMUM WAGEMONETARY FUNDMONETARY POLICIESMONETARY POLICYMONETARY UNIONMONEY MARKETMONOPOLIESMONOPOLYNATURAL RESOURCESOBSTACLES TO GROWTHOILOIL PRICESPEER PRESSUREPEGPOLICY DECISIONSPOLICY MAKERSPOLITICAL ECONOMYPOVERTY ALLEVIATIONPOVERTY REDUCTIONPRICE COMPETITIVENESSPRIVATE CONSUMPTIONPRIVATE INVESTMENTPRIVATIZATIONPRIVATIZATIONSPRODUCTION COSTSPRODUCTIVITY GROWTHPUBLIC DEBTPUBLIC EXPENDITUREPUBLIC FINANCESPUBLIC GOODSPUBLIC INVESTMENTPUBLIC-PRIVATE PARTNERSHIPRATES OF INFLATIONRE-EXPORTSREAL EFFECTIVE EXCHANGE RATEREAL ESTATEREAL EXCHANGE RATEREAL EXCHANGE RATE MISALIGNMENTREAL GDPREGULATORY FRAMEWORKREMITTANCESRESERVESRETURNRULE OF LAWSECURITIESSECURITIES EXCHANGESLOW GROWTHSOCIAL DEVELOPMENTSOCIAL INEQUALITIESSOURCE OF INCOMESTOCK EXCHANGESTRUCTURAL ADJUSTMENTSTRUCTURAL REFORMSTAXTAX COLLECTIONTAX REVENUETAX SYSTEMTAXATIONTELECOMMUNICATIONSTOTAL EXPORTSTRADE DEFICITTRADE POLICIESTRADE PROTECTIONTRADE RESTRICTIVENESSTRANSPARENCYTREATYUNCERTAINTIESUNIONURBAN AREASWAGESWITHDRAWALWORLD MARKETSWORLD PRICESWorking PaperWorld Bank10.1596/28038