Description: Kenya Economic Update, December 2014, No. 11 : Anchoring High Growth

Kenya Economic Update, December 2014, No. 11 : Anchoring High Growth

This is the eleventh edition of the Kenya Economic Update. The special focus of this update examines the structural factors underpinning the poor performance of the manufacturing sector. Drawing on recent firm-level data from the 2010 Industrial Ce...

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Bibliographic Details
Main Author:	World Bank Group
Language:	English en_US
Published:	World Bank, Nairobi 2015
Subjects:	ACCESS TO CAPITAL ACCOUNTING AGGREGATE DEMAND AGRICULTURAL PRODUCTION AGRICULTURE ALLOCATIVE EFFICIENCY AUCTION BALANCE OF PAYMENTS BANK RATE BASE YEAR BASIS POINTS BOND MARKET BUDGET SURPLUSES BUSINESS ENVIRONMENT CAPACITY BUILDING CAPITAL ACCOUNT CAPITAL FLOWS CAPITAL GAINS CAPITAL GOODS CAPITAL OUTFLOWS CASH MANAGEMENT CENTRAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY COMMODITY PRICE COMMON MARKET COMPETITIVE MARKET COMPETITIVENESS CONSOLIDATION CONSUMER DURABLES CONSUMERS CONSUMPTION PATTERNS CREDIT GROWTH CROWDING OUT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT DEBT BURDEN DEBT LEVELS DEBT PAYMENTS DEBT REPAYMENT DEBT SERVICE DEPOSIT DEVOLUTION DOMESTIC BORROWING DOMESTIC DEBT DOMESTIC FINANCIAL MARKETS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMISTS ELECTRICITY GENERATION EMERGING ECONOMIES ENVIRONMENTAL ENVIRONMENTAL PROTECTION EQUALIZATION EQUIPMENT EQUITY FUNDS EUROBOND EXPENDITURE EXPORT GROWTH EXPORT PERFORMANCE EXPORTERS EXPORTS EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL INDEBTEDNESS FEDERAL RESERVE FINANCIAL MANAGEMENT FINANCIAL SERVICES FIRM PERFORMANCE FISCAL AUTONOMY FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL POLICY FISHING FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTORS FORESTRY FUNDS FLOW FUTURE GROWTH GDP GDP PER CAPITA GLOBAL MARKETS GOVERNMENT EXPENDITURE GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH PROJECTIONS GROWTH RATE GROWTH RATES HIGH UNEMPLOYMENT HUMAN CAPITAL HUMAN RESOURCE INCOME TAX INDUSTRIALIZATION INEFFICIENCY INFLATION INFLATION RATE INFLATIONARY PRESSURE INFORMATION SYSTEM INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSURANCE INTEREST PAYMENTS INTEREST RATE INTEREST RATE SPREAD INTEREST RATES INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL TRADE INVESTING INVESTMENT DECISIONS INVESTMENT PROJECTS INVESTMENT SPENDING ITC JOB CREATION LABOR FORCE LABOR MARKET LABOR PRODUCTIVITY LACK OF COMPETITION LENDING INTEREST RATE LEVIES LIQUIDITY LIVING STANDARDS LOAN LOCAL GOVERNMENTS LONG-TERM CAPITAL LONG-TERM INTEREST LONG-TERM INTEREST RATE LONG-TERM INTEREST RATES M1 M2 M3 MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET ANALYST MARKET DISTORTIONS MARKET LAWS MARKET SHARE MATURITIES MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY SUPPLY NATIONAL INCOME NATIONAL SECURITY NATIONAL TREASURY NATURAL RESOURCES NEW ENTRANTS OIL OIL PRICES OPERATING COSTS PEER REVIEW PENSIONS POLICY MAKERS POSITIVE EXTERNALITIES POTENTIAL OUTPUT PRIVATE CONSUMPTION PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PRODUCTIVITY GROWTH PUBLIC BORROWING PUBLIC DEBT PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC POLICY PUBLIC SPENDING REAL EXCHANGE RATE REAL INCOME RECURRENT EXPENDITURE RECURRENT EXPENDITURES REGULATORY FRAMEWORKS REMITTANCES RESERVES RESOURCE MOBILIZATION RISK AVERSE RISK FACTORS SAVINGS SAVINGS RATE SECURITIES SECURITIES EXCHANGE SHARE OF CREDIT SHORT-TERM CAPITAL SHORT-TERM INTEREST RATES SOVEREIGN BOND STOCK MARKET STOCKS SUSTAINABLE GROWTH TARIFF BARRIERS TAX TAX ADMINISTRATION TAX LAWS TAX REFORMS TAX REVENUE TAX REVENUES TAX SYSTEM TAXATION TECHNICAL ASSISTANCE TERRORISM TOTAL DEBT TOTAL FACTOR PRODUCTIVITY TOTAL REVENUE TRADE BALANCE TRADE POLICIES TRADE POLICY TRADING TRANSMISSION OF MONETARY POLICY TRANSPORT TREASURY TREASURY BILL TREASURY BILL RATE TREASURY BILLS TREASURY BONDS URBAN DEVELOPMENT VALUE ADDED WAGES WATER SUPPLY WORLD DEVELOPMENT INDICATORS WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/2014/12/24193201/kenya-economic-update-anchoring-high-growth-can-manufacturing-contribute-more http://hdl.handle.net/10986/21803

Description
Summary:	This is the eleventh edition of the Kenya Economic Update. The special focus of this update examines the structural factors underpinning the poor performance of the manufacturing sector. Drawing on recent firm-level data from the 2010 Industrial Census and the 2013 Enterprise Survey. It investigates the extent to which the sector's lack of dynamism reflects problems in Kenya's business environment, which compares poorly to regional neighbors' on several manufacturing-relevant dimensions. The report has four main messages: First, Kenya begins 2015 in a sound economic position. After growing an estimated 5.4 percent in 2014, its economy is poised to be among the fastest growing in the region, with growth projected at 6.0 percent in 2015, 6.6 percent in 2016, and 7.0 percent in 2017. Second, the external sector remains weak and vulnerable, as import growth continue to outpace export growth and short-term flows finance the current account deficit. The large deficit points to underlying structural weaknesses in Kenya's economy, which need to be addressed. Third, Kenya needs to increase the competitiveness of the manufacturing sector so that it can grow, export, and create much-needed jobs. As a share of GDP, Kenya's manufacturing sector has been stagnant in recent years, and it has lost international market share; lastly, the weak business environmentis a key constraint for the manufacturing sector. Obstacles to doing business affect this sector more than many others because manufacturing needs access to capital for investments, infrastructure to import inputs and export and distribute finished products, affordable and reliable electricity to produce, labor to man operations, and fair and streamlined regulations and trade policies that allow firms to compete.

Kenya Economic Update, December 2014, No. 11 : Anchoring High Growth

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