Economic growth, equity, and agricultural development in the Dominican Republic

by Lehman B. Fletcher

Publisher: Dept. of Economics, Iowa State University in Ames, Iowa

Written in English
Published: Pages: 465 Downloads: 651
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Places:

  • Dominican Republic.

Subjects:

  • Agriculture -- Economic aspects -- Dominican Republic.

Edition Notes

Bibliography: p. 458-465.

Statementby Lehman B. Fletcher and Eric Graber ; with contributions by Michael Applegtate [i.e. Applegate] ... [et al.].
SeriesInternational studies in economics ;, monograph no. 12
ContributionsGraber, Eric., Applegate, Michael.
Classifications
LC ClassificationsHD1844 .F58
The Physical Object
Paginationx, 465 p.:
Number of Pages465
ID Numbers
Open LibraryOL4243258M
LC Control Number80624382

Positive natural change will continue to drive population growth in the Dominican Republic up to It will remain an overwhelmingly young country with children accounting for around a quarter of the population in , despite the rapid expansion of older age groups and falling birth rates. Economy | October 30th Haiti introduces US$ fee on Dominican freight trucks The non-tariff barrier will help Haiti's producers amid appreciation of the gourde but will hurt Dominican exporters. Among the sociodemographic aspects of the food and nutrition problem is the rate of population growth, which increased in the Dominican Republic to its maximum in and dropped to % in At the same time, the urban component increased to 52% of the population in from 24% in   Women and girls are the backbone of Haitian society and local economy. Nearly half of Haitian households are women-led. Women are also pillars of economic life, as they form the majority of street vendors and support agricultural supply chains. However, women and girls continue to be affected by severe inequality, and gender-based violence (GBV).

Dominican Republic - Future trends The Dominican Republic enters the 21st century having made considerable strides in modernizing its economy and ridding itself of dependency on sugar. Its economy is now relatively diversified between agriculture, manufacturing and services.   En español Latin America faces old and new development challenges. While, over the last two decades, some countries have implemented solid macroeconomic policies and many have improved their financial regulatory and supervisory frameworks, large segments of the population have not reaped the benefits from economic growth. The COVID crisis has only made things . This working paper looks at the benefits that coastal ecosystems provide to the Dominican Republic. The studies highlight the contribution of coastal ecosystems to the economy and the need for greater investment in protecting coastal and marine ecosystems, including better management of marine fisheries, protection of existing reserves, and enforcement of coastal development guidelines. After a broad-based economic expansion of % in , the economy of the Dominican Republic started to slow down at the start of In the first quarter of , GDP growth fell down to % year-on-year, but growth picked up again in the two following quarters. In the first quarter, the contribution of consumption to growth was negative.

  Global poverty is decreasing, but billions of people still do not have the resources they need to survive and thrive. Economic growth can reduce poverty, but it can also drive inequality that generates social and economic problems. And efforts at domestic resource mobilization through taxation, though critical to funding the SDGs, can negatively impact the poor. MIGA has provided guarantees of $1 million and $ million to Caribe Hospitality S.A. of Panama and Scotiabank (Cayman Islands) Ltd. of the Cayman Islands, a territory of the United Kingdom, for their respective $5 million and $ million equity investment in, and non-shareholder loan to, Caribe Hospitality de la Republica Dominicana, S.A. in the Dominican Republic.   New Delhi: Export of vegetables has risen to about 20% more than the pre-Covid levels, helped by demand from West Asia and Europe and lower air freight, exporters and officials said. Indian exporters also earned goodwill as they had ensured steady supply even when freight rates were high unlike countries like Egypt, China, Kenya and Dominican Republic, said Sunil Awari, GM at . Agriculture & Rural Development. Agricultural irrigated land (% of total agricultural land) Economy & Growth. Household Consumption Data and Statistics. Poverty & Equity Data. Annualized average growth rate in per capita real survey mean consumption or income, bottom 40% of population (%).

Economic growth, equity, and agricultural development in the Dominican Republic by Lehman B. Fletcher Download PDF EPUB FB2

Over the past 25 years, the Dominican Republic (DR) has experienced a remarkable period of robust economic growth. The economy continued its rapid expansion in the Economic growth leading up to the COVID pandemic, and between and the DR’s annual GDP growth rate averaged %.

Tourism, remittances, foreign direct investment, mining revenues, free-trade zones, and. Country Facts. The Dominican Republic stands out as one of the fastest growing economies in the Americas. In andthe GDP growth was at 7 per cent, making the country the most rapid economy in the region.; Agriculture is the fourth-largest economic sector in the country, and the sector employs 15 per cent of the economically active population.

The Dominican Republic, though the fastest-growing economy in Latin America and the Caribbean sincecannot afford complacency. The COVID crisis may accelerate existing global trends that created the need for reforms addressing structural weaknesses that lurked beneath the surface well before the pandemic.

The current situation demands an unpreceded policy effort to ensure a prompt. Country situation and role of agriculture The Dominican Republic is a medium-income country. It is one of the fastest growing economies in Latin America and the Caribbean, with GDP growth averaging percent annually between and The country has reached the Millennium Development Goal 1 (MDG1) hunger target as well as the more stringent.

The Dominican Republic, though the fastest-growing economy in Latin America and the Caribbean sincecannot afford complacency. The COVID crisis may accelerate existing global trends that created the need for reforms addressing structural weaknesses that lurked beneath the surface well before the pandemic.

This World Bank report describes the economic development problems of the Dominican Republic in chapters on recent economic growth (agriculture, rural development, water resources, the sugar industry, electric power and other energy sources, fuel conservation, industrial growth and the promotion of new exports, tourism), the role of the public sector, the short term economic outlook, growth.

Agriculture continues to shrink as a percentage of GDP, but the Dominican Republic’s small farmers have developed a growing niche industry in organic and fair trade products like coffee and cocoa for export and the overall annual growth rate of the sector was % in The uneven distribution of arable land continued to be a fundamental obstacle to the economic development of equity Dominican Republic in the s.

Despite active attempts to reform land tenure patterns, the basic dichotomy of latifundio and minifundio. The Dominican Republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but over the last three decades the economy has become more diversified as the service sector has overtaken agriculture as the economy's largest employer, due to growth in construction, tourism, and free trade zones.

This, in turn, has lead to lower rural income levels, increased poverty, and reduced economic growth and competitiveness. With the exception of the banana industry in the Eastern Caribbean and a public insurance company in the Dominican Republic, agricultural insurance against natural disasters is non-existent in the region.

Dominican Republic Economic Growth The economy should bounce back next year, supported by a recovery in the U.S.—the key source of exports and remittances—and stronger domestic activity. However, a potentially slow recovery in tourist arrivals, further waves of Covid, instability in neighboring Haiti and elevated public debt are risks to.

The economy of the Dominican Republic is set to surpass its regional neighbors this year, notching the highest growth in the Caribbean region. The DR has been gaining attention for its ability to maintain steady robust economic growth. Agricultural landscape Dominican-UK trade is increasing; from £ million init stood at £ million in The agriculture sector in the DR requires foreign investment and the adoption of new technologies to support its growth and sustainability.

Market overview Agriculture in the Dominican Republic is a very important sector in terms of food. The Dominican Republic's economy rebounded from the global recession inand the fiscal situation is improving.

A tax reform package passed in Novembera reduction in government spending, and lower energy costs helped to narrow the central government budget deficit from % of GDP in to % in the Dominican Republic experienced a peri od of sustained economic growth.

From From through the economy expanded by nearly 8 per cent per year, realizing one. GDP Growth Rate in Dominican Republic averaged percent from untilreaching an all time high of percent in the first quarter of and a record low of percent in the second quarter of This page provides - Dominican Republic Gdp Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Little productive economic activity occurred in Eastern Hispaniola (the approximate site of the present-day Dominican Republic).

The French assumed control of the western third of the island inestablishing Saint- Domingue (modern-day Haiti), which developed into a productive agricultural center on the basis of black slave labor.

The Dominican Republic's economy shrank percent year-on-year in the second quarter offollowing a stagnation in the previous period. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. GDP Annual Growth Rate in Dominican Republic averaged percent from untilreaching an all time high of 14 percent in the second quarter of.

The Dominican Republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy’s largest employer, due to growth in telecommunications, tourism, and free trade zones.

Except for a slump inwhen the economy grew by only %, economic growth has averaged % over the last five years. According to the World Bank, this is “well above the average in sub. Dominican Republic - AGRICULTURE. Agriculture, the backbone of the Dominican economy for centuries, declined in significance during the s and the s, as manufacturing, mining, and tourism began to play more important roles in the country's development.

The economy of the Dominican Republic is the eighth largest in Latin America, and is the largest in the Caribbean and Central American region.

The Dominican Republic is an upper-middle income developing country primarily dependent on mining, agriculture, trade, and services.

The country is the site of the single largest gold mine in Latin America, the Pueblo Viejo mine. The Dominican Republic (DR) — with assistance from the World Bank, Inter-American Development Bank, the Caribbean Development Bank and other institutions — has instilled a clear strategy for economic development.

Fortunately, the Dominican Republic is now reaping the fruits of such labor. Up-to-Date Advances. There are several facets to the economic growth in the Dominican Republic. The economy contracted in and recovered to positive growth in due to a recovery of agriculture and tourism.

Dominica suffers from high debt levels, which increased from 67% of GDP in to 77% in USAID/Dominican Republic: Education Sector Assessment Executive Summary Introduction This document is a discussion paper addressing the potential role of USAID in the education of the Dominican Republic, the areas of a potential policy agenda, and possible civil society partners in the Dominican Republic.

Dominican Republic Global Economic Prospects examines trends for the world economy and how they affect developing countries. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets.

RECENT ECONOMIC GROWTH e. 2: Agriculture and Rural Development 12 Dominican Republic: Its Main Economic Development Problems Volume 1, Part 71 of Dominican Republic ; Its Main Economic Development Problems World Bank country study, ISSN Contributor: World Bank.

Latin America and the Caribbean Regional Office. Agriculture Employment for Dominican Republic from The World Bank for the World Development Indicators (WDI) release. This page provides forecast and historical data, charts, statistics, news and updates for Dominican Republic Agriculture Employment.

Although it has declined dramatically since the s, agriculture remains an important factor in the economy of the Dominican Republic, accounting for an estimated percent of the GDP in Inabout 17 percent of Dominicans were employed in agricultural work, either as small farmers or plantation workers.

The Dominican Republic is the fastest-growing economy in the Americas, with the Caribbean country reporting 7% growth in GDP for An increase in tourist arrivals, rising foreign remittances, and low oil prices are the factors fueling the economy, according to the country’s central bank.

Tourism is the chief contributor of growth. ranching, farming, and livestock, as opposed to plantation agriculture (Dubois 16). While Saint-Domingue exported cash crops, the leading exports of the Spanish colony were hides and animal skins.

These fundamental differences in the structures of the two colonies played a major role in the development of Haiti and the Dominican Republic in.

The book also covers on issues leading to the changing role of agriculture with economic growth, structural transformation and poverty reduction, improvement in nutritional outcomes, as well as challenges of tackling climate change.

The book launch is jointly organized by IFPRI-SAR and Institute for Integrated Development Studies (IIDS) read more.Dominican Republic - Dominican Republic - Demographic trends: The rate of population increase in the Dominican Republic is greater than in most other West Indian nations, and about three-tenths of the population is less than 15 years of age.

Both birth and death rates in the republic have long been higher than the regional average, although they have been lower than in Haiti (see Health and.