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With its unique mix of theory, historical discussion, case studies, and contemporary analysis, this book provides a complete and detailed comprehension of the business environment in Central America, with a focus specifically on Guatemala. Identifying the key drivers of Central America economic growth and development, it outlines what must be done to take advantage of the opportunities as Guatemala moves into the future. This book will serve as a valuable resource for IB scholars and students seeking to learn more about the changing focus and interests of Central America, and the implications and opportunities this poses for global business interests.
This Selected Issues paper analyzes remittances and households’ behavior in Guatemala. Remittances are a structural feature of the Guatemala economy. In 2017, remittance flows accounted for over 11 percent of GDP and benefitted over 1.5 million of Guatemalan households. The effects of remittances on the labor supply are estimated. There is no evidence of remittance-induced work disincentives. The results suggest that the labor supply for members of remittance-receiving households is relatively more elastic, most markedly so for the 41-65 age group: a one percent increase in weekly wages leads to a 0.5 percent increase in weekly hours worked for members of remittance-receiving households, versus 0.2 percent increase for non-remittance-receiving households.
This paper describes economic developments in Guatemala during the 1990s. The paper discusses social and institutional expenditures of the peace program. The paper highlights that Guatemala’s illiteracy rate was approximately 44 percent in 1995, the second highest in Latin America. Illiteracy is much higher in the predominantly rural departments (about 65 percent), where the indigenous population is more heavily concentrated, than in Guatemala City (16 percent) and is much higher for women (46 percent) than for men (33 percent). The paper also discusses the tax system and trade regime in Guatemala.
This paper reviews economic developments in Guatemala during 1990–97. During 1992–97, Guatemala’s economic performance strengthened, with growth rates averaging 4 percent helped by declining inflation, progress in trade and financial reform, and favorable terms of trade. Efforts to improve fiscal and credit policies contributed to reducing the external current account deficit and strengthening the net international reserve position. The authorities succeeded in bringing the combined public sector position to balance in 1995–96. The tax effort was raised from less than 7 percent of GDP in 1994 to 8.7 percent of GDP in 1996.