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Burkina Faso : Promouvoir la croissance, la competitivite et la diversification : memorandum economique sur le paysThe main conclusion of Country Economic Memorandum is that the previous model of extensive growth has now exhausted its potential and must be renewed. Given the existing population dynamics, low environmental tolerance due to its Sahelian climate and competition forces imposed due to its open economy, Burkina Faso is heavily investing in growth based on increased productivity to overcome its low level of initial human capital, capacity constraints and regulation. To help define the new model of development of Burkina Faso, the Country Economic Memorandum is exploring growth based on productivity both at macro-, meso-economic or sectoral, micro and institutional levels only. It also assesses the sustainability of growth in the human, demographic, financial, fiscal and physical infrastructure. Wherever possible, it evaluates the performance of previous development programs and provides diagnostics on problems. It analyzes the current situation in terms of challenges and opportunities. Several major constraints on growth have been identified and the Memorandum offers practical ways to reduce or mitigate them. These constraints are: i. The frequency of exogenous shocks on agriculture in Burkina Faso, especially cotton, significantly slows the socio-economic development; ii. The real appreciation of the exchange rate has eroded the price competitiveness; iii. The country's attractiveness to foreign direct investment, despite significant progress in the business environment, limited growth potential; iv. The high fertility rates impede growth per capita and social development beginning with human capital; v. Environmental constraints limit the extensive growth of agriculture, while food security is always a challenge for human development; vi. The vulnerability of poor households prevents them from truly engaging in productive economic activities; vii. Constraints on institutional and human capacities reduce the effectiveness of public policies. The first volume of the Memorandum emphasizes the need for Burkina Faso to consider the macroeconomic and microeconomic constraints to growth and competitiveness, draws attention to the low sophistication of its exports and suggests policy instruments to facilitate the promotion of export and investment led by the private sector. The second volume emphasizes (i) the need for appropriate choices to ensure the viability of the cotton sector, (ii) the development of supply chains to achieve food security, growth and import substitution, (iii) the important role in the mining sector for growth, with good revenue management, and finally (iv) the potential of tourism as an industry will depend on the service quality improvements and the accommodation capacity and infrastructure. The third volume identifies the actions necessary to (i) address the issues of demographic change through better information, education and communication campaigns to bring about behavioral changes, (ii) develop instruments of risk management to manage the risks of economic, social, health, natural and food security, (iii) improve the country's access to regional and international markets, better connections to regional transport infrastructure, electricity, and telecommunications, water services and improved irrigation systems, (iv) exploiting the financial intermediation by new mechanisms of access to credit, reform the financial sector and institutional capacity building in financial management and risk in the business sector, and (v) create and use the budget by prioritizing expenditures, ensuring the collection of revenue and increasing the flow of aid.
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Burkina Faso - Promoting Growth, Competitiveness and Diversification : Country Economic Memorandum, Volume 3. Enhancing Growth FactorsThe main conclusion of Country Economic
 Memorandum is that the previous model of extensive growth
 has now exhausted its potential and must be renewed. Given
 the existing population dynamics, low environmental
 tolerance due to its Sahelian climate and competition forces
 imposed due to its open economy, Burkina Faso is heavily
 investing in growth based on increased productivity to
 overcome its low level of initial human capital, capacity
 constraints and regulation. To help define the new model of
 development of Burkina Faso, the Country Economic Memorandum
 is exploring growth based on productivity both at macro-,
 meso-economic or sectoral, micro and institutional levels
 only. It also assesses the sustainability of growth in the
 human, demographic, financial, fiscal and physical
 infrastructure. Wherever possible, it evaluates the
 performance of previous development programs and provides
 diagnostics on problems. It analyzes the current situation
 in terms of challenges and opportunities. Several major
 constraints on growth have been identified and the
 Memorandum offers practical ways to reduce or mitigate them.
 These constraints are: i. The frequency of exogenous shocks
 on agriculture in Burkina Faso, especially cotton,
 significantly slows the socio-economic development; ii. The
 real appreciation of the exchange rate has eroded the price
 competitiveness; iii. The country's attractiveness to
 foreign direct investment, despite significant progress in
 the business environment, limited growth potential; iv. The
 high fertility rates impede growth per capita and social
 development beginning with human capital; v. Environmental
 constraints limit the extensive growth of agriculture, while
 food security is always a challenge for human development;
 vi. The vulnerability of poor households prevents them from
 truly engaging in productive economic activities; vii.
 Constraints on institutional and human capacities reduce the
 effectiveness of public policies. The first volume of the
 Memorandum emphasizes the need for Burkina Faso to consider
 the macroeconomic and microeconomic constraints to growth
 and competitiveness, draws attention to the low
 sophistication of its exports and suggests policy
 instruments to facilitate the promotion of export and
 investment led by the private sector. The second volume
 emphasizes (i) the need for appropriate choices to ensure
 the viability of the cotton sector, (ii) the development of
 supply chains to achieve food security, growth and import
 substitution, (iii) the important role in the mining sector
 for growth, with good revenue management, and finally (iv)
 the potential of tourism as an industry will depend on the
 service quality improvements and the accommodation capacity
 and infrastructure. The third volume identifies the actions
 necessary to (i) address the issues of demographic change
 through better information, education and communication
 campaigns to bring about behavioral changes, (ii) develop
 instruments of risk management to manage the risks of
 economic, social, health, natural and food security, (iii)
 improve the country's access to regional and
 international markets, better connections to regional
 transport infrastructure, electricity, and
 telecommunications, water services and improved irrigation
 systems, (iv) exploiting the financial intermediation by new
 mechanisms of access to credit, reform the financial sector
 and institutional capacity building in financial management
 and risk in the business sector, and (v) create and use the
 budget by prioritizing expenditures, ensuring the collection
 of revenue and increasing the flow of aid.
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Population, Poverty, and Sustainable Development : A Review of the EvidenceThere is a very large but scattered literature debating the economic implications of high fertility. This paper reviews the literature on three themes: (a) Does high fertility affect low-income countries' prospects for economic growth and poverty reduction? (b) Does population growth exacerbate pressure on natural resources? and (c) Are family planning programs effective at lowering fertility, and should they be publicly funded? The literature shows broad consensus that while policy and institutional settings are key in shaping the prospects of economic growth and poverty reduction, the rate of population growth also matters. Recent studies find that low dependency ratios (as fertility declines) create an opportunity for increasing productivity, savings and investment in future growth. They find that lower fertility is associated with better child health and schooling, and better health and greater labor-force participation for women. They also indicate that rapid population growth can constrain economic growth, especially in low-income countries with poor policy environments. Population growth also exacerbates pressure on environmental common property resources. Studies highlight the deep challenges to aligning divergent interests for managing these resources. However, part of the pressure on these resources can be mitigated by reducing the rate of population growth. Although family planning programs are only one policy lever to help reduce fertility, studies find them effective. Such programs might help especially in the Sub-Saharan African region, where high fertility and institutional constraints on economic growth combine to slow rises in living standards.