[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108243-en":3,"doc-seo-108243-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108243,34359740700684,"Finn","https://ap-avatar.wpscdn.com/avatar/1f400023980c374ae676?_k=1777273430885731487",8,"Research & Report","Timor-Leste - Pathways to Economic Diversification - Country Economic Memorandum 2023","Timor-Leste: Pathways to Economic Diversification - Country Economic Memorandum 2023 examines the country’s economic performance and the constraints shaping growth in a small-state context. It reviews growth dynamics since independence, identifies competitiveness gaps across institutions, infrastructure, health and primary education, and the macro-fiscal environment. The memorandum also analyzes the private sector and cross-cutting barriers such as political instability, regulatory uncertainty, low investment, limited land and finance access, and infrastructure weaknesses, concluding with policy recommendations to strengthen foundations for private-sector-led growth.","Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized  \n© 2023 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW  \nWashington DC 20433 Telephone: 202-473-1000  \n[Internet: www.worldbank.org](Internet: www.worldbank.org)  \nThis workis a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent.  \nThe World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does not assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.  \nNothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.  \nRights and Permissions  \nThe material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given.  \nAny queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: [pubrights@worldbank.org](pubrights@worldbank.org).  \n[Cover photo: J](Cover photo: JM Travel Photography / www.shutterstock.com)[M Travel Photography](Cover photo: JM Travel Photography / www.shutterstock.com)[ / www.shutterstock.com](Cover photo: JM Travel Photography / www.shutterstock.com)  \nCover design and layout: Arsianti  \nTimor-Leste: Pathways to Economic  \nDiversification  \nCountry Economic Memorandum 2023  \nTABLE OF CONTENTS  \nACRONYMS ........................................................................................................................... ix  \nACKNOWLEDGMENTS ....................................................................................................... xi  \nEXECUTIVE SUMMARY........................................................................................................ 1  \nCHAPTER I: OVERVIEW OF TIMOR-LESTE’S ECONOMIC PERFORMANCE...........9  \n1.1. Introduction and Country Context .............................................................................................. 9  \na. Motivation and Framework for the Country Economic Memorandum..................................... 9  \nb. Country Context and History....................................................................................................10  \n1.2. Growth in Timor-Leste and Other Small States .........................................................................13  \na. Structural Constraints to Growth in Small States ......................................................................13  \nb. Timor-Leste’s Growth Performance Relative to Other Small States ........................................16  \nc. Diagnosing Timor-Leste’s Growth Performance since Independence ....................................19  \n1.3. Timor-Leste’s Competitiveness Gaps.........................................................................................21  \na. Timor-Leste’s Institutions and Political Stability .................................................................... 24  \nb. Infrastructure Development ..................................................................................................... 27  \nc. 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