The paper applies a modified Hausmann, Rodrik, and Velasco (HRV) growth diagnostics framework to analyse Malawi's growth challenges. The study finds five critical binding constraints affecting productive investment and output growth in Malawi. These include land administration, taxation, customs and trade regulations, political governance, and cost‐of‐finance. Land constraints are evidenced by highly urban and rural population growth, an inverse co‐movement between the rural population and investment per capita, and low land administration indices. Tax constraints are evidenced by the negative growth of investment per capita. Customs and trade regulations constraints are evidenced by nontariff measures, such as high costs and the time it takes to export and import. Political governance constraints are evidenced by rising government debt and the low score on transparency, accountability, and corruption based on the World Bank's Public Transparency Scale. Lastly, high cost‐of‐finance constraints are evidenced by monetary policy challenges, such as high real interest rates, inflation rate, uncompetitive exchange rate, and foreign aid ineffectiveness. Therefore, we recommend that the formulation of crucial policy strategies to alleviate these five significant binding constraints be encouraged. The government should base such an approach to sound growth therapeutics that fully account for each challenge's root causes.

中文翻译：

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对马拉维生产性投资的约束：经修改的HRV框架

本文采用经过修改的Hausmann，Rodrik和Velasco（HRV）增长诊断框架来分析马拉维的增长挑战。该研究发现了影响马拉维生产性投资和产出增长的五个关键约束约束。其中包括土地管理，税收，海关和贸易法规，政治治理和财务成本。城乡人口的快速增长，农村人口与人均投资之间的逆向运动以及低土地管理指数证明了土地的局限性。人均投资的负增长证明了税收限制。关税和贸易法规的限制可以通过非关税措施来证明，例如高成本和进出口时间。根据世界银行《公共透明度表》，政府债务增加，透明度，问责制和腐败评分低，证明了政治治理的局限性。最后，货币政策挑战证明了高昂的财务成本约束，例如高实际利率，通货膨胀率，无竞争力的汇率和外国援助无效。因此，我们建议鼓励制定关键的政策策略以减轻这五个重要的约束性约束。政府应采用这种方法来制定合理的增长疗法，从而充分考虑到每个挑战的根本原因。货币政策挑战证明了高昂的财务成本约束，例如高实际利率，通货膨胀率，无竞争力的汇率和外援无效。因此，我们建议鼓励制定关键的政策策略以减轻这五个重要的约束性约束。政府应采用这种方法来制定合理的增长疗法，从而充分考虑到每个挑战的根本原因。货币政策挑战证明了高昂的财务成本约束，例如高实际利率，通货膨胀率，无竞争力的汇率和外援无效。因此，我们建议鼓励制定关键的政策策略以减轻这五个重要的约束性约束。政府应采用这种方法来制定合理的增长疗法，从而充分考虑到每个挑战的根本原因。