Côte d'Ivoire

Jolie Habashy

Overall Score: 58.5

World Rank: 103

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Compare and Contrast Côte d'Ivoire vs United States

Côte d'Ivoire vs United State

Population:

Côte d'Ivoire: 24.1 million

United States: 316.4 million

GDP:

Côte d'Ivoire: $43.8 billion

United States: $16.8 trillion

GDP growth %:

Côte d'Ivoire: 8.1% growth

United States: 1.9% growth

GDP per Capita:

Côte d'Ivoire: $1,818 per capita

United States: $53,101 per capita

Unemployment:

Côte d'Ivoire: 3.9%

United States: 7.5%

Inflation:

Côte d'Ivoire: 2.6%

United States: 1.5%

Legal System

There is weak rule of law Côte d’Ivoire . Therefore the government is very corrupt and property rights are rare especially anywhere out of urban areas.The government has improved ,but the investment and private and public corruption still exists especially with judicial proceedings, contract awards, customs, and tax issues. People often have to pay "extra" dues to the government just to get a birth/death certificate or an automobile title. In conclusion, Côte d’Ivoire’s legal system is weak, but is an improving work in progress.

Competitive Markets

The government in Côte d’Ivoire’s has made plans to privatize many state-owned businesses. This will increase the competitiveness in the markets within the country because private owned companies increase competitiveness. This is because citizens care less for government owned properties because it is a share property. When one or few people own property they do their best to preserve the property and make profit off of it. Therefore, the markets are becoming increasingly more competitive in Côte d’Ivoire.

Limits on Government Regulation

Côte d’Ivoire’s government is reducing control and regulation on business affairs. There are significantly less procedures that need to take place in order to start businesses. This shows that limits on government regulation in Côte d’Ivoire’s is becoming less and less. These less burdening limits are good for the economy of the country. This is because less limits by the government facilitate a more fluid less retarded economy.

An Efficient Capital Market

Côte d’Ivoire’s economy has been progressively expanding every year through the incorporation of business and investment in their economy thanks to government support. The country is starting to improve its own economy by slowly but surely including wealth creating projects and trade. The country is also recently incorporating the international trade of coffee and palm oil which has contributed to its slowly prospering economy. All these elements contribute to the efficiency of Côte d’Ivoire’s capital market.

Monetary Stability

Côte d’Ivoire is part if the West African Economic and Monetary Union. UEMOA member countries work toward greater regional integration with unified external tariffs.This Union has many economic policies that help stabilize its money. Through regulation this union is able to offer a stable stock exchange and a more unified economy. This union works to add monetary stability to the country.

Low Tax Rates

Côte d’Ivoire’s highest income tax rate is thirty six percent. The government is also putting much of its citizens into debt through taxation, The country in general does not have a lot of fiscal freedom.The high tax rates in the country make people less likely to produce more because they can't keep what they make. This is not one of their strong sources of economic progress as a country.

Free Trade

Côte d’Ivoire has been largely involved in the international trade of Palm oil and Coffee. The cost producing this product domestically is much less than buying it from another country. This helps the country benefit from trade. This is not only because the country is being cost efficient but also it makes profit off these products that it trades to other countries who benefit by not producing these products domestically. Therefore, the country is doing well in the source of free trade.
Cote d'Ivoire Growing Economy.
This video talks about controvesy of Côte d’Ivoire's economy growing. This is a result of the economy growth rate almost doubling but at the same time people are not seeing any results. Citizens are claiming that people are still poor and on the streets and therefore the growth rate is a joke/fake.