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This Selected Issues paper examines the prospects for Latvia continuing to rapidly reduce its distance from the productivity frontier. It looks at the empirical record of countries that have in the past attained a similar relative level of income to that of Latvia at present, to gauge the plausibility of the forecast for Latvia’s medium term GDP growth of about 4 percent per year. It highlights that more than one-third of the countries reaching a similar stage of development managed to sustain higher subsequent growth. The paper also confirms the importance of investment and structural reforms for Latvia’s future convergence, using a sector-level analysis.

Financial crises -- Latvia. --- Latvia -- Economic conditions. --- Latvia -- Economic policy. --- Business & Economics --- Economic History --- Labor --- Macroeconomics --- Production and Operations Management --- Demography --- Emigration and Immigration --- International Migration --- Macroeconomics: Production --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Demographic Economics: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Migration, immigration & emigration --- Labour --- income economics --- Population & demography --- Manufacturing industries --- Migration --- Productivity --- Labor productivity --- Population and demographics --- Production --- Emigration and immigration --- Industrial productivity --- Population --- Economic theory --- Latvia, Republic of --- Income economics