Are we there yet? The Path Towards Sustained Economic Growth in the Caribbean

Diether Beuermann, Sylvia Dohnert, Henry Mooney and Ricardo Sierra

No 13801 in IDB Publications (Books) from Inter-American Development Bank

Abstract: Increasing the productivity of firms is the main factor for accelerating long-run growth. Prior to 2020, several Caribbean nations were implementing reforms to improve the local conditions for firms to prosper. However, the COVID-19 pandemic reversed much of this progress, bringing the vital tourism industry to a near standstill and exacerbating existing economic challenges. In this context, as Caribbean economies recover, it becomes imperative to implement pending policies to foster economic growth through the private sector. Many of these essential policies pertain to key areas such as the investment climate in which firms operate, the quality of human capital available in local labor markets, the innovation capacity of firms, and the availability and adequacy of firm financing. Accordingly, this volume presents a fresh analysis of these issues covering 13 Caribbean nations: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago. The in-depth assessments presented throughout the book convey a comprehensive understanding of the private sectors evolving role in the Caribbean economy.

Keywords: Caribbean; Economic Development; Sustained Economic; labor; Economy; innovation; Business (search for similar items in EconPapers)
JEL-codes: G20 J20 M20 O30 O40 (search for similar items in EconPapers)
Date: 2024
ISBN: 9781597825573
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Persistent link: https://EconPapers.repec.org/RePEc:idb:idbbks:13801

DOI: 10.18235/0013218

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