Private Direct Investment and Development Policy in the Caribbean: Nationalism and Nationalization Scared Away Foreign Investors but Reagan Initiative's Luring Them

Kempe Ronald Hope

American Journal of Economics and Sociology, 1989, vol. 48, issue 1, 69-78

Abstract: Abstract. Private direct investment has been on the decline in the Caribbean countries in recent years, and so have been their private sectors. After they achieved independence, governments as well as peoples, because of growing nationalism, developed hostility to foreign investors. But a considerable number of empirical studies have made it overwhelmingly clear that private foreign investment has made a meaningful contribution to their development process and it is clear that this could be true again. Within this context, the Reagan Administration's Caribbean Basin Initiative may make a significant contribution to Caribbean development. At the outset, 285 new projects appear to be creating 36,000 new Jobs in non‐traditional areas of the economy.

Date: 1989
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