An Assessment of the Macroeconomic Landscape: 1955–2020

Roger Hosein ()
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Roger Hosein: The University of the West Indies

Chapter Chapter 8 in Oil and Gas in Trinidad and Tobago, 2021, pp 145-156 from Springer

Abstract: Abstract This chapter examines the macroeconomic landscape of Trinidad and Tobago over the period 1955–2020. The analysis is divided into the period 1955–1972, 1973–1982, 1983–1993, 1994–2008 and 2009–2020. These periods coincide with pre first boom (1955–1972), first boom (1973–1982), first recession (1983–1993), second boom (1994–2008) and second recession (2009–2020). The T&T economy benefitted from a surge in petroleum-based economic rents in the period 1955–2018 totaling US$75.2 bn. This surge in economic rents helped to breed a sense of dependence and successive governments failed to aptly diversify the production base away from the petroleum sector.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-77669-5_8

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DOI: 10.1007/978-3-030-77669-5_8

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