Technology, Growth and Productivity in the Caribbean

Wendell Samuel ()
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Wendell Samuel: Jewell Services LLC

Chapter Chapter 3 in Contemporary Issues Within Caribbean Economies, 2022, pp 37-64 from Springer

Abstract: Abstract Accelerating real economic growth requires harnessing technology to increase productivity. The slowdown in Caribbean growth over the last three decades reflects a decline in total factor productivity. Reversing this trend requires addressing the factors that reduce productivity. This chapter notes that while productivity has declined for most Caribbean countries, the drop has been larger in tourism-dependent economies than in commodity exporters. Information and Communication Technology has a positive impact on growth in the Caribbean but has a smaller impact than in other groups of countries. These findings are broadly consistent with enterprise-level data, which suggest that an innovation deficit among Caribbean firms is a large contributing factor.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-98865-4_3

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DOI: 10.1007/978-3-030-98865-4_3

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