Caribbean Economic Overview 2002 : Macroeconomic Volatility, Household Vulnerability, and Institutional and Policy Responses
This report uses an analytical framework that take into account the effect of natural disasters as well as country size in measuring the serious implications macroeconomic or aggregate volatility (marked period-to-period variations in measures of m...
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2002/06/1982683/caribbean-economic-overview-2002-macroeconomic-volatility-household-vulnerability-institutional-policy-responses http://hdl.handle.net/10986/15374 |
| Summary: | This report uses an analytical framework
that take into account the effect of natural disasters as
well as country size in measuring the serious implications
macroeconomic or aggregate volatility (marked
period-to-period variations in measures of macroeconomic
performance, such as GDP growth) has for individuals and
households in Caribbean countries. The report is organized
as follows: Chapter 1 reviews the recent economic and social
development of the Caribbean. Chapter 2 begins by
characterizing volatility of aggregate income and
consumption growth and by employing regression analysis to
assess the relative importance of the different factors that
would be expected to determine macroeconomic volatility in
the Caribbean. The chapter also examines factors that might
be expected to influence the extent to which macroeconomic
volatility is absorbed or amplified-that is, the extent of
financial market development, the behavior of remittances,
and the size and volatility of external capital flows.
Chapter 3 addresses the broad question of how macroeconomic
volatility in the Caribbean affects households and their
income and consumption,; and how households respond to
shocks and how such effects differ by socioeconomic status.
Chapter 4 reviews the extent to which countries and
households in the Caribbean region use market insurance,
self-insurance, self-protection, or other outside protection
mechanisms to deal with aggregate shocks. It points to
policy areas for further attention |
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