Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century
This report seeks to discuss the critical constraints to sustainable, job-creating growth, and to present policy options for the region and country Governments to stimulate such growth. It analyzes growth performance in the Caribbean over the last four decades, and highlights key determinants of pas...
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| Format: | Country Economic Memorandum |
| Language: | English en_US |
| Published: |
Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2005/04/5778187/latin-america-caribbean-time-choose-caribbean-development-21st-century http://hdl.handle.net/10986/8542 |
| id |
okr-10986-8542 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADDICTION ADMINISTRATIVE PROCEDURES AGRICULTURE ARBITRAGE BENCHMARKING BONDS BUSINESS ENVIRONMENT CIVIL SOCIETY CLIMATE COMMUNICATION TECHNOLOGY COMPETITIVENESS CRIME CROWDING OUT DEBT DEVELOPMENT STRATEGY DIRECT INVESTMENT DISASTERS ECONOMIC GROWTH ECONOMIES OF SCALE ECONOMISTS ELASTICITY EMPLOYMENT ENDOWMENTS EXCHANGE RATE EXPORT GROWTH EXPORTS FINANCIAL SECTOR GDP GENERALIZED SYSTEM OF PREFERENCES GNP GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT GROWTH PERFORMANCE GROWTH PROJECTIONS GROWTH RATES HEALTH SERVICES HUMAN DEVELOPMENT IMPORTS INCOME INCOME DISTRIBUTION INFRASTRUCTURE/CHAPTER INNOVATION INSTITUTIONAL CAPACITY INSURANCE INTERNATIONAL TRADE INVESTMENT CLIMATE LABOR COSTS LABOR FORCE LABOR MARKETS LEGISLATION MEDIA MIDDLE INCOME COUNTRIES MIGRANTS MIGRATION PER CAPITA INCOME PER CAPITA INCOMES POLICY RESEARCH POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL STABILITY PRIMARY EDUCATION PRIMARY SCHOOL PRIVATE SECTOR PROCUREMENT PRODUCERS PRODUCTION COSTS PRODUCTIVITY PUBLIC EMPLOYMENT PUBLIC SECTOR PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY REGRESSION ANALYSIS REGULATORY ENVIRONMENT SCHOOLS SOCIAL DEVELOPMENT TERTIARY EDUCATION TOTAL FACTOR PRODUCTIVITY UNEMPLOYMENT VALUE ADDED VESTED INTERESTS VIOLENCE WAGES WORKERS WORLD TRADE ORGANIZATION WTO YOUTH |
| spellingShingle |
ADDICTION ADMINISTRATIVE PROCEDURES AGRICULTURE ARBITRAGE BENCHMARKING BONDS BUSINESS ENVIRONMENT CIVIL SOCIETY CLIMATE COMMUNICATION TECHNOLOGY COMPETITIVENESS CRIME CROWDING OUT DEBT DEVELOPMENT STRATEGY DIRECT INVESTMENT DISASTERS ECONOMIC GROWTH ECONOMIES OF SCALE ECONOMISTS ELASTICITY EMPLOYMENT ENDOWMENTS EXCHANGE RATE EXPORT GROWTH EXPORTS FINANCIAL SECTOR GDP GENERALIZED SYSTEM OF PREFERENCES GNP GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT GROWTH PERFORMANCE GROWTH PROJECTIONS GROWTH RATES HEALTH SERVICES HUMAN DEVELOPMENT IMPORTS INCOME INCOME DISTRIBUTION INFRASTRUCTURE/CHAPTER INNOVATION INSTITUTIONAL CAPACITY INSURANCE INTERNATIONAL TRADE INVESTMENT CLIMATE LABOR COSTS LABOR FORCE LABOR MARKETS LEGISLATION MEDIA MIDDLE INCOME COUNTRIES MIGRANTS MIGRATION PER CAPITA INCOME PER CAPITA INCOMES POLICY RESEARCH POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL STABILITY PRIMARY EDUCATION PRIMARY SCHOOL PRIVATE SECTOR PROCUREMENT PRODUCERS PRODUCTION COSTS PRODUCTIVITY PUBLIC EMPLOYMENT PUBLIC SECTOR PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY REGRESSION ANALYSIS REGULATORY ENVIRONMENT SCHOOLS SOCIAL DEVELOPMENT TERTIARY EDUCATION TOTAL FACTOR PRODUCTIVITY UNEMPLOYMENT VALUE ADDED VESTED INTERESTS VIOLENCE WAGES WORKERS WORLD TRADE ORGANIZATION WTO YOUTH World Bank Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century |
| geographic_facet |
Latin America & Caribbean |
| description |
This report seeks to discuss the critical constraints to sustainable, job-creating growth, and to present policy options for the region and country Governments to stimulate such growth. It analyzes growth performance in the Caribbean over the last four decades, and highlights key determinants of past and also future growth. Given the recent deterioration in government finances, the report then studies key areas of government expenditure. A discussion of the climate for private investment follows, which looks at the framework that shapes the risks and returns for private investment. The report then discusses the impact of recent trade developments on the Caribbean, the future outlook in view of major ongoing changes in the international environment, as well as the opportunities that are likely to emerge, especially in the services sector. It then focuses on some key factors that have been significant in determining past growth in the Caribbean, including labor market issues; education, skill development and training; and, infrastructure. The report suggests a pro-active approach for the region to take on the challenges of a group of small states, facing severe resource constraints, eroding trade preferences, declining productivity, and increasing risk of macro instability. First, it argues that greater integration within the CARICOM region on several fronts will be a critical input into improving competitiveness. Second, on trade, the report argues that a negotiation of an orderly dismantling of preferences in return for increased technical and financial support would be in the region's interest. Third, improving the investment climate, and orienting it away from being subsidy-driven, addressing problems of high taxes and inefficient customs procedures, as well as specific infrastructure deficiencies, would help improve the quality of private investment and maintain the high levels of Foreign Direct Investment (FDI). Fourth, making the public sector more cost-effective and delivering services more efficiently, through greater reliance on the private sector, seeking cost efficiencies through regional cooperation. Fifth, improving the quality and effectiveness of human resources would enable diversification into knowledge-based activities including services, increase exports, and improve productivity in existing activities. |
| format |
Economic & Sector Work :: Country Economic Memorandum |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century |
| title_short |
Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century |
| title_full |
Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century |
| title_fullStr |
Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century |
| title_full_unstemmed |
Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century |
| title_sort |
latin america and the caribbean : a time to choose, caribbean development in the 21st century |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/04/5778187/latin-america-caribbean-time-choose-caribbean-development-21st-century http://hdl.handle.net/10986/8542 |
| _version_ |
1764404906157932544 |
| spelling |
okr-10986-85422021-04-23T14:02:39Z Latin America and the Caribbean : A Time to Choose, Caribbean Development in the 21st Century World Bank ADDICTION ADMINISTRATIVE PROCEDURES AGRICULTURE ARBITRAGE BENCHMARKING BONDS BUSINESS ENVIRONMENT CIVIL SOCIETY CLIMATE COMMUNICATION TECHNOLOGY COMPETITIVENESS CRIME CROWDING OUT DEBT DEVELOPMENT STRATEGY DIRECT INVESTMENT DISASTERS ECONOMIC GROWTH ECONOMIES OF SCALE ECONOMISTS ELASTICITY EMPLOYMENT ENDOWMENTS EXCHANGE RATE EXPORT GROWTH EXPORTS FINANCIAL SECTOR GDP GENERALIZED SYSTEM OF PREFERENCES GNP GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT GROWTH PERFORMANCE GROWTH PROJECTIONS GROWTH RATES HEALTH SERVICES HUMAN DEVELOPMENT IMPORTS INCOME INCOME DISTRIBUTION INFRASTRUCTURE/CHAPTER INNOVATION INSTITUTIONAL CAPACITY INSURANCE INTERNATIONAL TRADE INVESTMENT CLIMATE LABOR COSTS LABOR FORCE LABOR MARKETS LEGISLATION MEDIA MIDDLE INCOME COUNTRIES MIGRANTS MIGRATION PER CAPITA INCOME PER CAPITA INCOMES POLICY RESEARCH POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL STABILITY PRIMARY EDUCATION PRIMARY SCHOOL PRIVATE SECTOR PROCUREMENT PRODUCERS PRODUCTION COSTS PRODUCTIVITY PUBLIC EMPLOYMENT PUBLIC SECTOR PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY REGRESSION ANALYSIS REGULATORY ENVIRONMENT SCHOOLS SOCIAL DEVELOPMENT TERTIARY EDUCATION TOTAL FACTOR PRODUCTIVITY UNEMPLOYMENT VALUE ADDED VESTED INTERESTS VIOLENCE WAGES WORKERS WORLD TRADE ORGANIZATION WTO YOUTH This report seeks to discuss the critical constraints to sustainable, job-creating growth, and to present policy options for the region and country Governments to stimulate such growth. It analyzes growth performance in the Caribbean over the last four decades, and highlights key determinants of past and also future growth. Given the recent deterioration in government finances, the report then studies key areas of government expenditure. A discussion of the climate for private investment follows, which looks at the framework that shapes the risks and returns for private investment. The report then discusses the impact of recent trade developments on the Caribbean, the future outlook in view of major ongoing changes in the international environment, as well as the opportunities that are likely to emerge, especially in the services sector. It then focuses on some key factors that have been significant in determining past growth in the Caribbean, including labor market issues; education, skill development and training; and, infrastructure. The report suggests a pro-active approach for the region to take on the challenges of a group of small states, facing severe resource constraints, eroding trade preferences, declining productivity, and increasing risk of macro instability. First, it argues that greater integration within the CARICOM region on several fronts will be a critical input into improving competitiveness. Second, on trade, the report argues that a negotiation of an orderly dismantling of preferences in return for increased technical and financial support would be in the region's interest. Third, improving the investment climate, and orienting it away from being subsidy-driven, addressing problems of high taxes and inefficient customs procedures, as well as specific infrastructure deficiencies, would help improve the quality of private investment and maintain the high levels of Foreign Direct Investment (FDI). Fourth, making the public sector more cost-effective and delivering services more efficiently, through greater reliance on the private sector, seeking cost efficiencies through regional cooperation. Fifth, improving the quality and effectiveness of human resources would enable diversification into knowledge-based activities including services, increase exports, and improve productivity in existing activities. 2012-06-20T18:12:18Z 2012-06-20T18:12:18Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5778187/latin-america-caribbean-time-choose-caribbean-development-21st-century http://hdl.handle.net/10986/8542 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Latin America & Caribbean |