Institutions and the historical conditions that influenced their formation are now widely considered important to understanding differences in economic development across countries. There are alternative views on the channels through which the colonial experience influenced present-day development outcomes. Some economists have argued in favor of a “colonizer effect,” whereby … [Read more...] about Colonization and Institutions in the Caribbean
How much do workforce skills matter for innovation in the Caribbean?
Innovation levels in the Caribbean region are relatively low. On average, roughly 19 percent of Caribbean firms reported having engaged in some form of innovation in the past three years. The range varies from the lowest, at 4.8 percent of firms in Dominica, to the highest at 53 percent of firms in Guyana. A higher proportion of firms reported their intention to engage in … [Read more...] about How much do workforce skills matter for innovation in the Caribbean?
Suriname’s Debt Surge: What’s Driving It?
The debt to GDP ratio in Suriname increased by 35.6 percentage points in 3 years, moving from 29% of its GDP in 2014 to 64.6% in 2016. It’s the largest increase in a debt ratio recorded in Latin America and the Caribbean (LAC) over the period. Trinidad and Tobago, Belize and Brazil were the only other countries that experienced double digit increases over the same … [Read more...] about Suriname’s Debt Surge: What’s Driving It?
Fall from Grace: How Suriname’s Macroeconomic Fundamentals Have Changed After The “Perfect Economic Storm”
Suriname experienced a triple commodity shock in 2015. The price of gold declined by 30 percent relative to 2012, oil prices declined by 56 percent relative to 2012 and alumina production came to a halt (Figure 1). With these three commodities being the mainstay of Suriname’s economy, it was like a “perfect storm”. The result was a sharp drop in economic growth and rapid … [Read more...] about Fall from Grace: How Suriname’s Macroeconomic Fundamentals Have Changed After The “Perfect Economic Storm”
Are Employers in Trinidad and Tobago just ‘whining’, or is the ‘skills’ problem real?
Education and training are important determinants of firm performance. Through a well-educated and trained workforce, firms have better access to information, expertise, and knowledge which can enhance their productivity and competitiveness. Firms with more educated owners or entrepreneurs also tend to perform better in terms of sales and profits and are more likely to have … [Read more...] about Are Employers in Trinidad and Tobago just ‘whining’, or is the ‘skills’ problem real?