Many people in the Caribbean feel that times have become more difficult. The data actually corroborates the perception. An important problem is the weak growth performance since the world financial crisis. While other countries and regions have been recovering, most countries in CCB are today poorer than they were in 2007 as shown in Figure 1, which presents GDP per capita in … [Read more...] about Development Challenges: Is the Caribbean losing out?
Economy & Investment
Technology on the beach
The Caribbean’s leading technology and innovation summit is on in Montego Bay this weekend. Tech Beach Retreat is flipping the stereotype of sun, sea and sand literally on its head, bringing some of the best minds in global innovation together for a weekend of collaboration and networking. But it’s more than a talk shop and drinks on the beach, the level of discourse aims to … [Read more...] about Technology on the beach
Artificial Intelligence and the Caribbean
We are living through the Fourth Industrial Revolution. It is driven by technological advancements that have the potential to foster innovative growth and benefit development at an unprecedented rate and scope. These technologies include Artificial Intelligence (AI), the Internet of Things (IoT), robotics, big data, and 3D printing. Let us focus on AI. As defined by the … [Read more...] about Artificial Intelligence and the Caribbean
Three key lessons on institutions in Barbados from IDB’s “Nurturing Institutions for a Resilient Caribbean”
The IDB’s Caribbean Country Department recently published a book entitled, “Nurturing Institutions for a Resilient Caribbean.” While exploring the general importance of institutions for growth and equitable development, the book also includes country-specific chapters that provide a detailed overview for six Caribbean countries and indicate areas that would benefit from reforms … [Read more...] about Three key lessons on institutions in Barbados from IDB’s “Nurturing Institutions for a Resilient Caribbean”
An imperfect measure with major implications
Gross Domestic Product (GDP) is a widespread measure of economic performance that captures the value of all goods and services produced in a country during a specific period of time (e.g. one year). Yet, there are two key challenges when estimating GDP: i) How to capture the whole economy; ii) how to estimate the value added of all goods and services produced. Given that GDP is … [Read more...] about An imperfect measure with major implications