Economic diversification in Trinidad and Tobago is imperative, although diversification away from the energy sector has largely failed. A country with a perfectly diversified export portfolio will have an index close to 0 (most diversified), whereas a country that exports only one product or to one country will have a value of 1 (least diversified). In Trinidad and Tobago, … [Read more...] about Why we need Economic Diversification in Trinidad and Tobago
Montego Bay, Jamaica – Photo by Ramon Zamora Did you know that the Caribbean is a place where 70 percent of those who fish or work on the waters do not even know how to swim? In fact, some in the Caribbean see the Sea as more foe than friend. Over the past few years, the term “Blue Economy” has gained traction. For some, it refers to any economic activity in the maritime … [Read more...] about How the Caribbean Sea Can Help Improve Lives Financially
In identifying binding constraints to growth of developing member countries, ADB and other multilateral development banks have adopted the Hausmann-Rodrick-Velasco methodology. In principle the methodology is relatively straightforward: by looking at all the possible constraints to private investment—the main driver of economic growth in a given country–in comparison to its … [Read more...] about Rethinking the growth diagnostics framework
https://youtu.be/fQBSE12KzzI I made my first trip to Haiti in mid-2009, when my curiosity led me to visit a nonprofit organization I had read about in a book. I was so impressed by their work that I opted to join in and teach English to a classroom full of young boys and girls and I fell in love with their beautiful smiles. A year later, I returned, but this time I … [Read more...] about Can a Red T-shirt Really Save a Life?
By: Kimberly Waithe Loans from commercial banks in Barbados stand at one of its lowest levels since the early 1990s. In fact, commercial bank credit has been sluggish since 2009, averaging around 0.6% annually over the past five years with recent figures showing a decline by -1.1%. This outturn represents a significant reversal considering that during 2004 to 2008 due to a … [Read more...] about What’s happening with loan growth in Barbados?