Economic Policies in Small Open Economies: Prospects for the Caribbean
Synopsis
This study deals with some of the major issued discussed at a symposium entitled “Small States: Problems and Opportunities in a World of Rapid Change”, which was held in March 1991 in St Kitts and Nevis. The symposium focused on the special problems confronting the management and development of small states’ economies.
The study, prepared by Delisle Worrell, Deputy Governor of the Central Bank of Barbados, argues that the economic adjustment strategies adopted by many Caribbean economies in the 1980s were in appropriate in trying to restore external balance and raise economic output. The analysis pays particular attention to the economic adjustment strategies of Barbados, the Dominican Republic, Guyana, Jamaica and Trinidad and Tobago. To improve the performance of Caribbean economies, the author calls for a better mix of stabilisation policies with a deliberate export promotion strategy.
Chapters
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Foreword
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Preface
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A Summary of the Argument
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Economic Characteristics of the Caribbean
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Fiscal and Monetary Policies
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Exchange Rate Issues
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Investment Policy
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Market Structure and Regulation
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The Caribbean in the World Economy
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Forecasts of Caribbean Economic Performance
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Conclusion
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Appendices
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References and Index
