Synopses & Reviews
This is an especially impressive study, one really without equal in terms of its coverage and sophistication. . . . While the analysis is predominately neoclassical, it is sensibly and sensitively done, and there is much to be learned from these pages on the immense difficulties involved in designing and implementing appropriate small-state economic policy. The tug of economic reality facing small economies in an open-world economy make the push coming from internal interests a real balancing act, as Worrell appreciates. There are other points one might have liked Worrell to have touched upon, but this work is really in a class by itself; there is no other general economic study of the region that is even remotely comparable.
ChoiceDr. Worrell has been Director of Economic Research at the Central Bank of Barbados for over ten years. During this time he has observed firsthand the economic fluctuations in the Caribbean, advised the Barbados Government on policy, and written about the issues. Small Island EconomieS≪/i> offers the author's reflections on the English-speaking Caribbean's economic performance during the last fifteen years. This insightful volume will be of use to specialists of developing and comparative economies and third world scholars, as well as those concerned with present-day international relationships.
Synopsis
Dr. Worrell has been Director of Economic Research at the Central Bank of Barbados for over ten years. During this time he has observed firsthand the economic fluctuations in the Caribbean, advised the Barbados Government on policy, and written about the issues. Small Island Economies offers the author's reflections on the English-speaking Caribbean's economic performance during the last fifteen years. This insightful volume will be of use to specialists of developing and comparative economies and third world scholars, as well as those concerned with present-day international relationships.
About the Author
DELISLE WORRELL is currently Director of Research and Information, Central Bank of Barbados.
Table of Contents
Economic Performance and Structure in the Caribbean
The Caribbean: The World Environment after 1970
Growth and Stabilization in Barbados
The Impoverishment of Guyana
Economic Decline in Jamaica, 1970-84
Trinidad and Tobago: Consequences of the Oil Boom
The Microstates: Adjustment without Policy Intervention
Economic Integration, Growth and Stabilization
Adjustment Policies in Small Open Economies: Lessons from the Caribbean Experience
Appendix A: Analysis of Domestic and External Effects on the Balance of Payments
Appendix B: Model for Economic Forecasting in the Caribbean (with Carlos Holder)
Appendix C: Fiscal, Monetary and Exchange Rate Policies in the Caribbean
Appendix D: External Debt and Debt Service in the Caribbean
Appendix E: Protection, Incentives and the Growth of Caribbean Manufacturing
Appendix F: A Methodology for Simulating the Effects of External Shocks
References
Index