Economics

June, 2011
CaPRI
Thematic Area: 

The continued use of government revenues to sustain public sector deficits has been highlighted as a major structural weakness by the International Monetary Fund (IMF), which has called for Public Sector Reform (PSR). This paper looks at success factors for PSR in Jamaica.

June, 2011
CaPRI
Thematic Area: 

An overhaul of Jamaica’s tax system is long overdue, but maximizing the effectiveness of the reform process requires a clear sense of priority. This brief highlights the most pressing tax reform measures for improving the Jamaican economy. 

With the advent of the World Trade Organization (WTO), the EU and the Caribbean were forced to negotiate a more liberal Economic Partnership Agreement (EPA) in 2008 and renounce many of their preferential trade relationships. This research examines the impact of the EPA on Caribbean states, showing it to be modest.

Fiscal sustainability was finally breached during the 2009 fiscal year when interest payments reached an unprecedented 66 percent of revenues. This crisis precipitated the Jamaica Debt Exchange (JDX) in February 2010 which appears to have been well designed and executed.

October, 2009
CaPRI
Thematic Area: 

The country faces significant gaps in its external and fiscal accounts. With limited credit options given the current international economic environment, economic restructuring is imperative to sustainable recovery. This paper shows recourse to the IMF offers a viable solution.

 

An assessment of the trading relationships between Latin American and Caribbean (LAC) countries and the economic potential to be derived from trade between the LAC region and other emerging economies.

September, 2009
CaPRI
Thematic Area: 

As we approach the end of 2009, in the aftermath of the global financial crisis, the global economy appears to be stabilizing. This brief weighs the options for the country’s next steps: reduction of public deficit or pursuit of a fiscal stimulus strategy.

Whenever the value of the Jamaican dollar depreciates there is public debate as to whether the country should change its currency regime to some form of fixed rate or dollarization. This study examines the exchange rate options for Jamaica.

December, 2008
CaPRI
Thematic Area: 

Recent work emphasizes the primacy of differences in countries’ colonially-bequeathed property rights and legal systems for explaining differences in their subsequent economic development. Barbados and Jamaica provide a striking counter example to this long-run view of income determination

December, 2008
CaPRI
Thematic Area: 

Social partnerships have emerged as a means for countries to cope with harsh economic circumstances. In this paper, we survey the experiences of other countries and conduct one-on-one consultations with Jamaican stakeholders to ascertain the prospects for successful social partnerships.

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