Handbook of Caribbean Economies

Description

This volume aims to illustrate the uniqueness of the economies of the countries and territories of the Caribbean as well as the similarities they share with other regions. While most countries in the region share many of the characteristics of middle-income countries, theirs is a matter of extremes. Their generally small size suggests a fragility not found elsewhere. While much of the world is beginning to feel some effects of climate change, the Caribbean is ground zero. These factors suggest a difficult road ahead, but the chapters presented in this volume aim to help to spur the search for creative solutions to the region’s problems. The chapters, written by expert contributors, examine the Caribbean economies from several perspectives. Many break new ground in questioning past policy mindsets, while developing new approaches to many of the traditional constraints limiting growth in the region. The volume is organized in four sections. Part I examines commonalities, including issues surrounding small economies, tourism, climate change and energy security. Part II looks at obstacles to sustained progress, for example debt, natural disasters and crime. In Part III chapters consider the specific role of external influences, including the USA and the European Union, the People's Republic of China, as well as regional co-operation. The volume concludes in Part IV with country case studies intended to provide a sense of the diversity that runs through the region. Cover Endorsements Half Title Title Page Copyright page Dedication Contents List of figures List of tables List of boxes List of contributors Preface Foreword by Sir Ronald Sanders 1. Introduction PART I: Commonalities 2. An alternative policy approach to growth and stabilization in small open economies 3. Impact of climate change on Caribbean economies 4. Caribbean energy security: Regional profile and challenges to integration 5. The Caribbean holds its own in global tourism competition PART II: Obstacles to sustained progress 6. CARICOM and that vexing issue of size and viability 7. Debt and fiscal constraints 8. Crime, violence and drugs in the Caribbean 9. It's complicated: The Caribbean’s relationship to white-collar crime 10. Caribbean natural disasters and country/regional responses PART III: External influences 11. Why and how to use fiscal policy to target the exchange rate 12. Venezuela: The descent into a ‘soft state’ 13. The external economic relations of the Caribbean: A comparison between the USA and the European Union 14. China's increasing influence in Central America and the Caribbean 15. Regional cooperation in Latin America and the Caribbean: New challenges and agendas PART IV: Country case studies 16. The Puerto Rican economy 17. Haiti 18. The Cuban economy: Socialist stagnation with Caribbean characteristics 19. Trinidad and Tobago 20. Belize 21. Guyana and the advent of world-class petroleum finds 22. Development and underperformance in the Barbados economy, 1946–2018 23. Suriname 24. The Bahamas: Facing a period of climate change and slow growth 25. The Cayman Islands 26. Guadeloupe and Martinique in the Caribbean Basin: A comparative analysis of models and trajectories 27. The Dominican Republic 28. The Jamaican economy: A Caribbean success story at last? 29. The Dutch Caribbean 30. Epilogue Index