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The study on Business Opportunities for DR Firms in CARICOM was commissioned by Caribbean Export Development Agency (CEDA) in the framework of the Regional Private Sector Development Programme’s (RPSDP) implementation under the 11th European Development Fund (EDF), entrusted to CEDA by the CARIFORUM Directorate and the European Union.
This study is intended to match a similar study identifying Business Opportunities for CARICOM Firms in the Dominican Republic, completed in 2015.
Among the main objectives of the RPSDP is the promotion of trade and export development among CARIFORUM States. In addition, under the Component “Promoting stronger trade and investment cooperation between CARICOM and the Dominican Republic”, CEDA will support activities which can boost stronger trade cooperation among CARICOM and DR firms.
The scope of this study was to undertake a market intelligence desk analysis focused on goods and services trade flows with a view to identifying and mapping products and services business opportunities, as well as potential distributors and/or business partners and specific marketentry constraints limiting the increase of DR’s market share in CARICOM countries.
Fair trade and organic cocoa, chocolate and bananas products all of which can be produced along the border between the Dominican Republic and Haiti have correspondingly experienced rapid global growth. With overweight and diabetes becoming a growing worldwide problem interest in the quality and nutritional value of food will continue to grow. Environmental pollution and food borne diseases will further encourage demand for organic foods of all kinds. Furthermore as global tourism travel and labour migration accelerate so the demand for ethnic and geographic foods grows. It is for this reason that speciality foods particularly those based on cocoa and banana were the focus of this value value chain study which focused on projects along the border area between Haiti and the Dominican Republic.
Belize is a small, open economy. As such, its economic performance is highly correlated with what happens to exports of goods and services. When these perform well, the Gross Domestic Product (GDP) grows at a fast rate. When exports perform poorly, GDP does the same. This correlation between export growth and GDP growth has been demonstrated on numerous occasions, including in a recent report by the author that looked at the role regional integration could play in enhancing Belizean export performance.
This is a follow-up to that report looking in more detail at the role integration can play in relation to Belize’s two territorial neighbours: Guatemala and Mexico. Belize is now on a long-run growth path of GDP that is too low (see next section). If Belize wants to achieve a higher sustainable long-run rate of growth, it needs to export more goods and services. There is no other way that is sustainable, since all other growth strategies will lead to balance of payments difficulties in a short period of time.
There are no simple solutions for achieving a higher rate of growth of exports since the obstacles are numerous and complex. Yet there is much that can be done since Belize suffers from an unintentional antiexport bias as a result of the way the financial and tax systems as well as trade and educational policies operate.2 Indeed, so strong is this bias that it gives an unfair advantage to foreign companies that do not face the same cost of capital and often receive tax advantages not available to domestic firms.
This report does not seek to address all the obstacles that Belizean exporters face. Instead, it looks at trade with the two countries with which Belize shares a territorial border. The reason is simple. Countries tend to do more trade with their neighbours, ceteris paribus, than with other countries. Yet when we examine Belizean trade with these two countries, domestic exports are very small.
Belize is geographically close to Central America and Mexico and shares a common language with most CARICOM countries. Indeed, given the widespread use of Spanish in Belize, it could be argued that Belize shares a common language with Central America and Mexico as well. It might therefore be expected that Belize would have strong export ties with its neighbours. Yet, it does not. And as a result of the weakness of the export links, the virtuous circle is lacking. The infrastructure links with the neighbours are poor, service exports are very limited and functional cooperation is not as great as it could or should be. There are historical and political reasons for this state of affairs. These obstacles should not be exaggerated, however, and there is scope for improvement. With luck, this will lead not just to a realignment of exports from more distant markets to closer ones, but also to an increase in overall exports with a rise in the ratio of exports of goods and services to GDP. This in turn will ease the pressure on Belize’s balance of payments.
This study is part of a series of actions promoted by the Inter-American Development Bank (IDB) in the area of freight logistics in Central America, Belize, and the Dominican Republic. It encompasses a preliminary analysis of trucking, which will be updated as the data collection process proceeds.
International freight transport within Central America faces two complex challenges: distances are short and cargo volumes are small to consolidate a dense network of short sea shipping. But the territory is extensive and the road network is not developed enough to efficiently serve the freight market. Furthermore, no transnational railroad network exists. This context gives trucking a key role in international transport.
The importance of trucking in freight transport in the countries studied makes it necessary to identify the areas that require decisive public policy to improve its performance.
Services for Trade Competitiveness: Country and Regional Assessments of Services Trade presents select case studies on the role of services for trade. The book shows the types of barriers that affect services trade, their potential impact, the role of services determinants, including regulations, the role of services linkages for other economic activities, and policy choices to foster the role of services in developing economies. This volume presents selected applications of the methodologies developed by the TRI Unit in order to showcase how other countries could adopt these new methodologies to assess the competitiveness of their services sector, understand the types of barriers to services, and learn from the resulting policy implications. The chapters are based on new diagnostics tool for assessing services and services trade developed by the TRI Unit in 2012–15. Although these assessments were produced several years ago, their novel methodologies, findings, and policy implications remain valid today.
The book builds on the World Bank’s extensive applied research on services trade policy and performance. The Trade and Regional Integration (TRI) Unit at the macroeconomics, Trade and Investment Global Practice has developed several analytical tools to help countries map their relative position in the global competitiveness space and to support informed policy decisions to seize the benefits and opportunities provided by services trade. The case studies included in the book cover low- and middle-income countries using a range of methodologies and datasets. The book illustrates how new methodologies developed by the World Bank can help policy makers, academics, and experts to assess the competitiveness of the services sector. It helps to answer pressing questions on services competitiveness, on trade diversification, how to create a more conducive regulatory environment to promote service sectors, and how to support countries’ participation in trade agreements.
Despite, the high openness to trade of Caribbean economies, the Caribbean’s share in global trade has fallen. The rapidly changing environment for Caribbean exports present both opportunities and challenges for economies highly dependent on external markets. The report examines the potential benefits on the welfare of the Caribbean of redefining the relations with the Caribbean’s main trading partners, of reaching out to new growth poles and of redesigning regional preferential trade agreements. Using a gravity model, the report benchmarks how economies in the region have performed and calculates areas of revealed comparative advantage. It examines the roles that labor productivity, the business environment and the investment climate have had in shaping the pattern of trade, and concludes with a set of policy recommendations.
The study provides regional analysis, country and sector fact sheets to assess the existing export potential and diversification opportunities of 64 developing countries in European, emerging and regional markets. ITC has applied and customized its methodology to support the Centre for the Promotion of Imports from developing countries (CBI) in its selection of value chains with the aim of achieving better targeted and more effective interventions.
Although there has been much to boast about in advanced countries regarding e-commerce as a viable business strategy, many doubt its application to developing countries. Several papers examine individual case studies from advanced developing countries but few have presented a systemic focus on the ecosystem of an e-commerce sector, and even fewer on small island developing states (SIDS) such as the Caribbean, and those often lack a comprehensive awareness of the sector, and/or are dated. The central aim of this conceptual paper therefore is to address this lacuna by discussing the importance of understanding the broader political, social, cognitive, and economic issues and their implications and applications inherent in the development of an e-commerce sector. From this, the main objective will be to conceptualize an e-commerce strategy for their development. To realize this main aim, the article leverages a historical comparative perspective that critically examines causal analysis, experiences, and iterative processes gleaned over time from a structured analytical comparison of several national and regional case studies to conceptualize the factors and conditions under which e-commerce may contribute to, and can be adopted for development. As its main objective, the paper then presents a policy framework of recommendations guided by mutually reinforcing macro processes of change that converge at the intersection of business, policy, and information technology to inform development advocates, policy planners, and citizens within the region of what such a strategy should entail.
The purpose of this publication is to provide up-to-date information on the legal framework of Caribbean countries following the Regional Workshop on E-Commerce Legislation Harmonization in the Caribbean held from 29 September to 2 October 2015 in Port of Spain, Trinidad and Tobago. The workshop was sponsored by the Government of the Republic of Trinidad and Tobago, SELA, ACS and the Government of Finland. This study reports on progress made by the countries in regard to electronic transactions/electronic signatures, online protection of consumers, protection of personal data, industrial and intellectual property, domain names, cybercrime, security of information and pending legislation and challenges.
This paper presents a brief review of the green bond market, analyzing some of the issues inhibiting its development, and keeping on to explore how the market can be enhanced. In particular, the paper explores two key dimensions: i) the risk profile of the green bond instrument; and ii) the transaction costs associated to green bond issuance and reporting.
The paper comprises four sections: (a) Blue Economy; (b) measuring the Blue Economy; (c) case study of Jamaica; and (d) way forward. The first section establishes key Blue Economy indicators and highlights the traditional Blue Economy industries in the Caribbean Region. The second section outlines the theory behind measuring Blue Economy activities and explains methodology used in the paper. The third section, case study of Jamaica, applies the measurement techniques from the second section, utilising data from Jamaica’s SNA and estimates the potential intermediate and final demand from increased Blue Economy investments. The conclusion provides a synopsis of the activities required to provide for better measurement of Blue Economy and its contribution to national output.
This policy brief discusses strategic imperatives to build “360 resilience” in Caribbean countries. In this regard, it calls for a change of course in the region’s development trajectory and puts forward strategies to build resilience on several fronts: economic, fiscal, technological, social, environmental, and governance and institutional. Specifically, it argues for the following: (i) unlocking the economic potential of the Blue, the Green, and the Orange Economy; (ii) modernizing agricultural production and practices; (iii) strengthening fiscal governance; (iv) expanding the use of digital technologies; (v) building human and social capital; (vi) protecting environmental assets and reducing hazard and climate risks; and (vii) developing new governance and institutional models.
This report on the State of Agriculture in the Caribbean supports the development of a new CDB Agricultural Policy and Strategy Paper (APSP), by identifying key trends in agriculture in BMCs, and the related opportunities for investments to promote growth, reduce poverty, and ensure sustainability.
This report is an early step toward answering the investment promotion questions, as is “Mapping Investment Promotion Agencies in OECD Countries” (OECD, 2018) . It presents rich new information on the organization, activities, and operative practices of IPAs in 51 countries, comprising 32 OECD countries and 19 Latin American and the Caribbean (LAC) countries (outside of the OECD area), providing a thorough understanding of who agencies are, what they do, and how they do it. The main aim is to provide IPA experts and their governments with an overview of the current status of investment promotion in different countries, in particular through a cross-regional perspective, and support reflection on their future strategic orientations. It is also hoped that it will become a building block for further research in the area of investment promotion, including proper impact evaluations.
Crowdfunding’s Potential in the Caribbean: A Preliminary Assessment, was commissioned by infoDev, a global technology and innovation program at the World Bank Group. This is the second in a series of studies published by infoDev on the topic, the first being Crowdfunding’s Potential for the Developing World (infoDev 2013). Since it is the first study to focus on developing crowdfunding in the Caribbean, it provides a preliminary assessment with the objective of disseminating information that can be utilized by the many different actors in the Caribbean entrepreneurial ecosystem. The intended audience for this introductory paper includes key Caribbean stakeholders concerned with access to finance, specifically: the private sector, the business enabler community, governments and regulatory bodies, and international financial institutions.
The purpose of this study is to analyse the Caribbean regional integration process, to help identify options for moving it forward. This in turn will help to inform future strategic engagement by different stakeholders with a view to facilitating and assisting in the development of the regional integration agenda, by:
1. Identifying the key issues, areas and actors within the regional integration process on which stakeholders can focus to drive real change; and
2. Identifying and assessing if (and how) various stakeholders (such as development partners, regional institutions, the private sector and civil society) can effectively support the regional integration process.
Despite having relatively open economies and a dedicated strategic focus on export expansion, Caribbean economies still account for a small proportion of global trade (goods and services). Indeed, the continued failure of the institutional machinery of the Caribbean and the mechanics of the Single Market to deliver the competitiveness, productivity, trade and welfare gains upon which it was premised, has limited the region in its development efforts. This, not surprisingly, has increasingly brought the relevance and validity of the current regional integration initiative into question. In addition, the subregion’s bilateral Free Trade Agreements (FTAs) have not yielded the intended broad-based expansion in exports, with utilization rates among many CARICOM countries being relatively small.
The CARIFORUM-EU Economic Partnership Agreement, which came into force at the end of 2008, sought to address the absence of trade-led growth within the subregion by leveraging development support and market access towards deepening subregional integration as well as enhancing supply side capacity, competitiveness in CARIFORUM. However, the agreement has not yet succeeded in improving intra-regional trade or subregional integration. More specifically, empirical analyses have unmasked a clear disparity between the competitiveness of the Dominican Republic and other Caribbean commodity exports in the EU market. Hence it may be necessary for the subregion to examine alternative platforms for delivering convergence.
It would appear that domestic production systems within the subregion have not been transformed to optimize resource allocation and facilitate exploitation of strategic extra-regional niche markets, where preferential access is on offer. What is equally crucial is that the subregion generally has relatively low trade complementarity with the EU and North America, its major export markets. This notwithstanding, the Caribbean has relatively higher and increasing complementarity with the Central American Integration System (SICA) and Asia, suggesting that these economies may be the subregion’s natural trading partners.
This paper therefore posits that the subregion adopt a new dais of regional integration, which favours deeper trade and economic integration with countries which are the region’s natural trading partners. This would, however, necessitate greater intervention by regional governments and the private sector in the production of regional public goods that are crucial for structural transformation towards the sustainable development of the subregion. Under such conditions, the nexus of Regional Trade Agreements (RTAs), FTAs and regional integration frameworks advanced here can be expected to be net trade creating, efficiency enhancing and welfare gains optimizing.
Measuring Music is an annual report by UK Music to assess the impact of British music on the economy. This, the second year of publication, is a groundbreaking report which analyses the contribution of music in 2013.
We use bespoke methodology and questionnaires to help overcome certain failures in the way the national accounts capture economic data for our sector.
Over time, the annual Measuring Music report will be an established bible on the economic strengths of the sector and its key component parts in any given year.
UK Music’s second annual economic study measures the contribution music makes to UK plc. To produce this report, we were entrusted with data on the performance of record labels, music publishers, the live industry, producers, managers, recording studios as well as musicians, singers, songwriters, composers and lyricists.
ITC is introducing a suite of targeted new initiatives to build developing country export competitiveness in services. The distinctive ITC priority focus is to bring world-class services expertise to the task of building services enterprise competitiveness and concrete export outcomes in ITC beneficiary countries. The initiatives will follow up and reinvigorate the previous ITC programme on Trade in Services and its associated stakeholder contacts. Consistent with the ITC Strategic Plan, the programme’s objectives are: 1) Produce and improve access to, and use of, reliable and user-friendly services-related trade intelligence, building awareness around the importance of services as a potential export driver for developing countries, including LDCs; 2) Build and strengthen trade support institutional capacity to foster an enabling business environment, to benchmark regulatory practices and to promote services exports; 3) Enhance the export readiness of services SMEs in responding to market opportunities, including in global and regional value chains; and 4) Achieve, as a cross-cutting objective, a higher level of sustainable and inclusive participation in the regional and international services economy.
The Global Review of Aid for Trade is a biennial event that examines Aid-for-Trade actions in development countries. With its theme “Connecting to Value Chains”, the 4th Global Review discussed the implications of global value chains from a trade and development perspective – and debated how Aid for Trade can help developing countries, and in particular Least Developed Countries, overcome the barriers they face in connecting, adding value and establishing value chains. Debate was informed by a series of publications that discussed the results of a global extensive monitoring and evaluation exercise, notably the flagship joint OECD-WTO publication “Aid for Trade at a Glance: Connecting to Value Chains”.
This publication brings together summary reports of the Plenary Sessions and Side Events held during the 4th Global Review event. The summary reports of the Plenary Sessions were prepared by the WTO Secretariat. Summary reports of the Side Events were prepared by Side Event organizers and the WTO Secretariat. To find out more visit: http://www.wto.org/english/tratop_e/devel_e/a4t_e/global_review13_e.htm
Doing Business uses a different approach to measuring the quality of regulation. It focuses on whether an economy has in place the rules and processes that can lead to good outcomes, linked in each case to Doing Business measures of efficiency. In the area of dealing with construction permits, for example, Doing Business now measures the quality of building regulations and the qualification requirements for the people reviewing building plans as well as the efficiency (as measured by time and cost) of the process for completing all the formalities to build a warehouse. Doing Business does not assess the process for designing building regulations; instead, it gauges whether an economy has the kind of building regulations and quality controls that enable well-constructed buildings.
Doing Business continues to focus on regulation that affects domestic small and medium-size enterprises, operating in the largest business city of an economy, across 11 areas.1 Ten of these areas—starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency—are included in the distance to frontier score and ease of doing business ranking. The distance to frontier score captures the gap between an economy’s performance and a measure of best practice across the entire sample of 36 indicators, where 100 is the frontier and 0 is the furthest from the frontier. Doing Business also analyzes labor market regulation, which is not included in the distance to frontier score or ease of doing business ranking.
This report provides an overview on The bahamas's openness to and restrictions upon foreign investments. Looks at conversion and transfer policies, dispute settlements, protection of property rights, and transparency of the regulatory system etc.
The EU Common Agricultural Policy (CAP) will be reformed for the period 2014–2020. As policy coherence for development is a guiding principle for EU policies, one of the touchstones of the CAP reform is whether it is in line with the objectives of development cooperation. The Dutch Government also highlights the importance of taking policy coherence with development objectives into consideration during the CAP reform process.
This report contains an analysis of the potential environmental impacts of the proposed CAP reform in developing countries and of the opportunities for a CAP reform that is more coherent with sustainable agricultural production in developing countries. The assessment is based on a literature review, results of agro-economicenvironmental modelling and on interviews with experts in European agriculture, environment and development.
This market survey provides exporters of spices and herbs in developing countries with a wide range of facts, figures and information with respect to the European Union (EU) market. The emphasis of this survey lies on those products which are of importance to DC suppliers. Besides, where relevant and if information is available, this study focuses on organic spices and herbs on the EU market. The spices and herbs market in individual EU countries is discussed further in separate CBI market surveys, which can be downloaded from http://www.cbi.eu/marketinfo.
The original Handbook, published 10 years ago, provided a clear overview of the requirements of the GATS as it relates to the legal services sector. But times have moved on and there are new developments to be considered, including a rise in interest in bilateral and regional trade agreements (see the new section (XIII).
The IBA continues to urge its member bar associations to become involved in national discussions and negotiations that take place concerning the GATS, and many bars will have seen the significant impact of the implementation of GATS in their jurisdiction. The Bar Issues Commission’s specialist ‘International Trade in Legal Services’ Committee also continues its work on resolutions and guidelines that support the legal sector in this area.
Please note that Sections X-XIII of the Handbook have entirely new content. The topics covered by these newly-rewritten sections include the following:
• GATS Implementation Efforts – GATS Track #1 and the Doha Round’s Progressive Liberalization Negotiations
• GATS Implementation Efforts – GATS Track #2 and the Negotiations to Develop Disciplines on Domestic Regulation
• GATS Implementation Efforts - The Role of the IBA
• Other Developments of Interest (including the proliferation of bilateral and regional trade agreements)
This publication provides information on doing business with the Dominican Republic.
This publication provides information on doing business with Belize.
This publication provides information on doing business with Barbados.
This publication provides information on doing business with Suriname.
According to the World Bank’s Doing Business report, most Caribbean countries have made starting a business much easier in recent years. This is the result of changes in regulations and in the implementation of new reforms for business registration over time. However, despite reducing the time and cost needed to register a company, the international ranking of most Caribbean countries fell, as other countries made registering even easier. Nevertheless, registering a company has become easy enough that further reforms to shorten the time or reduce costs are not crucial. Given the past progress, it is preferable to study the registration process and the quality of the business registry to assess whether further simplification is warranted, or the quality of the business registration should be improved.
Private or nonprofit digital skills training programs, referred to as coding bootcamps, have emerged to address severe shortage of talent in the area of digital skills. Bootcamps are not perfect; they do not represent the magic bullet that will contrive such skills out of thin air, nor should they be touted as such. Nevertheless, they are creating alternative educational pathways in economies affected by the extraordinary challenges brought about by the digital revolution. Evidence indicates that bootcamp graduates are eagerly welcomed by top companies all around the world in their desperate need for human capital with programming skills and dexterity for such areas as artificial intelligence (AI) and data analysis.
This report maps this new breed of provider of digital skills training around the world as well as in Latin America, highlighting the trends and lessons learned where possible. The analysis in this paper does not constitute an assessment of the effectiveness of bootcamps involving an experimental or quasi-experimental evaluation. Rather, it endeavors to document and verify the extraordinary claims of bootcamps regarding their outputs in terms of the acquisition of skills and the employability of their graduates. Hence, it examines the issue of results by using all the information that has been gathered.
The coding bootcamp industry is nascent, having emerged less than 10 years ago with a handful of providers in the United States. It is now a burgeoning industry that has grown remarkably fast and spans across the world. Bootcamps appear rather effective at identifying the needs of industries, swiftly tailoring their instruction to meet the latest industry trends. They deliver highly sophisticated, albeit significantly practical, skills in a short period of time at a relatively low cost. There is variation in the quality of coding bootcamp programs, but almost as quickly as the industry has emerged, entities have established themselves to assist prospective students by providing rankings and certain standards from which to judge the cost-benefit of enrolling in a coding school. Bootcamps are increasingly rigorous about their admission process, which often includes two separate interviews that establish an applicant’s potential technical capabilities and her/his soft skills.
Gender equality is a critical component of economic growth. Women are half of the world’s population and we have our role to play in creating a more prosperous world. But we won’t succeed in playing it if the laws are holding us back.
To develop a better understanding of how women’s employment and entrepreneurship are affected by legal discrimination, Women, Business and the Law 2019: A Decade of Reform examines ten years of data through an index structured around the economic decisions women make as they go through their working lives. From a 25-year-old getting her first job or a mother balancing work with caring for her children, to a woman on the brink of retirement, the index explores how the economic decisions women make are affected by the law.
2014 Caribbean Economic Review provides information on the Caribbean Development Bank’s preliminary estimate of growth in real Gross Domestic Product (GDP) for the Region in 2014 and provides an outlook for 2015.
The 2019 Annual Report begins with a message from the WTO Director-General and an overview of the past year. This is followed by more in-depth accounts of the WTO’s areas of activity over the past 12 months.
This study analyzes the patterns of development in the Caribbean and gives particular focus to the challenges to and opportunities for sustainable development. The study is divided into two parts. The first part of the study examines trajectories for development in the Caribbean, while the second addresses the relationship between competition and integration.
The significant development gains attained since independence have been threatened in the last decade. Slowing productivity growth, rising debt, increasing crime and social dislocation in recent years have adversely affected growth in per capita income and social welfare. The study therefore calls on policy makers to promote dynamic drivers of growth and development in the region. The key requirement in this regard, is the need to strengthen import productivity,2 or the efficiency with which the region uses foreign exchange. This can be done by producing and exporting more high-value services such as education and the output of the creative industries. The sub-region also needs to strengthen its systems of governance by providing more opportunities for citizens to participate in decision making.
In addition, the region needs to address the inherent relationship between competition and integration by developing improved systems to cushion the negative impacts on weaker members of the integration arrangement. These could include a more robust development fund and capacity building to enable losers to benefit from regional trade and investment. However, regional integration should provide a platform for moving up the value chain, through research and development and innovation to produce more competitive exports.
Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago plus the eight member states of the Eastern Caribbean Currency Union (ECCU) and the outlook for 2014 and 2015. Data were collected from a review of reports from national governments and through interviews with government officials in each of the countries analyzed. The main findings are that while the Caribbean still faces a number of fiscal challenges it is anticipated that the situation will improve with positive growth over the medium term. At the same time, unemployment rates, especially for the service-based economies, are relatively high and continue to increase slowly in some cases. The survey also finds that inflation rates are relatively low, which has a positive impact on fixed income earners. With respect to investment, the domestic private sector remains risk averse as credit to this sector been increasing slowly. At the same time, public sector credit has declined, in part due to a number of programmes aimed at constraining the public sector. Better economic performance is projected in 2014 and 2015, due to improved performance of the major export markets, the United States and Europe, and improved domestic investment. This is likely to increase employment and domestic demand, which have been depressed in the face of fiscal consolidation measures. It is also expected that inflows of both foreign direct investment (FDI) and remittances will increase due to anticipated better economic performance in the United States and Europe and that this will improve the current account balances.
Approaches to underdevelopment based on misallocation of resources have two premises. First, that there is huge heterogeneity in terms of underlying productivity among potential and actual entrepreneurs. Second, that the mechanisms that guide resource allocation do not necessarily result in the resources going to the most productive entrepreneurs. Using the Townsend Thai data and the Million Baht program studied by Kaboski and Townsend (2012), we show evidence for both these premises. First, using the fact that the Townsend Thai data include a long time series of pre-intervention information, we estimate TFP household by household. We then show that the effect of the Million Baht program, which was a source of additional short-term credit in the village, varies dramatically by pre-program TFP. There is no discernible effect in terms of income or business prots among low pre-program TFP households but the high TFP households show a large increase in prots (more than 1.5 THB increase in prots for 1 THB in loans). This effect doubles when we restrict to high TFP households that had a non-agricultural business before the intervention. On the other hand, program credit is not allocated based on baseline TFP. However market credit partly mitigates the disparity.
Chinese and Caribbean economic relations have deepened over the past decade and a half. The paper analyzes the impetus for China’s foreign economic policy to reach out to developing regions such as the Caribbean, as well as highlights recent trends in merchandise trade and foreign direct investments, in particular between the Caribbean and China. Furthermore it indicates areas of potential benefits and risks, identifies some of the implications of these new South-South cooperation ties, and concludes with recommendations based on game theory insights to further deepen and more fully assure mutual benefit from the relationship going forward.
“Intellectual property” (IP) is a term that refers to creations of the mind. Types of IP include a new machine an engineer develops to make construction easier, a new plant variety a farmer breeds, an original song your neighbour wrote, or the distinctive name you use to market your products/services. “Intellectual Property rights” (IPRs) are therefore the exclusive rights legally given to such creations of the mind and are similar to property rights in that they belong to the owner who has the exclusive rights to sell, import, license and use his property. The objectives of Chapter 2 of the CARIFORUM-European Union Economic Partnership Agreement (EPA) on Innovation and Intellectual Property is to foster innovation and creativity to achieve sustainable development, promote trade and ensure the integration of CARIFORUM States into the world economy. The EPA recognizes the importance of protection and enforcement of intellectual property to achieving this goal.
While CARIFORUM states have committed to the implementation of the provisions of the EPA IP Chapter by the year 2014 (with the exception of Haiti which has until the year 2021), several of the EPA IP provisions are worded as “best endeavours”, thereby giving CARIFORUM states the option to implement these provisions only if and when they are so prepared.
In the past couple of years, the role and importance of the private sector as an actor for sustainable development has been thoroughly discussed. CONCORD Sweden has identified the importance of an oversight of the role of the private sector in development cooperation. This mapping therefore outlines the role of the private sector for sustainable development in a number of processes and policies at the international and the European level, that are relevant to the work of CONCORD Sweden and its member organizations. The aim is to provide a better understanding of the current narrative on the role of private sector and allow for continued discussions and joint work on this matter. The mapping specifically looks into the following processes; the global aid and development effectiveness processes, the OECD-DAC process to ‘modernise’ the concept of ODA, the post-2015 sustainable development agenda and financing for development, as well as the private sector in EU development policy debates.
This paper was produced to feed into the UN Intergovernmental Committee of Experts on Sustainable Development Financing (ICESDF) Outreach Event on Co-creating New Partnerships for Financing Sustainable Development, in Helsinki, Finland, on 3-4 April 2014. The objective of the background study is to provide material to stimulate discussion on partnerships between public and private actors for achieving and financing sustainable post-2015 development. The study might further facilitate dialogue based on a common understanding of current public-private partnerships and policies as well as of the main challenges and opportunities in taking this agenda forward, and by that support concrete outcome-oriented discussions.
The Global Competitiveness Report 2014–2015 provides an overview of the competitiveness performance of 144 economies, and thus continues to be the most comprehensive assessment of its kind globally. It contains a detailed profile for each of the economies included in the study, as well as an extensive section of data tables with global rankings covering over 100 indicators. This Report is one of the flagship publications within the Forum’s Global Competitiveness and Benchmarking Network, which produces a number of related research studies aimed at supporting countries in their transformation efforts and raising awareness about the need to adopt holistic and integrated frameworks for understanding complex phenomena such as competitiveness or global risks.
The buildup of debt in Jamaica has been concurrent with the country’s slow economic growth, and the issues are intertwined. High debt slows economic growth, and slow economic growth makes the process of reducing the debt burden more difficult. Jamaica committed itself to a strict fiscal consolidation program to reduce its debt burden. The fiscal consolidation will be long— spanning more than half a generation—until reaching the debt-to-GDP target of 60 percent by 2026. Besides adhering to the fiscal targets, success will depend on the country’s ability to break away from a history of low economic growth.
The objective of this study is to increase the awareness of specialty food exporters of market opportunities through the analysis of the retail and food service sector across the selected CARIFORUM countries, through examination and analysis. The data captured demonstrates the price ranges from product, quality, packaging, examine consumer preferences on consistency of the product being supplied in the market personal flavor, taste and texture and from a production side the shelf life. This is coupled with pricing information at the wholesale and retail level, sales terms, competition in the market both domestic and internationally, and the future growth/opportunities of each segment.
The report highlights:
This export readiness and supply study of the agro processing industry in selected CARIFORUM countries was undertaken in order to determine the characteristics of the speciality food producers. The purpose of this study was to guide the design of and facilitate the operationalisation of teh most viable arrangement for providing Caribbean specialty food producers with access to in-market liaison services (e.g. freighting, warehousing, distribution, co-packing, in-market promotions, and market intelligence) in the US and EU markets.
The ‘market study of fine flavour cocoa’ was published in June 2013, commissioned by the Royal Tropical Institute (KIT) in collaboration with the Russian trading company Inforum. However, important comments were made after publishing that are worth being mentioned in the report. Therefore, this revised version has been written which is published in October 2013. Although this version can be considered as final, there is still a lot to learn about this topic. For KIT it is journey that we have just started. The fine flavour cocoa (FFC) market is a relatively new area of interest. The cocoa sector is in need of clear and accurate information about FFC since there is a lot of confusion about numerous aspects of FFC, as was learned during this research. However, it turned out to be quite difficult to get access to accurate information and consensus is lacking about definitions and numbers.
The ‘market study of fine flavour cocoa’ was conducted as a quick market scan, carried out in the short period of 5 weeks. The countries were chosen by the client (Inforum), and do not represent the fine flavour cocoa sector. (Joint) work is still on going to understand the FFC sector better. In the coming months, KIT will conduct new research regarding fine flavour chocolate and sustainability.
In international trade, edible nuts and dried fruits are often taken together. This product factsheet, therefore, covers general information regarding the market of edible nuts and dried fruits in Europe which is of interest to producers in developing countries.
This study examines the performance of Caribbean exporters under various trade integration initiatives after the West Indian Commission Report. This study, prepared by WTI Advisors (Geneva) for Caribbean Export, compares the 1992 vision of the West Indian Commission as regards export performance and the reality of trade flows from CARIFORUM countries1 to their respective FTA partners. This study provides a brief overview of some of the market opportunities in goods and services trade within the region’s various FTAs – including the intra-CARICOM CSME, DR-CAFTA2, CARICOM’s arrangements with its Spanish-speaking neighbours in the Caribbean Basin3 and the Economic Partnership Agreement (EPA) with the European Union – and contrasts these opportunities with the actual trade performance of CARIFORUM countries. Finally, the study outlines some of the key challenges faced by the private sector in taking advantage of the trade opportunities provided by these FTA instruments.
This 2014 edition of ICC’s flagship intellectual property publication “The ICC Intellectual Property Roadmap: Current and Emerging Issues for Business and Policymakers” has been restructured to better reflect the way businesses consider and deal with IP, that is, as an asset which can be used to create value for the company, for consumers and for society as a whole, and which has to be managed accordingly. An introductory chapter describing developments with an impact on IP protection is followed by chapters on creating value from IP, obtaining IP assets, enforcing IPR, and the interaction between IP and other policy areas. Each section explains the background and the current landscape as well as provides some perspectives for the future.
This study assesses both the level of implementation and the impact of the CF-EU EPA from 2008 to 2013. Under Article 5, CARIFORUM and the EU “undertake to monitor continuously the operation of the Agreement through their respective participative processes and institutions, as well as those set up under this Agreement, in order to ensure that the objectives of the Agreement are realised”. This commitment is further clarified under the Joint Declaration On the Signing of the Economic Partnership Agreement, which provides for “comprehensive review of the Agreement [to] be undertaken not later than five (5) years after the date of signature and at subsequent five-yearly intervals, in order to determine the impact of the Agreement, including the costs and consequences of implementation and we undertake to amend its provisions and adjust their application as necessary”.
Sustainable economic growth has reemerged as a subject of Caribbean policy discussions, given the region’s relatively lackluster performance in recent decades. However, most policy discussions still focus on the region’s fiscal and macroeconomic constraints instead of on the analysis of underlying productivity drivers. This is due in part to the persistence of fiscal and debt crises across the region since the 1980s, and inadequate data available to perform basic productivity analyses. This brief adapts a benchmarking framework originally developed by the Organization for Economic Co-operation and Development to identify constraints to growth and help policymakers prioritize actions to address them. It summarizes the original technical background work and presents the results of initial exercises, using this framework, for The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago.
A renewed interest in explaining growth in the Caribbean countries i smotivated by the somewhat slow but uneven performance in the past decade: per capita GDP gaps in Caribbean countries have widened in relation to the United States, whereas standard theories would predict convergence. This study (a) examines the question using methods developed in the recent growth literature on economic growth and (b) characterizes the main elements of growth by estimating empirical models. On the basis of time-series and comparative static estimations, the study finds that the combination of domestic policies, high indebtedness, and outside shocks (e.g. oil price changes or main trading partners' tourism demand) explain well the gap in growth of the six IDB member countries (The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago). Moreover, the study shows evidence that the member countries' small size and their synchronicity with the U.S. business cycle influenced growth performance. In general, the influence of good policies on growth is still evident from the analysis.
This paper explores the role of religion in mitigating the degree to which unemployment reduces subjective well-being and it examines its support of social programs. The paper goes beyond existing literature in three ways: It extends existing literature to Latin America and Caribbean countries; it explicitly includes analysis of two confounders (social capital and personal traits) ignored in existing literature; and it moves beyond correlation by using the propensity score method to tease out a causal relation between religion and well-being. We find that religion acts as a buffer: Unemployed religious people are relatively happier than are nonreligious unemployed people. However, in contrast with the existing literature, we find that religious people are relatively more supportive of public social policy.
Although small in terms of population, the Caribbean is renowned for its creativity. Its cultural diversity is manifested in a variety of artistic expressions including folklore, crafts, performances, music festivals, and carnivals. Despite the Caribbean’s great potential in the entertainment sector, important domestic challenges - emanating from both public and private sectors - have long impeded the successful growth of creative industries. The paper explains how the implementation of the Economic Partnership Agreement with the European Union should serve as an impetus for stakeholders in the region to address these barriers thereby creating favorable conditions for the production and export of Caribbean entertainment services.
This Study presents an overview of policies in the creative sector in terms of the promotion of services exports in selected CARICOM states: Barbados, Jamaica, and Trinidad and Tobago. This Technical Note highlights bottlenecks to implementation of recommendations proposed in existing analyses and diagnostics and suggests specific ways in which these can be overcome. It formulates concrete recommendations for relevant actors, including donors and domestic governments, to promote the development of the creative industries.
Regard this manual as your personal guide for the promotion of your website. It contains the most important theories, tips and tricks, and many other practical suggestions. Moreover, you will find a selection of websites on this topic and some possible criteria to assess and improve your own website are included. This manual has been compiled on the basis of literature and Internet research and our own knowledge and experience in the field. Furthermore, the experiences that were gained with workshops on website promotion in developing countries (DC) such as Colombia, Ecuador, Ethiopia, Philippines and Peru have contributed to this manual.
In Chapter 1 you will find information on the goals and target groups of a website, including some guidelines and research methods to define them in detail. This already determines the contents and the promotion process for the larger part. Before the website is promoted, it is important that it is optimised both technically and with regard to contents. Chapter 2 will give you an overview of the possibilities to assess and improve your own website. Chapter 3 describes in detail the various relevant promotion instruments which are available to you. Once the website has been submitted to search engines and directories, the process of checking and evaluating begins, which is the subject of Chapter 4. It enables you to analyse the origin of your visitors, how they access your website and what part of it is popular with them. It supplies you with valuable information which can be used to improve the website and its promotion.
Country report, part of a series of publications assessing the impact of Non-Tariff Measures (NTMs) on the business sector, based on a large-scale survey conducted in Jamaica with companies directly reporting burdensome NTMs and the reasons why they consider them to be trade barriers; analyses survey findings and compares them to other sources on NTMs to identify regulatory, procedural and infrastructural obstacles in Jamaica and its partner countries; covers fresh and processed agro-based products including coffee, alcoholic beverages and other vegetables and manufacturing sectors; outlines policy options discussed at stakeholder meeting; includes NTM classification, and bibliographical references (pp.79-80).
The training manual on the World Trade Organization Agreement on Trade Facilitation explains each of the measures of the Agreement, including the key elements of the measure, the intended benefits from a business perspective, an outline of the practical steps that businesses might take in order to take advantage of the measure and practical exercises and proposed questions for group discussion. It aims to assist the business community better understand the technical measures of this multilateral Agreement and the opportunities it offers to importers, and exporters in reducing delays and costs in moving goods and services across borders.
Guide seeking to provide small and medium-sized exporters with a comprehensive understanding of quality-related issues linked to the quality infrastructure − consists of questions and answers related to quality control, technical requirements (standards, technical regulations, sanitary and phytosanitary measures), management systems, conformity assessment (testing, inspection, certification), metrology, accreditation, and the WTO Agreements on Technical Barriers to Trade and the Application of Sanitary and Phytosanitary Measures; answers to questions are followed by relevant bibliographical references and web resources.
This economy profile presents the Doing Business indicators for Antigua and Barbuda. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June 1, 2015 (except for the paying taxes indicators, which cover the period January–December 2014).
Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation. Doing Business 2016 presents the data for the labor market regulation indicators in an annex. The report does not present rankings of economies on labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business.
In a series of annual reports Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies, from Afghanistan to Zimbabwe, over time. The data set covers 47 economies in Sub-Saharan Africa, 32 in Latin America and the Caribbean, 25 in East Asia and the Pacific, 25 in Eastern Europe and Central Asia, 20 in the Middle East and North Africa and 8 in South Asia, as well as 32 OECD high-income economies. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why.
This business guide explains the main features of India's Duty-Free Tariff Preferences’ (DFTP) scheme and aims to raise the awareness of this scheme amongst Least Developed Countries (LDCs) - an exclusive section is dedicated to explain India's import regulations and requirements on standards. Written in frequently asked questions (FAQ) format to help exporters and trade policy officials of beneficiary countries to better understand the key features of India's DFTP scheme, the guide aims to reach out to the Indian private sector, which has trade and investment relationships with LDCs.
Technical guide focusing on the requirements for organic food packaging aimed at small processors, packers and exporters in developing countries – discusses packaging basics, including its functions; describes sustainable packaging design and eight important steps to take in the sourcing of packaging; reviews the laws relating to foodcontact materials in general and organic food in particular; gives an overview of food safety issues; discusses possible damage during travel from farm to packaging houses and how to prevent it; describes packaging material and technology options, transport packaging, and various types of packaging for different types of food.
Survey of natural products market in the United States and Canada, with a special focus on selected South American and African products – presents a general overview of the North American market for natural products; highlights prospects for Peruvian and South American products in this market; gives legal definitions of natural products; outlines market access requirements in terms of regulations, quality standards, product presentation, packaging, and labelling; outlines different distribution channels, and reviews the qualifications required by North American buyers of their suppliers; provides examples of companies in the natural products market, illustrating their approach in developing their market niche and businesses; appendices include a list of importers/wholesalers of natural ingredients, producers of essential oils, and herb farms.
The report focusing on the World Trade Organization's Trade Facilitation Agreement (TFA), and its Article 23.2 that mandates Member States to establish or maintain national trade facilitation bodies (NTFBs) - analyses the scope and purpose of Article 23.2 and links it with the trade facilitation activities of other international organizations; considers some possible models for NTFBs and draws lessons and experiences from those that already exist; includes examples of NTFBs that have been established by governments or the private sector; sets out a detailed step-by-step process on how to establish an NTFB, and suggestions for developing countries to consider as they reflect on the best way of
implementing the TFA to suit their own circumstances; concludes with an analysis of ways in which NTFBs may choose to engage with business stakeholders, from participation in working groups to public-private dialogue, including the UNECE recommendations on NTFBs and consultation approaches, includes bibliographical references (pp. 45-46).
This publication studies e-commerce-related policies that affect SMEs’ engagement in cross-border e-commerce. It identifies the bottlenecks and requirements of e-commerce participation and presents examples of best practices in regulating cross-border e-commerce. The paper addresses competitiveness issues in each segment of the cross-border e-commerce process chain, including establishing business online, international e-payment, cross-border delivery and aftersales services. It provides a checklist of the essential ingredients for SME success in cross-border e-commerce, by examining enabling factors at the firm level, immediate business environment level and national policy level. The paper also reviews global cross-border e-commerce and offers a deeper analysis of selected economies. The paper serves as a starting point for a public private dialogue on e-commerce, especially for SMEs in developing countries.
This report is a product of a partnership funded by the Swiss State Secretariat for Economic Affairs (SECO) between the Research Institute of Organic Agriculture (FiBL), the International Institute of Sustainable Development (IISD) and the International Trade Centre (ITC). It offers a pathway for formalizing the reporting process with a view to making data on sustainable markets more accessible to all; and provides a market data survey on Voluntary Sustainability Standards (VSS). Section one gives an overview of the VSS surveyed with a short description and key data; section two includes the productionrelated data for key global sustainability standards across nine commodity sectors, bananas, cocoa,
coffee, cotton, forestry, palm oil, soybeans, cane sugar and tea; includes bibliographical references (pp. 143-145).
The book providing an analytical and practical explanation of the process and substance of services sector reforms - aims at assisting the business sector in developing countries to engage with governments on strategies for the development of the services sector, with a view to increasing competitiveness and trade; looks at how services can contribute to growth and development; the role of services in trade negotiations; and how business and governments in developing countries can work together towards common aims; reviews individual service sectors such a tourism, transport, communications, computer, audiovisual, business process outsourcing, professional and other business services, construction, distribution, cultural and recreational services; provides key statistical data in services trade; includes bibliographic references (p. 140).
Guide on organizing, preparing, launching and implementing trade fairs aimed at potential organizers in developing countries – focusses on the sectoral exhibitions open to professionals, targeting international audiences; provides step-by-step guidelines to be followed from the conception of the project, through the planning, organization and implementation of the event, up to its evaluation; gives specific examples related to trade fairs of the leather industry; discusses the development of the promotional and communication strategy; an accompanying CD-ROM contains templates, specimen and information sets that can be used during the event's feasibility analysis and planning phase, profiles of leather sector exhibitions, photo galleries, samples of service TORs; includes bibliographic references (p. 57).
Paper focussing on recent trends in the Least Developed Countries ( LDCs) exports of commercial services targeted at trade support institutions and the Aid for Trade community - describes the LDCs current services export performance based on the UNCTAD-WTO Trade in Services Statistics for 2011; provides a collection of services exporter case stories; features case studies from Bangladesh, Cambodia, Rwanda, Senegal, Uganda, Vanuatu; discusses lessons learned on the drivers of competitiveness in services; offers initial suggestions for what needs to be done to enhance LDC services enterprises' competitiveness.
For the World Bank Group to achieve its twin goals of ending extreme poverty and boosting shared prosperity, the benefits of trade must be extended to all countries. But many countries lack the necessary infrastructure to meet the quality standards for entering global markets, because participation in world trade increasingly requires that suppliers comply with standards, technical regulations, and sanitary and phytosanitary measures. To overcome these technical barriers to trade in the most efficient and cost-effective way and to reap the benefits of trade, a functioning quality infrastructure (QI) ecosystem is crucial.
Using their vast experience in upgrading and reforming QI ecosystems, the World Bank and the National Metrology Institute of Germany (PTB) have partnered to develop the first comprehensive QI diagnostic and reform toolkit, which is designed to help development partners and country governments analyze their QI ecosystems and develop a coherent offering to support QI reforms and capacity development. This toolkit is also a valuable knowledge base for other interested parties to learn more about QI and reform their QI systems or parts thereof.
Many studies have analyzed the sources of low inflation, its highly synchronized nature, and its policy implications for these economies. To date, however, no comprehensive study has explored the evolving dynamics of inflation in EMDEs. This book fills that critical gap with the following contributions:
• A comprehensive analysis of inflation in EMDEs and LICs. Seven chapters analyze the recent history of inflation among EMDEs, including its evolution, its synchronization across countries, the global and domestic sources of inflation, and the roles of expectations and exchange rate passthrough. In addition, the book presents a detailed examination of inflation and monetary policy–related challenges in LICs and assesses their implications for development outcomes.
• A truly global data set. By assembling a database that includes the largest sample of countries of any major inflation study, this research is enriched by information that is considerably more representative of “global inflation” than earlier work, which relied predominantly on advanced economy data. The database further covers multiple measures of inflation and macroeconomic and structural country features over almost five decades.
• Use of cutting-edge methodologies. The study examines EMDE inflation using cutting-edge empirical methodologies that have thus far mostly been employed in studies of inflation in advanced economies. A variety of timeseries
and panel econometric models are complemented by event studies, case studies, and historical comparisons that shed additional light on the topics under consideration.
The purpose of this Resource Paper is to present the collective views of the UN system on the links between gender equality and trade policy. The Paper provides a summary overview of key questions, concerns and policy recommendations while providing reference to related UN resolutions, UN official documentation, publications and websites.
The Resource Paper is organized as follows: Section II briefly reviews the evolution of the international debate on globalization, trade liberalization and their impacts on equitable development, in the context of the United Nations Development agenda as the overarching framework for development. Section III dwells upon the relevance of integrating ‐ or mainstreaming ‐ gender perspectives in trade policy and discusses the implications of women's economic empowerment on trade and economic growth. Sections IV analyzes, through a gender lens, some commonly observed impacts of international trade on labour markets and small businesses. Section V addresses the potential of labour mobility as a tool for women's empowerment in the context of international migration and international trade in services. Section VI further explains the interrelationships between trade policy and gender equality in agriculture. Section VII reflects upon the impact of the financial and economic crisis on women and presents data and examples of policies implemented by governments to address it. Section VIII reviews good practices in incorporating gender considerations in trade policy and trade agreements. Finally, Section IX presents a non‐exhaustive list of actions undertaken by the UN system to support the process of making trade policy more responsive to the specific needs of women and instrumental to gender equality and women's empowerment. The Annex includes UN Resolutions, UN official documents, publications and websites on the issues addressed in the Resource Paper.
This report is a joint venture between Caribbean Business Consulting (CBC) based in Haiti and Nex Consulting based in Dominican Republic. The organization of cluster meetings, communication with leading experts at a national level and the preparation of the individual value chain reports in the respective countries was undertaken by CBC’s team of experts in Haiti and Nex’s team in DR. The summary reviews which combine the key findings of the individual country value chain were jointly undertaken by both teams with external support of a panel of experts. These experts drawn from government departments and agencies, chambers of commerce, private business, NGOs and consultants were selected in both the Dominican Republic and Haiti with a view to helping with the selection of value chains and also selection of key stakeholders. This report is as a result of the bi-national project - part of the “Private Sector Development Component” of the Haiti-Dominican Republic Programme of Bilateral Economic and Trade Cooperation under the 10th European Development Fund (EDF) FED/2012/295-834. This component of the overall 10th European Development Fund (EDF) bi-national programme seeks to enhance the overall business and investment climate of Haiti and the Dominican Republic as well as the international perceptions and images of both countries.
The Caribbean Export Development Agency (Caribbean Export) Strategic Plan 2015-2019 has been developed at a time of pronounced unpredictability globally. As the premier regional trade, export and investment promotion agency in the African Caribbean and Pacific (ACP) States, the Agency itself is in a transitional phase. In the current global climate, the international trade regime, political commitment to regional integration and open markets, as well as the direction of international donor support are all factors impacting on our Region. Given these realities, the Agency aims to not only minimise the impact of this instability on Caribbean small and medium-sized enterprises (SMEs), but also enhance its own institutional capacity for sustainability and the generation of diverse revenue streams. It is within this context that this Strategic Plan prioritises the objectives that Caribbean Export is in a position to achieve in the medium to long-term. This document sets the framework for work to be undertaken by the Agency, and constitutes the basis against which performance will be monitored and assessed. It also prioritises competing demands from clients, member countries, and stakeholders for limited resources.
Over the past decade, many countries in the Latin America and the Caribbean (LAC) region have achieved strong growth and poverty reduction—but in an unsustainable manner, through a commodity boom. Now that the commodity
tailwinds have receded, Latin American countries face the challenge of securing and expanding their needed social achievements sustainably, through productivity growth enabled by new technologies. Although the adoption of new technologies enhances long-term growth and average per capita incomes, its impact on lower-skilled workers is more complex and merits clarification. Concerns abound that new machines and other forms of advanced technologies developed in high-income countries would, if adopted by firms in the LAC region, inexorably lead to job losses for lower-skilled, less-welloff workers and exacerbate poverty. Conversely, there are countervailing concerns that policies intended to protect jobs from technology advancement would themselves stultify progress and depress productivity.
This book squarely addresses both sets of concerns with new research showing that adoption of information and communication technologies (ICT) offers a pathway to more inclusive growth by increasing adopting firms’ output, with the
jobs-enhancing impact of technology adoption assisted by growth-enhancing policies that foster sizable output expansion. “Inclusive growth” in this book is growth that improves the job prospects of lower-skilled workers. The research
reported here uses economic theory and multicountry LAC data to demonstrate that lower-skilled workers can, and do, benefit from adoption of productivityenhancing technologies biased toward skilled workers, such as ICT. The use of
the Internet allows firms to benefit by increasing productivity in areas ranging from supplier and customer relations to recruiting and training, while use of production, client management, and other software further supports production
planning and processes, product pricing, and related business tasks; and as information becomes more available across the firm, workers can become more sophisticated and make better decisions.
This project was undertaken to carry out a study of the professional service sector in Barbados and involved the following components:
- An assessment of the current capabilities of the segments of the professional services sector.
- Identification and analysis of the global competition in order to pinpoint where the major players have left unmet market needs.
- A comparative analysis to determine whether the domestic sector can meet those needs with its current capabilities, and identify the areas that must be strengthened in order to effectively compete.
The literature review examined the global and Barbadian publications that address the relationship between national economic sectoral development, education needs and the development of a domestic professional services sector.
The first chapter of this study looks at the impact of technology on jobs and sets out a model for the changing nature of work. Chapter 2 examines how technological change affects the nature of the firm. Chapter 3 addresses
the link between human capital accumulation and the future of work, looking more closely at why governments need to invest in human capital and why they often fail to do so; also introduces the World Bank’s new human capital project ; and presents cross-country comparisons for 157 economies globally. Chapter 4 answers this question by exploring three domains—early childhood, tertiary education, and adult learning outside jobs— where people acquire specific
skills that the changing nature of work requires. Chapter 5 evaluates how successful economies have been in generating human capital at work. Uncertain labor markets call for strengthening social protection is explored in chapter 6 and Chapter 7 considers potential elements of a social contract, which include investing early in human capital, taxing firms, expanding social protection, and increasing productive opportunities for youth.
The relationship between natural resource endowments and economic growth and development has attracted much attention. Specifically, the Dutch disease phenomenon, which has crippled several economies, has been studied extensively. It is urgent to prevent the Guyanese economy from gravitating toward the negative tendencies associated with the disease. This paper reviews Trinidad and Tobago’s experience in managing and coping with the Dutch disease phenomenon and outlines lessons that Guyana can learn from its experience. Additionally, the paper presents Dutch disease theory and sovereign wealth fund theory and practice, stressing how the likely shocks to the Guyanese economy can be prevented or mitigated, using Trinidad’s experience as the benchmark.
Policies are not designed and implemented by a social planner but are determined through a political process, based on the policymakers' preferences, beliefs and the constraints provided by political institutions. The resulting outcome could entail the choice of inefficient policies. This study presents a modified version of Besley and Persson (2011)'s core model which explains policy failure as the result of weak political institutions, negative views vis-a-vis public goods and/or
limited technical capacity for identifying and designing high-quality public programs. In light of these theoretical predictions, the limits and opportunities are discussed for external agents to support policy reform processes in recipient countries.
This publication covers PPPs with a focus on the implications for public finances in developing economies. Chapter 1 seeks to answer the question of whether PPPs are the “genie in the bottle” for governments seeking to plug the infrastructure gap: do they solve more problems than they create? This discussion lays the groundwork for further analysis. Chapter 2 explores the underlying reasons for the expansion of PPPs, the definitions and scope of PPPs in different contexts, and the historical trajectory of PPPs throughout the world, highlighting the common factors that have led to their current popularity. Chapter 3 details the multitude of institutional frameworks built to accommodate PPPs. It
highlights the frameworks for national and subnational entities commissioning PPPs and deals with the involvement of state-owned enterprises. It also introduces fiscal frameworks for PPPs. Chapter 4 considers the fiscal and budgetary implications of PPPs from various perspectives. Chapter 5 covers the multiple forms of government financial support extended to PPPs and the practical implications of various countries’ experiences with direct, indirect, explicit, and implicit forms of project support. Finally, Chapter 6 discusses unsolicited PPP proposals coming directly from private-sector firms that hope to service them. We conclude with a brief summation of the outlook for PPPs as well as concise policy recommendations.
Women, Business and the Law 2018 is the fi fth in a series of biennial reports measuring gender diff erences in legal treatment. Since this research started, the realization of the importance of women’s entrepreneurship and employment has increased signifi cantly, as has our understanding of the relationship between legal gender equality and women’s economic outcomes.
To understand where laws facilitate or hinder gender equality and women’s economic participation, Women, Business and the Law 2018 is providing scores for the first time for each of its seven indicators: accessing institutions, using property, getting a job, providing incentives to work, going to court, building credit and protecting women from violence. The indicator scores are a number between 0 and 100, with 100 being the best. The scores are obtained by calculating the unweighted average of the scored questions within that indicator, and scaling the result to 100.
This report covers data for 189 economies including 16 that were not covered in the previous report: Cabo Verde; the Central African Republic; the Comoros; Cyprus; Eritrea; The Gambia; Guinea-Bissau; Kiribati; Libya; the Marshall Islands; the Federated States of Micronesia; Palau; Samoa; San Marino; the Solomon Islands; and Vanuatu.
This volume, the third in the series, focuses on the disproportionate contribution to overall growth by a relatively small share of firms that quickly scale their employment and output and generate positive spillovers along the value chain (high-growth firms). Policy makers across the world are keen to identify and support such firms in an effort to boost development. However, episodes of high growth are typically short-lived, and the empirical support for the ability to successfully target these firms is, at best, lukewarm. The analysis in this volume sheds new light on key features and drivers of high-growth firms in developing countries and leads to rethinking of public policy priorities to support firm growth.
Economic growth, public debt, and the government’s fiscal balance are strongly intertwined. In Barbados, low growth and recurring fiscal deficits have led to rapid accumulation of debt, which at over 155 percent of GDP in 2017 and the first half of 2018, has been the highest in the Latin American and Caribbean region. In response, the Government of Barbados is carrying out a set of ambitious reforms, including a fiscal consolidation program and debt restructuring. Yet, given the important role of economic growth on the required fiscal adjustment and on the debt-to-GDP ratio, it will be key to ensure that the design and scope of the adjustment support a balanced approach, reducing debt without undermining growth. This paper reviews and explains the recent debt trajectory in Barbados. It then discusses the potential effects of real GDP growth on the debtto-GDP ratio and the required fiscal adjustment going forward. In so doing, it highlights the importance of a balanced approach between fiscal adjustment and growth stimulus for a sustainable debt path.
This paper examines the relationship between public financial management (PFM), the financing of health interventions, and health outcomes. Specifically, the paper econometrically tests whether the effect of PFM on under-five (U5) mortality depends on the relevance of public sector health financing. Employing OLS on a sample of 215 observations indicates that a one-unit increase in PFM quality is associated with a reduction in the U5 mortality rate with about 14 deaths per 1,000 live births. For countries that channel at least 75 percent of health expenditures through the government system, this rate increases to 17 deaths per 1,000 child births. Results are robust to using an alternative dependent variable, adding year fixed effects, a sensitivity test where the health financing threshold is varied, a falsification test that verifies whether findings are driven by unobserved governance aspects, a sample restriction, and the inclusion of different controls. Furthermore, the paper provides a comparative analysis for Latin America and Caribbean (LAC), a region that remains mostly overlooked in the literature. The findings for LAC are broadly consistent with the global sample, though less pronounced and without a differential effect for countries across the financing threshold. Overall, the evidence indicates that the pursuit of universal health coverage and the progress toward related SDGs will be costlier if enabling systems are not in place.
In 2014 a survey of 11 indigenous villages and 337 households was conducted to understand the economic conditions and document perceptions and opinions of leaders and households on various matters of import. This report presents the results of the survey. The main findings are that Indigenous villages face serious underdevelopment challenges due to deficient infrastructure, limited human capital, high dependency ratios, and lack of access to capital for investment.
The report contains the final findings of the comprehensive review mandated by the General Assembly in its resolution 69/288. It addresses the scope of recommendations 1, 5 and 6 contained in the report entitled “Recommendations to the General Assembly of the United Nations for the determination of parameters for a comprehensive review of United Nations system support for small island developing States” (JIU/REP/2015/2) related to:
- System-wide coherence in United Nations system work in support of small island developing States (SIDS) to implement the Small Island Developing States Accelerated Modalities of Action (SAMOA) Pathway, taking into account its linkages with other global mandates;
- Institutional set-up and coordination for monitoring and reporting on the implementation of the SAMOA Pathway;
- Institutional and managerial mechanisms of coordination between the Department of Economic and Social Affairs (DESA) and the Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (OHRLLS).
The findings of the report build on the information collected during the field missions in the following small island developing States: Barbados, Fiji, Mauritius, Samoa and Trinidad and Tobago. The team also visited Panama, a regional hub of United Nations system organizations, as well as Geneva-based organizations and United Nations Headquarters in New York.
This year’s report focuses on regional trade, the most common form of trade for small and medium-sized enterprises (SMEs). It finds that deep regional trade agreements help deliver inclusive growth. These agreements attract value chain
activity and narrow the competitiveness gap between large and small firms. When investment is part of such agreements, the impact is stronger.
The report provides targeted advice for policymakers, businesses, and trade and investment support institutions. It combines data analysis, case studies, academic insights and opinions by thought leaders. Policymakers, investors, exporters and importers receive key information on how to identify new partners and market opportunities. The publication contains 50 country profiles, featuring detailed SME competitiveness assessments and information on each country’s export potential within and outside their geographical region. Success stories of value chain integration are provided for Ghana, Hungary, Indonesia, Kenya and Morocco.
Achieving the Sustainable Development Goals, the World Bank’s twin goals—or any other development goal for that matter—hinges on sustained economic growth in emerging market and developing economies (EMDEs). This growth
in turn depends on macroeconomic stability. The semi-annual Global Economic Prospects (GEP) report assesses the global outlook for growth and stability in these countries.
The January 2019 edition, Darkening Skies, highlights how precarious the current economic juncture is. In a nutshell, growth has weakened, trade tensions remain high, several developing economies have experienced financial stress, and risks to the outlook have increased. As the report points out, EMDEs face some of the greatest risks. If a trade war between the United States and China contributes to a global slowdown, the spillover effects on EMDEs could be profound. Similarly, a sharp increase in global interest rates would severely affect highly indebted EMDEs, as Turkey and Argentina painfully discovered last summer.
This edition of the GEP continues that tradition with a comprehensive study of the informal economy, something which could in the short-run be a shock absorber, but in the long-run is associated with low productivity. The analysis
suggests that the informal sector’s role in absorbing labor during downturns is limited. However, the potential long-term gains from increasing productivity in the informal sector are substantial. This edition also presents evidence
that debt in low-income countries is on the rise, an issue that is being discussed extensively in policy circles.
The main message of this year’s World Development Report: Gender Equality and Development is that these patterns of progress and persistence in gender equality matter, both for development outcomes and policy making. They matter because gender equality is a core development objective in its own right. But greater gender equality is also smart economics, enhancing productivity and improving other development outcomes, including prospects for the next generation and for the quality of societal policies and institutions. Economic development is not enough to shrink all gender disparities—corrective policies that focus on persisting gender gaps are essential.
This Report points to four priority areas for policy going forward. First, reducing gender gaps in human capital—specifi cally those that address female mortality and education. Second, closing gender gaps in access to economic opportunities, earnings, and productivity. Third, shrinking gender differences in voice and agency within society. Fourth, limiting the reproduction of gender inequality across generations. These are all areas where higher incomes by themselves do little to reduce gender gaps, but focused policies can have a real impact.
This book shines a spotlight on the value of voice and agency, the patterns of constraints that limit their realization, and the associated costs, not only to individual women but also to their families, communities, and societies. It highlights promising policies and interventions, and it identiFies priority areas where further research and more and better data and evidence are needed. Underlining that agency has both intrinsic and instrumental, concrete value, we put advancing women’s voice and agency squarely on the international development agenda.
Removing constraints and unleashing women’s full productive potential can yield enormous dividends that help make whole societies more resilient and more prosperous. For example:
■ Delays in marriage are associated with greater educational achievement and lower fertility. And lower fertility can increase women’s life expectancy and has benefits for children’s health and education.
■ When more women are elected to office, policy making increasingly reflects the priorities of families and women.
■ Property ownership can enhance women’s agency by increasing their social status, amplifying their voice, and incr easing their bargaining power within the household.
Recognizing agency constraints in development project design can also improve effectiveness. Use of reproductive health services by adolescents, for example, is better where projects address mobility constraints and train providers to address possible issues of stigma. This fact underlines the broader significance of understanding how agency constraints operate and how policies and public action can lift those constraints and enhance agency.
The good news is that promising directions for enhancing agency are emerging. Moreover, the global momentum to tackle this agenda is growing. This trend is perhaps most vivid in the case of ending gender-based violence, a major focus of this book. The number of countries recognizing domestic violence as a crime has risen from close to zero to 76 in just 37 years. In countries with legislation against domestic violence, women’s acceptance of wife beating is lower. This finding suggests the value of enacting legislation that criminalizes violence. At the same time, laws are clearly not a panacea, and awareness of the law and effective implementation and enforcement are critical.
Over recent decades the Latin America and the Caribbean (LAC) region has seen a dramatic and virtually uninterrupted rise in female labor force participation (LFP). Women in LAC have increased their participation faster than in any other region of the world, adding nearly 80 million women to the labor force. This evolution occurred in the context of more general progress in women’s status. Female enrollment rates in primary through tertiary education have increased to the point of closing or even reversing the gender gap that traditionally favored boys. Family structures have changed markedly, and fertility rates have started to decline. And social norms have shifted toward gender equality.
This report argues that all of those changes are interrelated and need to be studied as such. Traditional explanations for low LFP, and for the patterns of employment once women join the workforce, have focused on discrimination or
low human capital accumulation. In these views, the policies for generating more opportunities for women focus on labor market institutions or on the quantity and quality of human capital investments. However, the recent literature in developed countries has stressed the role and interaction of microsocial factors in determining economic opportunities available to women and, by extension, the evolution of female economic participation (such as LFP, sectoral choices, and family formation).1 These microsocial factors include human capital; 2 (education and health), social norms and preferences, and family formation and household structure
This report views the evolution of female participation through this microlens, drawing on the emerging literature on family formation (marriage and fertility) and household structure, including intrahousehold bargaining.3 While not negating or dismissing the ongoing agenda of ensuring equal opportunity in the workplace, this approach shifts the focus to household dynamics and decisions about schooling, the allocation of work within the household, and the kinds of jobs each household member should seek.4 It thus provides a powerful framework for interpreting the evolution of gender-related patterns. The framework highlights the importance of understanding how household decisions
are made, since different models of the household yield divergent implications for interactions between spouses, for the distribution of resources and its associated welfare, and for the relevant policy margins.
This book argues that more and better childcare is an important way to increase FLFP. The main hypothesis is that the success of childcare policies depends on use and that use depends on how programs design quality and convenience features. First-rate educational programs will be useless if children are not enrolled or do not attend; program expansions will be wasted if mothers cannot enroll their children because they are unable to reach the center, if the program is too expensive, or if their work schedules are not compatible with the childcare center’s hours.
This book addresses these gaps. Part I shows why increasing FLFP is important and childcare is the right policy for achieving it. Chapter 1 provides evidence that increased FLFP contributes to growth, poverty reduction, and fiscal
sustainability. Lower labor force participation in paid work, particularly among the poorest women, implies both productivity losses and higher probabilities of intergenerational transmission of poverty and inequality. Female labor income
accounted for an estimated 28 percent of the sharp decline in inequality experienced in the region between 2000 and 2010; had female labor income not changed during this decade, extreme poverty would have been 30 percent higher in 2010 (World Bank 2012).
Part II describes FLFP and the use and provision of childcare services in LAC. Chapter 3 overviews current labor market outcomes, describing women’s labor force participation, unemployment, informality, earnings, and occupational segregation.
Part III examines how policy makers can improve services and increase the number of formal, center-based care arrangements for young children.
This manual provides a guide to working with ADePT Gender with a particular emphasis on helping the wide community of users to interpret the large volume of statistical information generated by the software. Contrary to other ADePT modules, it does not detail the mechanisms behind gender differences in outcomes, as these are extensively covered in the WDR 2012 and in its companion reports. Table 1.1 lists the main references available to the ADePT Gender users on the drivers of gender inequality and offers a short description of how they relate to the WDR framework.
The origins of the book go back to the early days of the Living Standards Measurement Study (LSMS), which was set up in the World Bank around 1980. As its name suggests, the original idea was to promote household surveys that would enable the better measurement of poverty and of living standards around the world, something that was difficult to do with the data then available. As time went on, and people came and went, the LSMS surveys evolved into multi-purpose tools that would permit not only measurement, but also analysis, permitting a better understanding of how people’s lives work, what makes them tick, and why they are as well off or as poorly off as they are. Hence “the analysis” of household surveys, not just the measurement of income, or consumption, or wellbeing. In the original conception, there were to be a series of volumes on different specific topics, with this volume being more general, though with examples of topics that could be covered using the approach.
This study pulls together the underlying shifts in paradigm and measurement and terms them the “second wave” of productivity analysis. This new wave has been facilitated by three critical evolutions. First, the access to detailed and
high-quality firm-level data has improved greatly in some economies. Second, partly aided by this availability, an academic literature has emerged that critically revisits many established approaches, in particular, the estimation of firm production functions, and from there, the identification and measurement of the drivers of productivity growth. Third, the quantification of human capital or “capabilities” relevant to productivity improvements, in terms of both managerial skills
and, more fundamentally, necessary psychological characteristics, has permitted a tentative opening of the black box of the role of entrepreneurship in productivity gains.
This volume employs manufacturing production firm-level data for a variety of developing economies—including Chile; China; Colombia; Ethiopia; India; Indonesia; Malaysia; Mexico; Taiwan, China; Thailand; and Romania—to forward
this analytical agenda and ground it in the developing-country reality. The extensive empirical work and conceptual synthesis presented in this volume offers new guidance for productivity analysis and dictates a corresponding shift in how to
approach productivity policy in several areas.
This report offers two sets of recommendations to national governments. The first is for more effective policy frameworks to govern food safety; the second is for better implementation. The first set of recommendations emphasizes the
adoption of both systemic and inclusive concepts of food safety management, shifting the focus from hazards to risks, addressing risks from farm to fork, changing from a reactive to a proactive orientation on food safety, and adopting
a consistent approach to prioritized decision making. To improve implementation, this report offers guidance for reforming food safety regulatory practices, investing more smartly in essential public goods, institutionalizing a structured
approach to food safety risk management, and leveraging consumer concerns over food safety.
This report makes tailored recommendations for different stakeholders, and general priorities are highlighted for countries at different stages of the food safety life cycle. The recommendations for different stakeholders are summarized in box ES.1 and are discussed more fully in the report. Table ES.1 highlights priorities for countries at different stages of the food safety life cycle. These emphasize core principles and reflect the study team’s perspective on what is most important and feasible for countries at different levels of economic development and food system modernization. More specific priorities and action plans will need to be determined and created by stakeholders at country or regional levels.
This report is about how the data revolution is changing the behavior of governments, individuals, and firms. Specifically, the report examines how these changes affect the nature of development—economic, social, and cultural. How can
governments extract value from data to improve service delivery in the same way that private companies have learned to do for profit? Is it feasible for individuals to take ownership of their own data and to use it to improve livelihoods and quality of life? Can developing-country firms compete with the internet majors on their own turf and even be more innovative in their use of data to serve local customers better?
This book is directed at policymakers as well as academics. For the first group, there might be interesting lessons to be learned (or at the very least, interesting ideas to explore) about the core capabilities needed for the design and effective implementation of PDPs. For the second group, the hope is to open interesting new areas of research. The conclusions and conjectures on how Latin American and Caribbean countries might best develop public capabilities for PDPs, based on a series of case studies, are preliminary. Further research using a mix of qualitative and quantitative techniques, as well as more rigorous development of the conceptual framework outlined both in this book and in the IDB Working Papers that this project generated, is needed to provide a stronger basis for policymaking in the future.
Despite tremendous strides in recent years toward economic stabilization, debt reduction, and structural reform, financial sector development and access in Jamaica lag behind peers. Development-related indicators have remained stubbornly static over the past several decades, including with respect to poverty rates, income equality, economic informality, and the vibrancy of the private sector. In this context, a combination of economic and policy-related factors, as
well as geographic, social, and demographic issues have all influenced the development of Jamaica’s financial sector. Recent improvements in institutional capacity, policy discipline, and structural measures suggest that there is considerable scope to accelerate financial sector development and to broaden access and inclusion. This paper aims to review a number of metrics and indicators related to financial market development, highlight some country-specific
challenges facing financial deepening and inclusion, and put forward recommendations regarding areas for reform. The government’s first ever national financial inclusion strategy launched in 2016 is also discussed.
The Barbados economy has been challenged over the last decade by elevated fiscal deficits and a rapid build-up in debt. While the country has made efforts to address this challenge through revenue and expenditure measures, budget targets have often been missed. This study indicates that budget underperformance has contributed to the debt accumulation in Barbados. When comparing actual to budgeted targets set out in the budget, the study indicates that there has
been an underestimation of expenditure and lower-than-expected revenue in several years. Particularly, systematic underestimation of transfers without adequate compensation in revenues has increased debt, underscoring the need for institutional and fiscal reforms. At the same time, the under-execution of capital expenditure highlights the need for better allocation to this growthpromoting spending, which has suffered from limited fiscal space.