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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.
This report builds on the desire to construct a more complete picture of what it means to live in a world free of poverty and in which all prosper. A key point of the report is that we must broaden our view of poverty. After an update on global extreme poverty in chapter 1, the remaining chapters of this report can be viewed as expanding our understanding of poverty. Chapter 2 provides an update on shared prosperity as measured by growth in consumption or income of the
bottom 40 percent of the population in each country for the period around 2010–15. One important reason the concept of monitoring shared prosperity was introduced was to expand our view of how to think about poverty reduction and growth. Monitoring extreme poverty at the global level is inattentive to how progress is distributed across the world. The shared prosperity indicator was built to ensure the monitoring of progress in all countries. Ending poverty and sharing
in prosperity cannot happen in a satisfactory way if the need for equitable and sustainable economic development is ignored in certain regions or countries.
Pieced together, the chapters of this report provide a more comprehensive picture of poverty that reinforces much of the positive story revealed by the tremendous progress in reducing extreme poverty over the last quarter century. But they also uncover some previously hidden details about the nature and extent of poverty throughout the world. Monetary poverty with respect to the IPL will continue to be the focus of the World Bank’s work. Alarming findings from the forecasts reported in the first chapter are that extreme poverty appears to be entrenched in a handful of countries and that the pace of poverty reduction will soon decelerate significantly. The goal of ending extreme poverty as measured
by the IPL itself will require a redoubling of efforts and a greater focus on those countries where poverty is the worst. But, to truly bring an end to poverty, we now also need to think more broadly and recognize the greater complexity inherent in the concept of poverty around the world.
This handbook is written for the operational managers in agribusiness companies responsible for integrating smallholder farmers into value chains as suppliers, clients, or customers. These managers include the following:
• Product and sales managers for input manufacturers, distributors, wholesalers, and retailers
• Field managers for financial institutions and their small business clients
• Training service providers working with smallholders
• Supply chain and sustainability managers for off-takers
• Sustainability managers for processors and food companies
• Company managers responsible for engagement via public-private partnerships.
Although written principally to outline training and assistance needs and opportunities for the private sector—whether in high-income, frontier,or low- and middle-income markets—the handbook may also be
useful to the staffs of governmental or nongovernmental agricultural development programs working with smallholders, as well as to academic and research institutions.
This report argues that fiscal instruments are among the most effective means to fight climate change while raising human welfare. Environmental taxes are taxes whose base “is a physical unit (or a proxy of it) that has a proven specific
negative impact on the environment” (OECD 2018a). Taxes can include those on energy, transportation, pollution, and resources. These taxes leverage price signals to discourage the burning of fossil fuels and other environmentally damaging activities while promoting innovation and investment in cleaner, more efficient sources of energy. In addition, the revenue generated by environmental taxes can be used to reduce other, preexisting taxes or to finance spending on health, education, social protection, and public infrastructure to increase the economy’s resilience to climate change.
This report responds to a growing demand from client countries for insights into how fiscal policy can advance development objectives in areas outside of the World Bank’s traditional scope. The report is designed to build the capacity of
client countries and World Bank staff to use fiscal instruments to mitigate and adapt to climate change. It does so by filling knowledge gaps on the economic, well-being, distributional, and competitiveness implications of ETR in developing
countries, alongside the use of fiscal policy to manage increasing economic risks of climate change. Crucially, the report provides actionable advice on how to design and implement fiscal policies for both development and climate action.
The report is organized into four chapters. The first chapter, “Benefits beyond Climate: Environmental Tax Reform,” argues that well-designed environmental taxation is especially valuable in developing countries, where it can reduce emissions, increase domestic revenues, and generate positive welfare effects. The second chapter, “Staying Competitive: Productivity Effects of Environmental Taxes,” discusses the potential impacts of environmental taxation on competitiveness in emerging economies. It analyzes new empirical evidence from Indonesia and Mexico regarding the relationship between productivity and changes in energy prices, which are used as a proxy for changes in environmental taxation. The third and fourth chapters, “Increasing Resilience: Fiscal Policy for Climate Adaptation” and “Managing the Fiscal Risks Associated with Natural Disasters,” discuss the role of fiscal policy in strengthening resilience to climate change.
The paper discussing the barriers hampering development of e-commerce in Africa - gives an overview of the e-commerce potential throughout Africa; explores common barriers grouped into four broad areas - financial, infrastructure, socio-political and digital divide, each of which is discussed in a separate chapter; seeks to identify the reasons for these barriers, using insights provided by e-commerce entrepreneurs in several African countries; presents examples of local successes such as Nigeria, alongside examples which illustrate the challenges to replicating such successes elsewhere on the continent; suggests avenues for reducing the obstacles and facilitating international e-commerce on the continent; includes endnotes and sources (pp. 45-47).
The joint report of the International Trade Centre and the World Tourism Organization brings together complementary expertise of two organizations on critical issues at the intersection of the international policy context, government action, and private actors in the tourism sector. It discusses the role of tourism in contributing to sustainable development and illustrates where and how trade, investment or visa policies matter for the tourism sector through two different angles – the point of view of the journey of an international tourist and the point of view of a firm supplying services or goods within a tourism value chain. The report further provides a comprehensive description of the interlinkages the tourism
sector has with other sectors in an economy; suggests that fulfilling tourism's potential requires strong and coordinated action around Tourism Export Strategies that take fully into account the different frameworks governing the flows of travellers, services, goods and foreign direct investment; includes bibliographical references (p. 35-36).
Power Point presentation highlighting the sector, transient, external and timng isues for the ICT sector.
This special edition of the Creative Economy Report argues that creativity and culture are processes or attributes that are intimately bound up in the imagining and generation of new ideas, products or ways of interpreting the world. All these have monetary and non-monetary benefits that can be recognized as instrumental to human development. Transformational change is thus understood within a broader framework of human development and is recognized as a process that enhances the effective freedom of the people to pursue whatever they have reason to value.
In this context, the Report acknowledges that the creative and cultural industries depart in several ways from generic economic and industrial models in the way that they operate and are organized. Their outputs are symbolically and
ideologically charged in ways that most other products are not and raise specific social and political questions that other industries do not. They tend to be environmentally friendly and concentrated in large metropolitan areas, frequently employ highly skilled workers, and rely deeply on informal cultural systems, processes and institutions. These industries also generate benefits that are not measurable by market prices alone, but rather affirm the distinctive cultural identity of the places where they are developed and where they cluster, thereby improving conditions of life and enhancing local image and prestige.
The key question is how to capture the vibrancy and scale of creative economies beyond economic indicators. To meet this challenge, the analytic framework for this Report advances the understanding of “creativity” and “culture” as both drivers and enablers of development.
The Creative Economy Report 2010 —Creative economy: A feasible development option is thesecond policy-oriented report to present the United Nations perspective on this innovative topic. The creative economy has become a topical issue of the international economic and development agenda during this decade, calling for informed policy responses in both developed and developing countries. Adequately nurtured, creativity fuels culture, infuses a human-centred development and constitutes the key ingredient for job creation, innovation and trade while contributing to social inclusion, cultural diversity and environmental sustainability.
This report builds upon the findings and recommendations put forward by the first Creative Economy Report 2008 — The challenge of assessing the creative economy: Towards informed policymaking, but goes a step further by deepening
the analysis and bringing new insights on the impact of recent developments on the creative economy. Evidence from this report confirms an important lesson from the economic crisis, namely that the market, contrary to conventional
wisdom, does not have a near-miraculous capacity to address socio-economic imbalances. Thus, policies and actions to foster development should be rooted in a balanced role for policy interventions and the market. In this context, the debate around the development dimension of the creative economy gained momentum in search of a new development model better adapted to the new realities of the contemporary society. The Creative Economy Report 2010 attempts to
respond to this call by identifying trends, strengths and weaknesses as well as challenges and opportunities to be addressed, bearing in mind that it is important to reconcile national strategies with global international processes .
Haiti has developed a very large trade deficit in merchandise with the DR over the last 15 years, estimated at $1.419 billion1 in 2014. This reportlooks at opportunities for rebalancing this deficit through either import substitution or export development. Haiti has the potential to produce many of the goods that it currently imports from the DR, therefore creating jobs and wealth in Haiti. Similarly, the DR imported goods valued at over $17 billion in 2014, providing a huge market for Haiti to tap into.
This hand-book is designed to put the right information into the hands of our tourism industry to make sure we take full advantage of the EPA. Written in as straightforward and accessible a style as possible, this hand-book summarises the provisions in the Agreement which will affect tourism. It provides a country-by country breakdown of the Caribbean’s EPA commitments to reduce tariffs on European goods and to allow European firms to provide services in our region, and it gives a full analysis of the development funding which is available and how to access it. This handbook is not intended to be read cover-to-cover but rather to provide a quick reference guide for busy tourism professionals who need to understand how the EPA will affect particular aspects of their business and to inform them where they can go to for funding support, technical assistance or advice.
This publication is based on Project TE/RAS/09/003 A survey covering quality management system development, certification, accreditation and economic benefits. In recent years, however, some concerns have been expressed in the Asian developing economies and elsewhere about whether accredited certification to ISO 9001 has been achieving the desired outcomes, and whether excessive attention to obtaining certification has shifted the focus away from the effectiveness of the quality management systems of the organizations involved. These concerns have also been shared by the ISO, the IAF and others. This publication represents an attempt to address these concerns in the context of business-to-business transactions in the manufacturing and construction sectors. It is the outcome of a project initiated by UNIDO, funded by Norad and supported with technical inputs by ISO and the IAF.
This study takes a very pragmatic approach in the examination of the PPP landscape in the Caribbean. This includes a detailed assessment of the legal and regulatory frameworks that currently exists in the Bank’s BMCs that can potentially facilitate or impede the use of PPPs. Within this context, it suggests a reform agenda that would enable the use of PPPs to support growth. This includes identification of the requisite support structures and organisational changes that promote improved PPP outcomes. Importantly, by highlighting several case studies drawn from inside and outside the Region, in both social and economic sectors, the work seeks to assists Caribbean policymakers
in understanding the model of structured project financing. Finally, the study offers possible entry points through which CDB can reinforce BMC’s capacity building needs.
Doing Business advocates for both regulatory quality and efficiency. It is important to have effective rules in place that are easy to follow and understand. To realize economic gains, reduce corruption and encourage SMEs to flourish, unnecessary red tape should be eliminated. However, specific safeguards must be put in place to ensure high-quality business regulatory processes; efficiency alone is not enough for regulation to function well. What use is it when one can transfer property in just a few days and at a low cost, but the property registry contains unreliable information with incomplete geographic coverage? Doing Business exposes cases with evident discrepancies between regulatory quality and efficiency, signaling to regulators what needs to be reformed.
Doing Business 2019 measures the processes for business incorporation, getting a building permit, obtaining an electricity connection, transferring property, getting access to credit, protecting minority investors, paying taxes, engaging in international trade, enforcing contracts and resolving insolvency. Doing Business collects and publishes data on labor market regulation with a focus on the flexibility of employment regulation as well as several aspects of job quality. However, this regulatory area does not constitute part of the ease of doing business ranking (figure 1.1). For more details on the Doing Business indicators, see the data notes at http://www.doingbusiness.org.
The Future Perspectives advocated in this Report attempt to reposition and transform the ACP Group of States into a dynamic and effective inter-governmental organization fully responsive to the global challenges of an unsettled and multi-polar 21st century.
The narrative of the Report provides the role, restated vision, mission and core values of the ACP Group, conscious of the need to articulate in concrete terms, the basis and rationale of interventions within a coherent All-ACP strategic policy framework.
Although not exhaustive, this account is grounded in the historical experience of 39 years of trade negotiations, development financing and political engagements within and between ACP States and those of the ACP and the EU. These engagements have resulted in an accumulation of social capital, expertise and organizational systems within the ACP Secretariat that provide a comparative advantage for knowledge generation, development policy analysis, capacity building and intra-ACP trade and investment.
One of the main building blocks of EU external relations, the Cotonou Partnership Agreement between the EU and the African, Caribbean and Pacific countries (ACP), is set to expire in 2020. Due to EU institutional evolution and changes in the global balance of powers, a renewal 'as is' of the agreement is not an option. There is a need to streamline ACP-EU relations, with new EU strategies in the regions concerned, and to adapt to the ACP countries' new ambitions. The issue of financing is also on the table.
Stakeholders have started discussions, focusing on the overlaps with other frameworks and the assets that should be kept or reformed. The main challenge for the EU is to keep its leverage in the region while remaining faithful to the values the EU Treaties promote. The EU's new relationship with the ACP countries will have to be consistent with recent strategic changes in its foreign policy, such as the EU global strategy.
Formal negotiations between the parties need to start in August 2018 at the latest. Further to a joint evaluation, the European Commission and the High Representative have put forward their preferred option: an umbrella agreement with tailored regional partnerships. To date, other stakeholders have not yet taken formal positions, but some discernible patterns are emerging.
One of Europe’s most remarkable external achievements is a comprehensive and legally binding international cooperation agreement that unites more than half of the world’s nation states. Signed in Benin in 2000, the Cotonou Partnership Agreement (CPA, commonly referred to as the ‘Cotonou Agreement’ or just ‘Cotonou’) intends to intensify the long-standing cooperation in politics, trade and development between the European Union (EU) and the countries of Africa, the Caribbean and the Pacific (ACP). This collaboration has led to the creation and evolution of unique institutions that facilitate ACP–EU cooperation among public officials, members of Parliament,
and many other partnership actors.
The changing global context, along with institutional, political and socioeconomic developments in the EU and the ACP, raise questions about whether this approach to cooperation has sufficiently delivered on its objectives, and which evolutions – or revolutions – may be necessary for these regions’ future cooperation. In recent years, various studies have examined this topic, mostly focusing on the Brussels-based ACP and EU representatives who manage and shape the cooperation. This paper seeks to complement existing evidence with the findings of a detailed review of the literature and the perceptions of past, present and future ACP–EU cooperation gathered from a wide range of stakeholders in ten ACP countries. With the CPA’s current cooperation framework scheduled to expire in 2020 it seems both warranted and timely to capture such perceptions for use in discussions about the future.
The analysis presented here is based on information collected in a structured survey of literature and semi-structured interviews with ACP officials in Brussels, as well as with a large variety of stakeholders in ten ACP countries – Botswana, Cameroon, Ethiopia, Ghana, Guyana, Nigeria, Suriname, Tanzania, Trinidad and Tobago and Zambia.
This brief is an update of a study which was initially released in 2011 by the International Trade Centre (ITC). The studied time frame covered the period of the economic crisis in 2008/2009 but not the recovery thereafter. With trade data available now until 2011, we have been able to add new export performance facts that show how the Commonwealth has emerged from the period of economic turmoil. In addition, data on trade agreements and tariffs have been updated for 2012.
The brief takes stock of the present export performance of the members, recognising their differences in terms of levels of development and the prevailing business climate. Commonwealth countries have also evidenced major differences in their economic and export performances in the context of the global financial crisis and during the subsequent recovery.
The brief analyses the wide range of trade agreements which Commonwealth members have engaged in. Based on an assessment of the market access conditions which prevail, the brief seeks to identify opportunities to engage in intra-Commonwealth agreements to enhance cooperation and trade amongst members.
Enhancing trade within the Commonwealth through improving market access would connect countries and citizens and therewith would provide a major impetus for the organisation. The Commonwealth Secretariat (ComSec) could be the key institution to prepare any possible agreement for facilitating market access. The Secretariat would also be tasked to ensure that any signed agreement conforms to other international obligations and commitments of the individual countries of the Commonwealth.
This report explores private sector development in the Caribbean region. The report is largely based on the analysis in the Private Sector Assessment Reports (PSARs) on 14 Caribbean countries. The PSARs were commissioned by
Compete Caribbean, a private sector development, technical assistance program funded by the Inter-American Development Bank, Canada’s Department of Foreign Affairs, Trade Development (DFATD), and the United Kingdom’s
Department for International Development. Compete Caribbean projects in the Organization of Eastern Caribbean States (OECS) countries are implemented in partnership with the Caribbean Development Bank. The Economist Intelligence Unit combined its own proprietary analysis and forecasting data with analysis from the PSARs to produce this comprehensive summary report. The PSARs explain the current situation of each of the Caribbean countries and present an overall assessment of private-sector development and recommendations for facilitating and accelerating private investment and growth. This report provides a summary of the key private-sector development issues noted in the PSARs, and approaches to overcoming these challenges.
The PSARs draw on both primary and secondary data sources. Primary data analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well as from interviews with regional
and international agencies. Secondary data were utilized to describe the state of each country at both the micro and macro level. In addition to these specific elements of the research, the development of the PSARs was assisted by
consultations organized under the Caribbean Growth Forum (CGF). The original PSARs were formatted and edited by The Economist Intelligence Unit at the request of the Compete Caribbean Program, but were not authored by The
Economist Intelligence Unit.
This paper discusses the ways in which legal, regulatory, and governance institutions affect business competitiveness in the Caribbean region through their effect on transaction costs, contracting, firm organization, and formality versus informality.
This paper provides a comprehensive overview of the competitiveness landscape of the five most developed CARICOM countries, namely Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. It builds on the findings of the most recent Global Competitiveness Index (GCI), featured in the World Economic Forum’s Global Competitiveness Report 2009–2010 (Sala-i-Martin et al., 2009). The remaining CARICOM members are not covered in this analysis as they were not included in the report. Through the lens of the GCI, areas that should be prioritized in the design of national competitiveness strategies will be highlighted.
This paper begins with a brief outline of the GCI methodological framework. We then describe the regional context by looking at the evolution of the CARICOM economies since their inclusion in the GCI in 2007–08. We also review their respective current performances in the GCI and its pillars, and compare them to some relevant countries and regions. The last part of the paper provides an in-depth appraisal of the competitiveness of Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago, and identifies areas requiring improvement for each of the five countries.
The financial sectors of most economies in the Caribbean remain underdeveloped and “thin” because they do not intermediate effectively between savers and investors. Furthermore, factors such as lack of collateral, poor credit information, and legal systems that favor large businesses and those with property particularly impede access to financing in the countries of the region. These factors make it difficult or impossible for many investors and entrepreneurs in the Caribbean to obtain financing for their businesses. While donors have been active in providing funds for investment, their interventions have been ad hoc. Furthermore, donor financing is not sustainable in the long term, and in some cases risk distorting financial systems, thereby hindering rather than encouraging financial market growth.
Currently, the fallout from the global financial crisis is casting further shadows on the economies and financial systems of Caribbean countries. While few economies in the region will experience bank failures, the high dependence on remittances, tourism and, in some cases, natural resources increases the fragility of an already vulnerable group of countries.
The purpose of this chapter is to examine issues that are central to financial market development in the Caribbean region. This report identifies factors that are required for financial markets to function effectively and describes policy options that could be implemented in the Caribbean to make financing more widely available.
The purpose of this paper is to apply new methodologies to analyze the history of and future opportunities for structural transformation in the Caribbean. We first look at the composition of exports from the Caribbean, and show that the region is specialized in relatively unsophisticated, "poor-country" export products, and this is not simply a consequence of their small size or specialization in tourism and financial services.
We then review the concept of the “product space” and determine where the Caribbean countries are specialized within this space. The results show that generally these countries export peripheral products that are intensive in capabilities with few alternative uses. In addition, we consider what effects regional integration would have on this opportunity set and show that future opportunities for structural transformation are much higher for the Caribbean Community
(CARICOM) as a perfectly integrated zone—higher than for any of its members on their own.
The final section discusses the policy implications of these results. We show that for almost all countries in the Caribbean there is a need to move to new export activities. Some countries in the region have a set of nearby activities they could exploit, including in the services sector, which suggests a parsimonious approach to promoting new activities is appropriate. This approach involves the government better orienting itself to learn what emerging sectors need in the way of publically provided inputs. But for many countries in the region, there are few nearby activities, suggesting a more proactive search process is necessary. In the appendix we apply the product space data to this search for nearby and more distant export activities for Belize and Jamaica. However, such data is merely a starting point for what must be a continuous process of high-bandwidth dialogue with the private sector to learn what is needed for new activities to emerge. We provide general design guidelines for such a dialogue, both for nearby and more distant activities, and we outline some specific initiatives as examples.
The discussion on the future of ACP-EU cooperation picked up pace in 2015, with both the EU and the ACP engaging in a soul-searching exercise and preparing their future positions. This complex policy process deserves a broad and evidence-based debate. The stakes involved in the review process are high:
• The Cotonou Partnership Agreement (CPA) links the EU and its 28 member states with a tri-continental group of 79 states. It is often hailed as a ‘unique’ agreement, taking into account its legally binding nature, holistic approach to development, comprehensive scope (covering the three pillars of aid, trade and political cooperation) and joint management arrangements. It offers a single framework for the operations of the European Investment Bank in the ACP (including through the Investment Facility).
• It guides the (intergovernmental) European Development Fund (EDF) providing predictable resources and accounting for a larger share of EU development aid than any other external instrument.
• It co-exists with a growing number of alternative (competing) policy and institutional frameworks (such as the Joint Africa-Europe Strategy) posing major challenges of policy coordination and coherence for the various partners involved.
In the review process the parties to the CPA – led by governments but including parliamentarians, civil society, private sector operators and local authorities – will need to address a set of existential questions that have arisen from the past fifteen years of CPA implementation and from important changes in the international context.
Euro sclerosis” was a term coined in the 1970s to describe stagnant integration, high unemployment, and slow job creation in Europe relative to the United States. Since then, the term has been used more generally to refer to overall economic stagnation. The term and that which it encompasses can be applied as well to a certain extent to the Caribbean countries. However, because these economies are small, the comparator to measure
“Caribbean sclerosis” would be some of the rest of small economies (ROSE) of the world. This group consists of about 50 countries each with a population of less than 3 million.
This report addresses several critical questions regarding these nations. Does size matter for economic growth and volatility? To what degree has Caribbean economic growth been inferior to that of ROSE? What could account for the Caribbean growth gap and what economic policies might decision-makers adopt to promote higher and sustainable growth? The answers to these questions will support the overarching hypothesis that the Caribbean suffers sclerosis.
The almost-exclusive focus on economic growth in this report does not imply that it should be the sole criterion to judge economic performance. Nevertheless, economic growth is the central concern of Caribbean policymakers, who recognise that it is critical to improve broad economic development, and hence to improve the welfare of Caribbean citizens.
The central focus here is on six countries in the region, which will be referred to as the C6:The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. However, the analysis will sometimes include, most often in the aggregate, the countries of the Organisation of Eastern Caribbean States (OECS). The six members of the OECS used in this report are Antigua and Barbuda, the Commonwealth of Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
Economic performance is judged both over time and with respect to ROSE. However, the Caribbean countries can be categorised as dependent on either tourism or commodities, so wherever
possible we compare commodity (tourism) Caribbean countries with commodity (tourism) countries among ROSE.
The chefs profiled in this book are championing the effort of making local cuisine part of the tourism experience, building demand for local foods and training the next generation of local chefs. Working closely with farmers, they are transforming value chains to meet the high standards required by the hotel industry and in doing so are raising the incomes and improving the livelihoods of farmers.
The primary aim of this study was to document eleven successful cases of trade linkages in the Caribbean between agribusinesses and buyers in the tourism sector that can be up-scaled and/or replicated. The case studies were drawn from five selected Caribbean countries, namely: 1. Grenada; 2. Haiti; 3. Jamaica; 4. Saint Lucia; 5. Suriname. It is expected that the documentation of these successful Caribbean experiences will serve to enrich the exchange of knowledge between the Caribbean and the Pacific regions as well as with other countries in Africa, and ultimately contribute positively to economic growth and sustainable rural livelihoods through the promotion of trade between the agri-food and tourism sectors in both regions.
This report presents a summary of research about small- and medium-sized enterprise (SME) engagement in public procurement. Strategies to increase women-owned enterprises‘ understanding about, and access to, government contract opportunities are also considered. This research digest is expected to inform discussion among WEConnect Canada, community partners and governments about the constraints and opportunities of public procurement for SMEs, and in particular women-owned enterprises.
To inform stakeholders, this digest entails a review of secondary research drawn from government, NGO, and academic databases. Requests for related studies were also forwarded to scholars, research institutes, SME training and consulting organizations, and trade associations. Ten exploratory and anonymous interviews with policy experts and suppliers were conducted. The report suggests that strategic SME procurement policy is an under-utilized mechanism to enhance supplier diversity and hence, Canadian competitiveness. Furthermore, Canada will not remain a world leader without results-oriented and gender-sensitive economic policy. This is because the drivers of competitiveness are reflected in the ability of nations to leverage human and managerial capital, embrace innovation, ensure that all businesses are tapped into public and international market opportunities, and to establish sound financial and economic policy frameworks. It is also recognized that the growth of small and medium-sized enterprises (SMEs) is linked to Canadian prosperity and new job creation.
This report aims to help unlock business opportunities that advance the health, rights, and wellbeing of women in global value chains. It highlights the benefits of investing in women along the value chain and provides a framework for action and practical guidance for companies to identify and strengthen value-chain investment opportunities that deliver positive returns to business, women, and society. This report is not an exhaustive analysis of the ways companies impact women’s empowerment, or the way women’s empowerment impacts businesses. Rather, it should serve as an inspirational guide to help both new and experienced companies develop effective approaches to women’s empowerment. While the report is designed for a diverse industry audience, some examples and recommendations may be more relevant to consumer products companies with a strong manufacturing supply chain than service companies.
This report builds on a number of studies that emphasize the importance of a holistic and integrated approach to women’s empowerment, including a recent report on building effective women’s economic empowerment strategies published by BSR and the International Center for Research on Women and commissioned by the Oak Foundation.1 It also draws on a review of the latest literature on corporate engagement in women’s empowerment and a series of interviews with companies to test the framework and gather insights on key gaps, opportunities, and solutions. It also incorporates feedback and perspectives from participants at the private sector pre-conference held prior to the global Women Deliver conference in May 2016. For more information, please contact Indiana Vieljeux (email@example.com).
The Private Sector Assessment Report (PSAR) for Barbados provides a comprehensive overview of the country’s private sector. IIt draws on both primary and secondary primary data sources. Primary analyses were derived from interviews with key stakeholders from the domestic and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country reports. Secondary data were utilised to describe the state of country at both micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF) banner.
The PSAR evaluates the primary components of the productive sector, the key challenges to private-sector development, potential emerging sectors and policy recomendations for priority areas. It is envisioned that the document can be used as a launch pad for multi-sectoral and inclusive discusions on the key issues impacting private-sector developmnent and how they should be incorporated into the national agenda.
The Private Sector Assessment Report (PSAR) describes the current state of Dominica's private sector. It draws on both primary and secondary primary data sources. Primary date analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country report. Secondary data were utilised to describe the state of country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF) during 2013. The PSAR identifies the components of the productive sector, challenges to private-sector development and emerging sectors and presents an action plan for enhancing private-sector development.
The Private Sector Assessment Report (PSAR) for St. Vincent and the Grenadines presents an overall assessment of the private-sector development and policy recommendations for facilitating and accelerating private-sector investment and growth. It draws on both primary and secondary data sources. Primary data analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well as interviews with regional and international agencies. A listing of the main stakeholders interviewed is documented in the original country reports. Secondary data were utilized to describe the state of the country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum2 (CGF) banner.
The PSAR evaluates the productive sector, together with the primary obstacles to business in St. Vincent and the Grenadines and the wider Organization of Eastern Caribbean States (OECS) that have emerged from the business environment and recent shocks. The report also assesses the subregion's policy response, partcularly through the implementation of an eight-point stabilization programme targeting national needs and overarching challenges relating to the public finances, debt, socil safety, investment and the financial services sector.
The Private Sector Assessment Report (PSAR) for St. Kitts and Nevis provides a comprehensive overview of the country's private sector. It draws on both primary and secondary primary data sources. Primary date analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country report. Secondary data were utilised to describe the state of country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF). The PSAR evaluates the components of the productive sector, the key challenges, potential emerging industries and policy recommendations for priority areas. The PSAR also suggests improvements to the general political and governance issues, access to finance, the cost of electricity and labour market issues as being vital in terms of driving future growth.
The Private Sector Assessment Report (PSAR) Provides a comprehensive overview of the private sector in Antigua and Barbuda. It draws on both primary and secondary primary data sources. Primary date analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country report. Secondary data were utilised to describe the state of country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF). The PSAR evaluates the primary components of the productive sector, the key challenges that it faces, potential emerging sectors and finally policy recommendations for priority areas. The PSAR identifies improvements in the areas of general governance, access to finance, general costs, and transportation and trade as being vital in terms of driving future growth.
Part 2 of Commonwealth Trade Review sheds light on the trends, nature and potential of intra-Commonwealth trade. It provides an analysis of trade between Commonwealth members – both in goods and services and in terms of intra-Commonwealth foreign direct investment (FDI) and remittance flows. It also undertakes empirical assessments of determinants of trade and investment flows between global economies to find out whether there is any inherent ‘Commonwealth effect’ providing impetus to increased trade propensity between Commonwealth members. It also provides some quantitative assessment of further trade prospects between Commonwealth members.
The European Union’s Economic Partnership Agree-ment (EPA) with fifteen Caribbean states came into effect in 2008. The deal was negotiated jointly by the members of the Caribbean Community (CARICOM: Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago) and the Domini-can Republic, operating jointly as the Caribbean Forum of African, Caribbean and Pacific States (CARIFORUM).
The document’s objective, as already laid out in the Cotonou Agreement of June 2000, extends far beyond the usual scope of a free trade agreement. The Euro-pean Union’s economic partnership agreements with African, Caribbean and Pacific states (ACP states) are explicitly intended to serve the ultimate objective of sustainable development, promote integration within the partner region, and link trade policy with develop-ment instruments. In other words, the European Union and the ACP states are seeking to establish a new class of agreement that moves beyond purely economic goals to address the sustainability factors that the international community has agreed to prioritise: social equilibrium and respect for the environment.
The report revisits the theme of low Caribbean growth, viewed through a macroeconomic lens in our previous report (Is there a Caribbean Sclerosis?), but takes a microeconomic perspective by using firm-level data. The performance of the private sector is crucial for a country’s economic growth and employment generation. As such, the results of the analysis are not comforting. In terms of sales growth, employment growth, efficiency, and total factor productivity, the Caribbean underperforms the rest of the small economies of the world. The gap is larger for commodity-dependent economies (Guyana, Suriname, and Trinidad and Tobago) than for tourism-dependent economies (Barbados, Jamaica, and The Bahamas). Thus, the existing Caribbean business sector is not up to the challenge to increase the region’s economic growth and employment and hence, to increase public resources and improve the welfare of citizens in the region.
Why? The report uses multiple approaches to identify the constraints to the private sector, constraints include the role of firm characteristics and constraints, including international trade and foreign direct investment, financing, crime, inadequate labour, electricity issues, lack of innovation, gender disparity, and government policies that are not good for business. The study estimates the contribution to the performance gap of the region’s existing endowments (i.e., the characteristics and constraints of the firms) as well as the returns to those characteristics and constraints. It finds that the returns contribute more to the gap than do characteristics and constraints themselves.
This paper estimates the trade, revenue, and welfare effects of the proposed Caribbean Community (CARICOM)–Canada free trade agreement (FTA) on CARICOM countries using a partial equilibrium model. The welfare analysis also takes into account the Economic Partnership Agreement, which was signed in 2008 by the CARIFORUM (CARICOM and the Dominican Republic) countries and the European Union. The revealed comparative advantage index, trade complementarity index, and transition probability matrices are used to examine the dynamics of comparative advantage for CARICOM countries’ exports to Canada. The results obtained from the partial equilibrium model indicate adverse revenue and welfare effects for CARICOM member states. The results from various trade indices used do not provide evidence to suggest that an FTA between CARICOM countries and Canada can improve trade outcomes.