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Book Cover
Author Thacker, Nita.

Title Caribbean growth in an international perspective : the Role of Tourism and Size / prepared by Nita Thacker, Sebastian Acevedo, and Roberto Perrelli
Published [Washington, D.C.] : International Monetary Fund, ©2012


Description 1 online resource (35 pages)
Series IMF working paper ; WP/235
IMF working paper ; WP/12/235.
Contents Cover; Contents; I. Introduction; II. Catching Up or Falling Behind? A Caribbean Tale; Figures; Figure 1. Caribbean: Ratio of Per capita GDP (PPP) to Relevant Comparators, 1970-2009; III. Accounting for Growth in the Caribbean; A. Analytical Framework; B. Growth Accounting Results; Figure 2. ECCU: Contributions to Growth, 1970-2007; Figure 3. Other Caribbean: Contributions to Growth, 1970-2007; C. Level Accounting Results; IV. The Tourism and Growth Nexus in the Caribbean; A.A Brief Review of the Literature; B. The Proposed Econometric Approach; C. The Impact of Tourism on Growth Levels
Figure 4. Caribbean: Factors Contributing to Caribbean Growth vis-à-vis the WorldD. The Impact of Tourism on Growth Volatility; E. Tourism, Size and Growth Accounting; V. Concluding Remarks; References; Appendix: Data and Variables; Tables; Table 1. ECCU: Growth Accounting 1970-2007; Table 2. Other Caribbean: Growth Accounting 1970-2007; Table 3. ECCU: Output Growth and its Components: Ratio to Barbados Values, 1970-2007; Table 4. Other Caribbean: Output Growth and its Components: Ratio to Barbados Values, 1970-2007
Table 5. ECCU: Output Growth and its Components: Ratio to U.S. Values, 1970-2007Table 6. Other Caribbean: Output Growth and its Components: Ratio to U.S. Values, 1970-2007; Table 7. Tourism and Growth Estimations; Table 8. Tourism and Small Islands Interaction Estimations; Table 9. Tourism and Growth Estimations Robustness; Table 10. Growth Volatility Estimations; Table 11. Growth Accounting Estimations; Table 12. List of Countries
Summary After earlier success, growth performance in most Caribbean countries has been disappointing since the early 1990s. With slower growth, output has fallen behind that of relevant comparator countries. This paper analyzes the growth experience of the Caribbean countries from a cross country perspective. Three findings stand out. First, the slowdown in growth is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many countries there is scope for further expansion of this sector. Third, the small size and the fact that most of these countries are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and regional integration could pay dividends in terms of higher growth in the region
Notes Title from PDF title page (IMF Web site, viewed Sept. 28, 2012)
Bibliography Includes bibliographical references
Notes "Western Hemisphere Department."
"September 2012."
Subject Economic development -- Caribbean Area
Tourism -- Caribbean Area
Industrial productivity -- Caribbean Area
BUSINESS & ECONOMICS -- Economics -- General.
Economic development.
Industrial productivity.
tourism development.
economic growth.
développement touristique.
croissance économique.
desarrollo turístico.
crecimiento económico.
Caribbean Area.
Genre/Form IMF pub.
pub FMI.
pub FMI.
Form Electronic book
Author Acevedo, S. (Sebastian)
Perrelli, Roberto
International Monetary Fund. Western Hemisphere Department.
ISBN 9781475512083