Small Island Economies

Overview

This is an especially impressive study, one really without equal in terms of its coverage and sophistication. . . . While the analysis is predominately neoclassical, it is sensibly and sensitively done, and there is much to be learned from these pages on the immense difficulties involved in designing and implementing appropriate small-state economic policy. The tug of economic reality facing small economies in an open-world economy make the push coming from internal interests a real balancing act, as Worrell ...

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Overview

This is an especially impressive study, one really without equal in terms of its coverage and sophistication. . . . While the analysis is predominately neoclassical, it is sensibly and sensitively done, and there is much to be learned from these pages on the immense difficulties involved in designing and implementing appropriate small-state economic policy. The tug of economic reality facing small economies in an open-world economy make the push coming from internal interests a real balancing act, as Worrell appreciates. There are other points one might have liked Worrell to have touched upon, but this work is really in a class by itself; there is no other general economic study of the region that is even remotely comparable. Choice

Dr. Worrell has been Director of Economic Research at the Central Bank of Barbados for over ten years. During this time he has observed firsthand the economic fluctuations in the Caribbean, advised the Barbados Government on policy, and written about the issues. Small Island Economies offers the author's reflections on the English-speaking Caribbean's economic performance during the last fifteen years. This insightful volume will be of use to specialists of developing and comparative economies and third world scholars, as well as those concerned with present-day international relationships.

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Product Details

  • ISBN-13: 9780275927950
  • Publisher: ABC-CLIO, Incorporated
  • Publication date: 10/30/1987
  • Pages: 306
  • Lexile: 1360L (what's this?)
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.75 (d)

Meet the Author

DELISLE WORRELL is currently Director of Research and Information, Central Bank of Barbados.

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Table of Contents

Economic Performance and Structure in the Caribbean

The Caribbean: The World Environment after 1970

Growth and Stabilization in Barbados

The Impoverishment of Guyana

Economic Decline in Jamaica, 1970-84

Trinidad and Tobago: Consequences of the Oil Boom

The Microstates: Adjustment without Policy Intervention

Economic Integration, Growth and Stabilization

Adjustment Policies in Small Open Economies: Lessons from the Caribbean Experience

Appendix A: Analysis of Domestic and External Effects on the Balance of Payments

Appendix B: Model for Economic Forecasting in the Caribbean (with Carlos Holder)

Appendix C: Fiscal, Monetary and Exchange Rate Policies in the Caribbean

Appendix D: External Debt and Debt Service in the Caribbean

Appendix E: Protection, Incentives and the Growth of Caribbean Manufacturing

Appendix F: A Methodology for Simulating the Effects of External Shocks

References

Index

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