A Meta-Analysis of the Relationship between Debt and Growth

Can debt be used to finance growth? This question has stimulated a number of research papers, seminars and conferences. To date, however, no clear answer to the question is available. This paper attempts to answer the question using meta-analysis. Meta-analysis allows researchers to combine the results from both published and un-published research to gain insights regarding the directional and statistical significance of the relationship between the two variables. The results from the study should be of interest to policymakers and academics.Debt; Economic Growth; Meta-Analysis

Trade Openness And Inflation: Panel Data Evidence For The Caribbean

High rates of inflation are a recurrent problem in Caribbean countries. Statistics show that small open developing economies, like those in the Caribbean, are relatively open when compared to more developed countries. Romer (1993) noted that global developments negatively influence inflation thus causing a negative link with trade openness. This paper re-examined this relationship for 8 Caribbean countries over a 30-year period. The validity of Romer’s (1993) main result is investigated using a modern panel data approach. The results showed that openness positively influences inflation and validated the notion that the Caribbean countries are vulnerable to external shocks

A Meta-Analysis of the Relationship between Debt and Growth

Can debt be used to finance growth? This question has stimulated a number of research papers, seminars and conferences. To date, however, no clear answer to the question is available. This paper attempts to answer the question using meta-analysis. Meta-analysis allows researchers to combine the results from both published and un-published research to gain insights regarding the directional and statistical significance of the relationship between the two variables. The results from the study should be of interest to policymakers and academics

A Meta-Analysis of the Relationship between Debt and Growth

Can debt be used to finance growth? This question has stimulated a number of research papers, seminars and conferences. To date, however, no clear answer to the question is available. This paper attempts to answer the question using meta-analysis. Meta-analysis allows researchers to combine the results from both published and un-published research to gain insights regarding the directional and statistical significance of the relationship between the two variables. The results from the study should be of interest to policymakers and academics

Finding New Tourism Opportunities: Finally Looking South?

In this policy brief, we examine the current tourism product in the CARICOM member states with a particular focus on the economies that rely most on the industry. The analysis shows that the tourism industry has steadily declined since the 2008 financial crisis and the introduction of the Air Passenger Duty by a main source market, the United Kingdom. Expanding the tourism source markets to emerging economies could reduce the vulnerability of the sector and create greater potential for value chains and increased trade with new commercial partners.

The macroeconomic effects of oil price fluctuations on a small open oil-producing country: The case of Trinidad and Tobago

Using vector autoregressive (VAR) methodology, this paper empirically investigates the macroeconomic effects of oil price fluctuations on Trinidad and Tobago. Overall, we find that the price of oil is a major determinant of economic activity of the country. Our impulse response functions suggest that following a positive oil price shock, output falls within the first two years followed by positive and growing response. We also investigate the macroeconomic impact of oil price volatility. Results suggest that an unanticipated shock to oil price volatility brings about random swings in the macroeconomy; however, only government revenue and the price level exhibit significant responses. With regard to the magnitude of the responses, shocks to oil price volatility tend to yield smaller macroeconomic impacts in comparison to shocks to oil prices. Variance decompositions suggest that the price of oil is a major component of forecast variation for most macroeconomic variables. Finally, Granger-causality tests indicate causality from oil prices to output and oil prices to government revenue.Oil price fluctuations Innovation accounting Trinidad and Tobago

Caribbean Region Quarterly Bulletin: Volume 3: Issue 1: January 2014

The Quarterly Bulletin analyzes recent economic developments of The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. The Special Country Reports consider trends in tourism, and policy options for the sector. For Guyana, the report examines one of this country's main sources of external income: remittances from citizens living abroad. For Suriname, the report discusses options for establishing fiscal discipline and attracting private sector participation in the country's development amid increasing expectations. The Bulletin also includes a section on recent developments in the countries of the Organization of Eastern Caribbean States (OECS).

Caribbean Region Quarterly Bulletin: Volume 3: Issue 2: May 2014

The Caribbean Region Quarterly Bulletin discusses recent economic developments and analyzes the topic of external sustainability in the 6 IDB-member Caribbean countries, as well as the Organization of Eastern Caribbean States (OECS). The countries are: The Bahamas, Barbados, Guyana, Jamaica, Suriname and Trinidad and Tobago. The regional supplement, entitled "Kundalini Falling: Intertwined Fiscal and External Sustainability", discusses the impact of a possible low-probability event. Specifically, the risk of unexpected rises in interest rates in the United States and the decline of growth in China are directly relevant to the Caribbean region. The supplement explores these risks and assesses whether economies in the Caribbean region are prepared to weather such exogenous shocks.