Exchange rate regimes in the Caribbean

This document analyses exchange rate regimes in the Caribbean subregion. Caribbean exchange rate regimes are typified into hard and soft pegs. Hard pegs refer to those arrangements that maintain a constant value of the domestic currency in terms of the currency of a major trading partner. The Organisation of Eastern Caribbean States (OECS); economies established a monetary union in 1983. The Bahamas, Belize and Barbados also fixed the value of their domestic currency in relation to the United States dollar in the middle of the 1970s. Soft pegs are monetary arrangements characterized by a force…

Report of the Grenada national yachting consultation

The Economic Commission for Latin America and the Caribbean (ECLAC); Subregional Headquarters for the Caribbean embarked on a project Development of a Subregional Marine-based Tourism Strategy in 2001. The project, co-funded by the Government of the Netherlands, is aimed at the development of sustainable yachting tourism in the Eastern Caribbean and focuses on the island arc from the British Virgin Islands in the north to Trinidad and Tobago in the south. The project includes the conduct of national studies in the British Virgin Islands, St. Maarten, Antigua and Barbuda, Saint Luci…

The development of services in the Caribbean

The services sector has grown significantly in most countries and in the world economy as a whole. This has been observed in the progression from primary to secondary and/or tertiary sector-led economic growth and development. Services contribute significantly to output, employment and exports. They account for about 80% of the United States output (GDP) and about 65% of GDP of the European Union. Developed countries are the largest service exporters accounting for over 70% of services traded in the late 1990s. Although developing countries account for a relatively smal…

The production of statistical data and information in the Caribbean: proposals for increasing efficiency in this sphere

Introduction Much has been written on the difficulty of obtaining statistical data on the Caribbean. Many commentators have examined the problem from several angles, including the organization of the statistical offices, the issue of training and the issue of budgetary resources that impose an upper limit to the size of staff that can be employed at the statistical office. While there is much to say about any of the issues given as examples of the facets of the problem, in the final analysis the management of limited statistical resources is at the core of the data poverty. Th…

Food Security Issues for Caribbean

The development of science and technology indicators in the Caribbean

Developed countries have for a long time collected statistics on science and technology (S&T); activities and their contribution to development and have also focused on how interpretation of these statistics could inform policy. In addition, these indicators, as they are called, have been used to determine and compare the relative positions of the various countries in the global economy. For such comparisons to be meaningful, however, it was necessary to standardize the units and methodologies. That process led to the development and adoption of a number of manuals, namely, Frascati, Oslo …

Review of Caribbean Economies in 2001

Global economic developments, 2000-2001

Executive Summary The global economy is experiencing a recession, which originated in the United States and is affecting developed and developing economies alike. Between the second and third quarter of 2001, the United States GDP growth rate decreased from 2.6 per cent to 1.2 per cent. For the same period, the European Union's GDP growth rate declined from 2.4 per cent to 1.7 per cent. For Latin America and the Caribbean the growth will fall from 4 per cent in 2000 to 1 per cent in 2001. A central issue regarding the current recession is whether it will be short lived or rather …

The Netherlands Antilles: trade and integration with CARICOM

Introduction The Netherlands Antilles is an autonomous entity within the Kingdom of the Netherlands and comprises a federation of five Caribbean islands: Bonaire and Curacao (the Leeward islands) which comprise 80 per cent of the population of 211,000 and Saba, St. Eustatius and the southern part of St. Maarten (the Windward islands). Like the other countries in the Kingdom, it enjoys full autonomy in internal matters as, for example, education, public health, justice and customs. It has a per capita income of about US$ 12,000. The Leeward Islands and the Windward Islands account for a…

Quality of life: a compendium of social statistics of five Caribbean countries (1995-2001)

Abstract Quality of Life: A compendium of selected social statistics of five Caribbean countries (1995-2001), is the second in a series on social statistics to be published by the Economic Commission for Latin America and the Caribbean/Caribbean Development and Cooperation Committee (ECLAC/CDCC) secretariat. The first was published in December 1995, entitled Selected demographic and social statistics, 1960- 1994, and was based on the population census data. This compendium of selected social statistics of five Caribbean countries is the first output of the fully searchable subregional…

Status of implementation of the System of National Accounts (SNA) 1993 in selected Caribbean countries

Abstract The Caribbean countries have for decades been described as being data poor . The inability of the countries to provide, in a number of areas, data on certain issues of national or world importance has its roots in the poor information infrastructure that characterizes the Caribbean countries. The national accounts are designed to provide information on almost every aspect of national life that must be of interest to the administration and citizenry alike. This paper looks at the countries' implementation of the United Nations System of National Accounts (SNA); from th…

Report on the production of trade statistics in the Caribbean region

Summary 1. The statistics offices in the region utilize state of the art technology for processing their trade data, and report producing statistics on a regular basis. The periods of publications are monthly, bi-monthly, quarterly, annually, and semi-annually, but vary amongst countries. 2. The warrants presented by importers and exporters to the customs departments for the clearance of goods is the main source of trade data in each country. After checking and processing, a copy of the warrants is placed in batches and forwarded to the statistics office, usually on a monthly basis. In some co…

Summary of "Report of Ad-Hoc Expert Group Meeting to consider recent Implementation Exercises of the General Data Dissemination System of the IMF

Trade, environment and development: implications for Caribbean countries

Introduction Trade and development issues have been the focus of economists, policy makers and international organizations for decades. However, environmental concerns have only come to the fore within the last couple of decades largely as a result of the work of scientists on, for example, climate change and loss in biodiversity as well as the lobbying activities of environmental groups, such as Greenpeace. The linking of environment to trade only gained international prominence since the negotiations for the Canada-United States Free Trade Area in the 1980s. However, although enviro…

The impact of privatisation on the banking sector in the Caribbean

Introduction With the failure of the import-substituting industrialisation policies of the post-war period, Caribbean countries shifted to an export-promotion strategy in the 1980s. Export promotion inevitably demanded a shifting of the relative price and productivity of tradable goods and services. To provide the necessary incentives for export promotion, countries pursued a mixture of reforms and restructuring to attract investment and to promote the competitiveness of production and exchange. The period also coincided with a shift in the development paradigm of the developed countri…

Application of the concepts of agro-tourism, agricultural diversification and food and nutrition for the development of Caribbean communities with reference to standards and priority setting

Introduction There is a renewed call for a new approach to development with emphasis on community empowerment or participation, with the belief that more sustainable activities will be undertaken in those communities. Much of that call, however, is coming not from within the communities, but primarily from advocates of change who may have little to do with those communities. What then will the new approach bring apart from a change in who are the decision-makers? And how do we ensure that the change that is called for will, in fact, bring added benefits to the communities themselves? To be sur…

Trade and investment flows between the Caribbean and the rest of the hemisphere in the context of the FTAA

Introduction The evolution of trade and investment flows between the Caribbean and the rest of the western hemisphere has been influenced by historical incorporation into the world economy and changes over time. The most important historical factor was the incorporation of the region into the international capitalist economy as producers and exporters of primary products and importers of technology, manufactured goods and finance. This pattern of specialisation and exchange led to exports of primary goods such as sugar,bananas and minerals (oil and bauxite);. Investment flows followed trade an…

Establishing social statistical databases for evidenced-based social policy formulation in the Caribbean

Abstract The paper presents the challenges and lessons learnt from the Project Development of Social Statistical Databases and the Methodological Approaches for a Social Vulnerability Index (SVI); for Small Island Developing States' (NET/00/035);, which was undertaken by the Social Development Unit of the ECLAC/CDCC secretariat. The Project aims to make available to social planners and decision makers in the Caribbean, a body of social statistics comprised of data sets being generated by national central statistical offices of the ECLAC/CDCC member States. The paper situates the Pro…

Caribbean SIDS Prepare for Johannesburg 2002 - The World Summit on Sustainable Development

ECLAC Hosts Third United Nations Inter-Agency Collaboration Meeting in Trinidad and Tobago