After four decades of little or not growth, the Jamaican economy is expected to grow at 1-2% over the medium term. The country is confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment.
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Information and Communication Technologies - ICTs - are seen as a key driver of economic growth, however major gaps in ICT infrastructure are hampering competitiveness efforts in the Caribbean, according... Show More + to a new study.While access to mobile phone services have increased in the region, a similar growth has not been seen in broadband coverage, meaning markets in the region are very much underdeveloped.This knowledge series explores the difference a customized approach to ICT development could have on growth in the region, concluding that strategies, policy and regulations should be developed for each country according to their respective level of ICT development. Show Less -
The quality and relevance of education is paramount to achieving economic growth. In fact, it is believed that a single standard deviation in test scores between countries equates to 2 percentage points... Show More + in annual long-term GDP growth.Countries across the Caribbean have taken significant strides to increasing primary and secondary school enrollment. However, with the economic landscape changing rapidly, the key to achieving sustained growth in the region is quality education, which prepares students for the labor market.Analysing data from across the educational spectrum , the report sets out the reasons behind the low quality of education in the Caribbean and provides practical solutions to help ensure the next generation are suitably skilled for the 21st century. Show Less -
With highly open economies, trade accounts for over 100% of GDP in several English-speaking Caribbean countries. Given such a dependence on exports and imports, it is essential that the channels connecting... Show More + the region to the rest of the world function correctly.However, despite the Caribbean’s integration into the global economy, Customs performance is comparatively low. Furthermore, the impact of custom systems on economies in the Caribbean also affects the countries’ capacity to attract investors, increase capacity and boost exports.Analysing the role trade plays within the English-speaking Caribbean, this report shows how the above factors are critical and in order to increase competitiveness and growth, Customs systems in the region need to be improved. Show Less -