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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Chief Economist for Latin America and business leaders will discuss successes and challenges for the region’s private sector at Wall Street Journal event MIAMI, Florida, Dec. 5, 2013 – Latin America and... Show More + the Caribbean is a region of entrepreneurs. The share of business owners per capita is larger than in other regions at similar income levels. Still, according to a new World Bank report, “Latin American Entrepreneurs: Many Firms but Little Innovation,” the region’s future will depend on having more “transformational” entrepreneurs than it has today. According to the report, nearly one of every three workers in the region is self-employed or a small employer and, contrary to popular belief, the share of formally registered firms is also comparably large. But few of these entrepreneurs ever hire workers. Most remain very small even after decades of operation. “The fact that there are so many small firms may be a symptom of an unhealthy imbalance – too many firms with low growth potential Show Less -