This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.
Banks across the Caribbean have lost important Correspondent Banking Relationships (CBRs). The macroeconomic impact has so far been limited, in part because banks either have multiple relationships or have been successful in replacing lost CBRs. However, the cost of services has increased substantially, some services have been cut back, and some sectors have experienced reduced access. Policy options to address multiple drivers, including lower profitability and risk aversion by global banks, require tailored actions by several stakeholders.
This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.
The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A case study of a highly indebted country with domestically held debt, the paper discusses the conditions leading to the exchange, the rationale behind it, as well as its operational aspects. Achievements of the exchange, too, are discussed in detail. The paper also outlines the risks stemming from the high levels of debt—which continue to remain high—requiring prompt and coordinated action by policymakers if the legacy of the debt exchange is to be preserved.
The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.
The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.
Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
This paper examines economic developments and policies in Canada during 1990–95. Spurred by the robust growth in the United States and the easing of monetary conditions between 1991 and 1993, economic growth in Canada continued to strengthen during 1994. Real GDP grew by 4.5 percent in 1994 after growing by 2.2 percent in 1993 and 0.6 percent in 1992. Economic growth in 1994 was led by exports and investment in machinery and equipment. However, growth was more broadly based in 1994; private consumption strengthened, and there was a rebound in residential and nonresidential construction.
This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.
Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.
The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.
This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.
The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A case study of a highly indebted country with domestically held debt, the paper discusses the conditions leading to the exchange, the rationale behind it, as well as its operational aspects. Achievements of the exchange, too, are discussed in detail. The paper also outlines the risks stemming from the high levels of debt—which continue to remain high—requiring prompt and coordinated action by policymakers if the legacy of the debt exchange is to be preserved.
As with any enterprise involving violence and lots of money, running a plantation in early British America was a serious and brutal enterprise. Beyond resources and weapons, a plantation required a significant force of cruel and rapacious men men who, as Trevor Burnard sees it, lacked any better options for making money. In the contentious Planters, Merchants, and Slaves, Burnard argues that white men did not choose to develop and maintain the plantation system out of virulent racism or sadism, but rather out of economic logic because to speak bluntly it worked. These economically successful and ethically monstrous plantations required racial divisions to exist, but their successes were always measured in gold, rather than skin or blood. Burnard argues that the best example of plantations functioning as intended is not those found in the fractious and poor North American colonies, but those in their booming and integrated commercial hub, Jamaica. Sure to be controversial, this book is a major intervention in the scholarship on slavery, economic development, and political power in early British America, mounting a powerful and original argument that boldly challenges historical orthodoxy."--
“An important contribution . . . invaluable to anyone interested in the history of pragmatism and the influence of biology and evolution on pragmatic thinkers.” —Richard J. Bernstein, The New School for Social Research, author of The Pragmatic Turn In Pragmatism’s Evolution, Trevor Pearce demonstrates that the philosophical tradition of pragmatism owes an enormous debt to specific biological debates in the late 1800s, especially those concerning the role of the environment in development and evolution. Many are familiar with John Dewey’s 1909 assertion that evolutionary ideas overturned two thousand years of philosophy—but what exactly happened in the fifty years prior to Dewey’s claim? What form did evolutionary ideas take? When and how were they received by American philosophers? Although the various thinkers associated with pragmatism—from Charles Sanders Peirce to Jane Addams and beyond—were towering figures in American intellectual life, few realize the full extent of their engagement with the life sciences. In his analysis, Pearce focuses on a series of debates in biology from 1860 to 1910—from the instincts of honeybees to the inheritance of acquired characteristics—in which the pragmatists were active participants. If we want to understand the pragmatists and their influence, Pearce argues, we need to understand the relationship between pragmatism and biology. “Pragmatism’s Evolution is about the role of evolution, as a theory, in American pragmatism, as well as the early evolution of pragmatism itself.” —Isis “Superb.” —Metascience “[An] important book.” —Acta Biotheoretica “A significant and edifying work.” —Choice “Pearce has done something remarkable and all too rare: written a book at the intersection of philosophy, science, and history that is equally excellent in all three respects.” —International Journal of Philosophical Studies
Eighteenth-century Jamaica, Britain's largest and most valuable slave-owning colony, relied on a brutal system of slave management to maintain its tenuous social order. Trevor Burnard provides unparalleled insight into Jamaica's vibrant but harsh African and European cultures with a comprehensive examination of the extraordinary diary of plantation owner Thomas Thistlewood. Thistlewood's diary, kept over the course of forty years, describes in graphic detail how white rule over slaves was predicated on the infliction of terror on the bodies and minds of slaves. Thistlewood treated his slaves cruelly even while he relied on them for his livelihood. Along with careful notes on sugar production, Thistlewood maintained detailed records of a sexual life that fully expressed the society's rampant sexual exploitation of slaves. In Burnard's hands, Thistlewood's diary reveals a great deal not only about the man and his slaves but also about the structure and enforcement of power, changing understandings of human rights and freedom, and connections among social class, race, and gender, as well as sex and sexuality, in the plantation system.
Drugs and the Future presents 13 reviews collected to present the new advances in all areas of addiction research, including knowledge gained from mapping the human genome, the improved understanding of brain pathways and functions that are stimulated by addictive drugs, experimental and clinical psychology approaches to addiction and treatment, as well as both ethical considerations and social policy. The book also includes chapters on the history of addictive substances and some personal narratives of addiction. Introduced by Sir David King, Science Advisory to the UK Government and head of the Office of Science and Technology, and Nora Volkow, director of the National Institute on Drug Abuse in the USA, the book uniquely covers the full range of disciplines which can provide insight into the future of addiction, from genetics to the humanities. Written for a scientific audience, it is also applicable to non-specialists as well. Provides an unique overview of what we know about addiction, and how scientific knowledge can and should be applied in the societal, ethical, and political context Applies the state-of-the-art research in fields such as Genomics, Neuroscience, Pharmacology, Social Policy and Ethics to addiction research Includes a preface by Sir David King, Science Advisory to the UK Government and head of the Office of Science and Technology, and in introduction by Nora Volkow, director of the National Institute on Drug Abuse in the USA
It is a story of a poor boy who rose from meager means to become president of two universities. The theme demonstrates that faith in God can make a difference in motivating and inspiring. The story is simple and covers both good and bad experiences. It identifies people who I considered hindrances but who were able to help in my development despite what I felt towards them. I am a piece of clay, shaped and molded into what I am today.
COULD YOU BE LOVED is of all Humankind acknowledging shared origin for Progress with Peace. " . . insightful . . incisive and instructive . . a beautiful poetic move . . brilliant . . author, poet, philosopher Tekla Mekfet relates Bob Marley's poetics to African philosophy, the Bible and the problems of Babylon as we encounter them in Jamaica and the world. . . helps to resolve the tension between the individual and the community, in Rasta poetics . . Historical memory . . clues to liberation in the present. Out of history and prophecy . . philosophy in Rastafari offers unaccustomed wide practical application." (Dr. Noel Erskine, Professor of Theology & Ethics, Emory University, USA). " . . deep understanding of world politics . . knowledge of the world's literary works whether fiction or treatise . . wide knowledge of music of all genres . . erudite . . encyclopedic . . for every and anyone." (Dr. Erna Brodber, sociologist-historian-novelist, University of the West Indies). "In his own thoroughly original way Tekla Mekfet evokes the largesse of spirit and innovative rhetorical performances of Walt Whitman . . Whitman opened up the space of the line in American verse; he had an agile poetic persona; he was chronicler, seer, prophet. In our time Ras Mekfet is accomplishing much the same through his vision and voice." (Michael Kuelker, Professor of English, St. Charles Community College, Rastafari-Reggae researcher, DJ, Missouri). Structure is as vocabulary item, social commentary, music of meaning, "Often, life is not nice neat sentences'. The index invites piece-mealing focus on such as The Word, Logic RHYTHM Household-Community, Reality, Freedom, Whiteness, or Oneness. Varied subjects are explored as symbiotic - as could be related to Spinoza's All is One and The One is Divine', to 'Selassie is The Chapel', to Hegel's 'God' dwelling within Humankind & permanently pervading the universe - related to shared African principles of an all-manifesting all-embracing 'NTU', or JAH of Rastrafari. Of Nature's Logic & Kant's 'Categorical Imperative' for universal oneness. Concept 'Babylon' de-constructed throughout, as is 'Zion'. Of 'Concrete Jungle', The City, Marketed 'God', Moral Relativity, "life-long insecurity." " . . the heavy and the weary weight / Of all this unintelligible world / Is lightened." Mekfet invites you to be free 'of being psychologically blind. For YOU, are living of some measure & mix of philosophy . . that you may be living unperceived." to be recognized "for sense of options for direction. ." - Mother Africa's Philosophy, Rastafari, The Bible, & cross-refs philosophy of West & East - Philosophy in Reggae, Jazz, Dancehall Music: Atavistic Appeal African Rhythms Worldwide - Culture of Politics, Mis-Education, Violence & Masculinity in 'Jamaica'/'Carry-beyond' - A Rastafari Journey, Jamaica & Social Prejudice - Animism & Literary Imagery. Multi-cultural imagery 'Christ'/Re-patria-tion/Ancestor Worship - 'Israel' & 'Jerusalem' not as geographical entities, but as universal concepts for social organization related to Rhythm of Ecology & Bio-diversity, the Cosmos as a single organism, & Bio-mimicry - all antithesis of concept of 'Babylon
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