Publication:
Jamaica - Country Economic Memorandum : Unlocking Growth

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-03-19T10:12:46Z
dc.date.available2012-03-19T10:12:46Z
dc.date.issued2011-05-26
dc.description.abstractThe objective of this report is to identify the main obstacles to longer term growth in Jamaica. The report takes a holistic approach, examining a large set of economic and social factors that may be hindering growth and filtering them through a growth diagnostic analysis to narrow the focus to those that constrain growth the most. Building on the results of the growth diagnostic analysis, the report then discusses each key obstacle and identifies possible reform scenarios to unlock growth in Jamaica. The report also examines how the country might further accelerate growth through private sector development. This Country Economic Memorandum assesses the key causes that have stalled Jamaica's economy over the past four decades and presents recommendations to unlock its growth potential. There is a basis for optimism in that Jamaica has had political stability, high rates of private investment, significant reduction of poverty in rural and urban areas, and improved income distribution. Nonetheless, this report shows that, since independence in 1962, long-term economic growth has been disappointing and underperformed most other countries. The findings of this study indicate that Jamaica's disappointing economic performance is traceable to low productivity caused by (i) deficiencies in human capital and entrepreneurship that are due to high migration rates and to deficiencies in the quality of education and training offered to the labor force, among other factors, (ii) a high rate of crime, and (iii) distortionary tax incentives combined with 'enclave' development that does not spill over to the rest of the economy.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110608003811
dc.identifier.doi10.1596/2756
dc.identifier.urihttps://hdl.handle.net/10986/2756
dc.languageEnglish
dc.publisherWorld Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTANT
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectADVERSE EFFECTS
dc.subjectAGRICULTURE
dc.subjectALLOCATION
dc.subjectALLOCATION OF CAPITAL
dc.subjectBENCHMARKING
dc.subjectBINDING CONSTRAINT
dc.subjectBRAIN DRAIN
dc.subjectBUDGETING
dc.subjectBUREAUCRACY
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL GOODS
dc.subjectCAPITAL STOCK
dc.subjectCDF
dc.subjectCOMMON LAW
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONFEDERATION
dc.subjectCONTINGENT LIABILITIES
dc.subjectCORPORATE TAX RATES
dc.subjectCORPORATION
dc.subjectCROWDING OUT
dc.subjectCURRENCY
dc.subjectDEBT
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT SERVICE
dc.subjectDEBT SWAP
dc.subjectDEBT-SERVICING COSTS
dc.subjectDEMOGRAPHIC TRANSITION
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDISPUTE RESOLUTION
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC IMPACT
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMICS
dc.subjectELASTICITIES
dc.subjectELASTICITY
dc.subjectEMPIRICAL STUDIES
dc.subjectENABLING ENVIRONMENT
dc.subjectENVIRONMENTAL
dc.subjectEQUIPMENT
dc.subjectEXCHANGE CONTROLS
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORT SHARE
dc.subjectEXPORTERS
dc.subjectEXPORTS
dc.subjectFEMALE LABOR
dc.subjectFEMALE LABOR FORCE
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STATEMENTS
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFIXED INVESTMENT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectFREE TRADE
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGINI COEFFICIENT
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGOVERNMENT POLICIES
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROSS VALUE
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN RESOURCES
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINFLATION
dc.subjectINNOVATION
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL MARKET
dc.subjectINVESTING
dc.subjectINVESTMENT ALLOCATION
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT RATES
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET INDICATORS
dc.subjectLABOR MARKETS
dc.subjectLABOR PRODUCTIVITY
dc.subjectLABOUR
dc.subjectLABOUR FORCE
dc.subjectLACK OF TRANSPARENCY
dc.subjectLEGAL SYSTEM
dc.subjectLEGITIMACY
dc.subjectLIBERALIZATION OF TRADE
dc.subjectLIVING CONDITIONS
dc.subjectLOCAL ECONOMY
dc.subjectMANPOWER
dc.subjectMARKET ECONOMY
dc.subjectMARKET SHARE
dc.subjectMATHEMATICS
dc.subjectMINIMUM WAGE
dc.subjectMOTIVATION
dc.subjectNATIONAL SAVING
dc.subjectNATURAL DISASTERS
dc.subjectNOMINAL INCOME
dc.subjectOCCUPATIONS
dc.subjectORGANIZATIONAL STRUCTURES
dc.subjectPERVERSE INCENTIVES
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL STABILITY
dc.subjectPOTENTIAL INVESTORS
dc.subjectPRIVATE FINANCING
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCTIVE INVESTMENT
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SPENDING
dc.subjectRATE OF RETURN
dc.subjectRATES OF RETURN
dc.subjectREAL GDP
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATES
dc.subjectREAL WAGES
dc.subjectREMITTANCES
dc.subjectRENT-SEEKING BEHAVIOR
dc.subjectREPUBLIC
dc.subjectRETIREMENT
dc.subjectRETURNS
dc.subjectRISK AVERSE
dc.subjectRULE OF LAW
dc.subjectSAFETY
dc.subjectSCIENTIFIC RESEARCH
dc.subjectSKILLED LABOR
dc.subjectSTATE INTERVENTION
dc.subjectTAX
dc.subjectTAX EXEMPTIONS
dc.subjectTAX INCENTIVES
dc.subjectTAX POLICIES
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX REGIME
dc.subjectTAX REVENUE
dc.subjectTELECOMMUNICATIONS
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE UNIONS
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectUNSKILLED WORKERS
dc.subjectVALUE ADDED
dc.subjectWAGE DISTRIBUTION
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleJamaica - Country Economic Memorandum : Unlocking Growthen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2011-06-06
okr.date.doiregistration2025-05-07T11:06:30.085855Z
okr.doctypeEconomic & Sector Work::Country Economic Memorandum
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110608003811
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.guid920121468042544307
okr.identifier.externaldocumentum000386194_20110608003811
okr.identifier.internaldocumentum14310141
okr.identifier.report60374
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2011/06/08/000386194_20110608003811/Rendered/PDF/603740ESW0Gray0c060601100BOX361480B.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryJamaica
okr.region.geographicalCaribbean
okr.region.geographicalAmerica
okr.topicSocial Protections and Labor::Labor Policies
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.topicEnvironment::Environmental Economics & Policies
okr.unitEconomic Policy Sector (LCSPE)
okr.volume1 of 1
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