Jamaica - Country Economic Memorandum : Unlocking Growth

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collection.link.76
https://openknowledge.worldbank.org/handle/10986/2184
collection.name.76
Country Economic Memorandum
dc.contributor.author
World Bank
dc.date.accessioned
2012-03-19T10:12:46Z
dc.date.available
2012-03-19T10:12:46Z
dc.date.issued
2011-05-26
dc.description.abstract
The 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.identifier.uri
http://hdl.handle.net/10986/2756
dc.language
English
dc.publisher
World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTANT
dc.subject
ACCOUNTING
dc.subject
ACCOUNTING STANDARDS
dc.subject
ADVERSE EFFECTS
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AGRICULTURE
dc.subject
ALLOCATION
dc.subject
ALLOCATION OF CAPITAL
dc.subject
BENCHMARKING
dc.subject
BINDING CONSTRAINT
dc.subject
BRAIN DRAIN
dc.subject
BUDGETING
dc.subject
BUREAUCRACY
dc.subject
CAPITAL FLOWS
dc.subject
CAPITAL FORMATION
dc.subject
CAPITAL GOODS
dc.subject
CAPITAL STOCK
dc.subject
CDF
dc.subject
COMMON LAW
dc.subject
COMPARATIVE ADVANTAGE
dc.subject
COMPETITIVENESS
dc.subject
CONFEDERATION
dc.subject
CONTINGENT LIABILITIES
dc.subject
CORPORATE TAX RATES
dc.subject
CORPORATION
dc.subject
CROWDING OUT
dc.subject
CURRENCY
dc.subject
DEBT
dc.subject
DEBT MANAGEMENT
dc.subject
DEBT SERVICE
dc.subject
DEBT SWAP
dc.subject
DEBT-SERVICING COSTS
dc.subject
DEMOGRAPHIC TRANSITION
dc.subject
DEVELOPMENT BANK
dc.subject
DEVELOPMENT STRATEGY
dc.subject
DISPUTE RESOLUTION
dc.subject
ECONOMIC ACTIVITY
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC HISTORY
dc.subject
ECONOMIC IMPACT
dc.subject
ECONOMIC PERFORMANCE
dc.subject
ECONOMICS
dc.subject
ELASTICITIES
dc.subject
ELASTICITY
dc.subject
EMPIRICAL STUDIES
dc.subject
ENABLING ENVIRONMENT
dc.subject
ENVIRONMENTAL
dc.subject
EQUIPMENT
dc.subject
EXCHANGE CONTROLS
dc.subject
EXCHANGE RATES
dc.subject
EXPENDITURE
dc.subject
EXPENDITURES
dc.subject
EXPORT PERFORMANCE
dc.subject
EXPORT SHARE
dc.subject
EXPORTERS
dc.subject
EXPORTS
dc.subject
FEMALE LABOR
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FEMALE LABOR FORCE
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL MARKETS
dc.subject
FINANCIAL SECTOR
dc.subject
FINANCIAL STATEMENTS
dc.subject
FISCAL DEFICITS
dc.subject
FISCAL DISCIPLINE
dc.subject
FISCAL POLICIES
dc.subject
FISCAL POLICY
dc.subject
FIXED CAPITAL
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FIXED INVESTMENT
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FOREIGN INVESTMENT
dc.subject
FREE TRADE
dc.subject
GDP
dc.subject
GDP PER CAPITA
dc.subject
GINI COEFFICIENT
dc.subject
GOVERNMENT GUARANTEES
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GOVERNMENT POLICIES
dc.subject
GOVERNMENT REVENUE
dc.subject
GOVERNMENT REVENUES
dc.subject
GOVERNMENT SPENDING
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROSS FIXED CAPITAL FORMATION
dc.subject
GROSS VALUE
dc.subject
GROWTH POTENTIAL
dc.subject
GROWTH RATE
dc.subject
HUMAN CAPITAL
dc.subject
HUMAN RESOURCES
dc.subject
INCOME
dc.subject
INCOME DISTRIBUTION
dc.subject
INCOME TAX
dc.subject
INCOME TAXES
dc.subject
INFLATION
dc.subject
INNOVATION
dc.subject
INTELLECTUAL PROPERTY
dc.subject
INTEREST RATES
dc.subject
INTERNATIONAL MARKET
dc.subject
INVESTING
dc.subject
INVESTMENT ALLOCATION
dc.subject
INVESTMENT CLIMATE
dc.subject
INVESTMENT RATES
dc.subject
LABOR FORCE
dc.subject
LABOR FORCE PARTICIPATION
dc.subject
LABOR MARKET
dc.subject
LABOR MARKET INDICATORS
dc.subject
LABOR MARKETS
dc.subject
LABOR PRODUCTIVITY
dc.subject
LABOUR
dc.subject
LABOUR FORCE
dc.subject
LACK OF TRANSPARENCY
dc.subject
LEGAL SYSTEM
dc.subject
LEGITIMACY
dc.subject
LIBERALIZATION OF TRADE
dc.subject
LIVING CONDITIONS
dc.subject
LOCAL ECONOMY
dc.subject
MANPOWER
dc.subject
MARKET ECONOMY
dc.subject
MARKET SHARE
dc.subject
MATHEMATICS
dc.subject
MINIMUM WAGE
dc.subject
MOTIVATION
dc.subject
NATIONAL SAVING
dc.subject
NATURAL DISASTERS
dc.subject
NOMINAL INCOME
dc.subject
OCCUPATIONS
dc.subject
ORGANIZATIONAL STRUCTURES
dc.subject
PERVERSE INCENTIVES
dc.subject
POLITICAL ECONOMY
dc.subject
POLITICAL STABILITY
dc.subject
POTENTIAL INVESTORS
dc.subject
PRIVATE FINANCING
dc.subject
PRIVATE INVESTMENT
dc.subject
PRIVATE SECTOR
dc.subject
PRODUCTIVE INVESTMENT
dc.subject
PRODUCTIVITY GROWTH
dc.subject
PUBLIC DEBT
dc.subject
PUBLIC FINANCES
dc.subject
PUBLIC INVESTMENT
dc.subject
PUBLIC SECTOR
dc.subject
PUBLIC SPENDING
dc.subject
RATE OF RETURN
dc.subject
RATES OF RETURN
dc.subject
REAL GDP
dc.subject
REAL INTEREST
dc.subject
REAL INTEREST RATES
dc.subject
REAL WAGES
dc.subject
REMITTANCES
dc.subject
RENT-SEEKING BEHAVIOR
dc.subject
REPUBLIC
dc.subject
RETIREMENT
dc.subject
RETURNS
dc.subject
RISK AVERSE
dc.subject
RULE OF LAW
dc.subject
SAFETY
dc.subject
SCIENTIFIC RESEARCH
dc.subject
SKILLED LABOR
dc.subject
STATE INTERVENTION
dc.subject
TAX
dc.subject
TAX EXEMPTIONS
dc.subject
TAX INCENTIVES
dc.subject
TAX POLICIES
dc.subject
TAX POLICY
dc.subject
TAX RATE
dc.subject
TAX RATES
dc.subject
TAX REGIME
dc.subject
TAX REVENUE
dc.subject
TELECOMMUNICATIONS
dc.subject
TOTAL FACTOR PRODUCTIVITY
dc.subject
TRADE UNIONS
dc.subject
UNEMPLOYMENT
dc.subject
UNEMPLOYMENT RATE
dc.subject
UNEMPLOYMENT RATES
dc.subject
UNSKILLED WORKERS
dc.subject
VALUE ADDED
dc.subject
WAGE DISTRIBUTION
dc.subject
WORLD TRADE ORGANIZATION
dc.subject
WTO
dc.title
Jamaica - Country Economic Memorandum : Unlocking Growth
en
okr.crosscuttingsolutionarea
Jobs
okr.date.disclosure
2011-06-06
okr.doctype
Economic & Sector Work :: Country Economic Memorandum
okr.docurl
http://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.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Social Protection and Labor
okr.globalpractice
Environment and Natural Resources
okr.globalpractice
Finance and Markets
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000386194_20110608003811
okr.identifier.internaldocumentum
14310141
okr.identifier.report
60374
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2011/06/08/000386194_20110608003811/Rendered/PDF/603740ESW0Gray0c060601100BOX361480B.pdf
en
okr.region.administrative
Latin America & Caribbean
okr.region.country
Jamaica
okr.region.geographical
Caribbean
okr.region.geographical
America
okr.topic
Social Protections and Labor :: Labor Policies
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Macroeconomics and Economic Growth :: Economic Theory & Research
okr.topic
Macroeconomics and Economic Growth :: Political Economy
okr.topic
Environment :: Environmental Economics & Policies
okr.unit
Economic Policy Sector (LCSPE)
okr.volume
1 of 1

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