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Introduction

Authored by: Robert E. Looney

Handbook of Caribbean Economies

Print publication date:  November  2020
Online publication date:  November  2020

Print ISBN: 9780367210489
eBook ISBN: 9780429265105
Adobe ISBN:

10.4324/9780429265105-1

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Abstract

The chapters in this volume examine the Caribbean economies from several perspectives. Many break new ground in questioning past policy mindsets while developing new approaches to many of the traditional constraints limiting growth in the region. With new challenges identified, several chapters put forward approaches that may prove to be fruitful in achieving better economic performance. One overriding issue concerns the viability of these economies. Growth in the region has been on a downward trend since the 1980s when gross domestic product (GDP) expanded at an average annual rate of 3.2%. Unfortunately, growth declined to 3.1% in the 1990s, to 2.7% in the 2000s, and finally to 1.7% from 2010–19. Prior to the global financial crisis (1980–2007), growth averaged 3.2%, subsequently falling off to 1.3% (2008–2019).

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