The Bahamas

Facing a period of climate change and slow growth

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:

10.4324/9780429265105-24

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Abstract

Economic growth in the Bahamas is gradually declining. With the onset of climate change, the country runs the danger of falling into a vicious circle whereby falling government revenues result in slower rates of economic growth, leading to a further reduction in revenues. Increased budgetary pressures result in lower allocations for climate abatement measures that, in turn, expose the country to more climate-related damage, which further reduces growth and government revenues. The situation is not hopeless, but the government must make a concerted effort to prepare for what lies ahead, or the country will experience a long-run decline.

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