07385oam 22015014 450 991081076770332120200520144314.01-4755-1207-41-4755-1206-6(CKB)2670000000278935(EBL)1607007(SSID)ssj0000943350(PQKBManifestationID)11502966(PQKBTitleCode)TC0000943350(PQKBWorkID)10975530(PQKB)10335463(Au-PeEL)EBL1607007(CaPaEBR)ebr10627156(OCoLC)870245065(IMF)WPIEE2012235(IMF)WPIEA2012235(MiAaPQ)EBC1607007(EXLCZ)99267000000027893520020129d2012 uf 0engurcn|||||||||txtccrCaribbean Growth in an International Perspective : The Role of Tourism and Size /Nita Thacker, Sebastian Acevedo Mejia, Roberto Perrelli1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (36 p.)IMF Working PapersIMF working paper ;WP/12/235Description based upon print version of record.1-4755-1208-2 1-4755-1089-6 Includes bibliographical references.Cover; Contents; I. Introduction; II. Catching Up or Falling Behind? A Caribbean Tale; Figures; Figure 1. Caribbean: Ratio of Per capita GDP (PPP) to Relevant Comparators, 1970-2009; III. Accounting for Growth in the Caribbean; A. Analytical Framework; B. Growth Accounting Results; Figure 2. ECCU: Contributions to Growth, 1970-2007; Figure 3. Other Caribbean: Contributions to Growth, 1970-2007; C. Level Accounting Results; IV. The Tourism and Growth Nexus in the Caribbean; A. A Brief Review of the Literature; B. The Proposed Econometric Approach; C. The Impact of Tourism on Growth LevelsFigure 4. Caribbean: Factors Contributing to Caribbean Growth vis-à-vis the World D. The Impact of Tourism on Growth Volatility; E. Tourism, Size and Growth Accounting; V. Concluding Remarks; References; Appendix: Data and Variables; Tables; Table 1. ECCU: Growth Accounting 1970-2007; Table 2. Other Caribbean: Growth Accounting 1970-2007; Table 3. ECCU: Output Growth and its Components: Ratio to Barbados Values, 1970-2007; Table 4. Other Caribbean: Output Growth and its Components: Ratio to Barbados Values, 1970-2007Table 5. ECCU: Output Growth and its Components: Ratio to U.S. Values, 1970-2007 Table 6. Other Caribbean: Output Growth and its Components: Ratio to U.S. Values, 1970-2007; Table 7. Tourism and Growth Estimations; Table 8. Tourism and Small Islands Interaction Estimations; Table 9. Tourism and Growth Estimations Robustness; Table 10. Growth Volatility Estimations; Table 11. Growth Accounting Estimations; Table 12. List of CountriesAfter earlier success, growth performance in most Caribbean countries has been disappointing since the early 1990s. With slower growth, output has fallen behind that of relevant comparator countries. This paper analyzes the growth experience of the Caribbean countries from a cross country perspective. Three findings stand out. First, the slowdown in growth is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many countries there is scope for further expansion of this sector. Third, the small size and the fact that most of these countries are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and regional integration could pay dividends in terms of higher growth in the region.IMF Working Papers; Working Paper ;No. 2012/235TourismCaribbean AreaEconomic developmentCaribbean AreaCapacityimfCapital and Total Factor ProductivityimfCaribbeanimfCostimfEconomic Growth and Aggregate Productivity: GeneralimfEconomic sectorsimfEconomic theoryimfEconomywide Country Studies: Latin AmericaimfExpenditureimfExpenditures, PublicimfGamblingimfHospitality, leisure & tourism industriesimfIncome economicsimfIndustrial productivityimfIndustries: Hospital,Travel and TourismimfLabor economicsimfLabor Economics: GeneralimfLaborimfLabourimfMacroeconomicsimfMacroeconomics: ProductionimfMultiple or Simultaneous Equation Models: Models with Panel DataimfNational Government Expenditures and Related Policies: GeneralimfProduction and Operations ManagementimfProduction growthimfProductionimfProductivityimfPublic expenditure reviewimfPublic finance & taxationimfPublic FinanceimfRecreationimfRestaurantsimfSportsimfTotal factor productivityimfTourismimfBarbadosimfTourismEconomic developmentCapacityCapital and Total Factor ProductivityCaribbeanCostEconomic Growth and Aggregate Productivity: GeneralEconomic sectorsEconomic theoryEconomywide Country Studies: Latin AmericaExpenditureExpenditures, PublicGamblingHospitality, leisure & tourism industriesIncome economicsIndustrial productivityIndustries: Hospital,Travel and TourismLabor economicsLabor Economics: GeneralLaborLabourMacroeconomicsMacroeconomics: ProductionMultiple or Simultaneous Equation Models: Models with Panel DataNational Government Expenditures and Related Policies: GeneralProduction and Operations ManagementProduction growthProductionProductivityPublic expenditure reviewPublic finance & taxationPublic FinanceRecreationRestaurantsSportsTotal factor productivityTourism332.1;332.1/532Thacker Nita1623606Acevedo Mejia Sebastian1451313Perrelli Roberto1141566DcWaIMFBOOK9910810767703321Caribbean Growth in an International Perspective4239332UNINA