LEADER 07333oam 22014774 450 001 9910786473903321 005 20230801225502.0 010 $a1-4755-1207-4 010 $a1-4755-1206-6 035 $a(CKB)2670000000278935 035 $a(EBL)1607007 035 $a(SSID)ssj0000943350 035 $a(PQKBManifestationID)11502966 035 $a(PQKBTitleCode)TC0000943350 035 $a(PQKBWorkID)10975530 035 $a(PQKB)10335463 035 $a(MiAaPQ)EBC1607007 035 $a(Au-PeEL)EBL1607007 035 $a(CaPaEBR)ebr10627156 035 $a(OCoLC)870245065 035 $a(IMF)WPIEE2012235 035 $a(IMF)WPIEA2012235 035 $a(EXLCZ)992670000000278935 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCaribbean Growth in an International Perspective : $eThe Role of Tourism and Size /$fNita Thacker, Sebastian Acevedo Mejia, Roberto Perrelli 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (36 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/12/235 300 $aDescription based upon print version of record. 311 $a1-4755-1208-2 311 $a1-4755-1089-6 320 $aIncludes bibliographical references. 327 $aCover; 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 Levels 327 $aFigure 4. Caribbean: Factors Contributing to Caribbean Growth vis-a?-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, 1970-2007 327 $aTable 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 Countries 330 3 $aAfter earlier success, growth performance in most Caribbean countries has been disappointing since the early 1990s. With slower growth, output has fallen behind that of relevant comparator countries. This paper analyzes the growth experience of the Caribbean countries from a cross country perspective. Three findings stand out. First, the slowdown in growth is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many countries there is scope for further expansion of this sector. Third, the small size and the fact that most of these countries are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and regional integration could pay dividends in terms of higher growth in the region. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/235 606 $aTourism$zCaribbean Area 606 $aEconomic development$zCaribbean Area 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aIndustries: Hospital,Travel and Tourism$2imf 606 $aProduction and Operations Management$2imf 606 $aMultiple or Simultaneous Equation Models: Models with Panel Data$2imf 606 $aEconomic Growth and Aggregate Productivity: General$2imf 606 $aEconomywide Country Studies: Latin America$2imf 606 $aCaribbean$2imf 606 $aSports$2imf 606 $aGambling$2imf 606 $aRestaurants$2imf 606 $aRecreation$2imf 606 $aTourism$2imf 606 $aProduction$2imf 606 $aCost$2imf 606 $aCapital and Total Factor Productivity$2imf 606 $aCapacity$2imf 606 $aMacroeconomics: Production$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aLabor Economics: General$2imf 606 $aHospitality, leisure & tourism industries$2imf 606 $aPublic finance & taxation$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aTotal factor productivity$2imf 606 $aProductivity$2imf 606 $aPublic expenditure review$2imf 606 $aLabor$2imf 606 $aEconomic sectors$2imf 606 $aExpenditure$2imf 606 $aProduction growth$2imf 606 $aIndustrial productivity$2imf 606 $aExpenditures, Public$2imf 606 $aLabor economics$2imf 606 $aEconomic theory$2imf 607 $aBarbados$2imf 615 0$aTourism 615 0$aEconomic development 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aIndustries: Hospital,Travel and Tourism 615 7$aProduction and Operations Management 615 7$aMultiple or Simultaneous Equation Models: Models with Panel Data 615 7$aEconomic Growth and Aggregate Productivity: General 615 7$aEconomywide Country Studies: Latin America 615 7$aCaribbean 615 7$aSports 615 7$aGambling 615 7$aRestaurants 615 7$aRecreation 615 7$aTourism 615 7$aProduction 615 7$aCost 615 7$aCapital and Total Factor Productivity 615 7$aCapacity 615 7$aMacroeconomics: Production 615 7$aNational Government Expenditures and Related Policies: General 615 7$aLabor Economics: General 615 7$aHospitality, leisure & tourism industries 615 7$aPublic finance & taxation 615 7$aLabour 615 7$aincome economics 615 7$aTotal factor productivity 615 7$aProductivity 615 7$aPublic expenditure review 615 7$aLabor 615 7$aEconomic sectors 615 7$aExpenditure 615 7$aProduction growth 615 7$aIndustrial productivity 615 7$aExpenditures, Public 615 7$aLabor economics 615 7$aEconomic theory 700 $aThacker$b Nita$01536606 701 $aAcevedo Mejia$b Sebastian$01451313 701 $aPerrelli$b Roberto$01141566 801 0$bDcWaIMF 906 $aBOOK 912 $a9910786473903321 996 $aCaribbean Growth in an International Perspective$93785463 997 $aUNINA