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dc.titleCaribbean Economics Quarterly: Volume 12, Issue 2: Global and Regional Economies at a Crossroads
dc.contributor.authorRosenblatt, David
dc.contributor.authorMooney, Henry
dc.contributor.authorClayton, Khamal
dc.contributor.authorSaboin, José Luis
dc.contributor.authorOrtiz de Mendívil, Cloe
dc.contributor.authorGauto, Victor
dc.contributor.authorTeixeira, Gisele
dc.contributor.authorGraham, Monique
dc.contributor.authorSatnarine-Singh, Nirvana
dc.contributor.orgunitCountry Department Caribbean Group
dc.coverageBarbados
dc.coverageGuyana
dc.coverageJamaica
dc.coverageSuriname
dc.coverageTrinidad and Tobago
dc.coverageBahamas
dc.coverageThe Caribbean
dc.date.available2023-08-30T07:54:28
dc.date.issue2023-08-30T00:08:00
dc.description.abstractThe global economy and Caribbean regional economies are at a crossroads. In general terms, tourism-oriented economies have recovered more rapidly than expected from the sharp pandemic-induced contraction of 2020. Commodity prices have subsided; however, they remain above pre-pandemic levels, with persistent negative effects on households across the region, while at the same time buoying macroeconomic prospects for commodity exporters. Regional economies have grown faster than the global economy, recovering from a deeper shock, but growth rates are likely to converge to pre-pandemic levels unless there are significant structural changes to enhance productivity, country circumstances vary substantially, as noted in the country sections of this report. Some countries (e.g., The Bahamas and Jamaica) tourism sectors have recovered more rapidly than others (e.g., Barbados), and there is the hydrocarbon-fueled extraordinary growth of Guyana that dwarfs the economic growth of all countries in the Western Hemisphere. Key risks and opportunities also vary across countries, and these are analyzed in the country sections of the report.
dc.format.extent54
dc.identifier.doihttp://dx.doi.org/10.18235/0005092
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Caribbean-Economics-Quarterly-Volume-12-Issue-2-Global-and-Regional-Economies-at-a-Crossroads.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectInflation
dc.subjectEconomy
dc.subjectTourism
dc.subjectFiscal Policy
dc.subjectFinancial Market
dc.subjectGross Domestic Product
dc.subjectCredit Growth
dc.subjectDemand Shock
dc.subjectEconomic Policy
dc.subjectEconomic Recession
dc.subjectEconomic Recovery
dc.subjectFinance
dc.subjectFinancial Risk
dc.subjectFinancial Sector
dc.subjectFiscal Consolidation
dc.subject.jelcodeE00 - Macroeconomics and Monetary Economics: General: General
dc.subject.jelcodeE30 - Prices, Business Fluctuations, and Cycles: General
dc.subject.jelcodeE60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
dc.subject.jelcodeH12 - Crisis Management
dc.subject.jelcodeL83 - Sports • Gambling • Restaurants • Recreation • Tourism
dc.subject.jelcodeO54 - Latin America • Caribbean
dc.subject.keywordsCaribbean;Tourism;Economy;Globalization;Regionalization;Economic Development;growth
dc.typeMagazines, Journals and Newsletters
idb.identifier.pubnumberIDB-JN-00389
idb.operationRG-P1823
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